Medical Device Contract Manufacturing Market - Overview
The medical device contract manufacturing market is expanding significantly, as several life science companies are increasing their outsourcing activities as a strategy to reduce capital expenditure and labor costs. The in-vitro diagnostic medical devices segment is anticipated to expand during the forecast period, as the devices offer a promising solution for the rapid diagnosis of diseases. These products offer superior solutions compared to other diagnosis products, by offering desired outcomes and effectiveness in diagnosing. An increase in the incidence of chronic diseases has fueled demand for products that offer rapid and efficient healing. Thus, a majority of hospitals have shifted their preferences toward advanced products. These products help decrease the average length of stay in hospitals through early recovery from disease. This, in turn, helps reduce surgical costs. Therefore, a rise in demand for advanced products that increase therapeutic outcomes drives the medical device contract manufacturing market.
The global medical device contract manufacturing market has been extensively analyzed based on device type, type of manufacturing, service, application, and region. In terms of device type, the global market has been classified into in-vitro diagnostic medical devices, diagnostic imaging & medical equipment, drug delivery devices, patient monitoring devices, minimally access surgical instruments, therapeutic patient assistive devices, and others. Based on type of manufacturing, the global medical device contract manufacturing market has been classified into raw materials, electronics, and finished goods. In terms of service, the global medical device contract manufacturing market has been split into prototype development, finished device manufacturing, assembly & packaging, testing & regulatory support services, molding & casting, and others. Based on application, the global medical device contract manufacturing market has been divided into cardiovascular, orthopedic, neurovascular, pulmonary, oncology, laparoscopy, urology & gynecology, radiology, and others. Each of the segments has been analyzed in detail for market trends, recent developments, outlook, and opportunities. The report provides current and future market size for each segment and sub-segment for the period from 2018 to 2026, in terms of revenue in US$ Mn, considering 2017 as the base year The compound annual growth rate (%CAGR) for each market segment has been provided for the forecast period from 2018 to 2026, along with the estimations of market size.
In terms of region, the global medical device contract manufacturing market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been further sub-segmented into major countries and sub-regions. The current and future market sizes in terms of revenue (US$ Mn) of these regional markets and their major countries have been provided in the report for the period from 2016 to 2026, with their growth rate (%) for the period from 2018 to 2026. The study also offers a list of recommendations and highlights of the market for new companies willing to enter the market and for existing companies to increase market shares, which is likely to help in the decision-making process.
The market overview section of the report demonstrates market dynamics and market trends such as drivers, restraints, opportunities, and key trends that influence the current and future status of the medical device contract manufacturing industry. The report also covers market attractiveness analysis and key market share analysis in the market overview section in order to provide a thorough analysis of the overall competitive scenario in the global medical device contract manufacturing market.
The report concludes with the company profiles section that includes key information about the major players in the market. Key players profiled in this report include Flextronics International, LTD., Jabil Inc., Benchmark Electronics, Inc., Integer Holdings Corporation (Greatbatch), West Pharmaceutical Services, Inc., Tecomet, Inc., Nortech Systems, TE Connectivity (Creganna Medical), Forefront Medical Technologies, and Nordson Corporation. Each of these players has been profiled in the report considering parameters such as company overview, financial overview, business strategies, product portfolio, and recent developments.
The global medical device contract manufacturing market has been segmented as follows:
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