Dublin, Jan. 07, 2025 (GLOBE NEWSWIRE) -- The "Medical Device Contract Manufacturing Market Report 2024-2034" report has been added to ResearchAndMarkets.com's offering.
Medical Device Contract Manufacturing Market will surpass US$85 billion in 2024. The report predicts strong revenue growth through to 2034. The work identifies which organizations hold the greatest potential. Discover their capabilities, progress, and commercial prospects, helping you stay ahead.
This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
Empowering Innovation Through Seamless, End-to-end Medical Device Manufacturing Solutions
Medical device contract manufacturing offers an effective outsourcing model for companies to tap into specialized technical expertise for producing specific components or entire devices. This approach provides significant benefits, such as eliminating the need for internal manufacturing infrastructure, lowering production costs, and allowing companies to focus on core competencies. Contract manufacturers provide a range of services, including product development, device assembly, quality control, regulatory consulting, and supply chain management.
Several factors are driving the growth of this market, including the aging population and the increasing demand for advanced, technology-driven devices that enable faster health monitoring. Additionally, the emphasis on patient-centric devices for diagnostics and clinical research has fuelled the demand for innovative remote monitoring tools that track health metrics remotely.
As outsourcing becomes more prevalent, opportunities for contract manufacturing service providers are expanding. Key industry trends in the coming years will include offering end-to-end services and flexible supply chain solutions. Technological advancements and increased production capacity will be central to growth, with service providers delivering a comprehensive suite of offerings that include product development, distribution, regulatory support, and cutting-edge solutions.
Segment Analysis
In 2024, the device development and manufacturing services segment is projected to hold the largest share of ~30%, of the global medical device contract manufacturing market. This dominance is driven by the rising demand for advanced medical devices and the substantial costs involved in design and development, which include prototype creation, component expenses, regulatory compliance, and clinical trials. The complexity of medical devices, especially high-risk ones requiring rigorous testing, further escalates costs due to the specialized expertise needed to ensure safety and reliability.
As the demand for cutting-edge medical devices to aid in diagnostics, monitoring, and treatment continues to grow, the need for technical expertise in development intensifies. This has led to an industry-wide trend towards outsourcing, where companies increasingly rely on contract manufacturers to leverage their specialized skills. Outsourcing not only streamlines the development process but also accelerates the introduction of innovative devices to the market.
Key Questions Answered
- How is the medical device contract manufacturing market evolving?
- What is driving and restraining the medical device contract manufacturing market?
- How will each medical device contract manufacturing submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2034?
- How will the market shares for each medical device contract manufacturing submarket develop from 2024 to 2034?
- What will be the main driver for the overall market from 2024 to 2034?
- Will leading medical device contract manufacturing markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
- How will the market shares of the national markets change by 2034 and which geographical region will lead the market in 2034?
- Who are the leading players and what are their prospects over the forecast period?
- What are the medical device contract manufacturing projects for these leading companies?
- How will the industry evolve during the period between 2024 and 2034? What are the implications of medical device contract manufacturing projects taking place now and over the next 10 years?
- Is there a greater need for product commercialisation to further scale the medical device contract manufacturing market?
- Where is the medical device contract manufacturing market heading and how can you ensure you are at the forefront of the market?
- What are the best investment options for new product and service lines?
- What are the key prospects for moving companies into a new growth path and C-suite?
Medical Device Contract Manufacturing Market Overview
Market Driving Factors
- Growing Medical Devices Market in Emerging Countries
- Adoption of Robotics and Automation in Manufacturing
- Implementation of International Standards by Contract Manufacturers
- Ongoing Drug Shortages are Increasing Demand for Pharmaceutical Development Services
- Commercial Success of Biologics in Clinical Applications
- Impact of Industry 4.0
Market Restraining Factors
- Adherence to Regulatory Standards
- Threat of Information Loss
- Consolidation in Medical Devices Market
Market Opportunities
- Increasing Healthcare Expenditure in Emerging Economies
- Rising Geriatric Population and Increasing Incidence of Associated Diseases
Emerging Markets and Megatrends
Porter's Five Forces Analysis
PEST Analysis
Company Profiles
- Jabil Inc.
- Gerresheimer AG
- Nordson Corporation
- Teleflex Incorporated
- Celestica Inc.
- Plexus Corp
- SteriPack Group Ltd.
- Nortech Systems, Inc.
- Invetech Pty Ltd.
- Flextronics International, Ltd.
- Benchmark Electronics Inc.
- Integer Holdings Corporation
- STRATEC SE
- West Pharmaceutical Services, Inc.
- Nemera
- Carclo plc
- Kimball Electronics
- TE Connectivity
- Tecomet, Inc.
- Sanmina Corporation
- Creganna Medical
- DynaFlex Technologies
- Europlaz Technologies
- I-Tek Medical Technologies
- Interplex
- Keystone Solutions Group
- MEHOW
- Modern Medical
- Nemera
- Oscor
- Providence Enterprise
- PT Medtech
- Riverside Medical Packaging
- SMC
- SMC Ltd.
- Stellartech Research
- Suzhou Jenitek
- Synecco
- Tecomet, Inc.
- Tekni-Plex, Inc.
- Tessy Plastics
- Trelleborg Sealing Solutions
- Viant
Medical Device Contract Manufacturing Segments
Product
- IVD Devices
- Diagnostic Imaging Devices
- Cardiovascular Devices
- Diabetes Care Devices
- Endoscopy Devices
- Ophthalmology Devices
- Orthopedic Devices
- Dental Devices
- Others
Class of Device
- Class I Medical Device
- Class II Medical Device
- Class III Medical Device
Service
- Device Development and Manufacturing Services
- Quality Management Services
- Packaging and Assembly Services
- Others
North America
- U.S.
- Canada
Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
MEA
- GCC
- South Africa
- Rest of MEA
For more information about this report visit https://www.researchandmarkets.com/r/46ztl0
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
