Medical Device Contract Manufacturing Market to Grow with a CAGR of 11.06% through 2030
Surge in research and development activities is expected to drive the Global
Medical Device Contract Manufacturing Market growth in the forecast period, 2026-2030.
According to TechSci Research report, “Medical
Device Contract Manufacturing Market - Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2030F”, the Global
Medical Device Contract Manufacturing Market stood at USD 84.58 billion in 2024 and is anticipated to grow with a CAGR of 11.06% in the forecast period through 2030.
Initiatives taken by government based on medical device contract manufacturing has
led to favorable market conditions for the Global Medical Device Contract
Manufacturing Market. Several factors contribute to the growth of various medical
device contract manufacturing products. In the United States, the Food and Drug Administration
(FDA) has been actively supporting medical device innovators, recognizing the
importance of advancing healthcare through cutting-edge technologies. The FDA
not only provides guidance on regulatory requirements but also encourages the
use of novel technologies and fosters collaboration among stakeholders to drive
innovation forward.
In addition to the FDA's efforts, BARDA (Biomedical
Advanced Research and Development Authority) plays a crucial role in supporting
the expansion of domestic manufacturing capacity for ancillary supplies. This
investment ensures that the United States is equipped with the necessary
infrastructure to meet the growing demand for medical devices and related
supplies.
Meanwhile, the Indian government has taken significant
steps to boost the medical device industry through the launch of the Production
Linked Incentive Scheme for Medical Devices Manufacturing. This scheme aims to
provide financial incentives to manufacturers based on their incremental sales,
encouraging them to invest in research, development, and production
capabilities. Moreover, it promotes the establishment of medical device parks
in the country, creating an ecosystem conducive to innovation and growth.
Furthermore, the 'Make in India' initiative presents
an exciting opportunity for U.S. medical device companies to leverage India's
robust manufacturing capabilities. By tapping into India's skilled workforce
and cost-effective production facilities, U.S. companies can enhance their
competitiveness while contributing to India's economic development.
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Global Medical Device Contract Manufacturing Market is segmented into device type, class of devices, services, regional distribution, and company
Based on Class of Device, The class II segment is projected to experience rapid growth during the forecast period. Class II medical devices encompass a wide range of products that are more complex than Class I devices but less risky than Class III devices. They include devices such as infusion pumps, surgical drapes, blood pressure monitors, and diagnostic ultrasound products. The broad reach of Class II devices across various medical fields contributes significantly to their dominance in the contract manufacturing market. The demand for Class II devices is increasing due to the rising prevalence of chronic diseases and the growing need for advanced diagnostic and therapeutic devices. With the advancements in medical technology, Class II devices are becoming more sophisticated and offer enhanced features to improve patient care. For example, advanced infusion pumps now come with programmable settings to deliver precise medication dosages, while diagnostic ultrasound products have higher image resolution for improved diagnostic accuracy. In addition, the ongoing COVID-19 pandemic has also boosted the demand for certain Class II devices such as ventilators and personal protective equipment. The need for ventilators has surged to support patients with respiratory issues, while personal protective equipment like masks and gloves have become essential for healthcare professionals to ensure their safety and prevent the spread of the virus.
Based on Region, Asia Pacific segment is expected to
grow during the forecast period. The Asia-Pacific region boasts a substantial and
expanding talent pool of highly skilled workers in the medical device industry.
From experienced engineers and technicians to a diverse range of professionals,
this workforce possesses the expertise and knowledge required to manufacture
intricate and cutting-edge medical devices. With their collective capabilities
and dedication, they contribute significantly to the advancement and innovation
in this critical sector.
Major companies operating in Global Medical Device
Contract Manufacturing Market are:
- Flex, Ltd.
- Integer Holdings Corporation
- Jabil Inc.
- Synecco Ltd.
- Invetech Pty Ltd.
- Gerresheimer AG
- Sanmina Corporation
- Nipro Corporation
- Celestica Industrial LP.
- Plexus Corp.
- Benchmark Electronic Inc.
- TE Connectivity Ltd.
- Nortech Systems Inc.
- Eurofins Scientific
- Kimbal Electronics Group, Inc.
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“Growing application of medical device contract manufacturing
in various end user industries are key drivers of the medical device contract manufacturing
market. Growth in competitive landscape and presence of well-established companies
in the market who are dedicated to enhance their productivity of medical device
contract manufacturing with every passing year are anticipated to register an
impressive grow to Global Medical Device Contract Manufacturing Market in the
forecast period.,” said Mr. Karan Chechi, Research Director of TechSci Research,
a research-based management consulting firm.
“Medical Device Contract Manufacturing Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Device Type (IVD Devices, Diagnostic Imaging Devices, Cardiovascular Devices, Orthopedic Devices, Surgical Devices, Dental Devices, Diabetes Care Devices, Drug Delivery Devices, Ophthalmology Devices, Ophthalmology Devices, Endoscopy and Laparoscopy Devices, Respiratory Care Devices, Neurology Devices, Patient Monitoring Devices, Patient Assistive and Monitoring Devices, 0thers), By Class of Devices (Class II, Class I, Class III), By Services (Device Development & Services, Packaging and Assembly Devices, Quality Management Services), By Region and Competition, 2020-2030F”, has evaluated
the future growth potential of Global Medical Device Contract Manufacturing
Market and provides statistics & information on market size, structure, and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Medical Device
Contract Manufacturing Market.
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