Global Medical Device Outsourcing Market Size study, by Product (Raw Materials, Electronics, Finished Goods), by Device Type (Class I, Class II, Class III Devices), by Service (Prototype Development, Finished Device Manufacturing, Assembly and Packaging,

Global Medical Device Outsourcing Market Size study, by Product (Raw Materials, Electronics, Finished Goods), by Device Type (Class I, Class II, Class III Devices), by Service (Prototype Development, Finished Device Manufacturing, Assembly and Packaging, Testing and Regulatory Support Services), by Application (Orthopaedics and Spine, Cardiovascular, Radiology, General Medical Devices, Others) and Regional Forecasts 2022-2028

Global Medical Device Outsourcing Market is valued at approximately USD 107.92 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 12.1 % over the forecast period 2022-2028. Medical device outsourcing refers to a process in which a manufacturer creates medical devices or components of medical devices that are then Marketed by another company. To assure compliance and supply high-quality components alongside safe and effective completed medical devices, medical device makers are outsourcing quality management services to medical device consulting organizations. Changing regulatory guidelines, increase in demand for advanced products, increasing price competition and the need to cut costs, adoption of the International Standards by the contract manufacturers and key players adopting strategy of Acquisitions has driven the adoption of Medical Device Outsourcing Market across the projected period. For Instance: A Life science Company Labcorp (previously known as Covance), bought Toxikon Inc., a clinical research organization, in December 2021 to extend its testing services for medical devices, pharmaceuticals, and other industries. Also, rising difficulty with respect to product design and engineering and increased medical device manufacturing offshoring to emerging economies is most likely to boost the overall growth of the Medical Device Outsourcing Market. However, compliance issues while outsourcing and other regulatory and legal compliances can obstruct the Market's expansion over the projection period of 2022-2028.
The key regions considered for the Global Medical Device Outsourcing Market study include Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading region across the world. Presence of key players and competitive pricing is driving the Market growth in Asia Pacific. North America is also anticipated to exhibit the highest growth rate over the forecast period 2022-2028. The Market is expected to grow during the projected period due to the establishment of advanced manufacturing hubs for medical devices.

Major Market players included in this report are:

Cardinal Health Inc.
Flex Ltd.
Heraeus Holding GmbH
Integer Holdings Corporation
Nortech Systems Incorporated
Onex Corporation
Plexus Corp.
Sanmina Corporation
TE Connectivity Ltd.
West Pharmaceutical Services Ltd.

The objective of the study is to define Market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the Market. Additionally, the report shall also incorporate available opportunities in micro Markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the Market are explained below:

By Product:

Raw Materials
Electronics
Finished Goods

By Device Type:
Class I Devices
Class II Devices
Class III Devices

By Service:
Prototype Development
Finished Device Manufacturing
Assembly and Packaging
Testing and Regulatory Support Services

By Application:

Orthopaedics and Spine
Cardiovascular
Radiology
General Medical Devices
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Medical Device Outsourcing Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Companies Mentioned

Cardinal Health Inc.
Flex Ltd.
Heraeus Holding GmbH
Integer Holdings Corporation
Nortech Systems Incorporated
Onex Corporation
Plexus Corp.
Sanmina Corporation
TE Connectivity Ltd.
West Pharmaceutical Services Ltd

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