Global Medical Device Contract Manufacturing Market Size, Trends and Growth opportunity, By Device Type (IVD Devices, Drug Delivery Devices, Diagnostic Imaging Devices, Patient Monitoring Devices, and Others), By Service (Device Development and Manufacturing Services, Quality Management Services and Final Goods Assembly Services), By Application (Oncology, Neurovascular, Urology & Gynecology, Radiology Cardiovascular, Orthopedic, and Others), Regional Outlook, Competitive Market Share & Forecast, 2022 – 2027.
Report ID : IR100976 | Industries : Healthcare | Published On :March 2024 | Page Count : 4
Global Medical Device Contract Manufacturing Market Size, Trends and Growth opportunity, By Device Type (IVD Devices, Drug Delivery Devices, Diagnostic Imaging Devices, Patient Monitoring Devices, and Others), By Service (Device Development and Manufacturing Services, Quality Management Services and Final Goods Assembly Services), By Application (Oncology, Neurovascular, Urology & Gynecology, Radiology Cardiovascular, Orthopedic, and Others), Regional Outlook, Competitive Market Share & Forecast, 2022 – 2027.
Global Medical Device Contract Manufacturing Market
The Global Medical Device Contract Manufacturing Market was valued at USD 69 billion in 2021 and is expected to reach USD 117.8 billion by 2027, at a CAGR 8.78% from 2022-2027.
Medical Device Contract Manufacturing is defined as a process where a company that owns the idea (sole proprietorship) outsources manufacturing to another medical device manufacturing firm. The medical device contract manufacturing is used for the benefits of cost optimization, regulatory guidance, device upgrade, and expansion. It is the outsourcing of part of the manufacturing process of a product to a third-party.
Market Drivers
The increasing pressure of Original Equipment Manufacturers (OEMs) of medical devices to cut production costs is what is boosting the activity in the worldwide medical device contract manufacturing industry.
Furthermore, macroeconomic reasons for example, an aging global population and a rise in the use of minimally invasive surgery are driving demand for medical equipment and the global medical device contract manufacturing industry.
Market Restraints
The high cost of maintaining the medical device may increase, which can restrain the market's expansion overall throughout the projection period. The development of the medical device contract manufacturing unit is severely constrained by the excessive cost of medical devices and the high cost of equipment maintenance operations.
Market Segmentation
The Global Medical Device Contract Manufacturing Market is segmented into device type, service type, application type, and region.
Based on the Device segment the market is segmented into; IVD Devices, Diagnostic Imaging Devices, Cardiovascular Devices, Drug Delivery Devices, Endoscopy Devices, Ophthalmology Devices, Orthopedic Devices, Dental Devices, Other Devices.
Regional Analysis
The Global Medical Device Contract Manufacturing Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The North American region is expected to dominate the Medical Device Contract Manufacturing market. The growth of the region is mainly driven by increasing in-house manufacturing costs which encourages medical device firms to adopt contract manufacturing as cost-cutting measures. Further, presence of leading medical device players is expected to drive the U.S. medical device contract manufacturing market.
Key Players
Various key players are discussed into the Global Medical Device Contract Manufacturing Market Report including: West Pharmaceutical Services Inc., Flex Ltd., Integer Holdings Corporation, Sanmina Corporation, Celestica International Lp., Nordson Corporation., Plexus Corp., Benchmark Electronics Inc., TE Connectivity, Forefront Medical Technologies, Other key players)
Market Taxonomy
By Device Type
• IVD Devices
• Drug Delivery Devices
• Diagnostic Imaging Devices
• Patient Monitoring Devices
• Therapeutic Patient Assistive Devices
• Minimally Access Surgical Instruments
• Cardiovascular Devices
• Endoscopy Devices
• Ophthalmology Devices
• Orthopedic Devices
• Dental Devices
• Others
By Service
• Device Development and Manufacturing Services
• Quality Management Services
• Final Goods Assembly Services
• Assembly Services
By Application
• Laparoscopy
• Pulmonary
• Urology
• Gynecology
• Cardiovascular
• Orthopedic
• Oncology
• Neurovascular
• Radiology
• Others
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
Global Medical Device Contract Manufacturing Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Medical Device Contract Manufacturing Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Medical Device Contract Manufacturing Market, By Device Type
5.1 Y-o-Y Growth Comparison, By Device Type
5.2 Global Medical Device Contract Manufacturing Market Share Analysis, By Device Type
5.3 Global Medical Device Contract Manufacturing Market Size and Forecast, By Device Type
5.3.1 IVD Devices
5.3.2 Drug Delivery Devices
5.3.3 Diagnostic Imaging Devices
5.3.4 Patient Monitoring Devices
5.3.5 Therapeutic Patient Assistive Devices
5.3.6 Minimally Access Surgical Instruments
5.3.7 Cardiovascular Devices
5.3.8 Endoscopy Devices
5.3.9 Ophthalmology Devices
5.3.10 Orthopedic Devices
5.3.11 Dental Devices
5.3.12 Others
6 Global Medical Device Contract Manufacturing Market, By Service
6.1 Y-o-Y Growth Comparison, By Service
6.2 Global Medical Device Contract Manufacturing Market Share Analysis, By Service
6.3 Global Medical Device Contract Manufacturing Market Size and Forecast, By Service
6.3.1 Device Development and Manufacturing Services
6.3.2 Quality Management Services
6.3.3 Final Goods Assembly Services
6.3.4 Assembly Services
7 Global Medical Device Contract Manufacturing Market, By Application
7.1 Y-o-Y Growth Comparison, By Application
7.2 Global Medical Device Contract Manufacturing Market Share Analysis, Application
7.3 Global Medical Device Contract Manufacturing Market Size and Forecast, By Application
7.3.1 Laparoscopy
7.3.2 Pulmonary
7.3.3 Urology
7.3.4 Gynecology
7.3.5 Cardiovascular
7.3.6 Orthopedic
7.3.7 Oncology
7.3.8 Neurovascular
7.3.9 Radiology
7.3.10 Others
8 Global Medical Device Contract Manufacturing Market, By Region
8.1 Global Medical Device Contract Manufacturing Market Share Analysis, By Region
8.2 Global Medical Device Contract Manufacturing Market Share Analysis, By Region
8.3 Global Medical Device Contract Manufacturing Market Size and Forecast, By Region
9 North America Medical Device Contract Manufacturing Market Analysis and Forecast (2022-2027)
9.1 Introduction
9.2 North America Medical Device Contract Manufacturing Market Share Analysis, By Device Type
9.3 North America Medical Device Contract Manufacturing Market Share Analysis, By Service
9.4 North America Medical Device Contract Manufacturing Market Size and Forecast, By Application
9.5 North America Medical Device Contract Manufacturing Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10 Europe Medical Device Contract Manufacturing Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 Europe Medical Device Contract Manufacturing Market Share Analysis, By Device Type
10.3 Europe Medical Device Contract Manufacturing Market Share Analysis, By Service
10.4 Europe Medical Device Contract Manufacturing Market Size and Forecast, By Application
10.5 Europe Medical Device Contract Manufacturing Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.5.4 Rest of Europe
11 Asia Pacific Medical Device Contract Manufacturing Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Asia Pacific Medical Device Contract Manufacturing Market Share Analysis, By Device Type
11.3 Asia Pacific Medical Device Contract Manufacturing Market Share Analysis, By Service
11.4 Asia Pacific Medical Device Contract Manufacturing Market Size and Forecast, By Application
11.5 Asia Pacific Medical Device Contract Manufacturing Market Size and Forecast, By Country
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4 Rest of Asia Pacific
12 Latin America Medical Device Contract Manufacturing Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Latin America Medical Device Contract Manufacturing Market Share Analysis, By Device Type
12.3 Latin America Medical Device Contract Manufacturing Market Share Analysis, By Service
12.4 Latin America Medical Device Contract Manufacturing Market Size and Forecast, By Application
12.5 Latin America Medical Device Contract Manufacturing Market Size and Forecast, Country
12.5.1 Brazil
12.5.2 Rest of Latin America
13 Middle East Medical Device Contract Manufacturing Market Analysis and Forecast (2022-2027)
13.1 Introduction
13.2 Middle East Medical Device Contract Manufacturing Market Share Analysis, By Device Type
13.3 Middle East Medical Device Contract Manufacturing Market Share Analysis, By Service
13.4 Middle East Medical Device Contract Manufacturing Market Size and Forecast, By Application
13.5 Middle East Medical Device Contract Manufacturing Market Size and Forecast, By Country
13.5.1 Saudi Arabia
13.5.2 UAE
13.5.3 Egypt
13.5.4 Kuwait
13.5.5 South Africa
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
15.1 West Pharmaceutical Services Inc.
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2 Flex Ltd.
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.25 Key Market Developments
15.2.6 Key Strategies
15.3 Integer Holdings Corporation
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Sanmina Corporation
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 Celestica International Lp
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 Nordson Corporation
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Plexus Corp.
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 Benchmark Electronics Inc.,
15. 8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 Benchmark Electronics Inc.
15.9.1 Overview
15.9.2 Offerings
15.4.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies
15.10 TE Connectivity
15.10.1 Overview
15.10.2 Offerings
15.10.3 Key Financials
15.10.4 Business Segment & Geographic Overview
15.10.5 Key Market Developments
15.10.6 Key Strategies