The process of signing a contract with a third party to perform business functions such as prototyping, product design supply chain management, and manufacturing is known as medical device manufacturing services outsourcing. The original equipment manufacturers production and development scale-up time is reduced owing to medical device manufacturing outsourcing. Outsourcing also aids medical device manufacturers to concentrate on their core competencies such as technical developments and clinical innovations.
Advantages enjoyed by original equipment manufacturers such as market share expansion & premium pricing along with cost reduction supplement the market growth. Furthermore, a surge in the global geriatric population is anticipated to increase the demand for medical devices and supplies, thereby boosting the market. However, a stringent regulatory environment towards medical devices impedes the market growth.
The global medical device manufacturing outsourcing market is segmented on the basis of product type, application, service, and geography. By product type, this market is segmented into EMS, raw materials, and finished goods. By application, this market is classified into ortho & spine, cardiovascular, medical imaging, IVDs, general medical devices, and others. Furthermore, on the basis of service, this market is categorised into product design & development, product upgrade & maintenance, regulatory consulting, product testing & certification, supply chain management, and product implementation. By geography, it has been analysed across North America, Europe, Asia-Pacific, and LAMEA.
Comprehensive competitive analysis and profiles of major market players such as Creganna Tactx Medical, Inc., Flex, Greatbatch, Nortech Systems, Tecomet, Daiichi Jitsugyo Co. Ltd., Mitutoyo Corp., Hamilton Company, Cirtec Medical Systems LLC and Kinetic Climax Inc., have been provided in this report.
- The study provides an in-depth analysis of the market along with current trends and future estimations to elucidate imminent investment pockets.
- It offers a quantitative analysis from 2017 to 2023 to enable stakeholders to capitalize on prevailing market opportunities.
- Comprehensive analysis of all geographical regions has been provided to determine prevailing opportunities.
- Key players have been profiled and their strategies thoroughly analyzed to understand the competitive outlook of the global market.
- Extensive analysis by product elucidates the use of medical device manufacturing outsourcing devices in medical settings.
Medical Device Manufacturing Outsourcing Market Key Segments:
By Product Type
- Raw materials
- Finished goods
- Ortho & spine
- Medical imaging
- General medical devices
- Product design & development
- Product upgrade & maintenance
- Regulatory consulting
- Product testing & certification
- Supply chain management
- Product implementation
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA