Market Research Report
Global Medical Device Contract Manufacturing Market by Device Type, Class of Device, by service type, by packaging and assembly type, Regional Forecasts 2021-2027
|Published by||Bizwit Research & Consulting LLP||Product code||1019297|
Delivery time: 2-3 business days
|Global Medical Device Contract Manufacturing Market by Device Type, Class of Device, by service type, by packaging and assembly type, Regional Forecasts 2021-2027|
|Published: July 17, 2021||Content info:||
Global Medical Device Contract Manufacturing Market is valued approximately at USD 59.1 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 11.5% over the forecast period 2021-2027. Medical devices contract manufacturing is attracting the attention of a third-party companies to produce medical equipment. Medical device contract manufacturing enables companies to produce devices based on cutting-edge technology while remaining focused on their competencies. The market is driven by growing healthcare expenditure and growth in the medical devices market. For instance, New healthcare initiatives have been launched by governments in emerging areas, such as Ayushman Bharat - National Health Protection Scheme (AB-PMJAY) in India and Healthy China 2030 in China. Medical device demand in developing nations is being driven by rising healthcare expenditures, the rising frequency of different chronic and infectious illnesses, and the growing demand for home healthcare. Furthermore, contract manufacturing of many products, such as orthopedic implants and instruments, is becoming more common as the population ages. The number of people above the age of 65 is on the rise all around the world. According to a World Health Organization estimate, the global geriatric population is anticipated to reach 1.5 billion by 2050, accounting for around 16% of the global population. Furthermore, there is a connection between ageing and a rise in the occurrence of diseases such as cardiovascular, neurological, and orthopedic problems. As a result, a growth in the geriatric population is projected to benefit the market. However, consolidation in the medical devices market, may impede market growth over the forecast period of 2021-2027.
North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are the regions in which the medical device contract manufacturing market is classified. The medical device contract manufacturing market in Asia Pacific has the largest market share. The APAC region's dominance is primarily due to lower raw material and labour costs compared to developed countries, rising demand for medical devices as healthcare infrastructure enhances, adoption of technologically advanced products, and the presence of less stringent regulatory than most developed countries.
Major market player included in this report are:
Integer Holdings Corporation
TE Connectivity Ltd.
Benchmark Electronics Inc.
Kimball Electronics, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Device type:
Diagnostic Imaging Devices
Drug Delivery Devices
By Service type:
Device Development and Manufacturing Services
Quality Management Services
By Packaging and assembly type:
Primary & Secondary Packing
Other Packaging and Assembly Services
By Class of Device:
Class II Medical Devices
Class I Medical Devices
Class III Medical Devices
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.
Target Audience of the Global Medical Device Contract Manufacturing Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
List of figures