New York, USA, Jan. 24, 2022 (GLOBE NEWSWIRE) -- A new report on the global medical device manufacturing outsourcing market has been added by Research Dive to its repository. According to the report, the global market is expected to hit $104.3 million by 2026, rising at a CAGR of 10.3% from 2019 to 2026. This report is an in-depth study offering meticulous insights into the present situation and future scope of the global industry. The report is drafted by expert market analysts and assures to be a reliable source of data and comprehensive market insights for new market players, investors, prevalent players, stakeholders, shareholders, etc.
Factors Impacting the Medical Device Manufacturing Outsourcing Market Growth:
The key factor boosting the growth of the global medical device manufacturing outsourcing market is the rising cases of chronic ailments such as CVDs (Cardiovascular Diseases), diabetes, cancer, and others worldwide. Moreover, the rising advancements and investments in the quality of healthcare in emerging countries are anticipated to open doors to profitable opportunities for the growth of the market throughout the forecast period. However, the threat of leakage of confidential information is expected to deter market growth.
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The report segments the global medical device manufacturing outsourcing market into device type, service, and region.
IVD (in Vitro Diagnostic) Devices Sub-Segment to Lead the Medical Device Manufacturing Outsourcing Market
The IVD (in Vitro Diagnostic) devices sub-segment of the device type segment is anticipated to grow significantly and garner $14.0 million during the forecast period. This is chiefly owing to the rising demand for IVD (in Vitro Diagnostic) devices owing to their various benefits such as tailored risk estimates, personalized therapies, and identification of faulty genes.
Development and Manufacturing Sub-Segment to Observe Highest Growth
The development and manufacturing sub-segment of the service segment is anticipated to observe the highest growth and surpass $35.6 million during the forecast period. This is chiefly because of the rising advancements in the production of novel medical devices.
North America Medical Device Manufacturing Outsourcing Market to Observe Leading Growth
The report analyzes the global medical device manufacturing outsourcing market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the North America region market is estimated to observe remarkable growth and hit $31.2 million in the forecast period. The growth of this regional market is primarily due to the growing demand for advanced and effective medical devices mainly in nations like Canada and the U.S. for treating several disorders prevalent in this region.
Key Medical Device Manufacturing Outsourcing Market Players
The report lists some of the foremost players operating in the global medical device manufacturing outsourcing market including
- Creganna, FLEX LTD.
- Tecomet, Inc.
- Nortech Systems, Inc.
- Mitutoyo Corporation
- DAIICHI JITSUGYO CO., LTD.
- Hamilton Company.
- Cirtec
- Kinetics Climax Inc.
- Integer Holdings Corporation, and others.
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry.
For instance, in June 2021, Tecomet Inc., a supplier of design & development services and precision manufacturing for original equipment manufacturers in the aerospace, medical device, and defense sector, launched its new location at 6265 Gunbarrel Road in Boulder. - Inquire to Get access for Detailed Top Companies Development Strategy Report
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