Dublin, Aug. 26, 2021 (GLOBE NEWSWIRE) -- The "Medical Device Outsourcing - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Medical Device Outsourcing Market to Reach $162.4 Billion by 2027
Amid the COVID-19 crisis, the global market for Medical Device Outsourcing estimated at US$92.5 Billion in the year 2020, is projected to reach a revised size of US$162.4 Billion by 2027, growing at a CAGR of 8.4% over the analysis period 2020-2027.
Contract Manufacturing, one of the segments analyzed in the report, is projected to record a 9.1% CAGR and reach US$82.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Quality Assurance segment is readjusted to a revised 10% CAGR for the next 7-year period.
The U.S. Market is Estimated at $40.7 Billion, While China is Forecast to Grow at 9.5% CAGR
The Medical Device Outsourcing market in the U.S. is estimated at US$40.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$17.8 Billion by the year 2027 trailing a CAGR of 9.5% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.8% and 7.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.1% CAGR.
Product Testing & Sterilization Services Segment to Record 7.4% CAGR
In the global Product Testing & Sterilization Services segment, USA, Canada, Japan, China and Europe will drive the 7.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$10 Billion in the year 2020 will reach a projected size of US$16.4 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$12.8 Billion by the year 2027.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Providers of Critical Medical Supplies Gain Traction
- Medical Device Outsourcing: An Introduction
- Quality Remains Guiding Factor
- Medical Device Outsourcing Services
- Classification of Medical Devices
- Medical Device Outsourcing Market by Device Category: 2020E
- Market Outlook
- Asia-Pacific Emerges as a Preferred Outsourcing Destination
- Class II Devices: Important Device Category
- Improving Healthcare Expenditure to Bode Well for Market Growth
- Competitive Landscape
- Consolidation Continues to Mark the Industry
- World Brands
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 74 Featured)
- Benchmark Electronics, Inc.
- Cadence, Inc.
- Celestica, Inc.
- Creganna Medical
- Flex Ltd.
- HCL Technologies Limited
- ICON plc
- Integer Holdings Corporation
- Intertech Engineering Associates, Inc.
- Memry Corporation
- Millstone Medical Outsourcing, LLC
- Nortech Systems, Inc.
- Phillips-Medisize Corporation
- Plexus Corporation
- Providien, LLC
- Sparton Corporation
- Tecomet, Inc.
- Thermo Fisher Scientific, Inc.
- Viant
- West Pharmaceutical Services, Inc.
- WuXi AppTec Co., Ltd.
3. MARKET TRENDS & DRIVERS
- Focus on Core Competencies: A Major Objective of Contract Manufacturing
- An Effective Strategy for Small & Mid-Size Companies
- Offshoring Model Paves Way for Medical Device Market Growth in Emerging Nations
- Contract Manufacturing Gains Importance as a Brand Promotion Channel
- Onshoring Trend Gains Ground
- Rise in Disease Incidences and Access to Modern Therapeutics Foster Growth
- Expanding Role of Outsourcing Partners and Rising Demand for Full-Service Providers
- Contract Manufacturers Look to Innovations in Medical Devices
- Design Engineering to Make Gains
- Product Design & Development Services: High in Demand
- Myriad Benefits Offered Drive Demand for Product Design & Development Services
- R&D and After-Market Engineering Support Services for Medical Devices on the Rise
- CRO Outsourcing Picks Up Momentum
- Product Testing & Certification Services Gain Traction
- OEMs Queue Up for Product Implementation and Supply Chain Services
- Outsourced Regulatory Consulting Services Emerge as New Driving Force
- Outsourcing of IVD Device Manufacturing Gains Momentum
- Orthopedic Contract Manufacturing Market: Favorable Growth Potential
- Medical Electronic Manufacturing Services Providers See Increased Opportunities
- Top 10 Selection Criteria for EMS Partner Ranked by Order of Importance
- Medical Device Miniaturization Drives Demand for Outsourcing Services
- Shortening of Product Lifecycles, Speed to Market to Drive Outsourcing Trend
- A Brief Overview of Major Challenges
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/oo8ruc
