September 23, 2021
Medical Device Contract Manufacturing

Medical Device Contract Manufacturing Market to Soar at 11.4% CAGR till 2027

Precedence Research has published a new report titledMedical Device Contract Manufacturing Market Size, Share and Growth Analysis, By Device Type (IVD Devices, Drug Delivery Devices, Diagnostic Imaging Devices, Patient Monitoring Devices, and Others), By Service (Device Development and Manufacturing Services, Quality Management Services and Final Goods Assembly Services), By Application (Oncology, Neurovascular, Urology & Gynecology, Radiology Cardiovascular, Orthopedic, and Others) – Global Industry Analysis, Trends, Regional Outlook and Forecast 2020 – 2027, the report contains 250+ pages with detailed analysis.

The global medical device contract manufacturing market research report gives a brief summary of definitions, size analysis and place of production, sales, applications, types, and major players/key vendors of the medical device contract manufacturing industry. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers a competitive scenario that comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies. The report provides the overall revenue of the global medical device contract manufacturing Market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year.

Medical device contract manufacturing Market Estimations:

Market Was Valued In 2019: US$ 53.71 Billion

Market Is Projected To Grow By 2027: US$ 97.52 Billion

Compound Annual Growth Rate (CAGR): 11.4  percent

Contract manufacturing allows an organization to exploit a specialist in one or more fields of design and production without needing significant capital investments. Design, engineering, component production, assembly or even full-service capabilities are among the choices that OEMs will find in the contract manufacturing partner. This helps the organization to stay focused on core competencies and strategic planning.

As medical devices OEMs are more likely to follow these standards, specialized companies familiar with the tight regulatory environment will continue to grow. Price, time on the market, project experience and cost controls are just a few of the many reasons OEMs choose a service partner.

Growth Factors

Growth of medical device industry and appearance of industry 4.0 are the major factor expected to propel the growth of medical device contract manufacturing in near future. Furthermore, growing pressure on medical device OEMs to reduce production costs and delay in the launch of new products is expected to fuel the demand for medical device contract manufacturing market in years to come. However, consolidation in the market of medical equipment is predicted to limit the growth of global medical device contract manufacturing market in analysis period. Even so, aging population provides the plenty of opportunities for many products as orthopedic implants and instruments in near future.

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COVID -19 Impacts:-

Manufacturing outsourcing has drastically changed in recent years, with a surge of consolidation between OEMs and contract manufacturing organizations (CMOs) a shift that is particularly important now that companies are struggling to meet the urgent demand for life-saving ventilators required to support coronavirus victims.

Companies serving multiple industries have made medtech their priority. Quick-turn manufacturer Protolabs said that there was an influx of COVID-19-related medical components that needed urgent production, ranging from test kits to ventilator parts. Various firms have provided expressions of encouragement to clients and workers. Integer Holdings, one of the world’s largest contract manufacturers of medical devices said that, patients and healthcare professionals now rely more than ever on the medtech industry.

Report Highlights

  • Technological advancement in medical device industry coupled with advent of Industry 4.0 is predicted to spur the growth of North America medical device contract manufacturing market
  • In 2019, device development and manufacturing services segment held the majority of revenue share and estimated to maintain the its dominance throughout coming years.
  • Mergers, acquisitions and new product releases are some of the approaches embraced by key players. Wright Medical Group, Inc and Tornier N.V. they also entered into a partnership agreement to improve business growth and expand the geographic scope of their upper and lower extremity product range, which has led to a rise in the demand for orthopedic products and will lead to drive the orthopedic application segment in near future.
  • Rising spending on healthcare in Germany and growing patient monitoring devices in France and UK is expected to drive global medical device contract manufacturing market in Europe
  • Disruption caused by Covid-19 to international supply chains has led to high shortages of critical/essential medical devices. Ramping up domestic production capacity of medical supplies is the major priority for most of the countries as Covid-19 spreads. In addition, domestic manufacturing of essential medical devices can not only overcome trade barriers, but also ensure quality of product and market solidity.

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Regional Snapshots

North America held the majority of revenue share in 2019. Aging population, growing health spending and numerous technological advancements are expected to fuel industry growth in over the next eight years.

China, India, and Brazil are the major regional players in Asia Pacific and Latin Americamedical device contract manufacturing market. The large patient base, growing health consciousness and expanding healthcare services have provided a favorable climate for the overall growth of healthcare markets. Quality labor pool and several cost-cutting as well as strategic business benefits is estimated to contribute the growth of medical device contract manufacturing market in Asia Pacific.

Key Players & Strategies

Consolidation of OEMs has led CMOs to pursue the broader market trend and also to develop capacity expansion and strategic alliances with their OEM customers. In addition, as OEMs reduce the number of suppliers and restructure their supply chain, smaller, less strategic contract manufacturers may be excluded from approved supplier lists.

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Some of the major players noticed and covered in the report are Flex, Ltd., Integer Holdings Corporation, Gerresheimer AG, Sanmina Corporation, Nipro Corporation, Celestica International Lp., Plexus Corp., Benchmark Electronics Inc., and West Pharmaceutical Services, Inc.

Other players functioning in the market arena are Nortech Systems Inc., Kimball Electronics, Inc., Nemera Development S.A., Consort Medical PLC, Jabil Inc., TE Connectivity Ltd., Viant Medical, Tessy Plastics Corp, Tecomet, Inc., SMC Ltd. and Phillips-Medisize Corporation amongst others.

Market Segmentation

By Device Type

  • IVD Devices
  • Drug Delivery Devices
  • Diagnostic Imaging Devices
  • Patient Monitoring Devices
  • Therapeutic Patient Assistive Devices
  • Minimally Access Surgical Instruments
  • Others

By Service

  • Device Development and Manufacturing Services
  • Quality Management Services
  • Final Goods Assembly Services

By Application

  • Laparoscopy
  • Pulmonary
  • Urology & Gynecology
  • Cardiovascular
  • Orthopedic
  • Oncology
  • Neurovascular
  • Radiology
  • Others

By Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Medical Device Contract Manufacturing Market, By Device

7.1. Medical Device Contract Manufacturing Market, by Device Type, 2020-2027
7.1.1. IVD Devices
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Drug Delivery Devices
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Diagnostic Imaging Devices
7.1.3.1. Market Revenue and Forecast (2016-2027)
7.1.4. Patient Monitoring Devices
7.1.4.1. Market Revenue and Forecast (2016-2027)
7.1.5. Therapeutic Patient Assistive Devices
7.1.5.1. Market Revenue and Forecast (2016-2027)
7.1.6. Minimally Access Surgical Instruments
7.1.6.1. Market Revenue and Forecast (2016-2027)
7.1.7. Others
7.1.7.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Medical Device Contract Manufacturing Market, By Application

8.1. Medical Device Contract Manufacturing Market, by Application, 2020-2027
8.1.1. Laparoscopy
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Pulmonary
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Urology & Gynecology
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.4. Cardiovascular
8.1.4.1. Market Revenue and Forecast (2016-2027)
8.1.5. Orthopedic
8.1.5.1. Market Revenue and Forecast (2016-2027)
8.1.6. Oncology
8.1.6.1. Market Revenue and Forecast (2016-2027)
8.1.7. Neurovascular
8.1.7.1. Market Revenue and Forecast (2016-2027)
8.1.8. Radiology
8.1.8.1. Market Revenue and Forecast (2016-2027)
8.1.9. Others
8.1.9.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global Medical Device Contract Manufacturing Market, By Service

9.1. Medical Device Contract Manufacturing Market, by Service, 2020-2027
9.1.1. Device Development and Manufacturing Services
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Quality Management Services
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.3. Final Goods Assembly Services
9.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 10. Global Medical Device Contract Manufacturing Market, Regional Estimates and Trend Forecast

10.1. North America
10.1.1. Market Revenue and Forecast, by Device (2016-2027)
10.1.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.3. Market Revenue and Forecast, by Service (2016-2027)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Device (2016-2027)
10.1.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.4.3. Market Revenue and Forecast, by Service (2016-2027)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Device (2016-2027)
10.1.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.1.5.3. Market Revenue and Forecast, by Service (2016-2027)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Device (2016-2027)
10.2.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.3. Market Revenue and Forecast, by Service (2016-2027)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Device (2016-2027)
10.2.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.4.3. Market Revenue and Forecast, by Service (2016-2027)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Device (2016-2027)
10.2.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.5.3. Market Revenue and Forecast, by Service (2016-2027)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Device (2016-2027)
10.2.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.6.3. Market Revenue and Forecast, by Service (2016-2027)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Device (2016-2027)
10.2.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.2.7.3. Market Revenue and Forecast, by Service (2016-2027)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Device (2016-2027)
10.3.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.3. Market Revenue and Forecast, by Service (2016-2027)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Device (2016-2027)
10.3.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.4.3. Market Revenue and Forecast, by Service (2016-2027)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Device (2016-2027)
10.3.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.5.3. Market Revenue and Forecast, by Service (2016-2027)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Device (2016-2027)
10.3.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.6.3. Market Revenue and Forecast, by Service (2016-2027)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Device (2016-2027)
10.3.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.3.7.3. Market Revenue and Forecast, by Service (2016-2027)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Device (2016-2027)
10.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.3. Market Revenue and Forecast, by Service (2016-2027)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Device (2016-2027)
10.4.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.4.3. Market Revenue and Forecast, by Service (2016-2027)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Device (2016-2027)
10.4.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.5.3. Market Revenue and Forecast, by Service (2016-2027)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Device (2016-2027)
10.4.6.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.6.3. Market Revenue and Forecast, by Service (2016-2027)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Device (2016-2027)
10.4.7.2. Market Revenue and Forecast, by Application (2016-2027)
10.4.7.3. Market Revenue and Forecast, by Service (2016-2027)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Device (2016-2027)
10.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.3. Market Revenue and Forecast, by Service (2016-2027)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Device (2016-2027)
10.5.4.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.4.3. Market Revenue and Forecast, by Service (2016-2027)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Device (2016-2027)
10.5.5.2. Market Revenue and Forecast, by Application (2016-2027)
10.5.5.3. Market Revenue and Forecast, by Service (2016-2027)

Chapter 11. Company Profiles

11.1. Flex, Ltd.
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Nortech Systems, Inc.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Sanmina Corporation
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Nipro Corporation
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Jabil Inc.
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Nemera Development S.A.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. TE Connectivity Ltd.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Kimball Electronics, Inc.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Viant Medical
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Celestica International Lp.
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
11.11. Plexus Corp.
11.11.1. Company Overview
11.11.2. Product Offerings
11.11.3. Financial Performance
11.11.4. Recent Initiatives
11.12. SMC Ltd.
11.12.1. Company Overview
11.12.2. Product Offerings
11.12.3. Financial Performance
11.12.4. Recent Initiatives
11.13. Phillips-Medisize Corporation
11.13.1. Company Overview
11.13.2. Product Offerings
11.13.3. Financial Performance
11.13.4. Recent Initiatives
11.14. Benchmark Electronics Inc.
11.14.1. Company Overview
11.14.2. Product Offerings
11.14.3. Financial Performance
11.14.4. Recent Initiatives
11.15. Integer Holdings Corporation
11.15.1. Company Overview
11.15.2. Product Offerings
11.15.3. Financial Performance
11.15.4. Recent Initiatives
11.16. Gerresheimer AG
11.16.1. Company Overview
11.16.2. Product Offerings
11.16.3. Financial Performance
11.16.4. Recent Initiatives
11.17. Consort Medical PLC
11.17.1. Company Overview
11.17.2. Product Offerings
11.17.3. Financial Performance
11.17.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions

Chapter 13. Appendix

13.1. About Us
13.2. Glossary of Terms

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Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings.

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