Medical Device Outsourcing Market To Reach USD 208.36 Billion By 2026 | Key Players: Pace Analytical Services; Jabil; Wuxi Apptec; PPD; Intertek Group and Others

April 23 15:55 2021
Medical Device Outsourcing Market To Reach USD 208.36 Billion By 2026 | Key Players: Pace Analytical Services; Jabil; Wuxi Apptec; PPD; Intertek Group and Others

Reports And Data
Increasing demand for medical devices combined with rising price competition and the requirement to reduce cost, high prevalence of chronic disorders, availability of low-cost labor and comparative less expensive infrastructure cost are key factors contributing to high CAGR during the forecast period. Medical Device Outsourcing Market Size – USD 96.64 Billion in 2018, Market Growth – CAGR of 10.1%, Market Trends – Product launches and research for advanced products

According to the current analysis of Reports and Data, the global medical device outsourcing market was valued at USD 96.64 Billion in 2018 and is expected to reach USD 208.36 Billion by the year 2026, at a CAGR of 10.1%. Medical devices outsourcing is the process of contracting a third party for business purposes, which includes manufacturing, product designing, prototyping, and supply chain management. This process enables the original equipment manufacturers to reduce the labor cost and production time-scale, thus increasing its demand in the market. Outsourcing mainly allows companies to focus on core activities, which results in industrial development. However, the threat of loss of confidential information is expected to dampen industrial growth.

Regulatory bodies emphasize on the quality of the healthcare devices provided to the public, encouraging industry players to offer various services like regulatory consulting. The budget scrutiny in developed countries, pricing pressure, and changes in reimbursement schemes are some of the major factors which help to increase the adoption of cost containment measures by the Original Equipment Manufacturers and thus is expected to boost this industryto emerging countries like India and China. More focus on research and development is one of the key growth models that companies receiving outsourced services in the global medical devices outsourcing industry are employing for business development. The threat of loss of confidential information and inadequate reimbursement policies can be a restraint to this industry.

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Further key findings from the report suggest

  • In August 2016, Cirtec Medical completed the acquisition of Stellar Technologies, Inc., a healthcare machining and component manufacturer, based in Minnesota, the U.S. The acquisition was made to enhance the technology, specifically for the customers in the high-growth neuromodulation industry.
  • The major factor leading to the growth of the medical device outsourcing industry is the need to curb the rising cost of medical equipment and high-quality products that clears the stringent regulatory requirements.
  • The geriatric population is more prone to chronic and age-related diseases as well as musculoskeletal injuries, hence the considerable increase in geriatric population is creating demand for medical device outsourcing products.
  • The medical device outsourcing market has shown growth by Class II equipment that primarily includes non-invasive and include x-ray machines, PACS, infusion pumps, powered wheelchairs, surgical needles, and suture material, surgical drapes, and acupuncture needles.
  • The landscape of manufacturing has rapidly changed over the past few years, as major OEMs have combined complementary skills to gain greater market share. OEMs are choosing to outsource technical and production services to trusted partners to reduce their manufacturing footprint. Outsourcing the production of various allows manufacturers to be more dynamic and cost-effective in their production.
  • Contract manufacturing led the service segment in 2018 owing to the growing trend of outsourcing by OEM to third-party manufacturers, especially in emerging countries.
  • Based on service, Quality assurance is projected to exhibit the fastest CAGR of 12.5% over the forecast period.
  • In the long‐term, firms expect growth opportunities to be driven by aging populations around the world. This fundamental change in population demographics will increase the need for healthcare and healthcare-related procedures, as people are living longer and are demanding a higher quality of life. Furthermore, although overall growth in more established markets in the U.S. and Europe has slowed, the emerging ‘BRIC’ countries of Brazil, Russia, India and China, and their growing numbers of middle‐class, are now ramping up demand for med‐tech products and services. All of these factors are contributing to a positive outlook for the medical device outsourcing industry.
  • Asia Pacific region is showing the fastest growing segment, which is expected to reach 42.8 billion in 2026 with CAGR of 9.9% due to lower cost and increased availability of skilled human resources.
  • Product testing and sterilization are valued at 11.9 billion in 2018 and expected to reach 24.7 billion in 2026.
  • Some of the key companies present in the market are Toxikon Inc.; Eurofins Scientific; SGS SA; MAPI; Freyr Solutions; Integer; Celestica; Pace Analytical Services; Jabil; Wuxi Apptec; PPD; Intertek Group; Flextronics; Tecomet; and Sanmina.

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 For the purpose of this report, Reports and Data has segmented the medical device outsourcing market on the basis of product, applications, services and region:

 

Product (Revenue, USD Million; 2016–2026)

  • Finished goods
  • Electronics
  • Raw Materials

Devices (Revenue, USD Million; 2016–2026)

  • Class I Devices
  • Class II Devices
  • Class III Devices

Application (Revenue, USD Million; 2016–2026)

  • Cardiology
  • Diagnostic imaging
  • Orthopedic
  • IVD
  • Ophthalmic
  • General and plastic surgery
  • Drug delivery
  • Dental
  • Endoscopy
  • Diabetes care
  • Others

Services (Revenue, USD Million; 2016–2026)

  • Contract manufacturing
  • Quality Assurance
  • Regulatory Affairs Services
  • Product Design and Development Services
  • Product Testing & Sterilization Services
  • Product Implementation Services
  • Product Upgrade Services
  • Product Maintenance Services

Regional Outlook (Revenue in USD Million; 2016–2026)

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/medical-device-outsourcing-market

 Table of Content:

Chapter 1. Market Synopsis
    1.1. Market Definition
    1.2. Research Scope & Premise
    1.3. Methodology
    1.4. Market Estimation Technique
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2018 – 2026
Chapter 3. Indicative Metrics
    3.1. Rising cost of medical equipment and high-quality products
    3.2. Rising demand for advanced products
    3.3. Worldwide cases of chronical diseases
    3.4. Reduction of production time
Chapter 4. Medical device outsourcing Market Segmentation & Impact Analysis
    4.1. Medical device outsourcing Segmentation Analysis
    4.2. Medical device outsourcing Market Value Chain Analysis, 2016-2026
    4.3. Regulatory framework
    4.4. Medical device outsourcing Market Impact Analysis
         4.4.1. Market driver analysis
                 4.4.1.1. Increased focused on research and development
                 4.4.1.2. large number of medical device manufacturers
        4.4.2. Market restraint analysis
                 4.4.2.1. Lack of awareness
                 4.4.2.2. Availability of generics
    4.5. Key opportunities prioritized
    4.6. Medical device outsourcing Pricing Analysis
    4.7. Industry analysis – Porter’s
    4.8. Medical device outsourcing PESTEL Analysis
Chapter 5. Medical device outsourcing Market by Product Insights & Trends
    5.1. Medical device outsourcing Product dynamics & Market Share, 2018 & 2026
    5.2. Finished Goods
          5.2.1. Market estimates and forecast, 2016 – 2026 (USD Million)
          5.2.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
    5.3. Electronics
          5.3.1. Market estimates and forecast, 2016 – 2026 (USD Million)
          5.3.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
    5.4. Raw Materials
          5.4.1. Market estimates and forecast, 2016 – 2026 (USD Million)
          5.4.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
Chapter 6. Medical device outsourcing Market by Devices Insights & Trends
    6.1. Medical device outsourcing Application dynamics & Market Share, 2018 & 2026
    6.2. Class I devices
          6.2.1. Market estimates and forecast, 2016 – 2026 (USD Million)
          6.2.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
    6.3. Class II devices
          6.3.1. Market estimates and forecast, 2016 – 2026 (USD Million)
          6.3.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
    6.4. Class III devices
          6.4.1. Market estimates and forecast, 2016 – 2026 (USD Million)
          6.4.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
Chapter 7. Medical device outsourcing Market by application Insights & Trends
    7.1. Medical device outsourcing Services dynamics & Market Share, 2018 & 2026
    7.2. Cardiology
          7.2.1. Market estimates and forecast, 2016 – 2026 (USD Million)
          7.2.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
    7.3. Diagnostic Imaging
          7.3.1. Market estimates and forecast, 2016 – 2026 (USD Million)
          7.3.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
    7.4. Orthopedic
          7.4.1. Market estimates and forecast, 2016 – 2026 (USD Million)
          7.4.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
    7.5. IVD
          7.5.1. Market estimates and forecast, 2016 – 2026 (USD Million)
          7.5.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
    7.6. Ophthalmic
          7.6.1. Market estimates and forecast, 2016 – 2026 (USD Million)
          7.6.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
    7.7. General and plastic Surgery
          7.7.1. Market estimates and forecast, 2016 – 2026 (USD Million)
          7.7.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
    7.8. Drug Delivery
           7.8.1. Market estimates and forecast, 2016 – 2026 (USD Million)
           7.8.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
    7.9. Dental
          7.9.1. Market estimates and forecast, 2016 – 2026 (USD Million)
          7.9.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
    7.10. Endoscopy
           7.10.1. Market estimates and forecast, 2016 – 2026 (USD Million)
           7.10.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
    7.11. Diabetes care
           7.11.1. Market estimates and forecast, 2016 – 2026 (USD Million)
           7.11.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
    7.12. Others
           7.12.1. Market estimates and forecast, 2016 – 2026 (USD Million)
           7.12.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
Chapter 8. Medical device outsourcing Market by Services Insights & Trends
    8.1. Medical device outsourcing Application dynamics & Market Share, 2018 & 2026
    8.2. Contract manufacturing
          8.2.1. Market estimates and forecast, 2016 – 2026 (USD Million)
          8.2.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
    8.3. Quality Assurance
          8.3.1. Market estimates and forecast, 2016 – 2026 (USD Million)
          8.3.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
    8.4. Regulatory affairs services
          8.4.1. Market estimates and forecast, 2016 – 2026 (USD Million)
          8.4.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
    8.5. Product design and development services
          8.5.1. Market estimates and forecast, 2016 – 2026 (USD Million)
          8.5.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
    8.6. Product testing and sterilization Services
           8.6.1. Market estimates and forecast, 2016 – 2026 (USD Million)
           8.6.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
    8.7. Product implementation services
          8.7.1. Market estimates and forecast, 2016 – 2026 (USD Million)
          8.7.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
    8.8. Product upgrade services
          8.8.1. Market estimates and forecast, 2016 – 2026 (USD Million)
          8.8.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
    8.9. Product maintenance services
          8.9.1. Market estimates and forecast, 2016 – 2026 (USD Million)
          8.9.2. Market estimates and forecast, by region, 2016 – 2026 (USD Million)
Chapter 9. Medical device outsourcing Market Regional Outlook
    9.1. Medical device outsourcing Market share by region, 2018 & 2026
    9.2. North America
          9.2.1. North America Medical device outsourcing Market estimates and forecast, 2016 – 2026, (USD Million)
          9.2.2. North America Medical device outsourcing Market estimates and forecast by Product, 2016 – 2026, (USD Million)
          9.2.3. North America Medical device outsourcing Market estimates and forecast by Application, 2016 – 2026, (USD Million)
          9.2.4. North America Medical device outsourcing Market estimates and forecast by Devices, 2016 – 2026, (USD Million)
          9.2.5. North America Medical device outsourcing Market estimates and forecast by Services, 2016 – 2026, (USD Million)
          9.2.6. U.S.

Chapter 10. Competitive Landscape

    10.1. Market Revenue Share by Manufacturers

    10.2. Manufacturing Cost Breakdown Analysis

    10.3. Mergers & Acquisitions

    10.4. Strategy Benchmarking

    10.5. Vendor Landscape

Chapter 11. Company Profiles

    11.1. Eurofins Scientific

            11.1.1. Company Overview

            11.1.2. Financial Performance

            11.1.3. Product Length Benchmarking

            11.1.4. Strategic Initiatives

    11.2. Integer

            11.2.1. Company Overview

            11.2.2. Financial Performance

            11.2.3. Product Length Benchmarking

            11.2.4. Strategic Initiatives

    11.3. Plexus

           11.3.1. Company Overview

           11.3.2. Financial Performance

           11.3.3. Product Length Benchmarking

           11.3.4. Strategic Initiatives

    11.4. Pace Analytical Services

           11.4.1. Company Overview

           11.4.2. Financial Performance

           11.4.3. Product Length Benchmarking

           11.4.4. Strategic Initiatives

    11.5. Tecomet

           11.5.1. Company Overview

           11.5.2. Financial Performance

           11.5.3. Product Length Benchmarking

Continue…

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