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Medical Device Outsourcing Market Size, Developments Status, Trends and Leading Players Analysis, Forecast 2027

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The global Medical Device Outsourcing market size is expected to surpass around US$ 231.0 billion by 2027 and the market is expected to garner growth at a CAGR of 9.98% over the forecast period 2021 to 2027.

The Medical Device Outsourcing market report covers a detailed analysis for the historic period 2017-2020, considering 2021 as the base year and forecast (growth) for 2021-2027.

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Growth Factors

Continuously, rising occurrence of chronic ailments is one of the foremost factors subsidizing to the growth of medical device outsourcing market. Regulatory bodies are mostly concentrating on the quality of the healthcare devices delivered to the public. Therefore this is inspiring numerous companies in the market to bid numerous services such as regulatory consulting. For instance, the European Medical Device Regulation commences special impulsive inspection of outsourced products to test the quality along with conformity with standards.

The vital influencer of medical device outsourcing market is the profitable and swift manufacturing of products. Manufacturers subcontract the production of their goods to decrease time and cost. Furthermore, as a replacement for fetching in equipment to manufacture medical devices, it is desirable for the producers to subcontract the production operations completely to contract manufacturing organizations (CMOs) based in China, Taiwan, and South Korea, and numerous other nations in order to competently handle maintenance and quality.

Market Report Scope

Report Highlights Details
Market Size USD 231 Billion by 2027
Growth Rate CAGR of 9.98% from 2021 to 2027
Largest Market Asia Pacific
Fastest Growing Market North America
Base Year 2021
Forecast Period 2021 to 2027

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Market Overview

A recent study by Precedence Research on the Medical Device Outsourcing market offers a forecast for 2021 and 2027. The study analyzes crucial trends that are currently determining the growth of the Medical Device Outsourcing market. This report explicates on vital dynamics such as the drivers, restraints, and opportunities for key market players, along with key stakeholders as well as emerging players associated with the manufacturing of Medical Device Outsourcing. The study also provides the dynamics that are responsible for influencing the future status of the Medical Device Outsourcing market over the forecast period.

A detailed assessment of the Medical Device Outsourcing market value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the Medical Device Outsourcing market along with their product portfolio enhances the reliability of this comprehensive research study.

Report Highlights

  • In 2019, contract manufacturing garnered majority of share in service segment on account of growing trend of outsourcing, particularly in emergent countries
  • In 2019, Asia Pacific lead medical device outsourcing market with prominent revenue share. High demands for new-fangled technologies plus developing healthcare infrastructure are likely to expedite the governance of this region in medical device outsourcing marketplace during the estimate period
  • The quality assurance segment is projected to observe the utmost CAGR over the estimate period
  • North America is estimated to observe the firmest growth throughout the estimate period due to growing occurrence of chronic illnesses in this region

Regional Snapshots

In 2019, North America emerged as one of the major markets for medical device outsourcing services. This growth is on account of existence of great number of medical device companies, and easy accessibility of high-end medical devices in the region.

Asia Pacific medical device outsourcing market is anticipated to exhibit the firmest growth in demand and is foreseen to propagate at a strong CAGR throughout the estimate period. This growth is credited to low cost of labor and relatively less costly infrastructure price than other established economies across the globe. Tremendous growth in the Asia Pacific region is also augmented by the existence of a enormous patient pool undergoing from chronic disorders and upsurge in the requirement for reasonable medical devices.

Multiple significant participants in the medical device outsourcing market are anticipated to observe abundant growth prospects in established countries. The numerous international medical device establishments select to manufacture their devices in emergent nations of Asia Pacific because of small labor costs and great quality. For example, labor cost is quite less in India, Vietnam, and Indonesia in comparison with other countries. However, China has observed noteworthy increase in labor cost in the latest few years. Numerous Asian nations produce medical device products including rubber gloves, drainage bags and surgical tapes in great number, on account of less overhead for utilities, cheap raw materials, equipment, rent, and medical device components. In addition, companies there also create sophisticated Class III medical devices, like drug-eluting stents.

OBJECTIVES OF THE STUDY

  • To analyze and forecast the electric motor market, in terms of value and volume
  • To provide information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To define, segment, and project the size of the global electric motor market on the product type, end-use and other segments
  • To project the size of the market, with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America, with their key countries
  • To strategically analyze micro markets with respect to individual growth trends, growth prospects, and their contribution to the total market
  • To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
  • To strategically profile key players and comprehensively analyze their core competencies
  • To track and analyze research & development (R&D) and competitive developments such as joint ventures, mergers & acquisitions, and new product developments in the electric motor market

Research Methodology

  • Market estimate for 2020
  • Average selling price (ASP) per region for specific product type
  • Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
  • Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
  • National government documents, statistical databases
  • News articles, press releases, and webcasts specific to companies operating in the market
  • Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
  • Determination of market penetration by country

Major Players Covered in this Report

The updated market research report on electric motor market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

Major key players operating in the market are

  • Intertek Group PLC
  • TüvSüd AG
  • Wuxi Apptec
  • SGS SA
  • Toxikon, INC.
  • Eurofins Scientific
  • American Preclinical Services
  • Sterigenics International LLC
  • Pace Analytical Services LLC.
  • North American Science Associates, Inc.
  • Charles River Laboratories International, Inc.

Segments Covered in the Report

By Service

  • Product Upgrade Services
  • Regulatory Affairs Services
    • Legal representation
    • Clinical trials applications
    • Regulatory writing and publishing
  • Quality Assurance
  • Product Maintenance Services
  • Product Testing & Sterilization Services
  • Product Design and Development Services
    • Molding
    • Designing & engineering
    • Machining
    • Packaging
  • Product Implementation Services
  • Contract Manufacturing
    • Accessories manufacturing
    • Component manufacturing
    • Device manufacturing
    • Assembly manufacturing

By Application

  • Drug delivery
  • Dental
  • Diabetes care
  • Cardiology
  • Endoscopy
  • IVD
  • Ophthalmic
  • Diagnostic imaging
  • Orthopedic
  • General and plastic surgery
  • Others

 By Regional

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Middle East & Africa
  • Latin America

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 2021-2027, 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.

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

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 Outsourcing Market, By Service

7.1. Medical Device Outsourcing Market, by Service Type, 2020-2027
7.1.1. Product Upgrade Services
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Regulatory Affairs Services
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Quality Assurance
7.1.3.1. Market Revenue and Forecast (2016-2027)
7.1.4. Product Maintenance Services
7.1.4.1. Market Revenue and Forecast (2016-2027)
7.1.5. Product Testing & Sterilization Services
7.1.5.1. Market Revenue and Forecast (2016-2027)
7.1.6. Product Design and Development Services
7.1.6.1. Market Revenue and Forecast (2016-2027)
7.1.7. Product Implementation Services
7.1.7.1. Market Revenue and Forecast (2016-2027)
7.1.8. Contract Manufacturing
7.1.8.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Medical Device Outsourcing Market, By Application

8.1. Medical Device Outsourcing Market, by Application, 2020-2027
8.1.1. Drug Delivery
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Dental
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Diabetes care
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.4. Cardiology
8.1.4.1. Market Revenue and Forecast (2016-2027)
8.1.5. Endoscopy
8.1.5.1. Market Revenue and Forecast (2016-2027)
8.1.6. IVD
8.1.6.1. Market Revenue and Forecast (2016-2027)
8.1.7. Ophthalmic
8.1.7.1. Market Revenue and Forecast (2016-2027)
8.1.8. Diagnostic imaging
8.1.8.1. Market Revenue and Forecast (2016-2027)
8.1.9. Orthopedic
8.1.9.1. Market Revenue and Forecast (2016-2027)
8.1.10. General and plastic surgery
8.1.10.1. Market Revenue and Forecast (2016-2027)
8.1.11. Others
8.1.11.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global Medical Device Outsourcing Market, Regional Estimates and Trend Forecast

9.1. North America
9.1.1. Market Revenue and Forecast, by Service (2016-2027)
9.1.2. Market Revenue and Forecast, by Application (2016-2027)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Service (2016-2027)
9.1.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Service (2016-2027)
9.1.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Service (2016-2027)
9.2.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Service (2016-2027)
9.2.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Service (2016-2027)
9.2.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Service (2016-2027)
9.2.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Service (2016-2027)
9.2.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Service (2016-2027)
9.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Service (2016-2027)
9.3.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Service (2016-2027)
9.3.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Service (2016-2027)
9.3.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Service (2016-2027)
9.3.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Service (2016-2027)
9.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Service (2016-2027)
9.4.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Service (2016-2027)
9.4.4.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Service (2016-2027)
9.4.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Service (2016-2027)
9.4.6.2. Market Revenue and Forecast, by Application (2016-2027)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Service (2016-2027)
9.5.2. Market Revenue and Forecast, by Application (2016-2027)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Service (2016-2027)
9.5.3.2. Market Revenue and Forecast, by Application (2016-2027)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Service (2016-2027)
9.5.4.2. Market Revenue and Forecast, by Application (2016-2027)

Chapter 10. Company Profiles

10.1. Intertek Group PLC
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. TüvSüd AG
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Wuxi Apptec
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. SGS SA
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. Toxikon, INC.
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Eurofins Scientific
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. American Preclinical Services
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Sterigenics International LLC
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Pace Analytical Services LLC.
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. North American Science Associates, Inc.
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
10.11. Charles River Laboratories International, Inc.
10.11.1. Company Overview
10.11.2. Product Offerings
10.11.3. Financial Performance
10.11.4. Recent Initiatives

Chapter 11. Research Methodology

11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions

Chapter 12. Appendix

12.1. About Us
12.2. Glossary of Terms

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Janet Edward

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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