Medical Device Outsourcing Market Current Scenario with Future Trends Analysis to 2031

Medical Device Outsourcing Market to reach over USD 312.61 billion by the year 2031 - Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Medical Device Outsourcing Market Size, Share & Trends Analysis Report By Services (Quality Assurance, Contract Manufacturing), By Therapeutic Area (Cardiology, Diagnostic Imaging, Orthopedic, IVD, Ophthalmic, General And Plastic Surgery, Drug Delivery, Dental, Endoscopy, Diabetes Care), By Class (Class I, Class II, And Class III)- Market Outlook And Industry Analysis 2031"

The global medical device outsourcing market is estimated to reach over USD 312.61 billion by 2031, exhibiting a CAGR of 11.68% during the forecast period.

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Leading medical contract manufacturers specialize in the design and production of medical devices while also providing essential services such as UV bonding, injection molding, and other advanced manufacturing processes to major OEMs and medical device companies. A key driver of the medical device manufacturing outsourcing market is the substantial increase in the global geriatric population, coupled with rising life expectancy and the growing demand for technological innovation within the medical sector.

The market is expected to experience sustained growth throughout the forecast period, propelled by the escalating demand for medical devices, increasing cost pressures, and the need for operational efficiency. Additionally, the growing complexity of product engineering and the emergence of new market entrants are likely to influence the industry's future trajectory.

List of Prominent Players in the Medical Device Outsourcing Market:
• SGS SA
• Laboratory Corporation of America Holdings
• Euro fins Scientific
• Pace Analytical Services, Inc.
• Intertek Group plc
• WuXiAppTec
• North American Science Associates, LLC
• TÜV SÜD
• Sterigenics U.S.
• LLC (GTCR, LLC)
• Charles River Laboratories
• Medical Device Testing Services
• RJR Consulting, Inc.
• Mandala International.
• Freyr
• Global Regulatory Partners
• PAREXEL International Corporation (EQT Private Equity and Goldman Sachs Asset Management)
• Emergo (UL LLC)
• Bioteknica
• Accell Clinical Research, LLC
• Genpact.; Criterium, Inc.
• Promedica International
• Med pace
• ICON plc.
• IQVIA Inc.
• Integer Holdings Corporation
• Tecomet Inc. (Charlesbank Capital Partners, LLC)
• Jabil Inc.
• FLEX LTD.
• Celestica Inc.
• Sanmina Corporation.
• Plexus Corp.
• Phillips Medisize (Molex, LLC)
• Cantel Medical Corp. (STERIS plc)
• West Pharmaceutical Services, Inc.

Market Dynamics:
Drivers-
The rising demand for medical device testing and validation, along with the increasing adoption of analytical testing services such as physical testing, sterility assessments, and other evaluations, are key factors driving the growth of the medical device analytical testing outsourcing market. The growing need for analytical services for devices such as cardiovascular, orthopedic, and dental implants further contributes to the market's expansion.

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Challenges:
Stringent regulatory standards set by organizations such as the International Organization for Standardization (ISO), coupled with disruptions in supply chain management-particularly during global events like the COVID-19 pandemic-pose significant challenges to the growth of the medical device outsourcing industry. Nonetheless, the aging global population and rising adoption of interventional medical devices (IMDs) provide substantial growth opportunities.

Regional Trends:
The Asia Pacific region is anticipated to capture a substantial share of the medical device outsourcing market revenue and is projected to exhibit robust growth at a high CAGR over the forecast period. This expansion is driven by the increasing prevalence of chronic diseases and the corresponding rise in demand for medical devices. The presence of key industry players and cost-effective manufacturing solutions further supports regional growth. Meanwhile, North America remains the fastest-growing market for outsourced medical device manufacturing, spurred by heightened demand for medical products and increased healthcare investments across the region.

Recent Developments:
• In December 2021, Oscor Inc. was purchased by Integer Holdings, a US-based advanced medical device outsourcing business, for $220 million. By broadening the product selection in steerable sheaths and cardiac and neurostimulation leads and by introducing low-cost manufacturing capability to support expansion, this purchase of Oscor improves Integer's capabilities to service clients. Oscor is a US-based business that provides outsourcing services for medical devices.

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Segmentation of Medical Device Outsourcing Market-
By Service-
• Quality Assurance
• Regulatory Affairs Services
o Clinical trials applications and product registrations
o Regulatory writing and publishing
o Legal representation
o Other
• Product Design and Development Services
o Designing & Engineering
o Machining
o Molding
o Packaging
• Product Testing & Sterilization Services
• Product Implementation Services
• Product Upgrade Services
• Product Maintenance Services
• Contract Manufacturing
o Accessories Manufacturing
o Assembly Manufacturing
o Component Manufacturing
o Device Manufacturing
By Class Type-
• Class I
• Class II
• Class III
By Application
• Cardiology
• Diagnostic imaging
• Orthopedic
• IVD
• Ophthalmic
• General and plastic surgery
• Drug delivery
• Dental
• Endoscopy
• Diabetes care
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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