ALL >> Business >> View Article
Medical Device Contract Manufacturing Market Growth By Device Type And Class - Forecast 2024
According to research report the medical device contract manufacturing market is projected to reach USD 91.3 billion in 2024 from an estimated USD 55.0 billion by 2024, at a CAGR of 10.6% during the forecast period.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=170622851
Factors such as increasing automation in the manufacturing of medical devices and advanced technologies integrating electronics and medical devices are expected to drive the growth of the medical device outsourcing market. The increased connectivity and data-gathering capabilities of these technologies make it possible to build high-volume, regulation-compliant manufacturing processes with efficient inventory and production management. With the increasing adoption of Industry 4.0 technologies in manufacturing critical and sophisticated medical devices, the medical device contract manufacturing market is expected to grow significantly during the forecast period.
Class II medical devices are estimated to hold the largest share of the medical device outsourcing market in 2019
Class II medical devices ...
... are expected to account for a major share of the market in 2019, followed by Class I and Class III devices, respectively. The large share of this segment can be attributed to the large number of medical devices that fall under this device class and fewer regulatory compliance necessities than Class III devices.
The IVD devices segment is expected to account for the largest share of the medical device contract manufacturing market in 2019
In 2019, the IVD devices segment is likely to account for the largest share of the medical device outsourcing market. The share of this segment can be attributed to the increasing volume of IVD tests performed globally, a growing number of hospitals and clinical laboratories in developing countries, automation and technological advancements in instruments with high-throughput capabilities, and advances in life science research.
By service type, the device development and manufacturing services segment is estimated to account for the largest share of this market in 2019
In 2019, the device development and manufacturing services segment is expected to account for the largest share of the global medical device outsourcing market. The increasing adoption of contract manufacturing services by OEMs in the medical device industry, growing consumption of medical devices, and the improving capabilities for device development and manufacturing are the major factors responsible for the large share of the device development and manufacturing services segment.
APAC is expected to dominate the market in 2019
APAC is estimated to account for the largest share of the medical device outsourcing market in 2019, followed by North America. The dominant share of APAC is mainly due to the lower cost of raw material and labor as compared to the developed countries. The increasing demand for medical devices due to the improving healthcare infrastructure, adoption of technologically advanced products, and the less stringent regulatory scenario compared to most developed countries are some of the other factors contributing to the higher market share of the APAC region.
Request For Report Sample: https://www.marketsandmarkets.com/requestsampleNew.asp?id=170622851
The key players in the global medical device contract manufacturing market are Flex Ltd. (Singapore), Jabil Inc. (US), TE Connectivity, Ltd. (Switzerland), Sanmina Corporation (US), Nipro Corporation (Japan), Celestica Inc. (Canada), Plexus Corporation (US), Benchmark Electronics, Inc. (US), Integer Holdings Corporation (US), and Gerresheimer Ag (Germany).
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
sales@marketsandmarkets.com
An innovative professional with 6+ years of progressive experience within the Healthcare industry. with the skills to drive business growth, capitalize on new revenue potential, and manage all aspects of daily internet / eCommerce operations.
Add Comment
Business Articles
1. How Global Trade Finance Facilitates Cross-border Transactions And Reduces RiskAuthor: Riddhi Divan
2. Innovative Uses Of Nickel In Cryogenic And Marine Environments
Author: Online fittings
3. Implementing Predictive Analytics In Your Abm Toolkit
Author: SalesMark Global
4. Comparing The Top 5 Live Commerce Platforms For 2024
Author: Amy Williams
5. Data-driven Precision Marketing For Effective Demand Generation
Author: SalesMark Global
6. Supercharge Your Sales With Optimized Pipeline Velocity
Author: SalesMark Global
7. Best Japan Tour Packages
Author: bharathi
8. Adani Group Stocks Down 20%; Gautam Adani Indicted In Us Over Bribery Charges
Author: Bizzbuzz
9. High-performance Ss Round Bars: Addressing The Energy Sector's Needs
Author: Neelkamal Alloys LLP
10. The Role Of Modern Washroom Solutions In Maintaining Cleanliness
Author: ritika krishna
11. Why Choose Premium Taxi Services In Kochi?
Author: maya
12. Black Magic Astrologer In Kasaragod
Author: Sripandith05
13. The Health Benefits Of Adding Pineapple To Your Pancakes
Author: maya
14. Top Luxury Resorts In Kerala For Your Dream Vacation
Author: maya
15. How To Start Your Shopping Website In Doha: A Simple Guide
Author: maya