The global medical device contract manufacturing market is forecasted to expand at a stellar CAGR of 11% from 2023 to 2033. The market is valued at US$ 75 billion in 2023 and is thus expected to reach a valuation of US$ 214 billion by 2033-end.
Such vital information will help investors accordingly take action. The main objective of the report is to draw a basic outline of the Medical Device Contract Manufacturing market and describe its classification. The global Medical Device Contract Manufacturing market is replete with new growth opportunities and expansion avenues. There has been an increase in the use of products and services falling under the ambit of Medical Device Contract Manufacturing, giving a thrust to the growth of the global Medical Device Contract Manufacturing market.
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Key Companies Profiled
- Viant Medical
- Integer Holdings Corporation
- Forefront Medical Technologies
- Consort Medical PLC
- Nipro Corporation
- Flex Ltd.
- Jabil Inc.
- Celestica Inc.
- Nortech Systems, Inc.
Key insights from contract manufacturing of medical device market research:
- Demand for minimal access surgical instruments is expected to grow significantly, increasing at a CAGR of 10.6% during the forecast period.
- The high popularity of minimal access surgical instruments has been attributed to reduced tissue trauma, minimized blood loss and pain, improved affordability, and improved patient satisfaction.
- Contract manufacturing of electronic devices accounts for almost half of the total market revenue. Increasing global demand for patient monitoring and diagnostic devices is a key growth factor.
- Manufacturing of finished devices remains a highly preferred service, accounting for more than a quarter of the market value of contract manufacturing of medical devices. Numerous market players providing finished products are expected to drive the growth of the segment.
- Contract manufacturing of orthopedic devices is expected to see significant entry of major market players driven by the increasing incidence of arthritis in the geriatric population. Manufacturing these devices is expected to account for more than a quarter of his total market value.
- North America will continue to assert its dominance in the global market, accounting for over 40% of revenue, while Asia-Pacific promises lucrative growth opportunities for market players, expanding at a CAGR of 10.8% through 2026.
“The booming healthcare industry has enabled significant technological advances in surgical procedures. These advances have prompted major players to invest more in research and development of effective solutions. , which is driving the growth of the medical device contract manufacturing market,” said an analyst at Fact.MR.
Key Segments of Medical Device Contract Manufacturing Industry Research
- By Device :
- In-vitro Diagnostic Medical Devices
- Diagnostic Imaging & Medical Equipment
- Drug Delivery Devices
- Patient Monitoring Devices
- Minimally Access Surgical Instruments
- Therapeutic Patient Assistive Devices
- By Type of Manufacturing :
- Raw Materials
- Finished Goods
- By Service :
- Prototype Development
- Finished Device Manufacturing
- Assembly & Packaging
- Testing & Regulatory Support Services
- Molding & Casting
- By Application :
- Urology & Gynecology
- By Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
This report offers an in-depth assessment of the value chain, business conduct, and supply chain of the medical device manufacturing market in the regional markets. A list of prominent companies operating in the medical device manufacturing market and their product portfolios add credibility to this comprehensive research study.
Medical Device Contract Manufacturing Market: Report Summary
The study provides a comprehensive analysis on various characteristics such as manufacturing capacity, demand, product development, revenue generation, and sales of the global medical device manufacturing market.
Comprehensive estimates of the market have been provided by bullish and conservative scenarios considering sales in the medical device contract manufacturing market during the forecast period. The study also considers regional price comparisons with global average prices.
Medical Device Contract Manufacturing Market: Verified Assessment of Regional Segments
The Medical Devices Contract Manufacturing Market report details key sections that help in forecasting the regional markets. These chapters comprise regional macros (economic and business environment outlook) that are expected to have a significant impact on the growth of the medical device manufacturing market during the forecast period.
A country-by-country medical device contract manufacturing needs assessment was provided for each regional market, along with market size estimation and forecast, price index, and impact analysis of regional and national awareness dynamics. Year-over-year growth projections are also included in the report for all regional markets.
The report also includes a detailed breakdown by value of emerging markets.