The Worldwide Medical Device Contract Manufacturing Industry is Expected to Reach $113.3 Billion by 2026 at a CAGR of 11.5% from 2021

DUBLIN, July 29, 2021 /PRNewswire/ -- The "Medical Device Contract Manufacturing Market by Device Type (IVD (Equipment, Consumable), Cardiovascular, Diabetes Care, Drug Delivery, Orthopedic, Ophthalmic, Endoscopy Devices), Class of Device (Class I, II, III), & Services - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global medical device contract manufacturing market is estimated to reach USD 113.3 billion in 2026 from USD 65.9 billion in 2021, at a CAGR of 11.5% during the forecast period.

The key factors driving the growth of the medical device contract manufacturing market include the overall growth of the medical devices market, mainly due to rising disease prevalence, life expectancy, and the geriatric population. Technological advancement has prompted end users to overhaul or update their manufacturing systems. As this is a costly process, they look to contract manufacturing. In addition to this, the COVID-19 outbreak has accelerated the adoption of advanced diagnostics and patient care devices for better treatment management.

However, market growth is impeded by the growing consolidation in the medical devices market. To develop their own manufacturing capabilities and save costs, Larger players are focusing on acquiring smaller players and CMOs themselves. This may affect the overall market growth to a certain extent.

IVD segment is expected to witness the fastest growth in the forecast period.

Based on device type, the medical device contract manufacturing market is broadly segmented into IVD devices, diagnostic imaging devices, cardiovascular devices, drug delivery devices, orthopedic devices, respiratory care devices, ophthalmology devices, surgical devices, diabetes care devices, dental devices, endoscopy devices, gynecology/urology devices, personal care devices, neurology devices, and other devices. IVD devices segment is expected to witness the fastest growth during the forecast period. The growth of this segment can be attributed to the increasing volume of IVD tests performed globally, the COVID-19 pandemic, the increasing availability of IVD kits and reagents, the growing number of hospitals & clinical laboratories in developing countries, automation & technological advancements in instruments with high-throughput capabilities, and advances in life sciences research.

Class II segment is expected to witness the fastest growth in the forecast period.

Based on the class of device, the medical device contract manufacturing market is segmented into Class I, Class II, and Class III medical devices. In 2020, the Class II medical devices segment is projected to grow at the highest CAGR in the medical device contract manufacturing market. The growth of this segment can be attributed to the large number of medical devices that fall under this device class and their greater utilization (compared to other classes) by end users and caregivers in the healthcare industry. In addition, due to the outbreak of COVID-19, governments minimized the regulatory compliance on these devices and issued Emergency Use Authorizations (EUA) for diagnostics and PPE kits, thereby boosting the market growth.

Device development and manufacturing services segment accounted for the largest share of medical device contract manufacturing market in 2020

Based on service, the medical device contract manufacturing market is segmented into device development and manufacturing services, quality management services, packaging and assembly services, and other services. The device development and manufacturing services segment dominated this market. The increasing adoption of contract manufacturing services in the medical device industry, growth in the medical devices market (especially in the single-use disposable medical devices market), and improving device development and manufacturing capabilities are the major factors responsible for the large share of this segment.

Asia Pacific accounted for the largest share of the medical device contract manufacturing market in 2020.

Geographically, the medical device contract manufacturing market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2020, the Asia Pacific accounted for the largest market share of the medical device contract manufacturing market. The dominant share of the APAC region is mainly attributed to the lower cost of raw materials & labor compared to the developed countries, the increasing demand for medical devices due to improving healthcare infrastructure, the adoption of technologically advanced products, and the presence of a less stringent regulatory than most developed countries.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Medical Device Contract Manufacturing Market Overview
4.2 Medical Device Contract Manufacturing Market: Developed Vs. Developing Markets
4.3 Medical Device Contract Manufacturing Market: Geographic Growth Opportunities
4.4 Medical Device Contract Manufacturing Market: Regional Mix

5 Market Overview
5.1 Introduction
5.2 Market Drivers
5.2.1 Growth in the Medical Devices Market
5.2.2 Adoption of Robotics and Automation
5.2.3 Technological Advancements in Medical Device Modalities
5.2.4 Impact of Industry 4.0 on the Medical Device Industry
5.3 Market Restraints
5.3.1 Consolidation in the Medical Devices Market
5.4 Market Opportunities
5.4.1 Growing Healthcare Expenditure
5.4.2 Rising Geriatric Population
5.5 Market Challenges
5.5.1 Balancing Technological Capabilities Against Costs
5.6 Porter's Five Forces Analysis
5.7 Regulatory Analysis
5.8 Supply Chain Analysis
5.9 Ecosystem Mapping
5.10 Key Markets for Import and Export (Trade Analysis for Medical Devices)
5.11 COVID-19 Impact on the Medical Device Contract Manufacturing Industry
5.12 Yc-Ycc Shift: Medical Device Contract Manufacturing Market
5.13 Adjacent Markets for Medical Device Contract Manufacturing
5.14 Industry Trends
5.14.1 Increasing Consolidation of Original Equipment Manufacturers and Contract Manufacturing Organizations
5.14.2 Growing Interest of Private Equity Firms in Medical Device Contract Manufacturing
5.14.3 Outsourcing of Medical Device Contract Manufacturing Services

6 Medical Device Contract Manufacturing Market, by Device Type
6.1 Introduction
6.2 IVD Devices
6.2.1 IVD Consumables
6.2.1.1 Increasing Demand for Reagents & Kits and Growing Focus on COVID-19 Screening to Drive the Growth of this Market Segment
6.2.2 IVD Equipment
6.2.2.1 Advances in Life Sciences Research to Support Market Growth
6.3 Diagnostic Imaging Devices
6.3.1 Adoption of New and Advanced Diagnostic Imaging Systems in Developing Countries to Support Market Growth
6.4 Cardiovascular Devices
6.4.1 Rising Prevalence of Cardiovascular Diseases to Drive the Growth of this Market Segment
6.5 Drug Delivery Devices
6.5.1 Infusion Devices and Administration Sets
6.5.1.1 Rising Incidence of Chronic Diseases and the Growing Number of Surgical Procedures to Drive Market Growth
6.5.2 Syringes
6.5.2.1 High Cost of Safety Syringes and the Increasing Incidence of Needlestick Injuries Are the Major Challenges Faced by Manufacturers
6.5.3 Inhalers
6.5.3.1 High Prevalence of Asthma, Copd, and Cystic Fibrosis to Drive Market Growth
6.5.4 Autoinjectors & Pen Injectors
6.5.4.1 Rising Number of Regulatory Approvals for New Drug Therapies and Advancements in Drug Delivery Are Supporting Market Growth
6.6 Orthopedic Devices
6.6.1 High Prevalence of Orthopedic Conditions to Drive the Growth of this Market
6.7 Respiratory Care Devices
6.7.1 COVID-19 to Boost the Demand for the Contract Manufacturing of Respiratory Care Devices
6.8 Ophthalmology Devices
6.8.1 Increasing Prevalence of Ophthalmic Diseases to Drive Market Growth
6.9 Surgical Devices
6.9.1 Increase in the Number of Surgical Procedures to Drive Market Growth
6.10 Diabetes Care Devices
6.10.1 Rising Prevalence of Diabetes is Driving the Demand for Diabetes Devices and Consumables
6.11 Dental Devices
6.11.1 Rising Incidence of Dental Diseases to Drive Market Growth
6.12 Endoscopy Devices
6.12.1 Growth in this Market is Driven by the Rising Patient Preference for Minimally Invasive Procedures
6.13 Gynecology/Urology Devices
6.13.1 Growing Awareness and Preventive Check-Ups for the Late-Phase Diagnosis of Stds Will Propel Market Growth
6.14 Personal Care Devices
6.14.1 Shift in the Consumption Pattern Toward Premium Personal Care Products to Drive Market Growth
6.15 Neurology Devices
6.15.1 Rising Global Burden of Neurological Diseases Will Drive Market Growth
6.16 Other Devices

7 Medical Device Contract Manufacturing Market, by Class of Device
7.1 Introduction
7.2 Comparison of Device Classification by Country/Region
7.2.1 US
7.2.1.1 Class I: General Controls
7.2.1.2 Class II: General Controls with Special Controls
7.2.1.3 Class III: General Controls, Special Controls, and Premarket Approval
7.2.2 Canada
7.2.3 European Union and European Free Trade Association
7.2.3.1 Class I Medical Devices
7.2.3.1.1 Class Is: Non-Invasive Devices
7.2.3.1.2 Class Im: Low-Risk Measuring Devices
7.2.3.2 Class Iia Medical Devices
7.2.3.3 Class Iib Medical Devices
7.2.3.4 Class Iii Medical Devices
7.2.4 Asia-Pacific
7.2.4.1 China
7.2.4.2 India
7.2.4.3 Japan
7.2.4.4 Australia
7.3 Class II Medical Devices
7.3.1 High-Volume Utilization of These Devices by End-users to Support Market Growth
7.4 Class I Medical Devices
7.4.1 Class I Medical Devices Have Minimum Potential to Harm Users
7.5 Class III Medical Devices
7.5.1 These Devices Involve the Highest Level of Associated Health Risks to Patients and Users

8 Medical Device Contract Manufacturing Market, by Service
8.1 Introduction
8.2 Device Development and Manufacturing Services
8.2.1 Device Manufacturing Services
8.2.1.1 Device Manufacturing Services is the Largest and Fastest-Growing Segment of the Device Development and Manufacturing Services Market
8.2.2 Process Development Services
8.2.2.1 Transition from Conventional Contract Manufacturing to Automated Contract Manufacturing & Testing to Drive the Growth of this Segment
8.2.3 Device Engineering Services
8.2.3.1 The Complexity of Device Engineering Services to Support Market Growth
8.3 Quality Management Services
8.3.1 Packaging Validation Services
8.3.1.1 Increasing Product Safety Concerns for Medical Devices is a Key Factor Driving the Market Growth
8.3.2 Inspection and Testing Services
8.3.2.1 These Services Offer the Expertise and Technology to Help Eliminate the Need for Large Capital & Overhead Investments
8.3.3 Sterilization Services
8.3.3.1 The Rising Complexity of Sterility Standards to Drive Market Growth
8.4 Packaging and Assembly Services
8.4.1 Primary and Secondary Packaging Services
8.4.1.1 Growth in the Primary and Secondary Packaging Segment is Driven by Growing Concerns for Patient Safety
8.4.2 Labeling Services
8.4.2.1 Export Bans and Product Recalls Due to Improper Labeling to Support Market Growth
8.4.3 Other Packaging and Assembly Services
8.5 Other Services

9 Medical Device Contract Manufacturing Market, by Region

10 Competitive Landscape

11 Company Profiles
11.1 Key Players
11.1.1 Jabil Inc.
11.1.2 Flex Ltd.
11.1.3 Plexus Corp.
11.1.4 Sanmina Corporation
11.1.5 Integer Holdings Corporation
11.1.6 Celestica Inc.
11.1.7 Gerresheimer Ag
11.1.8 Te Connectivity Ltd.
11.1.9 Nipro Corporation
11.1.10 West Pharmaceutical Services, Inc.
11.1.11 Benchmark Electronics Inc.
11.1.12 Recipharm Ab
11.1.13 Kimball Electronics, Inc.
11.2 Other Players
11.2.1 Nortech Systems Incorporated
11.2.2 Nemera Development Sa
11.2.3 Viant Medical Holdings, Inc.
11.2.4 Tecomet, Inc.
11.2.5 Smc Ltd.
11.2.6 Phillips-Medisize Corporation
11.2.7 Tessy Plastics Corp
11.2.8 Carclo plc
11.2.9 Nolato Gw, Inc. (A Part of Nolato Ab)
11.2.10 Mehow
11.2.11 Tekni-Plex
11.2.12 Peter's Technology

12 Appendix

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