Medical devices outsourcing is the process of contracting a third party for various business purposes such as manufacturing, product designing, prototyping, and supply chain management. This process enables the original equipment manufacturers (OEMs) to reduce the labor cost and production time-scale, thus increasing its demand in the market.
The global medical device outsourcing market generated $44,326 million in 2016, and is projected to reach $83,952 million by 2023, registering a CAGR of 9.5% during the study period. The increase in prices of medical devices, growth in geriatric population, and rise in demand for efficient disease screening and detection techniques, are the major factors that drive the growth of the medical devices outsourcing market. However, threat of loss of confidential information restraints the market growth.
The global medical device outsourcing market is segmented based on product, device regulation type, application, service, and region. Based on product, it is classified into raw materials, electronics, and finished goods. Based on device type, it is divided into class I, II, and III devices. Based on application, it is categorized into orthopedic & spine, cardiovascular, radiology, general medical devices, and others. Based on service provided, it is classified into prototype development, finished device manufacturing, assembly & packaging, and testing & regulatory support services. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Market Benefits:
The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors.
This report provides an extensive analysis of the current and emerging market trends and dynamics in the market through 2016–2023 that helps identify the upcoming market opportunities.
Recent industry trends and developments and the future opportunities are also covered.
Extensive knowledge about the key market players and their strategies is provided.
Comprehensive analysis of the various factors that drive and restrain the growth of the market is provided.
Medical Device Outsourcing Market Key Segments:
By Device Type
Class I Devices
Class II Devices
Class III Devices
Orthopedics and Spine
General Medical Devices
Finished Device Manufacturing
Assembly & Packaging
Testing & Regulatory Support Services
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA