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Global Medical Device Contract Manufacturing Market By Device (IVD Devices, Cardiovascular Devices, Others), By Class of Device (Class l, Class ll Medical Services, Others), By Services, By Region, Forecast & Opportunities to 2026

The global medical device contract manufacturing market accounted for a value of USD 43.9 billion in 2019 and is projected to register growth at a CAGR of 8.3% during forecast period.

COVID-19 has impacted the medical device contract manufacturing market. The demand for technological advanced equipments is increasing as the number patients are increasing having different diseases along with corona virus. The requirement of single-use disposable devices is increasing immensely due to corona virus. The healthcare industry is using medical device contract manufacturing for fulfilling the demand of devices such ventilators, test kits etc. from hospitals across the world. The medical device contract manufacturing market is likely witness growth during forecast period due to COVID-19.

Definition:

Medical device contract manufacturing can be defined as a system through which a manufacturing companies makes medical devices or components of medical devices that can be sold later by another company. It specializes in a certain task or process and it involves highly specialized manufacturing, packaging or production.

Market Dynamics (Drivers/Opportunities):

The demand for medical devices is growing around the world. The diseases of different kind are increasing and the number of geriatric population is also high around the world which increases demand for technological advanced equipment and devices. This makes manufacturers update their manufacturing systems. This drives growth in medical device contract manufacturing market during forecast period.

The longer life expectancy is increasing and the investment in healthcare sector is increasing which results in adoption of technological advanced manufacturing systems. The government is implementing regulations which created a shift to value based healthcare solutions. The competition among this industry is immensely increasing which increases the development in R&D department. This drives growth in medical device contract manufacturing market during forecast period.

Market Insights, by Device

On the basis of device, the medical device contract manufacturing market is segmented into IVD devices, diagnostic imaging devices, cardiovascular devices, drug delivery devices, endoscopy devices, ophthalmology devices, orthopedic devices, dental deices and others. IVD device segment is estimated to hold largest market share during forecast period. The number of hospital is increasing in developing countries as the healthcare infrastructure is developing. The use of IVD devices in medical facilities is increasing as the IVD test volumes are increasing in the world. This drives growth in IVD devices segment during forecast period.

Market Insights, by Class of Device

On the basis of class of device, the medical device contract manufacturing market is segmented into class l medical device, class ll medical device, class lll medical devices. The class ll medical devices segment is estimated to hold largest market share during forecast period. The large number of medical devices falls under class ll medical devices segment. The demand and consumption for class ll medical devices is higher than others. The application is higher for these devices in end-users in healthcare industry. This drives growth in class ll medical devices segment during forecast period.

Market Insights, by Services

On the basis of service, the medical device contract manufacturing market is segmented into device development & manufacturing services, quality management services and final goods assembly services. The device development & manufacturing services segment is estimated to dominate the market during forecast period. The adoption of contract manufacturing services for medical device manufacturing is increasing in many countries of the world. The single-use disposable medical devices majorly used contract manufacturing services. The manufacturing capabilities for device development are improving and this drives growth in device development & manufacturing services segment during forecast period.

Regional Insights

Asia-Pacific region is estimated to grow at highest CAGR during forecast period. The cost of raw material is and labor charges are very low in this region. The healthcare infrastructure is improving which increases demand for medical devices. The demand and adoption of technologically advanced products in healthcare segment is increasing immensely. The Asia-Pacific region has less stringent regulations regarding this market. This drives growth in this region in medical device contract manufacturing market during forecast period.

Key Companies & Market Share Insights

The key market players in medical device contract manufacturing industry are Flex Ltd., Jabil Inc., TE Connectivity Ltd., Sanmina Corporation, Nipro Corporation, Celestica International Lp., Piexus Corp., Benchmark Electronics Inc., Integer Holdings Corporation, Gerresheimer AG, West Pharmaceutical Services Inc., Nortech Systems Inc., Nemera Developemnt S.A., Consort Medical Plc., Tessy Plastic Corp., Kimball Electronics and Viant Medical.

Medical Device Contract Manufacturing Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Medical Device Contract Manufacturing Market, By Devices, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • IVD Devices
  • Diagnostic Imaging Devices
  • Cardiovascular Devices
  • Drug Delivery Devices
  • Endoscopy Devices
  • Ophthalmology Devices
  • Orthopedic Devices
  • Dental Deices
  1. Medical Device Contract Manufacturing Market, By Class of Device, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Class l Medical Device
  • Class ll Medical Device
  • Class lll Medical Devices
  1. Medical Device Contract Manufacturing Market, By Services, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Device Development & Manufacturing Services
  • Quality Management Services
  • Final Goods Assembly Services.
  1. Medical Device Contract Manufacturing Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Devices
    • By Class of Device
    • By Services
    • By Country
      • USA
        • By Services
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Devices
      • By Class of Device
      • By Services
      • By Country
        • Brazil
          • By Services
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Devices
        • By Class of Device
        • By Services
        • By Country
          • UK
            • By Services
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Devices
          • By Class of Device
          • By Services
          • By Country
            • China
              • By Services
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Devices
            • By Class of Device
            • By Services
            • By Country
              • Saudi Arabia
                • By Services
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Viant Medical
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • Flex Ltd.
    • Jabil Inc.
    • TE Connectivity Ltd.
    • Sanmina Corporation
    • Nipro Corporation
    • Celestica International Lp.
    • Piexus Corp.
    • Benchmark Electronics Inc.
    • Integer Holdings Corporation
    • Gerresheimer AG
    • West Pharmaceutical Services Inc.
    • Nortech Systems Inc.
    • Nemera Developemnt S.A.
    • Consort Medical Plc.
    • Tessy Plastic Corp.
    • Kimball Electronics
  2. Appendix
    • Interrelated Market

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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