Future of the Medical Device Contract Manufacturing Market: Trends, Innovations, and Key Forecasts Through 2034

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Medical Device Contract Manufacturing Market Size Growth Forecast: What to Expect by 2025?
The market size for medical device contract manufacturing has seen quick expansion in the last few years. The growth is expected to increase from $101.04 billion in 2024 to $114.66 billion in 2025, marking a compound annual growth rate (CAGR) of 13.5%. The liable reasons for this growth during the historical timeframe include cost-effective measures, specialized production, robust supply chain, quality assurance and certification, along with regulatory expertise.

How Will the Medical Device Contract Manufacturing Market Size Evolve and Grow by 2029?
In the coming years, the market size of medical device contract manufacturing is projected to experience a quick expansion. It's expected to reach a value of $198.38 billion in 2029, with a compound annual growth rate (CAGR) of 14.7%. This growth within the prediction period can be linked to factors such as reshoring and nearshoring, additive manufacturing, economic and geopolitical influences, joint research and development (r&d), and sustainable practices. The period of forecast also highlights key trends like digital manufacturing, wearable devices, material advancements, concerns about data security and privacy, as well as remote auditing and inspections.

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What Drivers Are Propelling the Growth of Medical Device Contract Manufacturing Market Forward?
The growth of the medical device contract manufacturing market is anticipated to be fuelled by the growing incidence of chronic illnesses. Chronic conditions necessitate consistent medical care or impede regular activities. The use of intelligent medical devices allows patients to keep track of their health and better manage their chronic diseases. This, in turn, boosts the demand for contract manufacturing of medical devices. For example, the National Center for Biotechnology Information (NCBI), a US-based National Library of Medicine, projected in January 2023 that the global population with chronic diseases would reach 142.66 million by 2050, a significant increase from 71.522 million in 2020. Consequently, the escalating prevalence of chronic conditions is propelling the expansion of the medical device contract manufacturing market.

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What Trends Will Shape the Medical Device Contract Manufacturing Market Through 2029 and Beyond?
Prominent firms in the medical device contract manufacturing market are partnering strategically with other companies to boost their product development projects. For instance, in June 2022, Amnovis, an additive manufacturing firm based in Belgium, and BAAT Medical, an orthopedic medical devices firm from the Netherlands, joined forces to produce 3D printed medical devices. Their collaboration included every stage, from design to lawful manufacturing, speeding up the entry of these devices to the market and improving patient results. The goal of this cooperation was to establish new benchmarks for certain types of medical devices, with an emphasis on materials research, post-production methods, process automation, and validation. The combined initiative resulted in a comprehensive and ISO 13485:2016 accredited process for scalable production of 3D printed medical devices, simplifying the development and verification procedures for medical device OEMs.

What Are the Key Segments in the Medical Device Contract Manufacturing Market?
The medical device contract manufacturing market covered in this report is segmented -

1) By Device: IVD Devices, Diagnostic Imaging Devices, Cardiovascular Devices, Drug Delivery Devices, Endoscopy Devices, Ophthalmology Devices, Orthopedic Devices, Dental Devices, Other Devices
2) By Service: Device Development and Manufacturing Service, Quality Management Service, Assembly Service
3) By Application: Laparoscopy, Pulmonary, Urology, Gynecology, Other Applications

Subsegments:
1) By In Vitro Diagnostics (IVD) Devices: Reagents, Test Kits, Assays
2) By Diagnostic Imaging Devices: X-ray Machines, MRI Machines, Ultrasound Equipment
3) By Cardiovascular Devices: Stents, Catheters, Pacemakers
4) By Drug Delivery Devices: Infusion Pumps, Nebulizers, Auto-Injectors
5) By Endoscopy Devices: Flexible Endoscopes, Rigid Endoscopes, Accessories
6) By Ophthalmology Devices: Intraocular Lenses (IOLs), Diagnostic Equipment, Surgical Instruments
7) By Orthopedic Devices: Implants, Surgical Tools, Prosthetics
8) By Dental Devices: Dental Implants, Orthodontic Devices, Dental Chairs
9) By Other Devices: Surgical Instruments, Monitoring Devices, Wearable Health Tech

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Who Are the Key Players Shaping the Medical Device Contract Manufacturing Market's Competitive Landscape?
Major companies operating in the medical device contract manufacturing market include Benchmark Electronics Inc., Celestica International LP, Consort Medical plc, Flex Ltd., Gerresheimer AG, Integer Holdings Corporation, Kimball Electronics Inc., Nemera Development S.A., Nipro Corporation, Nortech Systems Inc., Phillips-Medisize Corporation, Plexus Corporation, Sanmina Corporation, Biofortuna Limited, Catalent Inc., Forefront Medical Technologies Pte Ltd., Invetech, SteriPack Group Ltd., Abbott Laboratories, Becton dic*kinson and Company, Cardinal Health Inc., Danaher Corporation, GE HealthCare Technologies Inc., Hologic Inc., Intuitive Surgical Inc., Johnson & Johnson, Medtronic plc, Siemens Healthineers AG, Stryker Corporation, 3M Company, Boston Scientific Corporation, Edwards Lifesciences Corporation, Fresenius Medical Care AG & Co. KGaA, Hill-Rom Holdings Inc., Masimo Corporation, ResMed Inc., Smith & Nephew plc, Teleflex Incorporated, Terumo Corporation, Zimmer Biomet Holdings Inc., Alcon Inc., Baxter International Inc., The Cooper Companies Inc., Dentsply Sirona Inc., Getinge AB, Olympus Corporation, Varian Medical Systems Inc.

What Geographic Markets Are Powering Growth in the Medical Device Contract Manufacturing Market?
North America will be the largest region in the medical device contract manufacturing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical device contract manufacturing market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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