The medical device contract manufacturing market was valued at USD 55.14 billion in 2019 and is expected to grow at a CAGR of 10.5% over the forecast period from 2021 to 2028. The contract manufacturing demand for medical devices has expanded in recent years, powered above all by longer life expectancy and rising healthcare spending. This is particularly apparent in emerging economies. In turn, the legislative climate has generated a move towards value-based healthcare approaches, resulting in intensified competitiveness, evolving operating structures and implementing creative methods to drive sustained development in this competitive marketplace. In fact, the increasing geriatric population and resulting rise in the incidence and prevalence of chronic diseases are also accelerating the global adoption of medical devices.
Adroit Market Research report on medical device contract manufacturing market gives a holistic view of the market from 2018 to 2028, which includes factors such as market drivers, restraints, opportunities, and challenges. The market has been studied for historic years from 2018 to 2019, with the base year of estimation as 2020 and forecast from 2021 to 2028. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market competition with company positioning based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global medical device contract manufacturing market have been studied in detail.
North America presently has the largest share of the medical device contract manufacturing solutions market owing to well-established healthcare networks and increasing adoption of new technologies. Asia Pacific will witness higher growth owing, among others, to government-sponsored efforts to improve the healthcare sector and economic reforms by emerging economies such as India, and China.
The scope of the report is segmented into product, and class. Based on the product, the market is sub segmented into IVD devices, diagnostic imaging devices, cardiovascular devices, drug delivery devices, orthopedic devices, ophthalmology devices, diabetes care devices, Others. Based on the class, the market is sub segmented into Class I, Class II, Class III. Key players serving the global market include Flex Ltd., Jabil Inc., TE Connectivity Ltd., Sanmina Corporation, Nipro Corporation, Plexus Corp., SMC Ltd., Consort Medical PLC., Tessy Plastics Corp, Phillips-Medisize Corporation, among other prominent players.
Key segments of the global medical device contract manufacturing market
Product Overview, 2018-2028 (USD Billion)
- IVD Devices
- Diagnostic Imaging Devices
- Cardiovascular Devices
- Drug Delivery Devices
- Orthopedic Devices
- Ophthalmology Devices
- Diabetes Care Devices
Class Overview, 2018-2028 (USD Billion)
- Class I
- Class II
- Class III
Regional Overview, 2018-2028 (USD Billion)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Central and South America
- Rest of Central and South America
- Middle East & Africa
- Rest of Middle East and Africa