Chicago, June 09, 2023 (GLOBE NEWSWIRE) -- The Medical Device Outsourced Manufacturing industry is poised for significant growth and innovation in the near future. As medical device manufacturers face increasing demands for cost-effective and high-quality products, they are turning to outsourced manufacturing partners to meet these challenges. The industry's key stakeholders, including medical device manufacturers, contract manufacturers, and suppliers, are collaborating to leverage advanced technologies, streamline production processes, and ensure compliance with regulatory standards. Outsourced manufacturing offers several advantages, such as access to specialized expertise, scalability, reduced time to market, and cost efficiencies. With advancements in automation, robotics, and digitalization, the industry is witnessing a shift towards smart manufacturing practices and increased customization capabilities. Additionally, the rising demand for complex and miniaturized medical devices, along with the growing trend of personalized healthcare, is driving the need for outsourced manufacturing services. This industry is poised to play a vital role in enabling medical device manufacturers to bring innovative products to market faster, enhance patient care, and navigate the evolving healthcare landscape.
Medical Device Outsourced Manufacturing market in terms of revenue was estimated to be worth $29.3 billion in 2021 and is poised to reach $56.2 billion by 2026, growing at a CAGR of 13.9% from 2021 to 2026 according to a latest report published by MarketsandMarkets™. The Asia Pacific medical device outsourced manufacturing market is mainly driven by the overall growth of the medical devices market, mainly due to the rising disease prevalence, life expectancy, and geriatric population. Technological advancements have prompted end users to overhaul or update their manufacturing systems. As this is a costly process, they look to outsource contract manufacturing.
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Medical Device Outsourced Manufacturing Market Scope:
| Report Coverage | Details |
| Market Revenue in 2021 | $29.3 billion |
| Estimated Value by 2026 | $56.2 billion |
| Growth Rate | Poised to grow at a CAGR of 13.9% |
| Market Size Available for | 2019–2026 |
| Forecast Period | 2021–2026 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Device type, Services, Class of Device and Process |
| Geographies Covered |
|
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Growing healthcare expenditure in the APAC region |
| Key Market Drivers | Impact of Industry 4.0 on the medical devices industry |
Major Medical Device Outsourced Manufacturing market players covered in the report, such as:
- Flex Ltd. (Singapore)
- Jabil Inc. (US)
- TE Connectivity Ltd. (Switzerland)
- Sanmina Corporation (US)
- Nipro Corporation (Japan)
- Celestica International (Canada)
- Plexus Corporation (US)
- Benchmark Electronics Inc. (US)
- Integer Holdings Corporation (US)
- Gerresheimer Ag (Germany)
- West Pharmaceutical Services Inc. (US)
- Nortech Systems Inc. (US)
- Consort Medical PLC (UK)
- Kimball Electronics Inc. (US)
- and Teleflex Incorporated (US)
- Nordson Corporation (US)
- Tecomet Inc. (US)
- SMC Ltd. (US)
- Nemera (France)
- Tessy Plastics Corporation (US)
- and Among Others
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The research report categorizes the APAC medical device outsourced manufacturing market into the following segments and sub-segments:
By Device Type
- IVD Devices
- IVD Consumables
- IVD Equipment
- Diagnostic Imaging Devices
- Cardiovascular Devices
- Drug Delivery Devices
- Infusion Sets and Administration Sets
- Syringes
- Inhalers
- Autoinjectors & Pen Injectors
- Orthopedic Devices
- Ophthalmology Devices
- Diabetes Care Devices
- Dental Devices
- Endoscopy Devices
- Respiratory Care Devices
- Surgical Devices
- Gynaecology/Urology Devices
- Personal Care
- Neurology Devices
- Other Devices
By Services Type
- Device Development and Manufacturing Services
- Device Engineering Services
- Process Development Services
- Device Manufacturing Services
- LSR Molding
- Thermoplastic Injection Molding
- Extrusion Tubes
- CNC Machining and Laser Cutting & 3D printing
- Cleaning and Finishing
- Electronic Manufacturing Services
- Others
- Quality Management Services
- Packaging Validation Services
- Inspection and Testing Services
- Sterilization Services
- Packaging & Assembly By Type
- Primary & Secondary Packing
- Labelling
- Others
- Other Services
By Class of Device
- Class II Medical Devices
- Class I Medical Devices
- Class III Medical Devices
By Process Evaluation
- Process Evaluation
- Design for Manufacturing
- Prototyping
- Validation
- Project Management
- Pilot Production
- Production
- Assembly
- Packaging
By Country
- Asia-Pacific
- China
- Japan
- Malaysia & Singapore
- India
- Australia & New Zealand
- South Korea
- Rest of APAC
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The key stakeholders in the Medical Device Outsourced Manufacturing market include:
- Medical device manufacturers: They outsource various manufacturing processes to external partners.
- Contract manufacturers: They provide specialized manufacturing services to medical device companies.
- Suppliers: They supply raw materials, components, and equipment required for the manufacturing process.
- Regulatory authorities: They establish guidelines and regulations to ensure the safety and quality of medical devices.
- Healthcare providers: They rely on outsourced medical devices to deliver patient care.
- Patients: They are the end-users of medical devices and benefit from the products manufactured through outsourced manufacturing.
- Research and development organizations: They collaborate with manufacturers to develop innovative medical devices.
- Quality assurance and testing laboratories: They play a crucial role in ensuring compliance and quality control of manufactured devices.
- Distributors: They facilitate the distribution and sales of medical devices to healthcare facilities and end-users.
- Insurance companies: They may have an interest in the cost and reimbursement of medical devices manufactured through outsourcing.
Medical Device Outsourced Manufacturing Market Frequently Asked Questions (FAQs):
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