USD 73.25 billion
Global Medical Device Contract Manufacturing Market Size, Share, Growth Analysis, By Device Type(IVD devices, drug delivery devices), By Service(Device development and manufacturing services, quality management services and final goods assembly services), By Application(Oncology, neurovascular) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2534 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|
Tables:
94 |
Figures:
75
Global Medical Device Contract Manufacturing Market Insights
Global Medical Device Contract Manufacturing Market size was valued at around USD 73.25 billion in 2022 and is poised to grow from USD 81.53 billion in 2023 to USD 191.58 billion by 2031, at a CAGR of 11.30% over the forecast period (2024–2031).
The growth of this market is attributed to increasing demand for target diseases, growing demand for biosimilars and monoclonal antibodies, and surging uptake of immunotherapy drug categories compared to traditional treatments methods. In addition, the increasing demand for personalized medicinal treatment is anticipated to grow the global market.
Further, the increasing geriatric population followed by growing healthcare expenditure in the developed countries is also helping to propel the market growth during the forecast period. Technological advancements in the medical devices and increasing uptake of robotics and automation are the factors which contribute to the market growth.
US Medical Device Contract Manufacturing Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
IVD devices
Fastest Growth
Patient monitoring devices
Growth Rate
11.30% CAGR
Global medical device contract manufacturing Market ($ Bn)
Country Share for North America Region (%)
Global medical device contract manufacturing Market By device type ($ Bn)
Global medical device contract manufacturing Market By device type (%)
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Global Medical Device Contract Manufacturing Market Segmental Analysis
medical device contract manufacturing market is segmented into device type, service, application, and region. Based on device type, the global market is segmented into IVD devices, drug delivery devices, diagnostic imaging devices, patient monitoring devices, and others. Based on service, the global market is segmented into device development and manufacturing services, quality management services and final goods assembly services. Based on application, the global market is segmented into oncology, neurovascular, urology & gynecology, radiology cardiovascular, orthopedic, and others. Based on region the global market is segmented into North America, Europe, Asia-Pacific, Latin America, and MEA.
Medical Device Contract Manufacturing Market Analysis by Device Type
The IVD devices segment is expected to account for the largest revenue share during the forecast period. The growth of this segment is attributed to increasing IVD test volume, upgradation of healthcare infrastructure, increasing number of hospitals in the developed regions, and the increasing use of IVD kits for the diagnosis of COVID-19.
IVD devices have a variety of applications ranging from self-tests from pregnancy and blood glucose tests for diabetics to sophisticated diagnosis being performed in clinical laboratories. The increasing demand for point-of-care devices and their ability to monitor, diagnose and prevent diseases is also contributing to the segment growth.
Patient monitoring devices segment is expected to grow at the CAGR of 13.1% during the forecast period. The growth of this segment is attributed to changing lifestyle and increasing prevalence of chronic diseases.
Medical Device Contract Manufacturing Market Analysis by Service
Device development and manufacturing services segment is expected to account for the largest revenue share during the forecast period. The growth of this segment is attributed to growing demand for device engineering coupled with device manufacturing services.
Global medical device contract manufacturing Market By device type, 2023 (%)
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Global Medical Device Contract Manufacturing Market Regional Insights
North America is expected to account for the largest revenue share during the forecast period. The growth of this region is attributed to increasing prevalence of chronic diseases, high levels of unhealthy eating and drinking habits among the people living in the United States, growing cancer cases, and increasing technological advancements in the medical devices. The U.S is the leading market in the North America region due to an increase in patients suffering from cancer which leads to the rising need for medical devices that can be helped in the diagnosis and treatment of cancer. This factor is further anticipated to grow the market. In addition, the rising outsourcing activities for the development of medical devices via the companies engaged in contract manufacturing will also lead to an increase in the demand of the medical device contract manufacturing market.
Asia Pacific is expected to witness significant growth during the forecast period. The growth of this region is attributed to rapid economic growth, favourable government's initiatives to provide better healthcare, increasing R&D activities in the pharmaceutical industry, increasing prevalence of diabetics, cardiovascular disorders, and obesity in developing economies.
Global medical device contract manufacturing Market By Region, 2024-2031
- Largest
- Fastest
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Global Medical Device Contract Manufacturing Market Dynamics
Medical Device Contract Manufacturing Market Drivers
Increasing Adoption of Industry 4.0 Technologies to Bolster Market Growth
- The increased connectivity and data-gathering capabilities of these technologies makes it possible to build high-volume, regulation-compliant manufacturing processes with efficient inventory and production management. Governments such as APAC are encouraging the players to integrate 4.0 in their manufacturing processes to further boost the development of technologically advanced medical devices. Hence the increasing adoption of industry 4.0 technologies in manufacturing critical and sophisticated medical devices and enhancing the technology pool is further anticipated to grow the global market.
Medical Device Contract Manufacturing Market Restraints
Consolidation in Medical Devices Market to Hinder Market Growth
- Big medical device manufacturers are actively investing in acquiring small and medium-sized specialized companies to enhance their internal capabilities. This may limit outsourcing to CMOs as the acquirers will have the capabilities to carry out manufacturing in house. Other medical device companies are also acquiring CMOs to reduce their expenses for contract manufacturing. This led to a shift in medical device manufacturing.
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Global Medical Device Contract Manufacturing Market Competitive Landscape
The global medical device contract manufacturing market is competitive due to the presence of prominent players. Advancements in medical technologies have promoted important market players to expand their production capacities by penetrating into developed economies.
Medical Device Contract Manufacturing Market Top Player's Company Profiles
- Flex, Ltd.
- Nortech Systems, Inc.
- Sanmina Corporation
- Nipro Corporation
- Jabil Inc.
- Nemera Development S.A.
- TE Connectivity Ltd.
- Kimball Electronics, Inc.
- Viant Medical
- Celestica International Lp.
- Plexus Corp.
- SMC Ltd.
- Phillips-Medisize Corporation
- Benchmark Electronics Inc.
- Integer Holdings Corporation
- Gerresheimer AG
- Consort Medical PLC
- Tessy Plastics Corp
- Tecomet, Inc.
Medical Device Contract Manufacturing Market Recent Developments
- In March 2024, Medibrane Ltd, a prominent contract manufacturer in the Medical Device industry, is excited to announce a significant milestone with the signing of a manufacturing representation agreement with HnG Medical Incorporated, a leading player in the Chinese healthcare market. This collaboration reflects Medibrane's commitment to broadening its global footprint and introducing its cutting-edge solutions to the dynamic healthcare sector in China.
- In March 2024, KBI Biopharma and Argonaut Manufacturing Services have formed a strategic alliance.
- In March 2024, The Canadian Life Science and Technology Park, Allyant, and IPS have announced a strategic, multi-year partnership aimed at advancing the design and engineering of a state-of-the-art Life Science, Healthcare, and Technology Park. This collaboration leverages expertise in design and construction oversight tailored for specialized turnkey startups, commercial manufacturing, and comprehensive support facilities.
Global Medical Device Contract Manufacturing Key Market Trends
- Miniaturization trend has compelled OEMs and contract manufacturers to innovate compact devices for minimally invasive procedures. These devices are smaller, flexible, less expensive, less power-intensive and easier to transport. Moreover, minimally invasive surgeries employ robotics and endoscopic techniques.
- 3D printing is the emerging trend in the global medical device contract manufacturing market. 3D printers are highly useful in designing prosthetics, metal, polymeric & bio-implants and patient specific jigs.
Global Medical Device Contract Manufacturing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global medical device contract manufacturing market analysis, increasing prevalence of chronic diseases, growing aging population, technological advancements in medical devices, changing lifestyles and unhealthy food habits, rising healthcare expenditure are the factors which anticipated to drive the market growth during the forecast period. In addition, the adoption of industry 4.0 in the developed countries also enhances the market growth. Consolidation in the medical device market is the factor that hindered the market growth. North America is expected to dominate the market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 73.25 billion |
| Market size value in 2031 | USD 191.58 billion |
| Growth Rate | 11.30% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Medical Device Contract Manufacturing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Medical Device Contract Manufacturing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Medical Device Contract Manufacturing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Medical Device Contract Manufacturing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Medical Device Contract Manufacturing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Medical Device Contract Manufacturing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Medical Device Contract Manufacturing Market Report Snapshots
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