Medical Device Engineering Services Industry Report 2025-2034: Market Dynamics, Trends, And Forecasts

The Medical Device Engineering Services Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Expected Medical Device Engineering Services Market Size During the Forecast Period?
The medical device engineering services market will grow from $4.98 billion in 2024 to $5.58 billion in 2025 at a CAGR of 12.0%, driven by an aging population, rising chronic diseases, and growth in home healthcare.

The medical device engineering services market size is expected to grow rapidly in the coming years, reaching $8.65 billion by 2029 at a compound annual growth rate (CAGR) of 11.6%. The growth is attributed to the expansion of telemedicine, the rise in wearable health devices, the increased use of 3D printing technology, and the growth of precision and personalized medicine. Key trends include the use of augmented reality (AR) and virtual reality (VR) in device design, development of wireless charging technologies, advancements in imaging technologies, the creation of artificial organs and prosthetics, and the development of smart implants with sensors.

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What Are the High-Growth Segments in the Medical Device Engineering Services Market?
The medical device engineering services market covered in this report is segmented -

1) By Services: Designing & Engineering, Machining, Molding, Packaging
2) By Device Type: Imaging Devices, Therapeutic Devices, In-Vitro Diagnostic Devices, Diagnostic And Patient Monitoring Devices, Surgical Devices, Other Devices
3) By End-use: Medical Device Companies, Biotechnology Companies

Subsegments:
1) By Designing & Engineering: Product Design, Prototyping, Testing And Validation, Regulatory Support
2) By Machining: CNC Machining, Laser Cutting, EDM (Electrical Discharge Machining)
3) By Injection Molding: Plastic Injection Molding, Rubber Molding, Metal Injection Molding, Compression Molding
4) By Packaging: Sterile Packaging, Custom Packaging Solutions, Labeling And Documentation, Shipping And Storage Solutions

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What Key Drivers Are Expected to Influence Future Medical Device Engineering Services Market Growth?
The growing patient population suffering from diabetes is expected to propel the growth of the medical device engineering services market going forward. Diabetes is a medical condition characterized by high blood glucose (sugar) levels resulting from defects in insulin production, insulin action, or both. The rising prevalence of diabetes is attributed to factors like sedentary lifestyles, aging populations, genetic predisposition, and dietary changes, driving an increase in the patient population. Medical device engineering services drive diabetes management by innovating glucose monitors, insulin delivery systems, artificial pancreas technology, wearables, and user-friendly designs. For instance, in February 2023, according to the Cleveland Clinic, a US-based non-profit academic medical center, globally, an estimated 537 million adults were diagnosed with diabetes, with projections suggesting an increase to 643 million by 2030 and 783 million by 2045. Therefore, the growing patient population suffering from diabetes is driving the growth of the medical device engineering services market.

Which Companies Hold the Largest Share Across Different Medical Device Engineering Services Market Segments?
Major companies operating in the medical device engineering services market are Johnson & Johnson, accenture* Plc, Abbott Laboratories, 3M Healthcare, Medtronic Plc, Tata Consultancy Services, Siemens Healthineers, Philips Healthcare, Becton Dickinson and Company, Stryker Corporation, GE Healthcare, Infosys Limited, Baxter International, Boston Scientific, HCL Technologies Limited, Wipro Limited, Zimmer Biomet, Tech Mahindra, Terumo Corporation, Intuitive Surgical, Edwards Lifesciences, Smith & Nephew, Hologic Inc., Varian Medical Systems, Nordson Corporation, L&T Technology Services Limited., Althea Group, Roche Diagnostics, Altran Technologies SA, ClariMed Inc.

What Medical Device Engineering Services Market Trends Are Gaining Traction Across Different Segments?
Leading firms in the medical device engineering services market are honing their focus towards the creation of innovative technologies, such as integrated medical device services partners, to improve their functionality, interconnectivity, and patient monitoring features. These integrated services encompass all the stages of a medical device's lifespan, from conceptualization to design, development, and after-market support, delivered by specialized companies to ensure streamlined coordination and efficacy across all phases. For example, in January 2023, US-based ClariMed, Inc., a company specializing in medical device development and regulatory services, introduced an integrated medical device services partner to cater to the increasing MedTech industry demand for a cohesive approach to medical product development. This strategy aspires to offer a patient-focused approach to the MedTech product lifespan, amalgamating top-notch service partners across areas like product design, engineering, and development services. The approach involves partnerships with leading service providers in a variety of fields to simplify the product lifecycle and improve the speed and efficiency of introducing medical devices to the market.

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What Are the Emerging Geographies for The Medical Device Engineering Services Market Growth?
North America was the largest region in the medical device engineering services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical device engineering services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Medical Device Engineering Services Market?
2. What is the CAGR expected in the Medical Device Engineering Services Market?
3. What Are the Key Innovations Transforming the Medical Device Engineering Services Industry?
4. Which Region Is Leading the Medical Device Engineering Services Market?

Why This Report Matters:

Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.

Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.

Efficient Research: Quickly identify market growth, leading players, and major segments.

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