Medical Device Outsourcing Market Updates

Medical Device Outsourcing Market size was valued at USD 127.4 Billion in 2023 and is poised to grow from USD 142.82 Billion in 2024 to USD 142.82 Billion by 2032, growing at a CAGR of 12.1% during the forecast period (2025-2032).

The global medical device outsourcing market is fragmented with the presence of many well-known international and local companies operating around the globe. The major players of the global market are applying various business development strategies like acquisitions, mergers, collaborations, new product launches, and high technological advancements for expanding their market reach and product portfolio. 'SGS SA ', 'Laboratory Corporation of America Holdings ', 'Eurofins Scientific SE ', 'Pace Analytical Services, Inc. ', 'Intertek Group plc ', 'WuXiAppTec ', 'North American Science Associates, LLC ', 'TUV SUD ', 'GTCR (Sterigenics U.S., LLC) ', 'Charles River Laboratories ', 'RJR Consulting, Inc. ', 'Mandala International ', 'Freyr ', 'Global Regulatory Partners ', 'EQT Private Equity (PAREXEL International Corporation) ', 'UL LLC (Emergo) ', 'Accell Clinical Research, LLC ', 'Criterium, Inc. ', 'iuvo BioScience (Promedica International) ', 'ICON plc. '

Growing Prevalence of Cardiovascular Diseases and Increasing R&D Investments to Drive Market Growth

Rising proliferation of advanced robotics among various medical devices and technology manufacturers across the globe has paved the way for new lucrative opportunities for the medical devices outsourcing market. In the recent years, the demand for specialized robotics system in several applications in medical device manufacturing is propelling the market growth at a significant pace

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.