Medical Device Outsourcing Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Medical Device Outsourcing Market covers analysis By Services (Product Design and Development Services, Product Testing and Sterilization Services, Product Upgrade Services, Product Maintenance Services, Regulatory Consulting Services, Contract Manufacturing Services, and Other Services); Application (Class I Medical Devices, Class II Medical Devices, and Class III Medical Devices), and Geography (North America, Europe, Asia Pacific, and South and Central America)

Report Code : TIPMD00002578
Category : Life Sciences

Status : Upcoming
No. of Pages : 150

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MARKET OVERVIEW

riginal equipment manufacturers are widely accepting medical device outsourcing services. The market is growing due to increased pressure on manufacturers to cut overhead and operational costs while maintaining the quality of healthcare services. During the projected period, the market is likely to be driven by rising demand for medical devices and increased price competition. Furthermore, rising product engineering challenges, as well as an influx of new entrants, are expected to shape the market's future.

MARKET SCOPE

The "Global Medical Device Outsourcing Market Analysis to 2031" is a specialized and in-depth study of the medical device industry with a special focus on the global market trend analysis. The report aims to provide an overview of the medical device outsourcing market with detailed market segmentation by services, end user, and geography. The report provides key statistics on the market status of the leading medical device outsourcing market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

Based on services, the market is bifurcated into product design and development services, product testing and sterilization services, product upgrade services, product maintenance services, regulatory consulting services, contract manufacturing services, and other services
Based on application, the market is bifurcated into class I medical devices, class II medical devices, and class III medical devices

MARKET DYNAMICS

Drivers:

Changing Regulatory Landscape
Rising Price Competition and the Requirement to Reduce Costs
Rising Demand for the Advanced Products

Restraints

Compliance Issues while Outsourcing

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The medical device outsourcing market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the medical device outsourcing market in these regions.

IMPACT OF COVID-19 ON MEDICAL DEVICE OUTSOURCING MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the medical device outsourcing market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from medical device outsourcing market are anticipated to lucrative growth opportunities in the future with the rising demand for medical device outsourcing in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the medical device outsourcing market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

Creganna Medical
General Electric Company
Heraeus Holding
Integer Holdings Corporation
Jabil Inc.
Micro Systems Technologies
Omnica Corporation
Phillips-Medisize
Sanmina Corporation
Plexus Corp.

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Medical Device Outsourcing Report Scope

Report Attribute	Details
Market size in 2023	US$ XX Million
Market Size by 2031	US$ XX Million
Global CAGR (2023 - 2031)	XX%
Historical Data	2021-2022
Forecast period	2024-2031
Segments Covered	By Services Product Design and Development Services Product Testing and Sterilization Services Product Upgrade Services Product Maintenance Services Regulatory Consulting Services Contract Manufacturing Services Other Services By Application Class I Medical Devices Class II Medical Devices Class III Medical Devices
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Creganna Medical General Electric Company Heraeus Holding Integer Holdings Corporation Jabil Inc. Micro Systems Technologies Omnica Corporation Phillips-Medisize Sanmina Corporation