Medical Device Contract Manufacturing Market To Reach Around $ 103.44 Billion By 2025

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NEW YORK, 25 October 2021 / PRNewswire / – Zion Market Research has released a new report titled ‘Medical device contract manufacturing market by device type (in vitro diagnostic medical devices, diagnostic imaging and medical equipment, drug delivery devices, patient monitoring devices, minimal access surgical instruments, medical devices, therapeutic assistance to patients and others), type of manufacture (raw materials), electronics and finished products), and services (development of prototypes, manufacture of finished devices, assembly and packaging, testing and regulatory support services, molding and molding and Others) and Applications (Cardiovascular, Orthopedic, Neurovascular, Pulmonary, Oncology, Laparoscopy, Urology and Gynecology, Radiology and Others): Global Industry Outlook, Comprehensive Analysis and Forecast, 2019-2025 “.

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According to the report, the global demand for the medical device contract manufacturing market was estimated to be around $ 51.35 billion in 2018, and should generate sales of around $ 103.44 billion by the end of 2025, with a CAGR of around 10.56% between 2019 and 2025.

Contract production of medical devices requires the support of third party companies in the manufacture of medical devices. Contract manufacturing of medical devices allows companies to manufacture products based on the latest innovations without deviating from their core businesses. Contract manufacturing of medical devices allows companies to focus on their core businesses such as marketing drugs or services, which in fact drives the growth of the market. The medical device contract manufacturing industry is seeing a huge increase due to the benefits, which means lower overall costs and less time it takes for the product to hit the market. In addition, companies do not need to set up production units in different countries to expand their product range. By having their products manufactured by medical device subcontractors located in different countries, companies will meet the demands. This way, they can use their capital investment for their production.

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The medical device contract manufacturing market is driven by increasing pressure on original equipment manufacturers of medical devices to reduce production costs and delay the launch of the latest products. The growing demand for non-invasive surgical procedures is also propelling the contract research industry for endoscopic devices and the production of surgical instruments. The lack of space for in-house production is stimulating the medium and small business market. The aging population offers opportunities for contract manufacturing for many products, such as orthopedic implants and instruments. The number of aging populations around the world is increasing.

The medical device contract manufacturing market is segmented on the basis of device type, manufacturing type, services, applications, and region. Based on device type, the market is divided into in vitro diagnostic medical devices, diagnostic imaging and medical equipment, drug delivery devices, patient monitoring devices, minimal access surgical instruments, therapeutic assist devices to patients and others. The growth of the IVD devices market segment goes hand in hand with the increasing number of hospitals and clinical laboratories in developing countries, increasing the number of IVD tests performed globally, technological advancements such as electronic integration with high throughput capabilities and automation of life science and advanced testing. The type of manufacturing segment is segmented into raw materials, electronics and finished goods. The services segment is divided into prototype development, finished device manufacturing, assembly and packaging, testing and regulatory support services, molding and molding and others. Based on the applications, the market is segmented into cardiovascular, orthopedic, neurovascular, pulmonary, oncology, laparoscopy, urology and gynecology, radiology, and others.

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Regional segmentation includes current and forecast demand for Asia Pacific, North America, Latin America, Europe, and Middle East & Africa with its new bifurcation in the big countries. North America holds the largest market share in the world for contract manufacturing of medical devices, with the United States being the country generating the most revenue. Growing demand for innovative and reliable medical devices is driving the growth of the market in the United States, along with increasing healthcare spending, growing medical needs of the aging population, and continued growth in the number of surgery cases.

Some of the players included in the medical device contract manufacturing market are Flextronics International, LTD., Jabil Inc., Benchmark Electronics, Inc., Integer Holdings Corporation (Greatbatch), West Pharmaceutical Services, Inc., Tecomet, Inc. , Nortech Systems, TE Connectivity (Creganna Medical), Forefront Medical Technologies, and Nordson Corporation. Among others.

The report segments the medical device contract manufacturing market as follows:

Global Medical Device Contract Manufacturing Market: Device Type Segment Analysis

  • In vitro diagnostic medical devices

  • Diagnostic imaging and medical equipment

  • Drug delivery devices

  • Patient monitoring devices

  • Minimal Access Surgical Instruments

  • Therapeutic patient assistance devices

  • Others

Global Medical Device Contract Manufacturing Market: Manufacturing Segment Type Analysis

  • Raw materials

  • Electronic

  • Finished products

Global Medical Device Contract Manufacturing Market: Services Segment Analysis

Global Medical Device Contract Manufacturing Market: Application Segment Analysis

  • Cardiovascular

  • Orthopedic

  • Neurovascular

  • Pulmonary

  • Oncology

  • Laparoscopy

  • Urology & Gynecology

  • Radiology

  • Others

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By region

North America

Europe

  • France

  • Great Britain

  • Spain

  • Germany

  • Italy

  • Rest of Europe

Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • South East Asia

  • Rest of Asia Pacific

Latin America

  • Brazil

  • Mexico

  • Rest of Latin America

Middle East & Africa

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