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Asia Pacific Medical Device Contract Manufacturing Market By Device Type (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 and Laparoscopy Devices, Gynecology and Urology Devices, Personal Care Devices, Neurology Devices, Patient Monitoring Devices, Patient Assistive Devices, Other Devices); By Class of Device (Class I Devices, Class II Devices, Class III Devices); By Services (Device Development and Manufacturing Services, Quality Management Services, Packaging and Assembly Services, Other Services) – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Price: $2999

Published: | Report ID: 40560 | Report Format : PDF
REPORT ATTRIBUTE DETAILS
Historical Period 2019-2022
Base Year 2023
Forecast Period 2024-2032
Asia Pacific Medical Device Contract Manufacturing Market Size 2023 USD 30,892.14 million
Asia Pacific Medical Device Contract Manufacturing Market, CAGR 8.10%
Asia Pacific Medical Device Contract Manufacturing Market Size 2032 USD 62,270.05 million

Market Overview

The Asia Pacific Medical Device Contract Manufacturing Market is projected to grow from USD 30,892.14 million in 2023 to an estimated USD 62,270.05 million by 2032, with a compound annual growth rate (CAGR) of 8.10% from 2024 to 2032. This substantial growth is driven by the increasing demand for medical devices, fueled by an aging population and the rising prevalence of chronic diseases. As healthcare infrastructure improves and access to medical services expands, the need for advanced medical devices continues to rise, leading to significant opportunities for contract manufacturers in the region. The market’s impressive growth trajectory underscores the vital role of contract manufacturing in meeting the burgeoning demand for medical devices across Asia Pacific.

Several key drivers and trends are shaping the growth of the Asia Pacific Medical Device Contract Manufacturing Market. One of the primary drivers is the cost efficiency achieved through outsourcing manufacturing processes, allowing medical device companies to focus on core competencies such as research and development and marketing. Additionally, advancements in technology and manufacturing processes have enhanced the quality and reliability of medical devices, further boosting demand. The trend towards miniaturization and the integration of advanced technologies, such as the Internet of Things (IoT) and artificial intelligence (AI), into medical devices are also propelling market growth. Furthermore, the increasing regulatory scrutiny and the need for compliance with international quality standards are encouraging companies to partner with experienced contract manufacturers.

Geographically, the Asia Pacific region presents a diverse market landscape with significant growth potential in countries such as China, India, Japan, and South Korea. China and India, with their large populations and expanding healthcare sectors, are major contributors to market growth. Japan and South Korea, known for their advanced technology and innovation in medical devices, also play a crucial role in driving market expansion. Key players in the Asia Pacific Medical Device Contract Manufacturing Market include prominent companies like Jabil Inc., Flex Ltd., Celestica Inc., and Sanmina Corporation, which are leveraging their extensive expertise and technological capabilities to cater to the growing demand for high-quality medical devices. These companies are continuously investing in capacity expansion, technological advancements, and strategic partnerships to strengthen their market position and capitalize on the burgeoning opportunities in the Asia Pacific region.

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Market Drivers

Cost Efficiency and Resource Optimization:

One of the foremost drivers of the Asia Pacific medical device contract manufacturing market is the significant cost efficiency and resource optimization offered by outsourcing manufacturing processes. For instance, outsourcing manufacturing processes can lead to a reduction of operational costs by up to 30-40%. Medical device companies increasingly rely on contract manufacturers to reduce operational costs associated with maintaining and operating large-scale manufacturing facilities. By partnering with contract manufacturers, companies can leverage specialized expertise, state-of-the-art facilities, and economies of scale, leading to substantial cost savings. This strategy enables medical device firms to focus their resources on core competencies such as research and development, product innovation, and marketing. The financial flexibility gained through outsourcing manufacturing operations allows companies to invest more in developing advanced medical devices, thereby enhancing their competitive edge in the market.

Technological Advancements and Innovation:

The rapid pace of technological advancements in the medical device industry is a crucial driver of market growth in the Asia Pacific region. Contract manufacturers are at the forefront of adopting cutting-edge technologies and manufacturing processes that enhance the quality, precision, and reliability of medical devices As an example, the adoption of advanced technologies like additive manufacturing (3D printing) has revolutionized the production of medical devices, enabling the creation of complex and customized products.  Furthermore, the integration of advanced technologies like the Internet of Things (IoT) and artificial intelligence (AI) into medical devices has opened new avenues for innovation. These technological advancements not only improve patient outcomes but also drive the demand for sophisticated manufacturing solutions provided by contract manufacturers. As a result, medical device companies increasingly seek out contract manufacturing partners with the technological capabilities to bring innovative products to market rapidly and efficiently.

Regulatory Compliance and Quality Assurance:

The stringent regulatory environment governing the medical device industry is a significant driver for the growth of the contract manufacturing market in Asia Pacific. Medical devices must adhere to rigorous quality standards and regulatory requirements to ensure patient safety and efficacy. Contract manufacturers with established expertise in regulatory compliance and quality assurance play a critical role in helping medical device companies navigate these complex regulatory landscapes. By partnering with experienced contract manufacturers, companies can ensure that their products meet international quality standards and regulatory requirements, such as ISO 13485 and FDA regulations. To illustrate, partnering with contract manufacturers that have expertise in regulatory compliance can help medical device companies navigate complex regulatory landscapes. This not only mitigates the risk of regulatory non-compliance but also enhances the credibility and marketability of medical devices. The growing emphasis on quality assurance and regulatory compliance drives medical device companies to collaborate with reputable contract manufacturers, thereby fueling market growth.

Growing Healthcare Infrastructure and Demand for Advanced Medical Devices:

The expanding healthcare infrastructure and the rising demand for advanced medical devices in the Asia Pacific region are pivotal drivers of market growth. Countries such as China, India, Japan, and South Korea are witnessing significant investments in healthcare infrastructure, leading to increased access to medical services and improved patient care. The aging population and the rising prevalence of chronic diseases in these countries further contribute to the escalating demand for medical devices. Contract manufacturers play a crucial role in meeting this demand by providing scalable and flexible manufacturing solutions that cater to the diverse needs of the healthcare sector. Additionally, the trend towards personalized medicine and home healthcare has led to the development of innovative medical devices tailored to individual patient needs. Contract manufacturers with the capability to produce customized and high-quality medical devices are well-positioned to capitalize on this growing demand. The continuous expansion of healthcare infrastructure and the increasing adoption of advanced medical technologies in the Asia Pacific region create a conducive environment for the growth of the medical device contract manufacturing market

Market Trends

Shift Towards Advanced Manufacturing Technologies:

One of the prominent trends in the Asia Pacific medical device contract manufacturing market is the adoption of advanced manufacturing technologies.  For instance, the use of advanced manufacturing technologies such as 3D printing has enabled the production of medical devices that were previously impossible to create. These technologies enable the production of complex and highly customized devices with greater precision, catering to the evolving needs of the healthcare sector

Integration of Internet of Things (IoT) and Artificial Intelligence (AI):

 The integration of IoT and AI into medical devices is gaining momentum, driving demand for sophisticated manufacturing capabilities. IoT-enabled medical devices facilitate real-time monitoring and data collection, enhancing patient care and clinical outcomes. AI applications in medical devices, such as diagnostic tools and predictive analytics, are transforming the healthcare landscape. Contract manufacturers are increasingly focusing on incorporating these advanced technologies into their production processes to meet the growing demand for smart and connected medical devices.

Emphasis on Regulatory Compliance and Quality Assurance:

Stringent regulatory requirements and the need for high-quality standards are shaping the contract manufacturing landscape. Companies are prioritizing partnerships with contract manufacturers that have a proven track record of regulatory compliance and robust quality assurance processes.  To illustrate, the number of contract manufacturers with ISO 13485 and FDA certifications has increased significantly in recent years. Contract manufacturers are investing in compliance and quality systems to meet these stringent requirements, enhancing their appeal to medical device companies.

Focus on Sustainability and Environmental Responsibility:

Sustainability and environmental responsibility are becoming critical considerations in the medical device manufacturing industry. For instance, many contract manufacturers have adopted eco-friendly practices, such as using sustainable materials and minimizing waste. This trend aligns with the broader global emphasis on sustainability and corporate social responsibility, as medical device companies seek to reduce their environmental footprint and enhance their brand reputation.

Growth of Personalized and Home Healthcare Devices:

The trend towards personalized medicine and home healthcare is driving demand for innovative medical devices tailored to individual patient needs. Contract manufacturers are responding by developing flexible manufacturing processes that allow for the production of small-batch, customized devices. This trend is particularly significant in the Asia Pacific region, where an aging population and rising prevalence of chronic diseases are fueling the need for personalized healthcare solutions.

Increasing Investment in Research and Development (R&D):

Investment in R&D is a key trend in the Asia Pacific medical device contract manufacturing market. Contract manufacturers are dedicating resources to develop new materials, technologies, and processes that enhance the performance and functionality of medical devices. Collaborative R&D efforts between medical device companies and contract manufacturers are driving innovation, leading to the introduction of cutting-edge products that address emerging healthcare challenges.

Expansion of Manufacturing Capabilities and Capacities:

To meet the growing demand for medical devices in the Asia Pacific region, contract manufacturers are expanding their manufacturing capabilities and capacities. This includes setting up new production facilities, upgrading existing infrastructure, and adopting advanced manufacturing techniques. The expansion efforts are aimed at improving production efficiency, reducing lead times, and enhancing the ability to scale up production in response to market demand.

Market Restraints and Challenges

Stringent Regulatory Requirements:

 One of the primary challenges facing the Asia Pacific medical device contract manufacturing market is the stringent regulatory requirements. Medical devices must comply with rigorous standards and regulations set by authorities such as the U.S. Food and Drug Administration (FDA), the European Medicines Agency (EMA), and local regulatory bodies. Ensuring compliance with these diverse regulatory frameworks is complex and time-consuming, requiring significant investment in quality assurance and regulatory affairs. Non-compliance can lead to product recalls, delays in market entry, and financial penalties, posing a substantial challenge for contract manufacturers.

High Production Costs:

Despite the cost efficiency offered by outsourcing, high production costs remain a significant restraint in the market. The manufacturing of medical devices involves the use of advanced technologies, high-quality materials, and stringent quality control processes, all of which contribute to elevated production costs. Additionally, fluctuating raw material prices and increasing labor costs in certain Asia Pacific countries can further exacerbate the cost challenges. Contract manufacturers must balance these costs while maintaining competitive pricing to attract and retain clients.

Intellectual Property (IP) Concerns:

Protecting intellectual property is a critical concern for medical device companies outsourcing manufacturing operations. The risk of IP theft or misuse is heightened when working with external partners, particularly in regions where IP enforcement may be weak. Contract manufacturers must implement robust IP protection measures and ensure strict confidentiality agreements to address these concerns. Failure to safeguard IP can result in loss of competitive advantage and legal disputes, undermining trust and collaboration between medical device companies and contract manufacturers.

Supply Chain Disruptions:

The Asia Pacific region’s complex and interconnected supply chains are vulnerable to disruptions, which can pose significant challenges for contract manufacturers. Natural disasters, geopolitical tensions, and pandemics like COVID-19 can disrupt the supply of raw materials, components, and finished products, leading to delays and increased costs. Ensuring a resilient and flexible supply chain is essential for contract manufacturers to mitigate these risks and maintain continuous production and delivery of medical devices.

Skilled Workforce Shortage:

The shortage of skilled workforce is another critical challenge in the Asia Pacific medical device contract manufacturing market. The industry requires a highly skilled labor force proficient in advanced manufacturing technologies, quality control, and regulatory compliance. However, there is a growing gap between the demand for skilled workers and their availability. Contract manufacturers must invest in training and development programs to build a competent workforce, which can be a time-consuming and costly endeavor.

Intense Competition:

The market is characterized by intense competition, with numerous local and international contract manufacturers vying for market share. This competitive landscape pressures companies to continuously innovate, enhance operational efficiency, and offer competitive pricing. Smaller contract manufacturers, in particular, may struggle to compete with larger, more established players with greater resources and technological capabilities.

Market Segmentation Analysis

By Device Type

The Asia Pacific region is experiencing a significant rise in demand for In Vitro Diagnostic (IVD) devices, driven by the need for early and accurate disease diagnosis, which in turn is boosting contract manufacturing activities. Advances in imaging technology and a rising prevalence of chronic diseases are contributing to the increased production of diagnostic imaging devices, with manufacturers focusing on innovation to enhance diagnostic capabilities. The high incidence of cardiovascular diseases necessitates the contract manufacturing of stents, pacemakers, and other cardiovascular devices. Innovations in drug delivery methods, such as autoinjectors and wearable devices, are improving patient compliance and treatment efficacy, driving demand for specialized contract manufacturing. The growing number of orthopedic surgeries and the shift towards minimally invasive procedures are increasing the demand for orthopedic devices. Awareness of respiratory conditions and the impact of COVID-19 have significantly boosted the production of respiratory care devices. The aging population, coupled with advancements in vision care technology, is driving demand for ophthalmology devices. Continuous innovations in surgical instruments maintain steady demand, while the rising prevalence of diabetes fuels the need for glucose monitoring systems and insulin delivery devices. Additionally, growing awareness of oral health, minimally invasive surgical trends, and the rising incidence of neurological, gynecological, and urological disorders are augmenting demand across various medical device segments, including personal care, patient monitoring, and assistive devices, further driving contract manufacturing activities.

By Class of Device

Class I medical devices, which are low-risk and include simple medical supplies, see consistent demand due to their broad usage and ease of manufacturing. In contrast, Class II medical devices, such as infusion pumps and surgical drapes, are moderate-risk and drive significant contract manufacturing activities because of their complex manufacturing requirements. High-risk Class III medical devices, including implantable pacemakers and heart valves, require stringent manufacturing processes, which increases the reliance on specialized contract manufacturers to ensure safety and efficacy.

By Services

Device development and manufacturing services dominate the Asia Pacific medical device contract manufacturing market as companies seek specialized skills and advanced capabilities to bring innovative devices to market efficiently and cost-effectively. The stringent regulatory environment in the region necessitates comprehensive quality management services to ensure compliance and maintain high standards, driving demand in this segment. Additionally, the need for sterile, secure, and efficient packaging solutions boosts the market for packaging and assembly services, ensuring product integrity and safety. Other crucial services, such as logistics and supply chain management, support the end-to-end manufacturing process, ensuring timely delivery and market readiness of medical devices.

Segments

Based on Device Type

  • 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 and Laparoscopy Devices
  • Gynecology and Urology Devices
  • Personal Care Devices
  • Neurology Devices
  • Patient Monitoring Devices
  • Patient Assistive Devices
  • Other Devices

Based on Class of Device

  • Class I Devices
  • Class II Devices
  • Class III Devices

Based on Services

  • Device Development and Manufacturing Services
  • Quality Management Services
  • Packaging and Assembly Services
  • Other Services

Regional Analysis

India (25%):

India is a rapidly growing market in the Asia Pacific region, holding a market share of around 25%. The country’s growth is attributed to its expanding healthcare sector, improving healthcare infrastructure, and increasing investments in medical device manufacturing. India’s cost-effective manufacturing capabilities and skilled workforce make it an attractive destination for contract manufacturing. The government’s initiatives to promote the medical device industry, such as the “Make in India” campaign and the establishment of medical device parks, further boost market growth. The rising prevalence of chronic diseases and the growing middle-class population also drive the demand for advanced medical devices in India.

Japan (20%):

Japan accounts for approximately 20% of the Asia Pacific medical device contract manufacturing market share. The country is known for its advanced technology and innovation in medical devices. Japan’s strong regulatory framework, high-quality standards, and emphasis on R&D make it a key player in the market. The aging population and increasing healthcare needs drive the demand for sophisticated medical devices. Japanese contract manufacturers focus on high-precision and high-quality production, catering to both domestic and international markets. The country’s strategic collaborations with global medical device companies further enhance its market position.

South Korea (15%):

South Korea holds a market share of around 15%, driven by its robust technological capabilities and well-developed healthcare system. The country’s focus on innovation and the integration of advanced technologies, such as IoT and AI, into medical devices support market growth. South Korea’s government policies and incentives for the medical device industry also contribute to the expansion of the contract manufacturing market. The increasing demand for medical devices, particularly for home healthcare and chronic disease management, further fuels the market’s growth in South Korea.

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Key players

  • Shimadzu Corporation (Japan)
  • Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
  • Olympus Corporation (Japan)
  • Terumo Corporation (Japan)
  • NIHON KOHDEN CORPORATION (Japan)
  • Lepu Medical Technology (China)
  • Medtronic (Ireland)
  • Stryker (U.S.)
  • Johnson & Johnson Services, Inc.

Competitive Analysis

The Asia Pacific medical device contract manufacturing market is highly competitive, with key players leveraging their extensive expertise and advanced technologies to maintain a strong market presence. Japanese companies such as Shimadzu Corporation, Olympus Corporation, Terumo Corporation, and NIHON KOHDEN CORPORATION dominate the market with their focus on innovation and high-quality standards. Chinese companies like Shenzhen Mindray Bio-Medical Electronics Co., Ltd. and Lepu Medical Technology are rapidly expanding their market share through cost-effective manufacturing and strong domestic demand. Global giants like Medtronic, Stryker, and Johnson & Johnson Services, Inc. bring substantial resources and international experience, enhancing their competitive edge. These companies invest heavily in R&D, strategic partnerships, and technological advancements to cater to the growing demand for advanced medical devices in the Asia Pacific region. The intense competition drives continuous innovation, improving the overall quality and efficiency of medical device manufacturing.

Recent Developments

In January 2023, Shimadzu Corporation announced the launch of its new Advanced i-Series liquid chromatography systems. This development represents a significant enhancement in their analytical instruments portfolio, focusing on improved sensitivity and efficiency for pharmaceutical and medical research applications. The Advanced i-Series aims to streamline laboratory workflows with its user-friendly interface and robust performance, reflecting Shimadzu’s commitment to innovation in medical and scientific equipment.

In March 2023, Shenzhen Mindray Bio-Medical Electronics Co., Ltd. introduced the BeneVision N1, a state-of-the-art patient monitoring system designed for critical care environments. This new product emphasizes portability, real-time data analytics, and integration with hospital information systems. The BeneVision N1 aims to enhance patient outcomes by providing clinicians with comprehensive, real-time patient data, underscoring Mindray’s focus on advancing healthcare technology and improving clinical decision-making.

In October 2022, Olympus Corporation unveiled its next-generation endoscopy system, EVIS X1. This cutting-edge system enhances diagnostic capabilities with advanced imaging technologies such as Narrow Band Imaging (NBI) and Red Dichromatic Imaging (RDI). The EVIS X1 aims to improve the accuracy and efficiency of endoscopic procedures, facilitating early detection and treatment of gastrointestinal diseases. Olympus’s commitment to innovation in medical imaging technology is evident in this significant product launch.

In May 2023, Medtronic announced the acquisition of Intersect ENT, a company specializing in ear, nose, and throat (ENT) medical devices. This strategic move expands Medtronic’s portfolio in the ENT space, incorporating Intersect ENT’s innovative drug-delivery sinus implants. The acquisition aims to enhance patient care by integrating Medtronic’s extensive expertise in medical technology with Intersect ENT’s specialized solutions, reflecting Medtronic’s strategy to broaden its impact in various medical fields through targeted acquisitions.

Market Concentration and Characteristics

The Asia Pacific medical device contract manufacturing market is characterized by a moderate to high level of market concentration, with a few dominant players such as Shimadzu Corporation, Olympus Corporation, and Shenzhen Mindray Bio-Medical Electronics Co., Ltd. holding significant market shares. These leading companies leverage advanced technologies, extensive expertise, and strong regulatory compliance to maintain their competitive edge. The market features a blend of well-established global firms and rapidly growing regional players, creating a dynamic competitive landscape. Key characteristics include a strong focus on innovation, high-quality manufacturing standards, and the integration of cutting-edge technologies like IoT and AI in medical devices. Additionally, the market is driven by cost efficiencies, regulatory adherence, and increasing demand for advanced healthcare solutions across the region.

Report Coverage

The research report offers an in-depth analysis based on Device Type, Class of Device and Service. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market

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Future Outlook

  1. The market is expected to sustain its robust growth, driven by increasing healthcare demands and technological advancements, projecting significant expansion opportunities.
  1. The integration of IoT, AI, and other advanced technologies will fuel demand for sophisticated medical devices, enhancing patient care and clinical outcomes.
  1. Contract manufacturers will continue to invest in expanding their manufacturing facilities and capabilities to meet the growing demand for medical devices in the region.
  1. The regulatory landscape will become more stringent, necessitating heightened focus on compliance and quality assurance among contract manufacturers.
  1. The trend towards personalized medicine and home healthcare will drive the need for customized and small-batch medical device production, promoting innovation in manufacturing processes.
  1. R&D investment will rise, leading to the development of new materials, technologies, and processes that enhance the performance and functionality of medical devices.
  1. Strategic partnerships between medical device companies and contract manufacturers will intensify, fostering innovation and accelerating the introduction of new products to the market.
  1. Sustainable manufacturing practices will gain prominence, with contract manufacturers adopting eco-friendly methods to reduce environmental impact and align with global sustainability goals.
  1. The use of automation and robotics in manufacturing processes will increase, improving efficiency, precision, and scalability in medical device production.
  1. Efforts to build more resilient and flexible supply chains will intensify, ensuring continuity in production and delivery despite potential disruptions.

CHAPTER NO. 1 : INTRODUCTION 15

1.1. Report Description 15

Purpose of the Report 15

USP & Key Offerings 15

1.2. Key Benefits for Stakeholders 15

1.3. Target Audience 16

1.4. Report Scope 16

CHAPTER NO. 2 : EXECUTIVE SUMMARY 17

2.1. Asia Pacific Medical Device Contract Manufacturing Market Snapshot 17

2.2. Asia Pacific Medical Device Contract Manufacturing Market, 2018 – 2032 (USD Million) 19

CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 20

3.1. Russia-Ukraine and Israel-Palestine War Impacts 20

CHAPTER NO. 4 : ASIA PACIFIC MEDICAL DEVICE CONTRACT MANUFACTURING MARKET – INDUSTRY ANALYSIS 21

4.1. Introduction 21

4.2. Market Drivers 22

4.3. Driving Factor 1 Analysis 22

4.4. Driving Factor 2 Analysis 23

4.5. Market Restraints 24

4.6. Restraining Factor Analysis 24

4.7. Market Opportunities 25

4.8. Market Opportunity Analysis 25

4.9. Porter’s Five Forces Analysis 26

CHAPTER NO. 5 : ANALYSIS COMPETITIVE LANDSCAPE 27

5.1. Company Market Share Analysis – 2023 27

5.1.1. Asia Pacific Medical Device Contract Manufacturing Market: Company Market Share, by Volume, 2023 27

5.1.2. Asia Pacific Medical Device Contract Manufacturing Market: Company Market Share, by Revenue, 2023 28

5.1.3. Asia Pacific Medical Device Contract Manufacturing Market: Top 6 Company Market Share, by Revenue, 2023 28

5.1.4. Asia Pacific Medical Device Contract Manufacturing Market: Top 3 Company Market Share, by Revenue, 2023 29

5.2. Asia Pacific Medical Device Contract Manufacturing Market Company Revenue Market Share, 2023 30

5.3. Company Assessment Metrics, 2023 31

5.3.1. Stars 31

5.3.2. Emerging Leaders 31

5.3.3. Pervasive Players 31

5.3.4. Participants 31

5.4. Start-ups /SMEs Assessment Metrics, 2023 31

5.4.1. Progressive Companies 31

5.4.2. Responsive Companies 31

5.4.3. Dynamic Companies 31

5.4.4. Starting Blocks 31

5.5. Strategic Developments 32

5.5.1. Acquisitions & Mergers 32

New Product Launch 32

Asia Pacific Expansion 32

5.6. Key Players Product Matrix 33

CHAPTER NO. 6 : PESTEL & ADJACENT MARKET ANALYSIS 34

6.1. PESTEL 34

6.1.1. Political Factors 34

6.1.2. Economic Factors 34

6.1.3. Social Factors 34

6.1.4. Technological Factors 34

6.1.5. Environmental Factors 34

6.1.6. Legal Factors 34

6.2. Adjacent Market Analysis 34

CHAPTER NO. 7 : ASIA PACIFIC MEDICAL DEVICE CONTRACT MANUFACTURING MARKET – BY DEVICE TYPE SEGMENT ANALYSIS 35

7.1. Asia Pacific Medical Device Contract Manufacturing Market Overview, by Device Type Segment 35

7.1.1. Asia Pacific Medical Device Contract Manufacturing Market Revenue Share, By Device Type, 2023 & 2032 36

7.1.2. Asia Pacific Medical Device Contract Manufacturing Market Attractiveness Analysis, By Device Type 37

7.1.3. Incremental Revenue Growth Opportunity, by Device Type, 2024 – 2032 37

7.1.4. Asia Pacific Medical Device Contract Manufacturing Market Revenue, By Device Type, 2018, 2023, 2027 & 2032 38

7.2. IVD Devices 39

7.3. Diagnostic Imaging Devices 40

7.4. Cardiovascular Devices 41

7.5. Drug Delivery Devices 42

7.6. Orthopedic Devices 43

7.7. Respiratory Care Devices 43

7.8. Ophthalmology Devices 44

7.9. Surgical Devices 44

7.10. Diabetes Care Devices 45

7.11. Dental Devices 45

7.12. Endoscopy and Laparoscopy Devices 46

7.13. Gynaecology and Urology Devices 46

7.14. Personal Care Devices 47

7.15. Neurology Devices 47

7.16. Patient Monitoring Devices 48

7.17. Patient Assistive Devices 48

7.18. Other Devices 49

CHAPTER NO. 8 : ASIA PACIFIC MEDICAL DEVICE CONTRACT MANUFACTURING MARKET – BY CLASS OF DEVICE SEGMENT ANALYSIS 50

8.1. Asia Pacific Medical Device Contract Manufacturing Market Overview, by Class of Device Segment 50

8.1.1. Asia Pacific Medical Device Contract Manufacturing Market Revenue Share, By Class of Device, 2023 & 2032 51

8.1.2. Asia Pacific Medical Device Contract Manufacturing Market Attractiveness Analysis, By Class of Device 52

8.1.3. Incremental Revenue Growth Opportunity, by Class of Device, 2024 – 2032 52

8.1.4. Asia Pacific Medical Device Contract Manufacturing Market Revenue, By Class of Device, 2018, 2023, 2027 & 2032 53

8.2. Class I Medical Device 54

8.3. Class II Medical Device 55

8.4. Class III Medical Device 56

CHAPTER NO. 9 : ASIA PACIFIC MEDICAL DEVICE CONTRACT MANUFACTURING MARKET – BY SERVICE SEGMENT ANALYSIS 57

9.1. Asia Pacific Medical Device Contract Manufacturing Market Overview, by Service Segment 57

9.1.1. Asia Pacific Medical Device Contract Manufacturing Market Revenue Share, By Service, 2023 & 2032 58

9.1.2. Asia Pacific Medical Device Contract Manufacturing Market Attractiveness Analysis, By Service 59

9.1.3. Incremental Revenue Growth Opportunity, by Service, 2024 – 2032 59

9.1.4. Asia Pacific Medical Device Contract Manufacturing Market Revenue, By Service, 2018, 2023, 2027 & 2032 60

9.2. Device Development and Manufacturing Services 61

9.3. Quality Management Services 62

9.4. Packaging and Assembly Services 63

9.5. Other Services 64

CHAPTER NO. 10 : ASIA PACIFIC MEDICAL DEVICE CONTRACT MANUFACTURING MARKET – ASIA PACIFIC 65

10.1. Asia Pacific 65

10.1.1. Key Highlights 65

10.1.2. Asia Pacific Asia Pacific Medical Device Contract Manufacturing Market Revenue, By Country, 2018 – 2023 (USD Million) 66

10.1.3. Asia Pacific Asia Pacific Medical Device Contract Manufacturing Market Revenue, By Device Type, 2018 – 2023 (USD Million) 67

10.1.4. Asia Pacific Asia Pacific Medical Device Contract Manufacturing Market Revenue, By Class of Device, 2018 – 2023 (USD Million) 69

10.1.5. Asia Pacific Asia Pacific Medical Device Contract Manufacturing Market Revenue, By Service, 2018 – 2023 (USD Million) 70

10.2. China 71

10.3. Japan 71

10.4. South Korea 71

10.5. India 71

10.6. Australia 71

10.7. Thailand 71

10.8. Indonesia 71

10.9. Vietnam 71

10.10. Malaysia 71

10.11. Philippines 71

10.12. Taiwan 71

10.13. Rest of Asia Pacific 71

CHAPTER NO. 11 : COMPANY PROFILES 72

11.1. Nipro Corporation 72

11.1.1. Company Overview 72

11.1.2. Product Portfolio 72

11.1.3. Swot Analysis 72

11.1.4. Business Strategy 73

11.1.5. Financial Overview 73

11.2. Shimadzu Corporation (Japan) 74

11.3. Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China) 74

11.4. Olympus Corporation (Japan) 74

11.5. Terumo Corporation (Japan) 74

11.6. NIHON KOHDEN CORPORATION (Japan) 74

11.7. Lepu Medical Technology (China) 74

11.8. Medtronic (Ireland) 74

11.9. Stryker (U.S.) 74

11.10. Johnson & Johnson Services, Inc. 74

CHAPTER NO. 12 : RESEARCH METHODOLOGY 75

12.1. Research Methodology 75

12.2. Phase I – Secondary Research 76

12.3. Phase II – Data Modeling 76

Company Share Analysis Model 77

Revenue Based Modeling 77

12.4. Phase III – Primary Research 78

12.5. Research Limitations 79

Assumptions 79

List of Figures

FIG NO. 1. Asia Pacific Medical Device Contract Manufacturing Market Revenue, 2018 – 2032 (USD Million) 23

FIG NO. 2. Porter’s Five Forces Analysis for Asia Pacific Medical Device Contract Manufacturing Market 30

FIG NO. 3. Company Share Analysis, 2023 31

FIG NO. 4. Company Share Analysis, 2023 32

FIG NO. 5. Company Share Analysis, 2023 32

FIG NO. 6. Company Share Analysis, 2023 33

FIG NO. 7. Asia Pacific Medical Device Contract Manufacturing Market – Company Revenue Market Share, 2023 34

FIG NO. 8. Asia Pacific Medical Device Contract Manufacturing Market Revenue Share, By Device Type, 2023 & 2032 40

FIG NO. 9. Market Attractiveness Analysis, By Device Type 41

FIG NO. 10. Incremental Revenue Growth Opportunity by Device Type, 2024 – 2032 41

FIG NO. 11. Asia Pacific Medical Device Contract Manufacturing Market Revenue, By Device Type, 2018, 2023, 2027 & 2032 42

FIG NO. 12. Asia Pacific Medical Device Contract Manufacturing Market for IVD Devices, Revenue (USD Million) 2018 – 2032 43

FIG NO. 13. Asia Pacific Medical Device Contract Manufacturing Market for Diagnostic Imaging Devices, Revenue (USD Million) 2018 – 2032 44

FIG NO. 14. Asia Pacific Medical Device Contract Manufacturing Market for Cardiovascular Devices, Revenue (USD Million) 2018 – 2032 45

FIG NO. 15. Asia Pacific Medical Device Contract Manufacturing Market for Drug Delivery Devices, Revenue (USD Million) 2018 – 2032 46

FIG NO. 16. Asia Pacific Medical Device Contract Manufacturing Market for Orthopedic Devices, Revenue (USD Million) 2018 – 2032 47

FIG NO. 17. Asia Pacific Medical Device Contract Manufacturing Market for Respiratory Care Devices, Revenue (USD Million) 2018 – 2032 47

FIG NO. 18. Asia Pacific Medical Device Contract Manufacturing Market for Ophthalmology Devices, Revenue (USD Million) 2018 – 2032 48

FIG NO. 19. Asia Pacific Medical Device Contract Manufacturing Market for Surgical Devices, Revenue (USD Million) 2018 – 2032 48

FIG NO. 20. Asia Pacific Medical Device Contract Manufacturing Market for Diabetes Care Devices, Revenue (USD Million) 2018 – 2032 49

FIG NO. 21. Asia Pacific Medical Device Contract Manufacturing Market for Dental Devices, Revenue (USD Million) 2018 – 2032 49

FIG NO. 22. Asia Pacific Medical Device Contract Manufacturing Market for Endoscopy and Laparoscopy Devices, Revenue (USD Million) 2018 – 2032 50

FIG NO. 23. Asia Pacific Medical Device Contract Manufacturing Market for Gynecology and Urology Devices, Revenue (USD Million) 2018 – 2032 50

FIG NO. 24. Asia Pacific Medical Device Contract Manufacturing Market for Personal Care Devices, Revenue (USD Million) 2018 – 2032 51

FIG NO. 25. Asia Pacific Medical Device Contract Manufacturing Market for Neurology Devices, Revenue (USD Million) 2018 – 2032 51

FIG NO. 26. Asia Pacific Medical Device Contract Manufacturing Market for Patient Monitoring Devices, Revenue (USD Million) 2018 – 2032 52

FIG NO. 27. Asia Pacific Medical Device Contract Manufacturing Market for Patient Assistive Devices, Revenue (USD Million) 2018 – 2032 52

FIG NO. 28. Asia Pacific Medical Device Contract Manufacturing Market for Other Devices, Revenue (USD Million) 2018 – 2032 53

FIG NO. 29. Asia Pacific Medical Device Contract Manufacturing Market Revenue Share, By Class of Device, 2023 & 2032 55

FIG NO. 30. Market Attractiveness Analysis, By Class of Device 56

FIG NO. 31. Incremental Revenue Growth Opportunity by Class of Device, 2024 – 2032 56

FIG NO. 32. Asia Pacific Medical Device Contract Manufacturing Market Revenue, By Class of Device, 2018, 2023, 2027 & 2032 57

FIG NO. 33. Asia Pacific Medical Device Contract Manufacturing Market for Class I Medical Device, Revenue (USD Million) 2018 – 2032 58

FIG NO. 34. Asia Pacific Medical Device Contract Manufacturing Market for Class II Medical Device, Revenue (USD Million) 2018 – 2032 59

FIG NO. 35. Asia Pacific Medical Device Contract Manufacturing Market for Class III Medical Device, Revenue (USD Million) 2018 – 2032 60

FIG NO. 36. Asia Pacific Medical Device Contract Manufacturing Market Revenue Share, By Service, 2023 & 2032 62

FIG NO. 37. Market Attractiveness Analysis, By Service 63

FIG NO. 38. Incremental Revenue Growth Opportunity by Service, 2024 – 2032 63

FIG NO. 39. Asia Pacific Medical Device Contract Manufacturing Market Revenue, By Service, 2018, 2023, 2027 & 2032 64

FIG NO. 40. Asia Pacific Medical Device Contract Manufacturing Market for Device Development and Manufacturing Services, Revenue (USD Million) 2018 – 2032 65

FIG NO. 41. Asia Pacific Medical Device Contract Manufacturing Market for Quality Management Services, Revenue (USD Million) 2018 – 2032 66

FIG NO. 42. Asia Pacific Medical Device Contract Manufacturing Market for Packaging and Assembly Services, Revenue (USD Million) 2018 – 2032 67

FIG NO. 43. Asia Pacific Medical Device Contract Manufacturing Market for Other Services, Revenue (USD Million) 2018 – 2032 68

FIG NO. 44. Asia Pacific Asia Pacific Medical Device Contract Manufacturing Market Revenue, 2018 – 2032 (USD Million) 69

FIG NO. 45. Research Methodology – Detailed View 79

FIG NO. 46. Research Methodology 80

 

List of Tables

TABLE NO. 1. : Asia Pacific Medical Device Contract Manufacturing Market: Snapshot 21

TABLE NO. 2. : Drivers for the Asia Pacific Medical Device Contract Manufacturing Market: Impact Analysis 26

TABLE NO. 3. : Restraints for the Asia Pacific Medical Device Contract Manufacturing Market: Impact Analysis 28

TABLE NO. 4. : Asia Pacific Asia Pacific Medical Device Contract Manufacturing Market Revenue, By Country, 2018 – 2023 (USD Million) 70

TABLE NO. 5. : Asia Pacific Asia Pacific Medical Device Contract Manufacturing Market Revenue, By Country, 2024 – 2032 (USD Million) 70

TABLE NO. 6. : Asia Pacific Asia Pacific Medical Device Contract Manufacturing Market Revenue, By Device Type, 2018 – 2023 (USD Million) 71

TABLE NO. 7. : Asia Pacific Asia Pacific Medical Device Contract Manufacturing Market Revenue, By Device Type, 2024 – 2032 (USD Million) 72

TABLE NO. 8. : Asia Pacific Asia Pacific Medical Device Contract Manufacturing Market Revenue, By Class of Device, 2018 – 2023 (USD Million) 73

TABLE NO. 9. : Asia Pacific Asia Pacific Medical Device Contract Manufacturing Market Revenue, By Class of Device, 2024 – 2032 (USD Million) 73

TABLE NO. 10. : Asia Pacific Asia Pacific Medical Device Contract Manufacturing Market Revenue, By Service, 2018 – 2023 (USD Million) 74

TABLE NO. 11. : Asia Pacific Asia Pacific Medical Device Contract Manufacturing Market Revenue, By Service, 2024 – 2032 (USD Million) 74

Frequently Asked Questions:

What is the projected market size of the Asia Pacific Medical Device Contract Manufacturing Market by 2032?

The market is expected to grow from USD 30,892.14 million in 2023 to an estimated USD 62,270.05 million by 2032, with a CAGR of 8.10% from 2024 to 2032.

What are the primary drivers of market growth in the Asia Pacific Medical Device Contract Manufacturing Market?

Key drivers include cost efficiency from outsourcing, technological advancements, increased regulatory scrutiny, and growing demand for advanced medical devices due to an aging population and rising prevalence of chronic diseases.

Which countries are major contributors to the growth of the Asia Pacific Medical Device Contract Manufacturing Market?

China and India are major contributors, supported by their large populations and expanding healthcare sectors. Japan and South Korea also play crucial roles due to their advanced technology and innovation in medical devices.

What technological trends are influencing the Asia Pacific Medical Device Contract Manufacturing Market?

Trends include the integration of advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI), and additive manufacturing (3D printing), which enhance device functionality and production efficiency.

Who are some of the key players in the Asia Pacific Medical Device Contract Manufacturing Market?

Prominent companies include Shimadzu Corporation, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Olympus Corporation, Terumo Corporation, and NIHON KOHDEN CORPORATION, among others. These companies leverage technological expertise and strategic partnerships to maintain a competitive edge.

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