Medical device outsourcing market is projected to witness a CAGR of 10.42% during the forecast period to reach a total market size of US$63.968 billion by 2023, increasing from US$35.297 billion in 2017. There has been a rising demand for medical device outsourcing services owing growing need to reduce manufacturing and operation cost across medical device manufacturing industry. Rising global geriatric population, increasing number of advanced healthcare facilities, and favourable insurance reimbursement policies are some of the factors that are fuelling the growth of global medical device outsourcing market. Booming medical tourism industry in APAC and Middle East countries is significantly driving the demand for medical device outsourcing solutions and services across these regions. However, the medical device outsourcing market is expected to face challenges during the forecast period due to growing product engineering complexities.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Medical Device Outsourcing value chain. Last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report are Baxter, CFI Medical, Sterigenics International LLC, UMC Global, and ProMed Molded Products among others.
- ·Regulatory Consulting Services
- ·Product Design and Development Services
- ·Product Testing and Sterilization Services
- ·Product Implementation Services
- ·Product Upgrade and Maintenance Services
- ·Contract Manufacturing Services
- ·Drug Delivery
- ·Orthopedics and Spine
- ·IVD (In-Vitro Diagnostic Device)
- ·Diagnostic Imaging
- Saudi Arabia