Medical Devices Outsourcing Market, by Product (Finished Goods, Electronics, and Raw Material), by Device Type (Class I Devices, Class II Devices, and Class III Devices), by Application (Orthopedics and Spine, Cardiovascular, Radiology, General Medical D

Medical Devices Outsourcing Market, by Product (Finished Goods, Electronics, and Raw Material), by Device Type (Class I Devices, Class II Devices, and Class III Devices), by Application (Orthopedics and Spine, Cardiovascular, Radiology, General Medical Devices, and Others), by Services (Prototype Development, Finished Device Manufacturing, Assembly & Packaging, and Testing & Regulatory Support Services), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Medical device outsourcing is contracting with the third party for the product designing, manufacturing, packaging, validation, and prototyping of medical devices. Medical device outsourcing helps both manufacturer and the supply chain. It permits the original equipment manufacturers to focus on their primary operations, such as marketing and product innovation. It also helps in reducing the overall cost and time to enter the market. Companies can save up 10-15% on production by outsourcing their products. Overall medical device outsourcing provides benefits such as early product launch into the market, reduced manufacturing time, and quality check approvals to match regulatory criteria.
Global medical devices outsourcing market is propelled by the increasing needs for quality healthcare services. Medical device manufacturers are majorly dependent on innovation as the product life cycles are short and increasing buyer awareness levels has forced manufacturers to adhere to business strategies involving persistent R&D investments and innovative product launch. Medical device Original Equipment Manufacturers (OEMs), adhering to outsourcing services as a cost effective curbing tool. Moreover, medical outsourcing services have benefited the OEMs by reducing cost and time as the medical device market has gained high competitiveness in the previous couple of years.
The rising geriatric population and their susceptibility to diseases is the vital factor that is propelling the market growth. For instance, according to the U.S census Bureau, there were more than 54 million citizens 65 years and older.

Market Dynamics

The rising research and development activities for the development of novel technologies, and increasing adoption of inorganic growth strategies such as mergers, acquisitions, partnerships, and collaborations by key players operating in the market are the major factors that are expected to drive growth of the global medical device outsourcing market over the forecast period.
For instance, according to National Center for Biotechnology Information (NCBI), article published in April 2018, over one million cardiac pacemakers are published every year globally. Out of which 200,000 are implanted in the U.S alone.

Key features of the study:

This report provides in-depth analysis of the global medical devices outsourcing market, and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2022-2028), considering 2021 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global medical devices outsourcing market based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
Key companies covered as a part of this study include SGS SA, Intertek Group PLC, Wuxi Apptec, TüvSüd AG, Toxikon, INC., American Preclinical Services, Eurofins Scientific, Sterigenics International LLC, Pace Analytical Services LLC., Charles River Laboratories International, Inc., North American Science Associates, Inc., IQVIA, Accellent Inc., Celestica Inc., Benchmark Electronic Inc., Cadence Inc., Providien LLC, Thermo Fischer Scientific Inc., and West Pharmaceuticals Services Inc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global medical devices outsourcing market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global medical devices outsourcing market

Detailed Segmentation:

Global Medical Devices Outsourcing Market, By Product:
Finished Goods
Electronics
Raw Material
Global Medical Devices Outsourcing Market, By Device Type:
Class I Devices
Class II Devices
Class III Devices
Global Medical Devices Outsourcing Market, By Application:
Orthopedics and Spine
Cardiovascular
Radiology
General Medical Devices
Others
Global Medical Devices Outsourcing Market, By Services:
Prototype Development
Finished Device Manufacturing
Assembly & Packaging
Testing & Regulatory Support Services
Global Medical Devices Outsourcing Market, By Region:
North America
By Product
Finished Goods
Electronics
Raw Material
By Device Type
Class I Devices
Class II Devices
Class III Devices
By Application
Orthopedics and Spine
Cardiovascular
Radiology
General Medical Devices
Others
By Services
Prototype Development
Finished Device Manufacturing
Assembly & Packaging
Testing & Regulatory Support Services
By Country
U.S.
Canada
Latin America
By Product
Finished Goods
Electronics
Raw Material
By Device Type
Class I Devices
Class II Devices
Class III Devices
By Application
Orthopedics and Spine
Cardiovascular
Radiology
General Medical Devices
Others
By Services
Prototype Development
Finished Device Manufacturing
Assembly & Packaging
Testing & Regulatory Support Services
By Country
Brazil
Mexico
Argentina
Rest of Latin America
Europe
By Product
Finished Goods
Electronics
Raw Material
By Device Type
Class I Devices
Class II Devices
Class III Devices
By Application
Orthopedics and Spine
Cardiovascular
Radiology
General Medical Devices
Others
By Services
Prototype Development
Finished Device Manufacturing
Assembly & Packaging
Testing & Regulatory Support Services
By Country
Germany
U.K.
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
By Product
Finished Goods
Electronics
Raw Material
By Device Type
Class I Devices
Class II Devices
Class III Devices
By Application
Orthopedics and Spine
Cardiovascular
Radiology
General Medical Devices
Others
By Services
Prototype Development
Finished Device Manufacturing
Assembly & Packaging
Testing & Regulatory Support Services
By Country
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
By Product
Finished Goods
Electronics
Raw Material
By Device Type
Class I Devices
Class II Devices
Class III Devices
By Application
Orthopedics and Spine
Cardiovascular
Radiology
General Medical Devices
Others
By Services
Prototype Development
Finished Device Manufacturing
Assembly & Packaging
Testing & Regulatory Support Services
By Country
GCC
Israel
Rest of Middle East
Africa
By Product
Finished Goods
Electronics
Raw Material
By Device Type
Class I Devices
Class II Devices
Class III Devices
By Application
Orthopedics and Spine
Cardiovascular
Radiology
General Medical Devices
Others
By Services
Prototype Development
Finished Device Manufacturing
Assembly & Packaging
Testing & Regulatory Support Services
By Country/Region
South Africa
Central Africa
North Africa

Company Profiles
SGS SA *
Company Overview
Material Portfolio
Financial Performance
Key Highlights
Market Strategies
Intertek Group PLC
Wuxi Apptec
TüvSüd AG
Toxikon, INC
American Preclinical Services
Eurofins Scientific
Sterigenics International LLC
Pace Analytical Services LLC
Charles River Laboratories International, Inc.
North American Science Associates, Inc.
IQVIA
Accellent Inc.
Celestica Inc.
Benchmark Electronic Inc.
Cadence Inc.
Providien LLC
Thermo Fischer Scientific Inc.
West Pharmaceuticals Services Inc.
“*” marked represents similar segmentation in other categories in the respective section.