Medical Device Contract Manufacturing Market Insight to 2027

Medical Device Contract Manufacturing Market Insight to 2027

Apr 19, 2021, 6:07:14 AM Business

The global medical device contract manufacturing market size is projected to be valued at USD 4.5 billion by 2027, expanding at a CAGR of 5% from 2020 to 2027.

The latest report on medical device contract manufacturing Market by Precedence Research, Market Insight, Overview By Industry Top Manufactures, Size, Trends, Industry Growth Analysis & Forecast till 2027. The research report offers complete information related to market growth, demand and supply, opportunities and research updates in the medical device contract manufacturing Market.

The report analyzes and forecasts the medical device contract manufacturing market at a global and regional level. The study includes drivers and restraints of this market. The study provides an analysis of the global medical device contract manufacturing Market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2020 is considered as the base year.

Growth Factors

Growth of medical device industry and appearance of industry 4.0 are the major factor expected to propel the growth of medical device contract manufacturing in near future. Furthermore, growing pressure on medical device OEMs to reduce production costs and delay in the launch of new products is expected to fuel the demand for medical device contract manufacturing market in years to come. However, consolidation in the market of medical equipment is predicted to limit the growth of global medical device contract manufacturing market in analysis period. Even so, aging population provides the plenty of opportunities for many products as orthopedic implants and instruments in near future.

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Report Highlights 

  • Technological advancement in medical device industry coupled with advent of Industry 4.0 is predicted to spur the growth of North America medical device contract manufacturing market
  • In 2019, device development and manufacturing services segment held the majority of revenue share and estimated to maintain the its dominance throughout coming years.
  • Mergers, acquisitions and new product releases are some of the approaches embraced by key players. Wright Medical Group, Inc and Tornier N.V. they also entered into a partnership agreement to improve business growth and expand the geographic scope of their upper and lower extremity product range, which has led to a rise in the demand for orthopedic products and will lead to drive the orthopedic application segment in near future.
  • Rising spending on healthcare in Germany and growing patient monitoring devices in France and UK is expected to drive global medical device contract manufacturing market in Europe
  • Disruption caused by Covid-19 to international supply chains has led to high shortages of critical/essential medical devices. Ramping up domestic production capacity of medical supplies is the major priority for most of the countries as Covid-19 spreads. In addition, domestic manufacturing of essential medical devices can not only overcome trade barriers, but also ensure quality of product and market solidity.

Key Players 

 Some of the prominent players in the medical device contract manufacturing market include: 

  • Flex, Ltd.
  • Nortech Systems, Inc.
  • Sanmina Corporation
  • Nipro Corporation
  • Jabil Inc.
  • Nemera Development S.A.
  • TE Connectivity Ltd.
  • Kimball Electronics, Inc.
  • Viant Medical
  • Celestica International Lp.
  • Plexus Corp.
  • SMC Ltd.
  • Phillips-Medisize Corporation
  • Benchmark Electronics Inc.
  • Integer Holdings Corporation
  • Gerresheimer AG
  • Consort Medical PLC
  • Tessy Plastics Corp
  • Tecomet, Inc.

Market Segmentation

By Device Type

  • IVD Devices
  • Drug Delivery Devices
  • Diagnostic Imaging Devices
  • Patient Monitoring Devices
  • Therapeutic Patient Assistive Devices
  • Minimally Access Surgical Instruments
  • Others

By Service

  • Device Development and Manufacturing Services
  • Quality Management Services
  • Final Goods Assembly Services

By Application

  • Laparoscopy
  • Pulmonary
  • Urology & Gynecology
  • Cardiovascular
  • Orthopedic
  • Oncology
  • Neurovascular
  • Radiology
  • Others

Regional Segmentation

  • North America (United States, Canada)
  • Europe (Germany, France, UK, Italy, Russia and Rest of Europe)
  • Asia-Pacific (China, Japan, India, Southeast Asia, Korea and Rest of Asia Pacific)
  • Latin America (Brazil and Rest of Latin America)
  • The Middle East and Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)

What Our Report Offers:

1. medical device contract manufacturing Market estimates of all the key segments, sub-segments, and the regional markets from 2020 to 2027.

2. Market Trends (Drivers, Restraints, Opportunities, Threats, Challenges, Investment Analysis, and Key Proposals).

3. Market share appraisals for all the local and the global regional segments.

4. Strategic recommendations in medical device contract manufacturing key business sections in light of the market estimations.

5. Competitive analysis detailing the key growth trends and inclinations.

6. Market share and size of all the foremost industry players.

7. Strategic proposals for the new participants.

8. Company profiling with comprehensive approaches and methodologies, financials, and latest technological developments.

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About Us

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings.

We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, aerospace and defence, among different ventures present globally. We endeavour to give our clients latest insights on upcoming technologies, new developing markets, dynamically changing business conditions and most recent business-driven applications.

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