Medical Device Contract Manufacturing Market (By Product: Diagnostic and Monitoring Devices, Therapeutic Devices, Drug Delivery Devices, Other Devices; By Service: Product Design and Development Services, Product Manufacturing and Assembly Services, Quality Services, Regulatory Consulting Services, Packaging & Sterilization Services; By Device Type: Electronic MDCM, Non-Electronic MDCM; By Application: Cardiology, Diagnostic Imaging, Orthopedic, Endoscopy, Dental, Diabetes Care, Wound Management, Nephrology, In-Vitro Diagnostics, Respiratory, Other Applications) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

The global medical device contract manufacturing market size is expected to reach around US$ 97,500 Mn by 2027 and is anticipated to grow at a CAGR of around 7% in terms of revenue during the forecast period 2020 to 2027.

The manufacturing of medical devices requires funding for the manufacture of medical devices from third parties. The commercial manufacturing of medical devices helps businesses, without diverging from their main operations, to manufacture products based on the new developments. The manufacturing of medical devices allows companies to focus on their key operations such as drug or service promotion that in effect enhances the business growth.

Market Insights

The key factors driving the growth of medical device contract manufacturing market includes technological advancement, increasing number of diseases, highly innovative devices, speedy delivery of medical devices, cost-effective, and increasing awareness among people regarding healthcare. However, the major factor that hamper the growth of market are undifferentiated industry structures, stringent policy controls, emerging frameworks for health care delivery and unequal socio-economic groups. Highly attractive history and a rather stable market are projected to offer new players and new entrants in the global manufacturing market for medical devices additional opportunities.

Report coverage

The market research study on “Medical Device Contract Manufacturing Market (By Product: Diagnostic and Monitoring Devices, Therapeutic Devices, Drug Delivery Devices, Other Devices; By Service: Product Design and Development Services, Product Manufacturing and Assembly Services, Quality Services, Regulatory Consulting Services, Packaging & Sterilization Services; By Device Type: Electronic MDCM, Non-Electronic MDCM; By Application: Cardiology, Diagnostic Imaging, Orthopedic, Endoscopy, Dental, Diabetes Care, Wound Management, Nephrology, In-Vitro Diagnostics, Respiratory, Other Applications) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global medical device contract manufacturing market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global medical device contract manufacturing market are product, service, device type, application, and major geographic regions. The medical device contract manufacturing market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.

North America holds the world's largest market share in the manufacture of medical devices, with the U.S. being the country which generates highest revenue. Growing demands for innovative and effective medical devices due to rise of the US economy, the medical costs, the medical needs of the elderly population and an ever-rising number of cases of surgery. The growth of Asia Pacific over the forecast period is projected to be the fastest. In Asia Pacific such as China is attractive contract manufacturing country. This is the key reason that the majority of companies in the field of medical devices chose to make their equipment in region, largely due to low labour costs, increased technological expertise and low operating costs. In addition, the number of patients with disabilities, such as cardiac and neurological, in Asia Pacific has raised demand for contract manufacturer of medical devices. As Asia-Pacific is a promising destination for the contract production market of medical instruments due to development facilities for high-end, secure and specialized medical equipment.

Key Players

The global market for medical device is extremely competitive, with no single industry leader offering significant opportunities for small and medium businesses with different goods or services on the industry. The top 10 players have the least market share and other players control the rest of the market. Major players included in this report Benchmark Electronics, Inc., Nemera Development SA, FLEX LTD., Jabil Inc., West Pharmaceutical Services, Inc., Phillips-Medisize Corporation, Integer Holdings Corporation, Nordson Corporation, and others.

The global medical device contract manufacturing market is segmented as below:

Market Segmentation

Medical Device Contract Manufacturing Market By Product

• Diagnostic and Monitoring Devices
• Therapeutic Devices
• Drug Delivery Devices
• Other Devices

Medical Device Contract Manufacturing Market By Service

• Product Design and Development Services
• Product Manufacturing and Assembly Services
• Quality Services
• Regulatory Consulting Services
• Packaging & Sterilization Services

Medical Device Contract Manufacturing Market By Device Type

• Electronic MDCM
• Non-Electronic MDCM

Medical Device Contract Manufacturing Market By Application

• Cardiology
• Diagnostic Imaging
• Orthopedic
• Endoscopy
• Dental
• Diabetes Care
• Wound Management
• Nephrology
• In-Vitro Diagnostics
• Respiratory
• Other Applications

Medical Device Contract Manufacturing Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa