Medical Device Outsourcing Market To Reach $88.2 Billion By 2025: Grand View Research, Inc
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.
Browse full research report on Medical Device Outsourcing
Market: 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
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
- Clinical
trial applications and product registrations
- Regulatory
writing and publishing
- Legal
representation
- Other
- Product
Design and Development Services
- Designing
& engineering
- Machining
- Molding
- Packaging
- Product
Testing Services
- Product
Implementation Services
- Product
Upgrade Services
- Product
Maintenance Services
- Contract
Manufacturing Services
- Accessories
manufacturing
- Assembly
manufacturing
- Component
manufacturing
- 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
- U.S.
- Canada
- Europe
- France
- Germany
- Asia
Pacific
- Japan
- China
- India
- Latin
America
- Brazil
- Mexico
- Middle
East and Africa (MEA)
- South
Africa
Grand View Research has segmented the osteoporosis drugs
market on the basis of product and region:
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, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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