PharmiWeb.com - Global Pharma News & Resources
04-Aug-2020

Global Medical Device Manufacturing Outsourcing Market Will Reach USD 136 Billion By 2026

Global medical device manufacturing outsourcing market in 2019 was approximately USD 64.7 Billion. The market is expected to grow at a CAGR of 11.2% and is anticipated to reach around USD 136 Billion by 2026.

The manner in which a third-party contract is concluded to conduct business functions such as supply chain management and product development, prototyping and distribution is known as outsourcing services for medical device manufacturing. The efficiency and expansion time of OEM manufacturers has been reduced by the outsourcing of the manufacturing of medical equipment. Outsourcing also lets medical device companies concentrate on their key skills such as technical innovations and medical technology.

Request Free Sample Copy Research Report @ https://www.fnfresearch.com/sample/medical-device-manufacturing-outsourcing-market-by-product-ems-910

(The sample of this report is readily available on request).

Benefits of Requesting a FREE Sample Report Before Purchase:

  • A brief introduction to the research report and Overview of the market
  • Graphical introduction of global as well as regional analysis.
  • Know top players in the market with their revenue analysis.
  • Selected illustrations of market insights and trends.
  • Example pages from the report.
  • FnF research methodology.

Original Equipment Manufacturer’s growing objective to reduce production costs is among the main factor in the growth of the under-contracting sector in manufacturing equipment. Due to low health budgets worldwide, the demand on medical device manufacturers to deliver treatments at low cost is improving. Manufacturing companies have begun to reduce production and operating costs. This resulted in a substantial rise in the outsourcing of medical device manufacturing. The manufacturing of medical devices requires extremely high engineering expertise and labor costs.

Developing nations have emerged as the leading outsourcing location for medical device development. This is one of the main developments in the industry in the outsourcing of medical devices that will further stimulate market growth. The substantial increase in R&D expenditure has forced OEMs to move towards outsourcing to reduce costs. The development of new technologies rendered developing economies an attractive choice with high technical skills, low labor costs, increased government funding for R&D activities and strengthened regulatory compliance. Countries like India, China, Mexico, Malaysia, and Brazil have become preferred manufacturing outsourcing attractions. The business forecast for outsourcing medical devices predicts that the industry will expand almost with a CAGR of 10 percent during the forecast period. The difficulty in transferring the technology to contract manufacturers and disbelief of losing the copyright of technologies and processes is expected to hinder the market growth. A tight regulatory environment for medical devices, however, hinders market growth over the forecast period.

Enquire more about this report before purchase @ https://www.fnfresearch.com/inquiry/medical-device-manufacturing-outsourcing-market-by-product-ems-910

(You may enquire a report quote OR available discount offers to our sales team before purchase.)

The EMS segment is expected to lead the market share of the outsourcing of medical devices during the forecast period. EMS involves diagnostic imaging, patient monitoring, pacemakers, and IVD. The EMS group will also be responsible for the highest demand growth for the outsourcing of medical devices. The study also includes a detailed estimate of the demand feedback for all specific product segments.

Global medical device manufacturing outsourcing market is segmented into product, application, service, and region. EMS, raw materials, and finished goods are the product based segmentation of the market. The application segment is fragmented into ortho & spine, cardiovascular, medical imaging, IVDs, general medical devices, and others. The service segment is further categorized into product design & development, product upgrade & maintenance, regulatory consulting, product testing & certification, supply chain management, and product implementation. Major countries involved in the market report are the United States, Germany, Canada, France, UK, China, Japan, India, Mexico, Brazil, Saudi Arabia, and Others.

The major players of the global medical device manufacturing outsourcing market are Pace Analytical Services, Eurofins Scientific, Flextronics, Integer, Plexus, Intertek Group, Tecomet, MAPI, and Freyr Solutions among others.

Request Customized Copy of Report @ https://www.fnfresearch.com/customization/medical-device-manufacturing-outsourcing-market-by-product-ems-910

(We customize your report according to your research need. Ask our sales team for report customization.)

This report segments the medical device manufacturing outsourcing market as follows:

Global Medical Device Manufacturing Outsourcing Market: By Product Segmentation Analysis (Customizable)

  • EMS
  • Raw Materials
  • Finished Goods

Global Medical Device Manufacturing Outsourcing Market: By Application Segmentation Analysis (Customizable)

  • Ortho & Spine
  • Cardiovascular
  • Medical Imaging
  • IVDs
  • General Medical Devices
  • Others

Global Medical Device Manufacturing Outsourcing Market: By Services Segmentation Analysis (Customizable)

  • Product Design & Development
  • Product Upgrade & Maintenance
  • Regulatory Consulting
  • Product Testing & Certification
  • Supply Chain Management
  • Product Implementation

About Us:
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:
Facts & Factors
A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1-347-989-3985
Email: sales@fnfresearch.com
Web: https://www.fnfresearch.com

This content has been distributed via CDN Newswire press release distribution service. For press release enquires please mail us at contact@cdnnewswire.com.

Editor Details

  • Company:
    • CDN Newswire
Last Updated: 04-Aug-2020