Medical Device Contract Manufacturing Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019-2030, Segmented By Device ; By Service ; By Region

Description

Global Medical Device Contract Manufacturing Market Size Expands at CAGR of 4.8% to Reach USD 169.51 Billion by 2030

Global Medical Device Contract Manufacturing Market is flourishing because of the increasing demand for healthcare equipment and growing investments, and adoption of technological advancements in medical devices.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Global Medical Device Contract Manufacturing Market size at USD 122.12 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Global Medical Device Contract Manufacturing Market size to expand at a CAGR of 4.80% reaching a value of USD 169.51 billion by 2030. The development of advanced technologies in the medical device industry, the growing integration of IoT, AI, and ML in medical devices, and the rising cost of manufacturing are major growth factors for the Global Medical Device Contract Manufacturing Market. As a result, healthcare organizations are outsourcing the production of medical devices, which is driving the Global Medical Device Contract Manufacturing Market.

Opportunity - Increasing mergers and acquisitions among contract manufacturing service providers

With the rising scope of medical device contract manufacturing, industry players are engaging in strategic planning, including mergers and acquisitions to expand their material and human resources. For instance, Integer, an advanced medical device outsourcing company, acquired Pulse Technologies, a contract manufacturing company focused on medical device components and assemblies based in the United States. In another instance, Arrotek and NeedleTech, two medical device firms, are merging under the Arrotek brand to provide MedTech enterprises worldwide, especially in the US and EU, with expanded and improved medical device design and production opportunities.

Impact of Escalating Geopolitical Tensions on Global Medical Device Contract Manufacturing Market

The escalating geopolitical tensions disrupted the growth of the Global Medical Device Contract Manufacturing Market. For instance, Ukraine is a lucrative market for medical device contract manufacturing owing to the high concentration of manufacturers and the presence of a regulatory body that oversees medical device manufacturing in the country. However, Russia's invasion of Ukraine imposed challenges on the healthcare and medical device industries. The Ukrainian Ministry of Health stated in November 2022 that 956 medical institutions had been damaged and 144 more had been destroyed by Russian artillery. The medical device contract manufacturing operations were suspended in parts of Ukraine under attack by Russia due to supply chain disruptions and labor shortages.

Global Medical Device Contract Manufacturing Market

Segmental Coverage

Global Medical Device Contract Manufacturing Market - By Service

Based on service, the Global Medical Device Contract Manufacturing Market is segmented into device development and manufacturing services, quality management services, and assembly services. The assembly service segment accounts for the highest market share, due to stringent regulations and standards for medical device packaging. Medical equipment is packed to reduce the potential harm that contaminants and residues may cause to patients. Therefore, most medical device OEMs outsource their packaging operations.

Global Medical Device Contract Manufacturing Market - By Region

The in-depth research report on the Global Medical Device Contract Manufacturing Market covers the market in a number of major countries across five regions: North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa. North America dominates the Global Medical Device Contract Manufacturing Market. The high production cost of medical devices under OEMs acts as a major driving factor in outsourcing medical device manufacturing in the United States. Additionally, the presence of several leading pharmaceutical and medical device companies and growing R&D investments are anticipated to propel medical device contract manufacturing market growth during the forecast period.

Competitive Landscape

Major players operating in the Global Medical Device Contract Manufacturing Market include SMC Ltd, Viant Medical, West Pharmaceutical Services, Inc., Integer Holdings Corporation, Nipro Corporation, Carclo Plc, Flex Ltd, Sanmina Corporation, Jabil, Inc., and Plexus Corp. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Global Medical Device Contract Manufacturing Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Medical Device Contract Manufacturing Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Product Code: BWC24123

1. Research Framework

1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Executive Summary

3. Global Medical Device Contract Manufacturing Market Insights

3.1. Industry Value Chain Analysis
3.2. DROC Analysis
- 3.2.1. Growth Drivers
  - 3.2.1.1. Increasing Demand and Growing Investments
  - 3.2.1.2. Technological Advancements in Medical Devices
- 3.2.2. Restraints
  - 3.2.2.1. Regulatory Restraints
- 3.2.3. Opportunities
  - 3.2.3.1. Partnerships and Collaborations
- 3.2.4. Challenges
  - 3.2.4.1. Regulatory Compliance
  - 3.2.4.2. Market competition
3.3. Technological Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry

4. Global Medical Device Contract Manufacturing Market: Marketing Strategies

5. Global Medical Device Contract Manufacturing Market Overview

5.1. Market Device & Forecast, 2019-2030
- 5.1.1. By Value (USD Billion)
5.2. Market Share and Forecast
- 5.2.1. By Device
  - 5.2.1.1. IVD Devices
  - 5.2.1.1.1. IVD Equipment
  - 5.2.1.1.2. IVD Consumables
  - 5.2.1.2. Diagnostic Imaging Devices
  - 5.2.1.3. Cardiovascular Devices
  - 5.2.1.4. Drug Delivery Devices
  - 5.2.1.4.1. Syringes
  - 5.2.1.4.2. Pen Injectors
  - 5.2.1.4.3. Others
  - 5.2.1.5. Endoscopy Devices
  - 5.2.1.6. Ophthalmology Devices
  - 5.2.1.7. Orthopedic Devices
  - 5.2.1.8. Dental Devices
  - 5.2.1.9. Others
- 5.2.2. By Service
  - 5.2.2.1. Device Development and Manufacturing Service
  - 5.2.2.1.1. Device Engineering Service
  - 5.2.2.1.2. Process Development Service
  - 5.2.2.1.3. Device Manufacturing Service
  - 5.2.2.2. Quality Management Service
  - 5.2.2.2.1. Inspection & Testing Service
  - 5.2.2.2.2. Packaging Validation Service
  - 5.2.2.3. Assembly Service
- 5.2.3. By Region
  - 5.2.3.1. North America
  - 5.2.3.2. Europe
  - 5.2.3.3. Asia Pacific (APAC)
  - 5.2.3.4. Latin America (LATAM)
  - 5.2.3.5. Middle East and Africa (MEA)

6. North America Medical Device Contract Manufacturing Market

6.1. Market Device & Forecast, 2019-2030
- 6.1.1. By Value (USD Billion)
6.2. Market Share & Forecast
- 6.2.1. By Device
- 6.2.2. By Service
- 6.2.3. By Country
  - 6.2.3.1. United States
  - 6.2.3.1.1. By Device
  - 6.2.3.1.2. By Service
  - 6.2.3.2. Canada
  - 6.2.3.2.1. By Device
  - 6.2.3.2.2. By Service

7. Europe Medical Device Contract Manufacturing Market

7.1. Market Device & Forecast, 2019-2030
- 7.1.1. By Value (USD Billion)
7.2. Market Share & Forecast
- 7.2.1. By Device
- 7.2.2. By Service
- 7.2.3. By Country
  - 7.2.3.1. Germany
  - 7.2.3.1.1. By Device
  - 7.2.3.1.2. By Service
  - 7.2.3.2. United Kingdom
  - 7.2.3.2.1. By Device
  - 7.2.3.2.2. By Service
  - 7.2.3.3. Italy
  - 7.2.3.3.1. By Device
  - 7.2.3.3.2. By Service
  - 7.2.3.4. France
  - 7.2.3.4.1. By Device
  - 7.2.3.4.2. By Service
  - 7.2.3.5. Spain
  - 7.2.3.5.1. By Device
  - 7.2.3.5.2. By Service
  - 7.2.3.6. Belgium
  - 7.2.3.6.1. By Device
  - 7.2.3.6.2. By Service
  - 7.2.3.7. Russia
  - 7.2.3.7.1. By Device
  - 7.2.3.7.2. By Service
  - 7.2.3.8. The Netherlands
  - 7.2.3.8.1. By Device
  - 7.2.3.8.2. By Service
  - 7.2.3.9. Rest of Europe
  - 7.2.3.9.1. By Device
  - 7.2.3.9.2. By Service

8. Asia Pacific Medical Device Contract Manufacturing Market

8.1. Market Device & Forecast, 2019-2030
- 8.1.1. By Value (USD Billion)
8.2. Market Share & Forecast
- 8.2.1. By Device
- 8.2.2. By Service
- 8.2.3. By Country
  - 8.2.3.1. China
  - 8.2.3.1.1. By Device
  - 8.2.3.1.2. By Service
  - 8.2.3.2. India
  - 8.2.3.2.1. By Device
  - 8.2.3.2.2. By Service
  - 8.2.3.3. Japan
  - 8.2.3.3.1. By Device
  - 8.2.3.3.2. By Service
  - 8.2.3.4. South Korea
  - 8.2.3.4.1. By Device
  - 8.2.3.4.2. By Service
  - 8.2.3.5. Australia & New Zealand
  - 8.2.3.5.1. By Device
  - 8.2.3.5.2. By Service
  - 8.2.3.6. Indonesia
  - 8.2.3.6.1. By Device
  - 8.2.3.6.2. By Service
  - 8.2.3.7. Malaysia
  - 8.2.3.7.1. By Device
  - 8.2.3.7.2. By Service
  - 8.2.3.8. Singapore
  - 8.2.3.8.1. By Device
  - 8.2.3.8.2. By Service
  - 8.2.3.9. Vietnam
  - 8.2.3.9.1. By Device
  - 8.2.3.9.2. By Service
  - 8.2.3.10. Rest of APAC
  - 8.2.3.10.1. By Device
  - 8.2.3.10.2. By Service

9. Latin America Medical Device Contract Manufacturing Market

9.1. Market Device & Forecast, 2019-2030
- 9.1.1. By Value (USD Billion)
9.2. Market Share & Forecast
- 9.2.1. By Device
- 9.2.2. By Service
- 9.2.3. By Country
  - 9.2.3.1. Brazil
  - 9.2.3.1.1. By Device
  - 9.2.3.1.2. By Service
  - 9.2.3.2. Mexico
  - 9.2.3.2.1. By Device
  - 9.2.3.2.2. By Service
  - 9.2.3.3. Argentina
  - 9.2.3.3.1. By Device
  - 9.2.3.3.2. By Service
  - 9.2.3.4. Peru
  - 9.2.3.4.1. By Device
  - 9.2.3.4.2. By Service
  - 9.2.3.5. Rest of LATAM
  - 9.2.3.5.1. By Device
  - 9.2.3.5.2. By Service

10. Middle East & Africa Medical Device Contract Manufacturing Market

10.1. Market Device & Forecast, 2019-2030
- 10.1.1. By Value (USD Billion)
10.2. Market Share & Forecast
- 10.2.1. By Device
- 10.2.2. By Service
- 10.2.3. By Country
  - 10.2.3.1. Saudi Arabia
  - 10.2.3.1.1. By Device
  - 10.2.3.1.2. By Service
  - 10.2.3.2. UAE
  - 10.2.3.2.1. By Device
  - 10.2.3.2.2. By Service
  - 10.2.3.3. Qatar
  - 10.2.3.3.1. By Device
  - 10.2.3.3.2. By Service
  - 10.2.3.4. Kuwait
  - 10.2.3.4.1. By Device
  - 10.2.3.4.2. By Service
  - 10.2.3.5. South Africa
  - 10.2.3.5.1. By Device
  - 10.2.3.5.2. By Service
  - 10.2.3.6. Nigeria
  - 10.2.3.6.1. By Device
  - 10.2.3.6.2. By Service
  - 10.2.3.7. Algeria
  - 10.2.3.7.1. By Device
  - 10.2.3.7.2. By Service
  - 10.2.3.8. Rest of MEA
  - 10.2.3.8.1. By Device
  - 10.2.3.8.2. By Service

11. Competitive Landscape

11.1. List of Key Players and Their Offerings
11.2. Global Medical Device Contract Manufacturing Market Share Analysis, 2023
11.3. Competitive Benchmarking, By Operating Parameters
11.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)

12. Impact of Escalating Geopolitical Tensions in Global Medical Device Contract Manufacturing Market

13. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)

13.1. SMC Ltd
13.2. Viant Medical
13.3. West Pharmaceutical Services, Inc.
13.4. Integer Holdings Corporation
13.5. Nipro Corporation
13.6. Carclo Plc
13.7. Flex Ltd
13.8. Sanmina Corporation
13.9. Jabil, Inc.
13.10. Plexus Corp
13.11. Other Prominent Players

14. Key Strategic Recommendations

15. Research Methodology

15.1. Qualitative Research
- 15.1.1. Primary & Secondary Research
15.2. Quantitative Research
15.3. Market Breakdown & Data Triangulation
- 15.3.1. Secondary Research
- 15.3.2. Primary Research
15.4. Breakdown of Primary Research Respondents, By Region
15.5. Assumptions & Limitations