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30-May-2019

Medical Device Outsourcing Market Revenue Worth USD 193.6 bn by 2026

The global medical device outsourcing market size is expected to hit USD 193.6 billion in 2026 in terms of revenue. The global medical device outsourcing market is expected to experience a CAGR of 10.7% during the forecast period. Growing demand for medical devices tied with growing trend of off-shoring is expected to drive the market during the forecast period.

The report analyzes and forecasts the medical device outsourcing market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2018 to 2026. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report comprises a detailed value chain analysis, which provides a comprehensive view of the global market. The Porterrsquo;s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a decisive view of the market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East amp; Africa.

The report provides size (in terms of volume and value) of market for the base year 2018 and the forecast between 2019 and 2026. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

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In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report. Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding. Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participantsrsquo; insights, and recognizing business opportunities.

The global medical outsourcing market is segmented into service, therapeutic area, and regions. On the basis of service the global medical outsourcing market is segmented into Product Implementation Services, Quality Assurance, Regulatory Affairs Services, Product Design and Development Services, Product Testing amp; Sterilization Services, Product Upgrade Services, Product Maintenance Services, and Contract Manufacturing. Regulatory Affairs Services is further sub-segmented into Clinical trials applications and product registrations, Regulatory writing and publishing, Legal representation, and others. Product Design and Development Services segment is further sub-segmented among Designing amp; engineering, Machining, Molding, and packaging. Contract Manufacturing segment is further sub-segmented into Accessories manufacturing, Assembly manufacturing, Component manufacturing and Device manufacturing. On the basis of Therapeutic Area, the global medical device outsourcing market is segmented into cardiology, Diagnostic imaging, Orthopedic, IVD, Ophthalmic, General and plastic surgery, Drug delivery, Dental, Endoscopy, Diabetes care and others. Each of the Therapeutic Area segment is further sub-segmented into class I, class II and class III. On the basis of region the global medical device outsourcing market is segmented into Latin America, Europe, Asia Pacific, North America, and Middle East amp; Africa.

The global contract manufacturing market is expected to reach 103.9 billion by 2025, expanding at a CAGR of 10.3% from 2018 to 2025. In terms of service, quality assurance is expected to grow the fastest during the forecast period. Asia Pacific medical device outsourcing market is expected to dominate during the forecast period. North America and Europe constituted considerable cumulative share in 2016 attributable to well established manufacturing infrastructure for expensive and complex medical devices.

The key players catering to the global medical device outsourcing market are Integer; Tecomet; Jabil; Flextronics; Celestica; Sanmina; Plexus; SGS SA; Toxikon Inc.; Eurofins Scientific; Pace Analytical Services; Intertek Group; MAPI; PPD; Freyr Solutions; and Wuxi Apptec. The global players are continuously investing in Ramp;D activities and innovating to have updated technology based product portfolio to attract more and more business opportunity from the emerging nation such as that in Asia Pacific countries.

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Last Updated: 10-Jun-2019