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Medical Device Outsourcing - Global Strategic Business Report

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    Report

  • 366 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 1946792

Global Medical Device Outsourcing Market to Reach $212.1 Billion by 2030

The global market for Medical Device Outsourcing estimated at US$105.2 Billion in the year 2022, is projected to reach a revised size of US$212.1 Billion by 2030, growing at a CAGR of 9.2% over the analysis period 2022-2030. Contract Manufacturing, one of the segments analyzed in the report, is projected to record 9.9% CAGR and reach US$109.9 Billion by the end of the analysis period. Growth in the Quality Assurance segment is estimated at 10.7% CAGR for the next 8-year period.

The U.S. Market is Estimated at $46.4 Billion, While China is Forecast to Grow at 10.4% CAGR

The Medical Device Outsourcing market in the U.S. is estimated at US$46.4 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$24 Billion by the year 2030 trailing a CAGR of 10.4% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.4% and 8.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8.9% CAGR.

Select Competitors (Total 74 Featured)

  • B. Braun Melsungen AG
  • Cardinal Health, Inc.
  • HCL Technologies Ltd.
  • Charles River Laboratories International, Inc.
  • Heraeus Holding GmbH
  • Eurofins Scientific SE
  • Benchmark Electronics, Inc.
  • Celestica, Inc.
  • Clinipace Inc.
  • Conductive Technologies, Inc.
  • Dravon Medical, Inc.
  • Cadence, Inc.
  • Freyr, Inc.
  • Global Life Sciences Solutions USA LLC (Cytiva)
  • ICON plc

Economic Outlook

The global economic outlook is improving, and growth recovery, albeit on the lower side, is expected for this year and the next. The United States although witnessing slowing GDP growth in response to tight monetary and financial conditions, has nevertheless overcome the recession threat. Easing of headline inflation in Euro area is helping boost real incomes and is contributing to pick-up in economic activity. China is expected to see strong increases in GDP in the coming year as the pandemic threat recedes and the government sheds its zero-COVID policy. With optimistic GDP projections, India remains on-course to emerge into a US trillion economy by 2030, surpassing Japan and Germany.

The upturn, however, remains fragile and a number of interlocking challenges continue to run in parallel, such as continued uncertainty around the war in Ukraine; slower than expected decline in global headline inflation; continuation of food and fuel inflation as a persistent economic problem for most developing countries; and still high retail inflation and its impact on consumer confidence and spending. Countries and their governments are showing signs of weathering these challenges, which helps lift market sentiments. As governments continue to combat inflation to get it down to more economically conformable levels by raising interest rates, new job creation will slowdown and impact economic activity. Stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Although corporate investments can likely be held back by inflation worries and weaker demand, rise of new technologies will reverse partially this prevailing investment sentiment. Rise of generative AI; applied AI; industrializing machine learning; next-generation software development; Web3; cloud and edge computing; quantum technologies; electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape. The technologies hold the potential to drive sizeable incremental growth and value to global GDP in the coming years. The short-term is expected to be a mixed bag of challenges and opportunities for both consumers and investors alike. There is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New?

  • Special discussions on the global economic climate and market sentiment
  • Coverage on global competitiveness and key competitor percentage market shares
  • Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and trademarked research platform
  • Complimentary updates for one year
  • Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Frequently Asked Questions about the Medical Device Outsourcing Market

What is the estimated value of the Medical Device Outsourcing Market?

The Medical Device Outsourcing Market was estimated to be valued at $105.2 Billion in 2022.

What is the growth rate of the Medical Device Outsourcing Market?

The growth rate of the Medical Device Outsourcing Market is 9.2%, with an estimated value of $212.1 Billion by 2030.

What is the forecasted size of the Medical Device Outsourcing Market?

The Medical Device Outsourcing Market is estimated to be worth $212.1 Billion by 2030.

Who are the key companies in the Medical Device Outsourcing Market?

Key companies in the Medical Device Outsourcing Market include B. Braun Melsungen AG, Cardinal Health, Inc., HCL Technologies Ltd., Charles River Laboratories International, Inc., Heraeus Holding GmbH, Eurofins Scientific SE, Benchmark Electronics, Inc., Celestica, Inc., Clinipace Inc. and Conductive Technologies, Inc..

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Global Surgery Cancellation Rate (%) Feb to May 2020
  • Exposure of Leading Medical Device Companies to COVID-19 Pandemic
  • Providers of Critical Medical Supplies Gain Traction
  • Medical Device Outsourcing - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Medical Device Outsourcing: An Introduction
  • Quality Remains Guiding Factor
  • Medical Device Outsourcing Services
  • Classification of Medical Devices
  • Medical Device Outsourcing Market by Device Category: 2020E
  • Market Outlook
  • Asia-Pacific Emerges as a Preferred Outsourcing Destination
  • Class II Devices: Important Device Category
  • Improving Healthcare Expenditure to Bode Well for Market Growth
  • World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023
  • Per Capita Healthcare Spending (in US$) in Select Countries (2019)
  • Competitive Landscape
  • Market Share of Major Players in the Global Medical Contract Manufacturing Market for Finished Goods: 2020E
  • Market Share of Leading Players in the Global Medical Contract Manufacturing Market for Electronics Manufacturing Services (EMS): 2020
  • Consolidation Continues to Mark the Industry
  • World Brands
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Focus on Core Competencies: A Major Objective of Contract Manufacturing
  • Global Medical Contract Manufacturing Market (2020E): Percentage Breakdown of Revenues by Segment
  • An Effective Strategy for Small & Mid-Size Companies
  • Offshoring Model Paves Way for Medical Device Market Growth in Emerging Nations
  • Contract Manufacturing Gains Importance as a Brand Promotion Channel
  • Onshoring Trend Gains Ground
  • Rise in Disease Incidences and Access to Modern Therapeutics Foster Growth
  • Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
  • World Diabetes and Population Statistics (2019, 2030 & 2045)
  • Expanding Role of Outsourcing Partners and Rising Demand for Full-Service Providers
  • Contract Manufacturers Look to Innovations in Medical Devices
  • Design Engineering to Make Gains
  • Product Design & Development Services: High in Demand
  • Myriad Benefits Offered Drive Demand for Product Design & Development Services
  • R&D and After-Market Engineering Support Services for Medical Devices on the Rise
  • CRO Outsourcing Picks Up Momentum
  • Product Testing & Certification Services Gain Traction
  • OEMs Queue Up for Product Implementation and Supply Chain Services
  • Outsourced Regulatory Consulting Services Emerge as New Driving Force
  • Outsourcing of IVD Device Manufacturing Gains Momentum
  • Orthopedic Contract Manufacturing Market: Favorable Growth Potential
  • Global Orthopedic Devices Market by Category (2020):
  • Medical Electronic Manufacturing Services Providers See Increased Opportunities
  • Top 10 Selection Criteria for EMS Partner Ranked by Order of Importance
  • Medical Device Miniaturization Drives Demand for Outsourcing Services
  • Shortening of Product Lifecycles, Speed to Market to Drive Outsourcing Trend
  • A Brief Overview of Major Challenges
4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Recent Past, Current & Future Analysis for Medical Device Outsourcing by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 2: World Historic Review for Medical Device Outsourcing by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 3: World 16-Year Perspective for Medical Device Outsourcing by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2014, 2023 & 2030
  • TABLE 4: World Recent Past, Current & Future Analysis for Contract Manufacturing by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 5: World Historic Review for Contract Manufacturing by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 6: World 16-Year Perspective for Contract Manufacturing by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2023 & 2030
  • TABLE 7: World Recent Past, Current & Future Analysis for Quality Assurance by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 8: World Historic Review for Quality Assurance by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 9: World 16-Year Perspective for Quality Assurance by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2023 & 2030
  • TABLE 10: World Recent Past, Current & Future Analysis for Product Testing & Sterilization Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 11: World Historic Review for Product Testing & Sterilization Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 12: World 16-Year Perspective for Product Testing & Sterilization Services by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2023 & 2030
  • TABLE 13: World Recent Past, Current & Future Analysis for Product Design & Development Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 14: World Historic Review for Product Design & Development Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 15: World 16-Year Perspective for Product Design & Development Services by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2023 & 2030
  • TABLE 16: World Recent Past, Current & Future Analysis for Regulatory Affairs Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 17: World Historic Review for Regulatory Affairs Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 18: World 16-Year Perspective for Regulatory Affairs Services by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2023 & 2030
  • TABLE 19: World Recent Past, Current & Future Analysis for Other Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 20: World Historic Review for Other Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 21: World 16-Year Perspective for Other Services by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2023 & 2030
  • TABLE 22: World Recent Past, Current & Future Analysis for Cardiovascular Devices by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 23: World Historic Review for Cardiovascular Devices by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 24: World 16-Year Perspective for Cardiovascular Devices by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2023 & 2030
  • TABLE 25: World Recent Past, Current & Future Analysis for IVD Devices by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 26: World Historic Review for IVD Devices by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 27: World 16-Year Perspective for IVD Devices by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2023 & 2030
  • TABLE 28: World Recent Past, Current & Future Analysis for Diagnostic Imaging Devices by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 29: World Historic Review for Diagnostic Imaging Devices by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 30: World 16-Year Perspective for Diagnostic Imaging Devices by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2023 & 2030
  • TABLE 31: World Recent Past, Current & Future Analysis for Orthopedic Devices by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 32: World Historic Review for Orthopedic Devices by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 33: World 16-Year Perspective for Orthopedic Devices by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2023 & 2030
  • TABLE 34: World Recent Past, Current & Future Analysis for Ophthalmic Devices by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 35: World Historic Review for Ophthalmic Devices by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 36: World 16-Year Perspective for Ophthalmic Devices by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2023 & 2030
  • TABLE 37: World Recent Past, Current & Future Analysis for Drug Delivery Devices by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 38: World Historic Review for Drug Delivery Devices by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 39: World 16-Year Perspective for Drug Delivery Devices by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2023 & 2030
  • TABLE 40: World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 41: World Historic Review for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 42: World 16-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2023 & 2030
  • TABLE 43: World Medical Device Outsourcing Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
III. MARKET ANALYSIS
  • UNITED STATES
  • Medical Device Outsourcing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
  • Market Overview
  • Impact of Covid-19
  • Medical Device Industry Dynamics
  • Growth in EMS Outsourcing
  • Medical Device Outsourcing in the US: The Largest Regional Market Worldwide
  • US-based Medical Device OEMs Move towards Onshoring Services
  • Competitive Scenario
  • Market Share of Leading Players in the US Medical Device Outsourcing Market: 2020E
  • Market Analytics
  • CANADA
  • JAPAN
  • Medical Device Outsourcing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)
  • Growing Demand for Medical Devices to Spur Medical Device Outsourcing
  • Market Analytics
  • CHINA
  • Medical Device Outsourcing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
  • Market Overview
  • China: High Growth Market for Medical Device Outsourcing
  • Market Analytics
  • EUROPE
  • Medical Device Outsourcing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
  • Market Overview
  • Regulatory Scenario Favors Medical Device Outsourcing
  • Market Analytics
  • FRANCE
  • Medical Device Outsourcing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2023 (E)
  • GERMANY
  • Medical Device Outsourcing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2023 (E)
  • ITALY
  • UNITED KINGDOM
  • Medical Device Outsourcing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2023 (E)
  • SPAIN
  • REST OF EUROPE
  • ASIA-PACIFIC
  • Medical Device Outsourcing Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
  • Market Overview
  • South Asia: Transforming into a Preferred Destination for Medical Device Outsourcing
  • India Emerges as a Lucrative Outsourcing Destination
  • REST OF WORLD
  • Latin America
  • Brazil: ANVISA Brings Forward New Medical Device Modification Rules
  • Market Analytics
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • B. Braun Melsungen AG
  • Cardinal Health, Inc.
  • HCL Technologies Ltd.
  • Charles River Laboratories International, Inc.
  • Heraeus Holding GmbH
  • Eurofins Scientific SE
  • Benchmark Electronics, Inc.
  • Celestica, Inc.
  • Clinipace Inc.
  • Conductive Technologies, Inc.
  • Dravon Medical, Inc.
  • Cadence, Inc.
  • Freyr, Inc.
  • Global Life Sciences Solutions USA LLC (Cytiva)
  • ICON plc