Medical Device Contract Manufacturing Market Growth, Global Size, Opportunities, Key Producers, Share, Trends, Segmentations, Regional Graph Analysis And Forecast To 2029


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"Browse in-depth TOC on "Medical Device Contract Manufacturing Market" 490 - Tables 75 - Figures 500 - Pages"The report will help the market
leaders/new entrants in this market
with information on the closest approximations of the revenue numbers for the overall medical device contract manufacturing
market
and the subsegments.

Medical Device Contract Manufacturing Market
in terms of revenue was estimated to be worth
$78.9 billion
in 2024 and is poised to reach
$149.4 billion
by 2029, growing at a CAGR of 11.4% from 2024 to 2029 according to a new report by MarketsandMarkets. The global population is growing older, leading to an increased demand for medical devices used in diagnostics, treatment, and monitoring of age-related conditions also chronic diseases like diabetes, heart disease, and cancer are becoming increasingly prevalent worldwide, necessitating a rise in the demand for medical devices used in their management. which is expected to drive the market
growth. However, stringent regulatory
compliance
for the approval of medical devices is expected to challenge the growth of the market
.

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"Based on medical device contract manufacturing
devices by
IVD device type, the IVD consumables segment is expected to grow at the highest CAGR during the forecast period."

Under IVD device type, IVD consumables is forecasted to grow at the highest CAGR from 2024 to 2029. IVD consumables, the disposable components used in In Vitro Diagnostics (tests conducted outside the living body), offer several advantages that contribute to efficient and accurate medical diagnoses. IVD consumables are designed and manufactured following strict specifications, ensuring consistent performance across various tests and batches. This minimizes the risk of errors due to variations in the testing environment.

"The primary & secondary packing segment is expected to account for the largest share, by packaging & assembly services in the medical device contract manufacturing
market
."

By packaging & assembly services in service segment, the medical device contract manufacturing
market
can be segmented into primary & secondary packing, labelling and others. The advantages of primary and secondary packaging segment by protecting the device from contamination and damage during transport, storage, and handling, is expected to drive the segment growth.

"In 2023,
Europe
was the region with the second largest market
share in the medical device contract manufacturing
market
."

The medical device contract manufacturing
market
is segmented into five major regions, namely,
North America,
Europe,
Asia Pacific
(APAC),
Latin America, and the
Middle East
and
Africa
and GCC countries

Europe
accounted for the second-largest share of the medical device contract manufacturing
market
in 2023. The
rapidly
aging population, leading to a higher demand for medical devices used in diagnosing, treating, and monitoring age-related condition is driving the growth of the medical device contract manufacturing
market
in the European region.

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Key Market Players of
Medical Device Contract Manufacturing Industry:

Key players in the medical device contract manufacturing
market
include Flex Ltd. (Singapore), Jabil Inc.
(US), TE Connectivity Ltd. (Switzerland), Sanmina Corporation (US), Nipro Corporation (Japan), Celestica Inc.
(Canada), Plexus Corp. (US), Integer Holdings Corporation (US), West Pharmaceutical Services, Inc.
(US), Benchmark Electronics Inc.
(US), Recipharm AB (Sweden), Gerresheimer AG (Germany), Kimball Electronics Inc.
(US), Nortech Systems, Inc.
(US), Nemera Development S.A. (France), Viant Medical Holdings, Inc.
(US), Tecomet, Inc.
(US), SMC Ltd. (US), Phillips-Medisize Corporation (US), Tessy Plastics Corp. (US), Carclo Plc (UK), Nolato GW, Inc.
(US),
MeHow (China), Tekni-Plex (US), and Peter's Technology (China).

A breakdown of the primary participants (supply-side) for the medical device contract manufacturing
market
referred to for this report is provided below:

  • By Company Type: Tier 1–40%, Tier 2–35%, and Tier 3–25%
  • By Designation: C-level–30%, Director Level–55%, and Others–15%
  • By Region: North America–20%, Europe–15%, Asia Pacific–25%,
    Latin America- 10%,
    Middle East
    &
    Africa-30%

Medical Device Contract Manufacturing Market - Key Benefits of Buying the Report:

The report will help the market
leaders/new entrants in this market
with information on the closest approximations of the revenue numbers for the overall medical device contract manufacturing
market
and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to- market
strategies. The report also helps stakeholders understand the pulse of the market
and provides them with information on key market
drivers, restraints, challenges, and opportunities.

This report provides insights into the following pointers:

  • Analysis of key drivers (growth in medical devices market
    in developing countries, adoption of robotics and automation in manufacturing
    processes, technological advancements in medical device modalities, impact of industry
    4.0 on the medical device industry
    ), restraints (consolidation in medical devices market
    by acquiring small and medium-sized companies), opportunities (increasing healthcare expenditure, infrastructure, and awareness in developing countries, rising geriatric population and its associated diseases) and challenges (lack of constant innovation to balance technological capabilities against costs)
  • Market Penetration: It includes extensive information on product portfolios offered by the major players in the global medical device contract manufacturing
    market
    . The report includes various segments in market
    device type, class of device, service and region
  • Product Enhancement/Innovation: Comprehensive details about new product launches and anticipated trends in the global medical device contract manufacturing
    market
    .
  • Market Development: Thorough knowledge and analysis of the profitable rising market
    s by device type, class of device, service and region
  • Market Diversification: Comprehensive information about newly launched product and services, expanding market
    s, current advancements, and investments in the global medical device contract manufacturing
    market
    .
  • Competitive Assessment: Thorough evaluation of the market
    shares, growth plans, offerings of product and services, and capacities of the major competitors in the global medical device contract manufacturing
    market
    .

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