February 28, 2024

Tech Gadgets Medical

Tech Gadgets Medical, Satisfies The Need

Medical Device Contract Manufacturing Market Size to Reach

Vancouver, Sept. 11, 2023 (GLOBE NEWSWIRE) — The global medical device contract manufacturing market size was USD 211.90 Billion in 2021 and is expected to register a steady revenue CAGR of 9.6% during the forecast period, according to latest analysis by Emergen Research. Rising popularity of Minimally Invasive Surgical (MIS) techniques is a major factor driving market revenue growth. Manufacturers are offshoring production of non-core manufacturing activities to keep up with the demand as it helps them to save labor costs, free up capital, increase worker productivity, and shorten manufacturing lead times.

Don’t Miss Out! Click Here to Access the Sample Report @ https://www.emergenresearch.com/request-sample/1606

According to research, outsourcing often proves to be a financially viable alternative for many major, medium, and small pharmaceutical companies, as fixed expenses for manufacturing biologics products account for about 60%–70% of Cost Of Goods Sold (COGS) and cannot be avoided even during recessive situations.

In addition, increasing contract manufacture of medical devices for orthopedic treatments, which continues to have an impact on market companies’ growth plans, is a major factor driving market revenue growth. Increasing market share is projected to be the result of growing applications in production of cardiovascular devices. There will likely be an influx of new players specializing in orthopedic devices owing to increasing population, which suffers from conditions including arthritis and growing need for personalized equipment.  Moreover, increasing cardiac-related mortality and resulting rise in demand for guidewires, stents, catheters, and implanted devices are other factors rising production of cardiovascular devices and driving revenue growth of the market.

Special Opportunity: Access the Report at a Discount @ https://www.emergenresearch.com/request-discount/1606

Scope of Research

Report Details Outcome
Market Size in 2021 USD 211.90  Billion
CAGR (2022–2030) 9.6%%
Revenue Forecast to 2030 USD 483.53  Billion
Base Year for Estimation 2021
Historical Data 2019–2020
Forecast Period 2022–2030
Quantitative Units Revenue in USD Billion and CAGR in % from 2022 to 2030
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments Covered Medical application, product type, and region
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country Scope U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies Profiled Flex, Ltd., Jabil, Inc. , TE Connectivity, Ltd., Sanmina Corporation, Nipro Corporation, Celestica International, Plexus Corporation, Benchmark Electronics, Inc., Integer Holdings Corporation, Gerresheimer AG, and West Pharmaceutical Services, Inc.
Customization Scope 10 hours of free customization and expert consultation

Major Companies and Competitive Landscape

The global medical device contract manufacturing market is fairly fragmented with many large and medium-sized players accounting for a majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective products. Some major players included in the global medical device contract manufacturing market report are:

  • Flex, Ltd.
  • Jabil, Inc.
  • TE Connectivity, Ltd.
  • Sanmina Corporation
  • Nipro Corporation
  • Celestica International
  • Plexus Corporation
  • Benchmark Electronics, Inc.
  • Integer Holdings Corporation
  • Gerresheimer AG
  • West Pharmaceutical Services, Inc.

Strategic Development

  • On September 5, 2022, Ibex Medical, an Israel based company released the cancer diagnostics platform Galen 3.0. This most recent Galen platform improves gastric, breast, and prostate cancer diagnosis.
  • On June 29, 2021, a research team at Kumamoto University created a microfilter that can quickly separate and obtain minute quantities of cancer cells in blood. This palm-sized device is expected to aid in advanced and new cancer diagnostic techniques based on blood-borne cancer cells, including blood tests for early identification, postoperative care, and relapse monitoring.

Don’t miss out on valuable insights – purchase the report today @ https://www.emergenresearch.com/select-license/1606

Some Key Highlights From the Report

  • The cardiology segment accounted for largest revenue share in 2021. This is attributed to increasing cases of cardiac disorders and growth of outsourcing of cardiological devices. In addition,  there is an increasing number of such devices being outsourced. , owing to complicated nature of cardiovascular devices and rising demand for technical skills.
  • The accessories manufacturing segment accounted for  largest revenue share in 2021.  This is attributed to rising prevalence of cancer, neurodegenerative illnesses, and other ailments.
  • The North America market accounted for largest revenue share in 2021.  This is due to significant number of industry players investing in the medical device contract manufacturing market. It is expected that number of product launches would increase significantly as more biomedical businesses invest in manufacturing of medical devices in this industry.

Take a Deeper Dive: Get Your Copy of the Complete Report @ https://www.emergenresearch.com/industry-report/medical-device-contract-manufacturing-market
Emergen Research has segmented the global medical device contract manufacturing market based on medical applications, product type, and region:

  • Medical Applications Outlook (Revenue, USD Billion; 2019-2030)
    • Cardiology
    • Diagnostic Imaging
    • Others
  • Product type Outlook (Revenue, USD Billion; 2019-2030)
    • Accessories Manufacturing
    • Device Manufacturing
    • Others
  • Regional Outlook (Revenue, USD Billion; 2019-2030)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. France
      3. UK
      4. Italy
      5. Spain
      6. Benelux
      7. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Turkey
      5. Rest of Middle East & Africa

Curated Reports You Shouldn’t Miss: Dive In Now!

Newborn Screening Market Size, Share, Trends, By Technology (Tandem Mass Spectrometry, Pulse Oximetry, Enzyme Based Assay, DNA Assay, Electrophoresis), By Product (Instruments, Reagents, Assay Kits), By Application, Forecasts to 2027

Global Non-Invasive Prenatal Testing Market By Method, By End-Use, By Application, By Region, Forecasts to 2017-2027

Hydralazine Market Analysis By Type (Tablet, Injection), By Application (Hospital, Clinics, Diagnostic Centers, Recovery Centers, Others), By End Use, By Region, Forecast to 2027

GERD Drugs and Devices Market By Route of Administration (Oral and Parenteral), By Drug Type (H2 Receptor Antagonist, Proton Pump Inhibitor (PPIs), Antacids), By Device Type (LINX Management System, Stretta Therapy, Bravo Reflux Testing System), and By Region, Forecasts to 2027

Interventional Oncology Devices Market By Product Type (Support, Embolization, Ablation), By Process, By Cancer Type (Lung Cancer, Liver Cancer, Bone Cancer, Breast Cancer, Prostate Cancer, Kidney Cancer, Others), By Region Forecasts to 2027

Robotics Surgical Simulation Systems Market By Product & Service Type (Conventional Surgery Simulation, Minimally Invasive Surgery Simulation, Others), By Type of Surgery (General Surgery, Endoscopic Surgery, Neurological Surgery, Gynecological Surgery, Cardiac Surgery), By End-use (Hospitals, Surgical Centers, Ambulatory Surgical Centers, Others), and By Region, Forecast to 2028

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.

Contact Us:

Eric Lee

Corporate Sales Specialist

Emergen Research | Web: https://www.emergenresearch.com/

Direct Line: +1 (604) 757-9756

E-mail: sales@emergenresearch.com

Explore Our Japanese Version: Medical Device Contract Manufacturing Market

Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights

Read our Press Release @ https://www.emergenresearch.com/press-release/global-medical-device-contract-manufacturing-market

link