Press Release

Medical Device Contract Manufacturing Market to Grow with a CAGR of 11.46% Globally through 2028

Surge in research and development activities is expected to drive the Global Medical Device Contract Manufacturing Market growth in the forecast period, 2024-2028.

According to TechSci Research report, “Medical Device Contract Manufacturing Market - Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Medical Device Contract Manufacturing Market stood at USD 72.54 billion in 2022 and is anticipated to grow with a CAGR of 11.46% in the forecast period, 2023-2028. Initiatives taken by government based on medical device contract manufacturing has led to favorable market conditions for the Global Medical Device Contract Manufacturing Market. Several factors contribute to the growth of various medical device contract manufacturing products.

In the United States, the Food and Drug Administration (FDA) has been actively supporting medical device innovators, recognizing the importance of advancing healthcare through cutting-edge technologies. The FDA not only provides guidance on regulatory requirements but also encourages the use of novel technologies and fosters collaboration among stakeholders to drive innovation forward.

In addition to the FDA's efforts, BARDA (Biomedical Advanced Research and Development Authority) plays a crucial role in supporting the expansion of domestic manufacturing capacity for ancillary supplies. This investment ensures that the United States is equipped with the necessary infrastructure to meet the growing demand for medical devices and related supplies.

Meanwhile, the Indian government has taken significant steps to boost the medical device industry through the launch of the Production Linked Incentive Scheme for Medical Devices Manufacturing. This scheme aims to provide financial incentives to manufacturers based on their incremental sales, encouraging them to invest in research, development, and production capabilities. Moreover, it promotes the establishment of medical device parks in the country, creating an ecosystem conducive to innovation and growth.

Furthermore, the 'Make in India' initiative presents an exciting opportunity for U.S. medical device companies to leverage India's robust manufacturing capabilities. By tapping into India's skilled workforce and cost-effective production facilities, U.S. companies can enhance their competitiveness while contributing to India's economic development.


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Contract manufacturers play a crucial and indispensable role in the research and development (R&D) process of medical devices. They bring valuable expertise, abundant resources, and robust infrastructure to aid medical device companies in the development of their innovative products. By forming strategic partnerships with contract manufacturers, device companies can not only expedite their product development timelines and minimize their R&D costs but also allocate more time and energy towards refining their core competencies and achieving excellence in their respective fields. This collaborative approach fosters innovation, streamlines operations, and ultimately leads to the creation of cutting-edge medical devices that improve patient outcomes and revolutionize healthcare.

The Global Medical Device Contract Manufacturing Market is segmented into device type, class of devices, services, regional distribution, and company.

Based on its device type, the IVD devices segment held the largest market share in the forecast period. In vitro diagnostic (IVD) devices play a critical role in healthcare, providing valuable information for disease diagnosis and monitoring. To ensure the safety and effectiveness of these devices, they are subject to stringent regulatory standards. Regulatory bodies such as the FDA (Food and Drug Administration) in the United States and EMA (European Medicines Agency) in Europe enforce these regulations. Navigating these regulatory requirements can be challenging for manufacturers, as they require significant investment in quality management systems and regulatory expertise. Compliance with these regulations is necessary to ensure the quality and reliability of IVD devices, ultimately benefiting both healthcare professionals and patients.

Based on region, Asia Pacific segment is expected to grow during the forecast period. 

The Asia-Pacific region boasts a substantial and expanding talent pool of highly skilled workers in the medical device industry. From experienced engineers and technicians to a diverse range of professionals, this workforce possesses the expertise and knowledge required to manufacture intricate and cutting-edge medical devices. With their collective capabilities and dedication, they contribute significantly to the advancement and innovation in this critical sector.

Major companies operating in Global Medical Device Contract Manufacturing Market are:

  • Flex, Ltd.
  • Integer Holdings Corporation
  • Jabil Inc.
  • Synecco Ltd.
  • Invetech Pty Ltd.
  • Gerresheimer AG
  • Sanmina Corporation
  • Nipro Corporation
  • Celestica Industrial LP.
  • Plexus Corp.
  • Benchmark Electronic Inc.
  • TE Connectivity Ltd.
  • Nortech Systems Inc.
  • Eurofins Scientific
  • Kimbal Electronics Group, Inc.


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“Growing application of medical device contract manufacturing in various end user industries are key drivers of the medical device contract manufacturing market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of medical device contract manufacturing with every passing year are anticipated to register an impressive grow to Global Medical Device Contract Manufacturing Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Global Medical Device Contract Manufacturing Market By Device Type (IVD Devices, Diagnostic Imaging Devices, Cardiovascular Devices, Orthopedic Devices, Surgical Devices, Dental Devices, Diabetes Care Devices, Drug Delivery Devices, Ophthalmology Devices, Ophthalmology Devices, Endoscopy and Laparoscopy Devices, Respiratory Care Devices, Neurology Devices, Patient Monitoring Devices, Patient Assistive and Monitoring Devices, 0thers), By Class of Devices (Class II, Class I, Class III), By Services (Device Development & Services, Packaging and Assembly Devices, Quality Management Services), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Medical Device Contract Manufacturing Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Medical Device Contract Manufacturing Market.

 

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