Medical Device Outsourcing Market Regional Analysis

Globally, Asia Pacific dominated the medical device outsourcing market in 2022 accounting for a healthy market share and is projected to retain its position in the forecast period. As the patient cases for various diseases is growing in Asia Pacific, the need for better medical equipment is largely anticipated. The market size for Asia Pacific is likely to grow beyond 40 billion by 2030 owing to increase in healthcare needs for paediatric and geriatric population. For instance, the regional markets in Asia Pacific significantly witnessed a need for CT scanners to detect lung infection and pneumonia during the initial phases of COVID-19 pandemic.

Furthermore, North America is likely to witness a fastest CAGR during the forecast period owing to the presence of well-established manufacturing companies, consistent demand for high-end complex medical devices owing to the rising consumer awareness regarding health issues and concerns. In addition, the availability of highly advanced technology with the growing penetration for cardiovascular diseases is fostering the demand for medical device outsourcing devices in the region over the coming years.