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 of 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 advantages of medical device contract manufacturing include cost reduction, regulatory guidance, device expansion, and upgrade. It involves contracting out a portion of a product's manufacturing to a third party.
Market Drivers
The increasing pressure on 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
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, and Other Devices.
Regional Analysis
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 encourage medical device firms to adopt contract manufacturing as a cost-cutting measure. Further, the 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 in 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 to 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
Global Medical Device Contract Manufacturing Market toc
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
