Medical Device Outsourcing

Medical Device Outsourcing Market is on Track to Exceed $ 231 Bn by 2027 According to Precedence Research, the global medical device outsourcing market size was valued at USD 102.3 billion in 2019.

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As per the experts, the medical device outsourcing market is predicted to record a growth rate of 9.98% from 2021-2030 and is projected to reach US$ 231 billion by 2030.

The study provides the overall revenue of the global medical device outsourcing market from 2017 to 2030, considering 2020 as the base year and 2030 as the forecast year.

The global medical device outsourcing 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 outsourcing 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.

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KEY HIGHLIGHTS OF THE STUDY

  • The cardiovascular segment is estimated to grow at the remarkable rate during the study period.
  • Asia Pacific region is projected to grow at the fastest CAGR during the forecast period owing to the growing spending and up gradation of healthcare industry across the region.
  • U.S. dominated the North America Medical Device Outsourcing market and is projected to retain its trend throughout the forecast period.
  • Contract Manufacturing of the services segment exhibited major revenue share in the year 2020, whereas, quality assurance service segment poised to grow at the fastest rate during the foresee future.
  • In the past one decade, the key medtech companies such as Boston Scientific, Medtronic and Abbott have leveraged the benefit of outsourcing medical device manufacturing process to gain operational efficiencies and market competitiveness.

Scope of the Medical Device Outsourcing Market Report

Report Coverage Details
Market Size USD 231.0 billion by 2027
Growth Rate from 2020 to 2027 CAGR of 9.9%
Largest Market North America
Fastest Growing Market APAC
Base Year 2021
Forecast Period 2021 to 2027

Regulatory compliance outsourcing is gaining traction in the current market scenario

Medical device manufacturing players are endlessly collaborating with numerous regulatory compliance outsourcing firms to get their devices launched with economical approval in the global market. The outsourcing firms aids in getting quick approval and timely launch of medical devices with several productive benefits including market penetration in emerging countries.

Furthermore, the key characteristics of medical device industry such as rapid time-to-market (TTM), time-to-volume (TTV), and time-to-profit (TTP) are the crucial part of value chain and are fulfilled through third party manufacturing bodies. The OEMs of different companies have adopted the novel strategy to outsource various business prospects such as production, manufacturing, product designing, prototyping and supply chain management among others. This has further helped in reducing the production time and labor cost and the companies can focus on their core skills such as clinical as well as technological advancements.

Report Scope of the Medical Device Outsourcing Market

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
Segments Covered Service Type, Application Type, Region Type
Companies Mentioned Intertek Group PLC, TüvSüd AG, Wuxi Apptec, SGS SA, Toxikon, INC., Eurofins Scientific, American Preclinical Services, Sterigenics International LLC, Pace Analytical Services LLC.

Top Players Contending in the Market:

The key companies are aiming towards advanced innovations and are predictable to dominate the target market. Foremost players inspiring in the global medical device outsourcing market are as follows:

  • 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

This research report includes complete assessment of the market with the help of extensive qualitative and quantitative insights, and projections regarding the market. This report offers breakdown of market into prospective and niche sectors. Further, this research study calculates market revenue and its growth trend at global, regional, and country from 2016 to 2027. This report includes market segmentation and its revenue estimation by classifying it on the basis of service, application and region as follows:

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

Some of the key highlights of the report are:

  • Market Demand Outlook – The report offers refined forecasts on potential growth prospects for the market. Based on data derived after thorough research by a team of expert analysis, Precedence Research presents the most precise rate of growth for the market for the assessment period starting from 2021 – 2030.
  • Supply Chain Analysis – The purpose of the survey is to help companies identify potential scope for supply chain expansion. The study also presents analysis of unprecedented threats.
  • Competitive Landscape Analysis – Some of the leading companies operating in the medical device outsourcing market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.

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 2021-2030 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.

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

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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Precedence Research

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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