(MENAFN- EIN Presswire)
Medical Device Contract Manufacturing
The Exactitude Consultancy Medical Device Contract manufacturing market Report – Size, Trends, and Forecast 2024-2030
The medical device contract manufacturing market is seeing strong demand due to growing healthcare needs, technological advances, and cost efficiency.” - Exactitude Consultancy
LUTON, BEDFORDSHIRE, UNITED KINGDOM, August 28, 2024 /EINPresswire / -- The Medical Device Contract Manufacturing Market refers to the industry segment where companies provide outsourced manufacturing services for medical devices. This market involves third-party manufacturers that produce medical devices and components on behalf of original equipment manufacturers (OEMs). These contract manufacturers handle various stages of production, including design, prototyping, production, assembly, and quality control.
The market's expansion is ascribed to the rising demand for monoclonal antibodies and biosimilars, the rising demand for target diseases, and the rapidly expanding adoption of immunotherapy medication categories in contrast to conventional therapeutic approaches. Additionally, it is projected that the worldwide market will expand due to the growing need for individualized medical care. Additionally, during the projected period, the growing healthcare expenditures in developed countries coupled with an aging population are driving market growth. The factors driving the growth of the market are the increasing use of robotics and automation along with technological advancements in medical devices.
The Medical Device Contract Manufacturing Market is anticipated to grow from USD 57 billion in 2024 to USD 160 billion by 2030, at a CAGR of 12.3% during the forecast period.
Get a sample report:
#request-a-sample
In addition to answering these critical questions, the report offers a forward-looking perspective, providing insights into the future trajectory of the Medical Device Contract Manufacturing market. It equips decision-makers with the knowledge needed to navigate the market's evolution during the forecasted period effectively.
The Top Key Players profiled in the report:
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).
Following are some of the recent acquisitions:
In 2024, Integer Holdings Corporation (U.S.), a medical device outsourcing company, acquired PULSE TECHNOLOGIES, INC. (U.S.), a contract manufacturer that specializes in complex micromachining of medical device components.
In September 2021, TE Connectivity acquired three companies focused on microfluidic cartridge and blister reagent package development, usability testing, clinical research, and manufacturing, including Toolbox Medical Innovations (California, USA), which provides development, usability testing, clinical research, and manufacturing services for Point of Care IVD products.
This Medical Device Contract Manufacturing research report sheds light on the major market players who are thriving in the market. Track business strategy, financial status and upcoming products.
Regional Analysis:
Asia Pacific accounted for the largest share of the medical device contract manufacturing market, followed by Europe and North America. This is due to increasing population, growing middle class, and rising healthcare expenditure in the region are fueling the demand for various pharmaceuticals and medical devices also compared to established markets like North America and Europe, the Asia Pacific region often offers lower labor costs, making it an attractive option for companies seeking to optimize manufacturing expenses.
Segment Analysis:
Based on the device type, the cardiovascular device segment is expected to grow by the highest CAGR in the medical device contract manufacturing market.
Decibrillators prevent sudden cardiac arrest, stents open blocked arteries, and pacemakers regulate irregular heartbeats. This results in a lower chance of dying and better cardiovascular health. Additionally, compared to open heart surgery, less invasive procedures are now possible thanks to technological advancements like balloon angioplasty and stent placement. This results in less pain, less scarring, and faster recovery times, all of which are anticipated to fuel market expansion.
Medical Device Contract Manufacturing Market Segmentation Analysis:
Medical Device Contract Manufacturing Market by Device Type, 2019-2028, (IN USD Million)
IVD Devices
Diagnostic Imaging Devices
Cardiovascular Devices
Drug Delivery Devices
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
Medical Device Contract Manufacturing Market by Services Type, 2019-2028, (IN USD Million)
Device Development And Manufacturing Services
Quality Management Services
Medical Device Contract Manufacturing Market by Class Of Device, 2019-2028, (IN USD Million)
Class I Medical Devices
Class Ii Medical Devices
Class Iii Medical Devices
This report caters to a wide audience, from industry experts seeking insights into the dynamic Medical Device Contract Manufacturing market to newcomers looking for guidance. Customization options are available to ensure the report's relevance to your specific needs.
Know more about this report:
The study also analyzes and sheds light on key aspects related to the market's growth and opportunities in different geographies:
Regions witnessing a rise in investments in supply chain networks.
Countries that have benefited from recent import and export policies.
Regions experiencing a decline in consumer demand due to economic and political upheavals.
Medical Device Contract Manufacturing Markets expected to emerge in specific geographies.
Regions likely to lose market share due to pricing pressures.
Leading players expected to expand their footprints in the near future.
Sustainability trends impacting the logistics and supply chain dynamics in the Medical Device Contract Manufacturing
Demographic and economic environments creating new demand in developing economies.
Changing government regulations and their impact on business strategies and practices.
Browse More Research Reports:
5G In Healthcare Market
Blood Screening Market
Cancer Immunotherapy Market
Companion Diagnostics Market
Compounding Pharmacies Market
Flow Cytometry Market
Health Information Exchange (HIE) Market
Healthcare Business Intelligence Market
Hereditary Testing Market
Infection Surveillance Solutions Market
Customization services available with the report:
20% free customization.
Five Countries can be added as per your choice.
Five Companies can add as per your choice.
Free customization up to 40 hours.
Post-sales support for 1 year from the date of delivery.
Get More:
Check current updates:
About Us:
Exactitude Consultancy is a Market research & consulting services firm which helps its client to address their most pressing strategic and business challenges. Our professional team works hard to fetch the most authentic research reports backed with impeccable data figures which guarantee outstanding results every time for you. So, whether it is the latest report from the researchers or a custom requirement, our team is here to help you in the best possible way.
Irfan T
Exactitude Consultancy
+1 704-266-3234
email us here
Visit us on social media:
X
LinkedIn
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN28082024003118003196ID1108609563