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Medical Devices Outsourcing Market By Services Type (Quality Assurance, Regulatory Affairs Services, Product Design And Development, Product Testing And Sterilization, Product Upgrade Services, Product Maintenance Services, Contract Manufacturing), By Application (Cardiology, Diagnostic Imaging, Orthopedic, Diagnostic Testing Systems, Ophthalmic, Drug Delivery, General & Plastic Surgery, Dental, Endoscopy, Diabetes Care) - Growth, Future Prospects, And Competitive Landscape, 2018 - 2026

Industry Outlook

The global medical devices outsourcing market was valued at US$ 39.20 Bn in 2017 and expected to grow at compound annual growth rate (CAGR) of 10.6% during the forecast period from 2018 to 2026. Outsourcing of medical devices manufacturing has become a pervasive aspect of medical device industry with every company are choosing outsourcing over in-house manufacturing. This has led the companies to focus on their core competencies and new product development. The trend of outsourcing medical devices R&D is also increasing. Outsourcing has become the favorite option for the companies as it reduces costs, accelerate market entry of products and curtails business risks. The cost reduction is a result of enhanced organization effectiveness, greater access to advanced technology and shorter product development cycle. Moreover, regulatory compliance outsourcing is rapidly gaining momentum due to constant partnerships and collaborations between medical devices manufacturers and regulatory compliance outsourcing services providers. This helps the manufacturing companies for swift approval and launch of products in the market with reduced cost. The contract manufacturers in North America, Europe and Japan work in compliance with the international standards for quality management system. However, the service providers in Asia Pacific are rapidly improving the quality standards to match the international standards.

Market Synopsis

Medical Devices Outsourcing Market

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"Contract Manufacturing Segment Accounted for the Largest Share by Service Type"  

The medical devices outsourcing market is segmented in to quality assurance, regulatory affairs, product design and development, product testing and sterilization, product upgrade services, product maintenance and contract manufacturing. In 2017, contract manufacturing held the largest share in the global medical devices outsourcing market and projected to be the dominant marker during the forecast period. High demand for outsourcing manufacturing process to curb OEM production cost and focus on core competencies is the major driver for the market. 

Medical Devices Outsourcing Market

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Historical & Forecast Period

This research report presents the analysis of each segment from 2016 to 2026 considering 2017 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segments calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

Medical devices outsourcing market report furnishes quantitative analysis along with its latest market trends. The market is segmented based on services type, applications and geography.

ATTRIBUTE DETAILS
Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Billion
Segmentation

 By Services (2016–2026; US$ Bn)
 • Quality Assurance
 • Regulatory Affairs Services
 • Product Design And Development
 • Product Testing And Sterilization
 • Product Upgrade Services
 • Product Maintenance Services
 • Contract Manufacturing

 By Application (2016–2026; US$ Bn)
 • Cardiology
 • Diagnostic Imaging
 • Orthopedic
 • Diagnostic Testing Systems
 • Ophthalmic
 • Drug Delivery
 • General & Plastic Surgery
 • Dental
 • Endoscopy
 • Diabetes Care

 Geography Segment (2016–2026; US$ Bn)
 • North America (U.S., Canada)
 • Europe (U.K., Germany, Rest of Europe)
 • Asia Pacific (China, Japan, Rest of APAC0
 • Latin America (Brazil, Mexico, Rest of Latin America)
 • Middle East and Africa (GCC, Rest of Middle East and Africa)

The medical devices outsourcing market is studied to understand the current and future trends and dynamics. The study scope includes market size and forecast for all considered segments studied in the report for the period from 2016 to 2026, along with compound annual growth rate (CAGR) for forecast period from 2018 to 2026, 2017 being the considered as the base year. The key players currently engaged in medical devices outsourcing market include Covance, Inc., Pharmaceutical Product Development, LLC. (PPD), Charles River Laboratories International, Inc., Laboratory Corporation of America, ICON plc., inVentiv Health, Parexel International, Eurofins Scientific, Toxikon, Inc. and Pace Analytical Services, LLC.


Medical Devices Outsourcing Market

Key questions answered in this report

  • How the global medical devices outsourcing market will perform during the forecast period from 2018 to 2026?
  • What are the latest trends in the medical devices outsourcing market and valuable opportunities for key players?
  • Who are the leading players in the global medical devices outsourcing market?
  • Which is the leading and fastest region in the global medical devices outsourcing market?
  • What are drivers and restrains governing the global medical devices outsourcing market?
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Budget Buying
Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
Trusted By
Godaddy
Published Date:  Apr 2019
Category:  Medical Devices
Report ID:   59656
Report Format:   PDF
Pages:   120
Rating:    4.2 (58)
Delivery Time: 24 Hours to 48 Hours   
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