Future Outlook of the Medical Device Contract Manufacturing Market: Growth, Trends, and Emerging Opportunities Explored
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What key factors are powering the surge in the medical device contract manufacturing market right now?
The size of the medical device contract manufacturing market has seen fast expansion in the previous years. The market, which was valued at $101.04 billion in 2024, is set to witness a growth to $115.53 billion in 2025, with a significant compound annual growth rate (CAGR) of 14.3%. Factors such as cost efficiency, specialized manufacturing techniques, resilience in supply chain management, quality assurance and certification, and proficiency in regulatory affairs have been instrumental in propelling the growth in the historic period.
How fast Is the medical device contract manufacturing market expected to grow, and what’s its future value?
In the coming years, the market size for medical device contract manufacturing is anticipated to experience a swift expansion. It’s projected to reach $200.88 billion in 2029, with a Compound Annual Growth Rate (CAGR) of 14.8%. The growth during this forecast period is linked to factors such as reshoring and nearshoring, additive manufacturing, the financial and geopolitical landscape, collaborative research and development initiatives, and sustainable practices. Key trends expected during the forecast period encompass digital manufacturing, wearable devices, issues of data security and privacy, advancements in materials, as well as remote auditing and inspections.
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What are the leading drivers of growth in the medical device contract manufacturing market?
The escalating occurrence of chronic conditions is anticipated to fuel the expansion of the medical device contract manufacturing market in the future. Chronic diseases pertain to illnesses that necessitate continuing medical care or restrict activities. Smart medical gadgets enable patients to scrutinize their health status and manage chronic illnesses more effectively. Hence, there has been a surge in demand for medical device contract manufacturing. For instance, the National Center for Biotechnology Information (NCBI), a US National Library of Medicine, projected in January 2023 that worldwide, there would be 142.66 million individuals battling chronic diseases by 2050, a significant increase from the 71.522 million in 2020. Thus, the escalating occurrence of chronic conditions is pushing the growth of the medical device contract manufacturing market.
What are the key segments defining the medical device contract manufacturing market?
The medical device contract manufacturing market covered in this report is segmented –
1) By Device: IVD Devices, Diagnostic Imaging Devices, Cardiovascular Devices, Drug Delivery Devices, Endoscopy Devices, Ophthalmology Devices, Orthopedic Devices, Dental Devices, Other Devices
2) By Service: Device Development and Manufacturing Service, Quality Management Service, Assembly Service
3) By Application: Laparoscopy, Pulmonary, Urology, Gynecology, Other Applications
Subsegments:
1) By In Vitro Diagnostics (IVD) Devices: Reagents, Test Kits, Assays
2) By Diagnostic Imaging Devices: X-ray Machines, MRI Machines, Ultrasound Equipment
3) By Cardiovascular Devices: Stents, Catheters, Pacemakers
4) By Drug Delivery Devices: Infusion Pumps, Nebulizers, Auto-Injectors
5) By Endoscopy Devices: Flexible Endoscopes, Rigid Endoscopes, Accessories
6) By Ophthalmology Devices: Intraocular Lenses (IOLs), Diagnostic Equipment, Surgical Instruments
7) By Orthopedic Devices: Implants, Surgical Tools, Prosthetics
8) By Dental Devices: Dental Implants, Orthodontic Devices, Dental Chairs
9) By Other Devices: Surgical Instruments, Monitoring Devices, Wearable Health Tech
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Who are the key players steering the development of the medical device contract manufacturing market?
Major companies operating in the medical device contract manufacturing market include Benchmark Electronics Inc., Celestica International LP, Consort Medical plc, Flex Ltd., Gerresheimer AG, Integer Holdings Corporation, Kimball Electronics Inc., Nemera Development S.A., Nipro Corporation, Nortech Systems Inc., Phillips-Medisize Corporation, Plexus Corporation, Sanmina Corporation, Biofortuna Limited, Catalent Inc., Forefront Medical Technologies Pte Ltd., Invetech, SteriPack Group Ltd., Abbott Laboratories, Becton Dickinson and Company, Cardinal Health Inc., Danaher Corporation, GE HealthCare Technologies Inc., Hologic Inc., Intuitive Surgical Inc., Johnson & Johnson, Medtronic plc, Siemens Healthineers AG, Stryker Corporation, 3M Company, Boston Scientific Corporation, Edwards Lifesciences Corporation, Fresenius Medical Care AG & Co. KGaA, Hill-Rom Holdings Inc., Masimo Corporation, ResMed Inc., Smith & Nephew plc, Teleflex Incorporated, Terumo Corporation, Zimmer Biomet Holdings Inc., Alcon Inc., Baxter International Inc., The Cooper Companies Inc., Dentsply Sirona Inc., Getinge AB, Olympus Corporation, Varian Medical Systems Inc.
What emerging trends are influencing the growth of the medical device contract manufacturing market?
Leading corporations in the medical device contract manufacturing sector are increasingly collaborating strategically with other organizations to bolster their product development efforts. For instance, Amnovis, an additive manufacturing corporation from Belgium, and BAAT Medical, an orthopedic medical devices company based in Netherlands, teamed up in June 2022 with an aim to engineer 3D printed medical gadgets. Their cooperative efforts encompassed the complete journey from conceptualization to law-abiding manufacturing, thus accelerating the product-to-market lifecycle and improving the healthcare results for patients. The objective of this cooperation was to redefine the benchmarks for certain types of medical equipment, with an emphasis on investigating materials, refining post-manufacturing methods, enhancing process automation, and assuring validation. Their concerted endeavor resulted in a comprehensive and ISO 13485:2016 approved methodology for effectively scaling up the production of 3D-printed medical equipment, thereby simplifying the development and validation phases for medical device OEMs.
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Which regions are most influential in expanding the medical device contract manufacturing market?
North America will be the largest region in the medical device contract manufacturing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical device contract manufacturing market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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