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Medical Device Outsourcing Market Analysis, Historic Data and Forecast 2022-2030

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Vision Research Report’s study on Medical Device Outsourcing market offers exclusive insights into key growth drivers, restraints and business opportunities. The report underscores some of the popular strategies that market players undertake to gain competitive edge.

Vision Research Reports is a leading research and consulting firm, has forecast the global Medical Device Outsourcing market is set to surge at a high CAGR of 11.1% during the forecast period 2022 to2030. The report, demand for Medical Device Outsourcing will total US$ 106.92 Billion in 2021 and is projected to reach the size of 291.93 billion US$ by 2030. Despite unprecedented implications of the COVID-19 outbreak, the market will gain impetus amidst soaring investment towards sophistication of the healthcare sector.

Growth Factors

The rising demand for advanced medical products and a growing trend of offshoring are fueling the growth of this market. Various initiatives by public organizations promoting testing for COVID-19 are also enhancing market growth. Regulatory bodies are emphasizing the quality of the healthcare devices provided to the public that is becoming burdensome to handle. To meet the regulatory scenario, various services like regulatory consulting are being utilized by the industry players.

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Increasing demand for medical devices combined with the rising price competition and requirement to reduce the cost is expected to drive the market during the forecast period. In addition, growing difficulties in product engineering along with the increasing number of new entrants are anticipated to shape the future of the market. The COVID-19 pandemic had created a significant demand for RT-PCR and COVID-19 antigen test kits for testing. The ongoing pandemic is likely to have a positive impact on the market. The increasing prevalence of chronic disorders is boosting the demand for medical devices.

Report Coverage

Report Scope Details
Market Size US$ 291.93 billion by 2030
Growth Rate CAGR of 11.1% From 2022 to 2030
Largest Market Asia Pacific
Base Year 2021
Forecast Period 2022 to 2030
Segments Covered Services, Application
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned SGS SA; Labcorp; Eurofins Scientific; Pace Analytical Services, Inc.; Intertek Group Plc; WuXi AppTec, Inc.; North American Science Associates, Inc.; TUV SUD AG; American Preclinical Services; Sterigenics International LLC; Charles River Laboratories International, Inc.; Medical Device Testing Services; RJR Consulting, Inc.; Mandala International.; Freyr; Global Regulatory Partners, LLC; Parexel International Corp.; Emergo; Bioteknica; Accell Clinical Research; Genpact Ltd.; Criterium, Inc.; PRA Health Sciences; Promedica International; Medpace Holdings, Inc.; Icon PLC.; Iqvia Holdings Inc.; Integer Holdings Corporation; Tecomet Inc.; Jabil Inc.; Flex Ltd.; Celestica Inc.; Sanmina Corp.; Plexus Corp.; Phillips Medisize; Cantel Medical Corp. and West Pharmaceutical Services, Inc

The market survey offers compelling insights into key factors enabling growth through the assessment period. It underscores hidden opportunities across diverse segments. Besides uncovering hidden opportunities, the report presents exclusive insights into challenges posing threat to growth. Alongside this, it offers recommendations to navigate through unforeseen hindrances in the future, while keeping the business afloat.

Overview of Medical Device Outsourcing Market Study

Medical Device Outsourcing market study conducted by Vision Research Reports is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies and their customers to make informed decision to sustain growth through the assessment period.

Scope of the Study

This Medical Device Outsourcing market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, Middle East and Africa. This research report offers scenario and forecast (revenue/volume), and categorizes market by players, product, application, and region. This report also studies global market prominence, competitive landscape, market share, growth rate market dynamics such as drivers, restraints and opportunities, and distributors and sales channel.

This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers competitive scenario which comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.

By Regional Analysis

On the basis of geographies, the global market has been divided into Asia Pacific, North America, Latin America, and MEA. Asia Pacific region dominated the global market in 2021 with the largest revenue share of 41.52%.

The presence of market players and competitive pricing are other supporting factors that are anticipated to drive this regional market, the increasing demand for medical devices owing to the growing patient population suffering from chronic and infectious diseases is fueling the market growth in this region.

North America is also anticipated to register significant growth over the forecast period. This is owing to the well-established manufacturing hubs for high-end, consistent, and complex medical devices.

Key Players

  • SGS SA
  • Labcorp
  • Eurofins Scientific
  • Pace Analytical Services, Inc.
  • Intertek Group Plc
  • WuXi AppTec, Inc.
  • North American Science Associates, Inc.
  • American Preclinical Services
  • Sterigenics International LLC
  • Charles River Laboratories International, Inc.
  • Medical Device Testing Services
  • RJR Consulting, Inc.
  • Mandala International
  • Freyr
  • Global Regulatory Partners, LLC
  • Parexel International Corp.
  • Emergo
  • Bioteknica
  • Accell Clinical Research
  • Genpact Ltd.
  • Criterium, Inc.
  • PRA Health Sciences
  • Promedica International
  • Medpace Holdings, Inc.
  • Icon PLC.
  • Iqvia Holdings Inc.
  • Integer Holdings Corp.
  • Tecomet Inc.
  • Jabil Inc.
  • Flex Ltd.
  • Celestica Inc.
  • Sanmina Corp.
  • Plexus Corp.
  • Phillips Medisize
  • Cantel Medical Corp.
  • West Pharmaceutical Services, Inc.

Market Segmentation

  • By Service
    • Quality Assurance
    • Regulatory Affairs Services
      • Clinical Trials Applications & Product Registrations
      • Regulatory Writing & Publishing
      • Legal Representation
      • Other
    • Product Design and Development Services
      • Designing & Engineering
      • Machining
      • Molding
      • Packaging
    • Product Testing & Sterilization Services
    • Product Implementation Services
    • Product Upgrade Services
    • Product Maintenance Services
    • Contract Manufacturing
      • Accessories Manufacturing
      • Assembly Manufacturing
      • Component Manufacturing
      • Device Manufacturing
  • By Application
    • Cardiology
      • Class I
      • Class II
      • Class III
    • Diagnostic Imaging
      • Class I
      • Class II
      • Class III
    • Orthopedic
      • Class I
      • Class II
      • Class III
    • IVD
      • Class I
      • Class II
      • Class III
    • Ophthalmic
      • Class I
      • Class II
      • Class III
    • General and Plastic Surgery
      • Class I
      • Class II
      • Class III
    • Drug delivery
      • Class I
      • Class II
      • Class III
    • Dental
      • Class I
      • Class II
      • Class III
    • Endoscopy
      • Class I
      • Class II
      • Class III
    • Diabetes care
      • Class I
      • Class II
      • Class III
    • Others
      • Class I
      • Class II
      • Class III
  • Regional
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Italy
      • Spain
      • Switzerland
      • The Netherlands
      • Sweden
      • Belgium
      • Russia
    • Asia Pacific
      • Japan
      • China
      • India
      • Australia
      • South Korea
      • Singapore
      • Malaysia
      • Thailand
      • Taiwan
      • Indonesia
      • Philippines
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
      • Chile
    • Middle East and Africa (MEA)
      • South Africa
      • Saudi Arabia
      • Israel
      • UAE
      • Egypt

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Key Points Covered in Medical Device Outsourcing Market Survey

  • Demand will remain high in the U.S., backed by favorable reimbursement policies and presence of some of the leading market players.
  • Europe will continue showcasing high demand. Sales will remain high, especially in the U.K., Germany, France, and other countries.
  • China and India will exhibit high demand for Medical Device Outsourcing, backed by expanding healthcare sector.
  • Focus on research and development will increase in Brazil, creating opportunities for the expansion of the Medical Device Outsourcing market.
  • In terms of (segment type), (segment name) will emerge as the top-choice.
  • Hospitals are expected to showcase higher demand for Medical Device Outsourcing on account of greater access to advanced technologies and higher footfall of patients.
  • Driven by the presence of some of the leading pharmaceutical producers, demand in the Japan Medical Device Outsourcing market will continue increasing at a high pace.

Some of the key highlights covered in the report includes:

  • Medical Device Outsourcing Market Demand-Supply Analysis – The report covers detailed insights into demand and supply forces prevailing in the global Medical Device Outsourcing market. It examines trends and factors influencing demand for Medical Device Outsourcing globally and gauges the impact of the same on the production.
  • Medical Device Outsourcing Pricing Analysis – The report presents exclusive pricing analysis. It compares pricing strategies adopted by the leading market players and identifies the most remunerative strategies.
  • Market Segmentation – The report segments the global market in terms of diverse criteria. It identifies the leading segment within each category and identifies growth drivers and restraints affecting growth across each segment.
  • Regional Analysis – The report segments the market in terms of North America, Europe, Latin America, Asia Pacific, and Rest of the World in terms of region. It has chapters exclusively dedicated to analyzing growth trends across each region. It identifies growth drivers as well challenges affecting demand for Medical Device Outsourcing across the world.
  • Competitive Analysis – Some of the leading market players are profiled in the report on Medical Device Outsourcing. The report offers estimation of share individually help by the market players and determines the impact of some of their popular strategies.
  • COVID-19 Impact Analysis – This chapter is exclusively dedicated to gauging how the market has evolved or will develop in the post-pandemic era.
  • Growth Recommendations – In the end, the report presents valuable recommendations to ready businesses for unforeseen challenges in the near future.

Why should you invest in this report?

If you are aiming to enter the global Medical Device Outsourcing market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Medical Device Outsourcing are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2022-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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