The global medical device outsourcing market is expected to reach USD
88.2 billion by 2025, according to a new report by Grand View Research, Inc.
Rising price competition and rising need for reduction of production cost are
the most impact rendering driver of the medical device outsourcing market.
Sharp cutbacks in the public spending in major EU regions and the U.S., is
the major issue currently faced by medical devices manufacturers. Increasing
profitability pressure and growing competition coupled with high degree of
industry maturity is expected to impact growth.
The medical device outsourcing market is dynamic and highly competitive.
Over the next seven years, the industry is expected to witness significant
growth owing to steep decline in duration for product commercialization by
companies in order to gain the advantage of being the first mover.
Product design and development services are anticipated to be one of the
highly availed services by device manufacturers over the forecast period. By
opting for this service, manufacturers are expected to benefit in speeding up
the time to market and faster return on investment, thereby supporting growth
for this segment.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/medical-device-outsourcing-market
Further key findings from the study suggest:
- In the services segment, contract manufacturing is anticipated to be the fastest growing and contributes over 19.0% of the revenue share by 2025 owing to complete assistance and assurance to the medical device manufacturers.
- Class II medical devices are expected to grow at the fastest rate and hold the largest share of the medical devices outsourcing market by 2025.
- In the therapeutic segment, cardiology, IVD, and drug delivery are the top performing segments. Rising incidences of cardiac failures, infectious diseases and high research activity in the field of drug delivery are certain vital impact rendering factors.
- Regionally, Asia Pacific is predicted to contribute higher revenue share over the forecast period. Improving healthcare infrastructure, rising disposable income, and growing incidence of conditions such as diabetes within the region are expected to support growth.
- Medical device outsourcing market players include; Daiichi Jitsugyo Co. Ltd., Mitutoyo Corp., Hamilton Company, Cirtec Medical Systems LLC, Kinetic Climax Inc., Creganna Tactx Medical Inc. and Omnica Corp. among others.
- In January 2014, Creganna acquired Tactx Medical Inc. in order to expand their business of providing technologies and services for minimally invasive delivery and access devices
Read our blog on medical device outsourcing market: http://www.grandviewresearch.com/blog/medical-device-outsourcing-market-size-share
Grand View Research has segmented the global medical device outsourcing market on the basis of application, service, therapeutics, and region:
Medical Device Outsourcing Application Outlook (Revenue, USD Million, 2014 - 2025)
·
Class I
·
Class II
·
Class III
Medical Device Outsourcing Service Outlook (Revenue, USD Million,
2014 - 2025)
·
Regulatory Consulting Services
o
Clinical trial applications and product
registrations
o
Regulatory writing and publishing
o
Legal representation
o
Other
·
Product Design and Development Services
o
Designing & engineering
o
Machining
o
Molding
o
Packaging
·
Product Testing Services
·
Product Implementation Services
·
Product Upgrade Services
·
Product Maintenance Services
·
Contract Manufacturing Services
o
Accessories manufacturing
o
Assembly manufacturing
o
Component manufacturing
o
Device manufacturing
Medical Device Outsourcing Therapeutics Outlook (Revenue, USD
Million, 2014 - 2025)
·
Cardiology
·
Diagnostic Imaging
·
Orthopedic
·
IVD
·
Ophthalmic
·
General and plastic surgery
·
Drug delivery
·
Dental
·
Endoscopy
·
Diabetes care
·
Other
Medical Device Outsourcing Regional Outlook (Revenue, USD Million,
2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
France
o
Germany
·
Asia Pacific
o
Japan
o
China
o
India
·
Latin America
o
Brazil
o
Mexico
·
Middle East and Africa (MEA)
o
South Africa
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
For More Information Visit - http://www.grandviewresearch.com/
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