Medical Device Manufacturing Outsourcing Market, by Device Type (Cardiovascular, IVD (Consumable, Equipment), Diabetes Care, Dental, Drug Delivery, Orthopedic, Endoscopy Devices, Ophthalmic), Service (Quality Management Services, Final Goods Assembly Services, Device Development and Manufacturing Services), Class of Device (Class I, Class II Class III), Regional Analysis (North America, Europe, Asia Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026

Global Medical Device Manufacturing Outsourcing Market Insights 2026:

The global market for medical device manufacturing outsourcing forecast will be $104.3 million by 2026,increasing from $47.6 million in 2018 at a healthy CAGR of 10.3%.Asia-Pacific medical device manufacturing outsourcing market is expected to grow at a healthy CAGR of 9.5% by generating a revenue of $32.3 million, during the forecasted period. Implementation of effective government policies, technological advances and rising capital investment of healthcareareexpected to augment the growth of the Asia-Pacific market.

A Medical manufacturing outsourcing is a form of contract manufacturing in which a company produces medical products or a single part a whole product. Further, amedical contract manufacturer primarily designs, produces, and ships the medical devices and also offer services such as injection molding, ultrasonic cleaning, UV bonding, annealing, soldering, and many other manufacturing services.

Driving Factors: Increase in the prevalence of chronic diseases along with the significant expansion of the healthcare industry is anticipated to drive theglobalMedical device manufacturing outsourcing market

An extensiveincreasein the cases of chronic diseases such as diabetes, CVDs (Cardiovascular Diseases), cancer, and many others has augmented the global medical device manufacturing outsourcing market,during the forecast period. Also,a decrease in time needed to bring a product to market and cost-effective production are one of the key factors for the growth of medical device manufacturing outsourcing market. Moreover increase in the life expectancy, rising demand for technological adoption in the medical devices industry, and aging population are some of the factors anticipated to boosting the growth of medical device manufacturing outsourcing market. For instance, as per data published by World Population Prospects, 1 out of 6 people across the globe will be over age 65 (16%) by year 2050.

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Threat of information leakage anticipated to restrain the growth of global medical device manufacturing outsourcingindustry

The risk of a confidential information leak can be a restraint in the global medical device manufacturing outsourcing market growth.

The developments in the healthcare sectors of emerging nationssuch as India and China areanticipated to create immense opportunities in theglobal market

Improvisation in the quality of healthcare in developing nations is anticipated to create enormous opportunities for the medical device manufacturing outsourcing market. Effective solutions and strategies have been made and implemented to help close gaps in health care delivery. Emerging countries are expected to increase healthcare spending mainly because of patients of non-communicable diseases (NCDs) like cancer and diabetes are growing steadily in the market of developing countries. Also, rapidly increasing urbanization and increasing income of the people are fueling demand for healthcare services and treatments. In addition, to fulfill the surging demand for healthcare emerging markets governments of India and china are enacting policies like “National Health Protection Mission” and “Healthy China 2030 Plan”. These medical device manufacturing outsourcing market trends will support to blooming the market of medical device manufacturing outsourcing.

The IVD (in Vitro Diagnostic) devices segment has the highest market share in the global market, and it is anticipated to generate a revenue of $14.0 million, throughout the forecast period.This is mainly because of higher compatibility of IVD devices with point-of-care (PoC) environments. Moreover, extensive surge in the number of hospitals and medical institutions in developing as well as developed countries is also responsible for the rapid growth of this market. IVD provides significant advantages such as tailored therapies, personalized risk predictions, and identification of faulty genes. These factors and rapid technological advances are projected to foster the growth of the IVD market in the coming years.Moreover, shift from curative to preventive healthcare for diseases like diabetes, aging demographics, tremendous impact on cancer diagnosis and treatment, and the global demand for healthcare infrastructure are some of the driving elements for the growth of this market.

The development and manufacturing services has the highest market share and it is estimated to generate revenue of $35.6 at a healthy CAGR of 9.7%, during the forecast period. Consistent improvisation in manufacturing new devices is one of the key factors for the rise in the development and manufacturing services. In addition, growth in the medical devices industry and high capital investments for in-house manufacturing of medical devices is also projected to fuel the growth of development and manufacturing services segment.

Medical device manufacturing outsourcing market share for Asia Pacific is projected to grow at a health rate of 9.5% by registering a revenue of $32.3 million by 2026. The Asian countries such as China, India, and South Korea provide a huge cost advantage, tremendous market opportunity for pharmaceutical manufacturers, and footprint growth potential, which are propelling factors for the growth of medical device manufacturing outsourcing market. Moreover ,improvisations in the technical knowledge, lower labor costs and the presence of a large pool of patients of chronic diseases is also projected to dive the growth of Asian market.Moreover Korean based market players such as Nissha Co., Ltd. are focusing mainly on customer-oriented service and flexibility.These afore mentioned key factors are projected to drive the growth of the medical device manufacturing outsourcing market.

North America Medical Device Manufacturing Outsourcing Market 2026:

North America region will have significant growth and it is projected to generate revenue of $31.2 million, during the forecast period

The medical device manufacturing outsourcing market size in the North America region has registered a revenue of $13.8 million in 2018 and it is projected to surpass $31.2 million by 2026. Enormously rising demand for efficient and advanced medical devices particularly in countries such as Canada and the US is one of the major factors for the boost of medical device manufacturing outsourcing market in the North America region. Moreover, extensively increasing medical requirement,spurring healthcare expenditure, and consistentlyrising number of surgery cases are some of the driving elements for the growth of North American medical device manufacturing outsourcing market. As per study conducted by the American Medical Association, the U.S. has spent around $3.5 trillion on healthcare in the year 2017.

Competitive Scenario in the Global Medical Device Manufacturing Outsourcing Market:

Some of the significant medical device manufacturing outsourcing market players include Tecomet, Inc., Creganna, FLEX LTD., Mitutoyo Corporation, Nortech Systems, Inc.,Integer Holdings Corporation, DAIICHI JITSUGYO CO., LTD., Hamilton Company., Cirtec, and Kinetics Climax Inc.Medical device manufacturing outsourcing market players are emphasizing on Merger & acquisition and advanced product developments.These are the frequent strategies followed by the established organizations

Porter’s Five Forces Analysis for Medical device manufacturing outsourcing market:

• Bargaining Power of Suppliers: Leading suppliers in the healthcare market use negotiating power to gain high prices. Moreover, the switching barrier from one supplier to the other supplier is predicted to be high.
  The bargaining power of suppliers is HIGH.

• Bargaining Power of Buyer: healthcare institutions and Hospitals buy medical devices in larger quantities and impose pressure on pharmaceutical organizations to keep prices in check. 
  The bargaining power of the buyer is MEDIUM.

• Threat of New Entrants: Government regulatory policies coupled with higher cost associated with R&D offer low threat of entry from new competitors. 
  The threat of new entrants is LOW.

• Threat of Substitutes: The threat of the alternative product is high if it offers a better value proposition that is considerably different from the present service of the industry. 
  The threat of substitutes is LOW.

• Competitive Rivalry in the Market: Medical device manufacturing outsourcing market has a high number of large, small, and medium companies. Market players are mainly following technological advancements, alternative business strategies such as strategic partnerships; this is also a key factor for high competitive rivalry in the global medical device manufacturing outsourcing market.
  The competitive rivalry in the industry is HIGH.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.Device Type trends
2.3.Services trends
2.4.Class of Device trends

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Market value chain analysis
3.9.Strategic overview

4.Medical Device Manufacturing Outsourcing Market, by Device Type

4.1.Cardiovascular

4.1.1.Market size and forecast, by region, 2018-2026
4.1.2.Comparative market share analysis, 2018 & 2026

4.2.Dental

4.2.1.Market size and forecast, by region, 2018-2026
4.2.2.Comparative market share analysis, 2018 & 2026

4.3.Diabetes Care

4.3.1.Market size and forecast, by region, 2018-2026
4.3.2.Comparative market share analysis, 2018 & 2026

4.4.Drug Delivery

4.4.1.Market size and forecast, by region, 2018-2026
4.4.2.Comparative market share analysis, 2018 & 2026

4.5.Endoscopy Devices

4.5.1.Market size and forecast, by region, 2018-2026
4.5.2.Comparative market share analysis, 2018 & 2026

4.6.Orthopedic

4.6.1.Market size and forecast, by region, 2018-2026
4.6.2.Comparative market share analysis, 2018 & 2026

4.7.Ophthalmic

4.7.1.Market size and forecast, by region, 2018-2026
4.7.2.Comparative market share analysis, 2018 & 2026

4.8.IVD

4.8.1.Market size and forecast, by region, 2018-2026
4.8.2.Comparative market share analysis, 2018 & 2026

4.8.2.1.Equipment

4.8.3.Market size and forecast, by region, 2018-2026
4.8.4.Comparative market share analysis, 2018 & 2026

4.8.4.1.Consumable

4.8.5.Market size and forecast, by region, 2018-2026
4.8.6.Comparative market share analysis, 2018 & 2026

5.Medical Device Manufacturing Outsourcing Market, by Services

5.1.Quality Management Services

5.1.1.Market size and forecast, by region, 2018-2026
5.1.2.Comparative market share analysis, 2018 & 2026

5.2.Final Goods Assembly Services

5.2.1.Market size and forecast, by region, 2018-2026
5.2.2.Comparative market share analysis, 2018 & 2026

5.3.Device Development and Manufacturing Services

5.3.1.Market size and forecast, by region, 2018-2026
5.3.2.Comparative market share analysis, 2018 & 2026

6.Medical Device Manufacturing Outsourcing Market, by Class Of Device 

6.1.Class I

6.1.1.Market size and forecast, by region, 2018-2026
6.1.2.Comparative market share analysis, 2018 & 2026

6.2.Class II

6.2.1.Market size and forecast, by region, 2018-2026
6.2.2.Comparative market share analysis, 2018 & 2026

6.3.Class III

6.3.1.Market size and forecast, by region, 2018-2026
6.3.2.Comparative market share analysis, 2018 & 2026

7.Medical Device Manufacturing Outsourcing Market, by region

7.1.North America

7.1.1.Market size and forecast, by device type, 2018-2026
7.1.2.Market size and forecast, by services, 2018-2026
7.1.3.Market size and forecast, by class of device, 2018-2026
7.1.4.Market size and forecast, by country, 2018-2026
7.1.5.Comparative market share analysis, 2018 & 2026
7.1.6.U.S.

7.1.6.1.Market size and forecast, by device type, 2018-2026
7.1.6.2.Market size and forecast, by services, 2018-2026
7.1.6.3.Market size and forecast, by class of device, 2018-2026
7.1.6.4.Comparative market share analysis, 2018 & 2026

7.1.7.Canada

7.1.7.1.Market size and forecast, by device type, 2018-2026
7.1.7.2.Market size and forecast, by services, 2018-2026
7.1.7.3.Market size and forecast, by class of device, 2018-2026
7.1.7.4.Comparative market share analysis, 2018 & 2026

7.1.8.Mexico

7.1.8.1.Market size and forecast, by device type, 2018-2026
7.1.8.2.Market size and forecast, by services, 2018-2026
7.1.8.3.Market size and forecast, by class of device, 2018-2026
7.1.8.4.Comparative market share analysis, 2018 & 2026

7.2.Europe

7.2.1.Market size and forecast, by device type, 2018-2026
7.2.2.Market size and forecast, by services, 2018-2026
7.2.3.Market size and forecast, by class of device, 2018-2026
7.2.4.Market size and forecast, by country, 2018-2026
7.2.5.Comparative market share analysis, 2018 & 2026
7.2.6.Germany 

7.2.6.1.Market size and forecast, by device type, 2018-2026
7.2.6.2.Market size and forecast, by services, 2018-2026
7.2.6.3.Market size and forecast, by class of device, 2018-2026
7.2.6.4.Comparative market share analysis, 2018 & 2026

7.2.7.UK

7.2.7.1.Market size and forecast, by device type, 2018-2026
7.2.7.2.Market size and forecast, by services, 2018-2026
7.2.7.3.Market size and forecast, by class of device, 2018-2026
7.2.7.4.Comparative market share analysis, 2018 & 2026

7.2.8.France

7.2.8.1.Market size and forecast, by device type, 2018-2026
7.2.8.2.Market size and forecast, by services, 2018-2026
7.2.8.3.Market size and forecast, by class of device, 2018-2026
7.2.8.4.Comparative market share analysis, 2018 & 2026

7.2.9.Spain

7.2.9.1.Market size and forecast, by device type, 2018-2026
7.2.9.2.Market size and forecast, by services, 2018-2026
7.2.9.3.Market size and forecast, by class of device, 2018-2026
7.2.9.4.Comparative market share analysis, 2018 & 2026

7.2.10.Italy 

7.2.10.1.Market size and forecast, by device type, 2018-2026
7.2.10.2.Market size and forecast, by services, 2018-2026
7.2.10.3.Market size and forecast, by class of device, 2018-2026
7.2.10.4.Comparative market share analysis, 2018 & 2026

7.2.11.Rest of Europe

7.2.11.1.Market size and forecast, by device type, 2018-2026
7.2.11.2.Market size and forecast, by device type, 2018-2026
7.2.11.3.Market size and forecast, by services, 2018-2026
7.2.11.4.Comparative market share analysis, 2018 & 2026

7.3.Asia Pacific

7.3.1.Market size and forecast, by device type, 2018-2026
7.3.2.Market size and forecast, by services, 2018-2026
7.3.3.Market size and forecast, by class of device, 2018-2026
7.3.4.Market size and forecast, by country, 2018-2026
7.3.5.Comparative market share analysis, 2018 & 2026
7.3.6.China

7.3.6.1.Market size and forecast, by device type, 2018-2026
7.3.6.2.Market size and forecast, by services, 2018-2026
7.3.6.3.Market size and forecast, by class of device, 2018-2026
7.3.6.4.Comparative market share analysis, 2018 & 2026

7.3.7.India 

7.3.7.1.Market size and forecast, by device type, 2018-2026
7.3.7.2.Market size and forecast, by services, 2018-2026
7.3.7.3.Market size and forecast, by class of device, 2018-2026
7.3.7.4.Comparative market share analysis, 2018 & 2026

7.3.8.Australia 

7.3.8.1.Market size and forecast, by device type, 2018-2026
7.3.8.2.Market size and forecast, by services, 2018-2026
7.3.8.3.Market size and forecast, by class of device, 2018-2026
7.3.8.4.Comparative market share analysis, 2018 & 2026

7.3.9.Rest of Asia Pacific

7.3.9.1.Market size and forecast, by device type, 2018-2026
7.3.9.2.Market size and forecast, by services, 2018-2026
7.3.9.3.Market size and forecast, by class of device, 2018-2026
7.3.9.4.Comparative market share analysis, 2018 & 2026

7.4.LAMEA

7.4.1.Market size and forecast, by device type, 2018-2026
7.4.2.Market size and forecast, by services, 2018-2026
7.4.3.Market size and forecast, by class of device, 2018-2026
7.4.4.Market size and forecast, by country, 2018-2026
7.4.5.Comparative market share analysis, 2018 & 2026
7.4.6.Latin America 

7.4.6.1.Market size and forecast, by device type, 2018-2026
7.4.6.2.Market size and forecast, by services, 2018-2026
7.4.6.3.Market size and forecast, by class of device, 2018-2026
7.4.6.4.Comparative market share analysis, 2018 & 2026

7.4.7.Middle East 

7.4.7.1.Market size and forecast, by device type, 2018-2026
7.4.7.2.Market size and forecast, by services, 2018-2026
7.4.7.3.Market size and forecast, by class of device, 2018-2026
7.4.7.4.Comparative market share analysis, 2018 & 2026

7.4.8.Africa

7.4.8.1.Market size and forecast, by device type, 2018-2026
7.4.8.2.Market size and forecast, by services, 2018-2026
7.4.8.3.Market size and forecast, by class of device, 2018-2026
7.4.8.4.Comparative market share analysis, 2018 & 2026

8.Company profiles

8.1.Tecomet, Inc.

8.1.1.Business overview
8.1.2.Financial performance
8.1.3.Product portfolio
8.1.4.Recent strategic moves & developments
8.1.5.SWOT analysis

8.2.Creganna

8.2.1.Business overview
8.2.2.Financial performance
8.2.3.Product portfolio
8.2.4.Recent strategic moves & developments
8.2.5.SWOT analysis

8.3.FLEX LTD.

8.3.1.Business overview
8.3.2.Financial performance
8.3.3.Product portfolio
8.3.4.Recent strategic moves & developments
8.3.5.SWOT analysis

8.4.Mitutoyo Corporation

8.4.1.Business overview
8.4.2.Financial performance
8.4.3.Product portfolio
8.4.4.Recent strategic moves & developments
8.4.5.SWOT analysis

8.5.Nortech Systems, Inc.

8.5.1.Business overview
8.5.2.Financial performance
8.5.3.Product portfolio
8.5.4.Recent strategic moves & developments
8.5.5.SWOT analysis

8.6.Integer Holdings Corporation

8.6.1.Business overview
8.6.2.Financial performance
8.6.3.Product portfolio
8.6.4.Recent strategic moves & developments
8.6.5.SWOT analysis

8.7.DAIICHI JITSUGYO CO., LTD.

8.7.1.Business overview
8.7.2.Financial performance
8.7.3.Product portfolio
8.7.4.Recent strategic moves & developments
8.7.5.SWOT analysis

8.8.Hamilton Company.

8.8.1.Business overview
8.8.2.Financial performance
8.8.3.Product portfolio
8.8.4.Recent strategic moves & developments
8.8.5.SWOT analysis

8.9.Cirtec

8.9.1.Business overview
8.9.2.Financial performance
8.9.3.Product portfolio
8.9.4.Recent strategic moves & developments
8.9.5.SWOT analysis

8.10.Kinetics Climax Inc.

8.10.1.Business overview
8.10.2.Financial performance
8.10.3.Product portfolio
8.10.4.Recent strategic moves & developments
8.10.5.SWOT analysis
 

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