How the Medical Device Outsourcing Market Will Grow: Key Trends, Market Size, and Opportunities Beyond 2025
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Major Innovations Are Driving the Accelerated Growth of the Medical Device Outsourcing Market?
The medical device outsourcing market is expected to grow due to the increasing prevalence of chronic diseases. These are conditions that persist for a year or longer, necessitating continuous medical care or affecting daily activities or both. This increase in chronic diseases boosts the demand for high-quality medical products in a shorter time frame, subsequently propelling the medical devices outsourcing market. As reported by the UN Chronicle, the global impact of chronic diseases is projected to rise to about 56% by 2030. Thus, the growing number of chronic diseases will fuel the expansion of the medical device outsourcing market.
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How Will the Growth Rate of theMedical Device Outsourcing Market Impact Industry Trends by 2034?
In recent times, there has been a swift expansion in the size of the medical device outsourcing market. The market, which was worth $144.86 billion in 2024, is predicted to escalate to $163.1 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 12.6%. The notable growth during the historic period is the outcome of factors such as escalating complexity in medical devices, affordable manufacturing solutions, focus on basic competencies, market globalization, and an increase in contract research and development (R&D).
The size of the medical device outsourcing market is predicted to undergo swift expansion in the coming years. The market is estimated to increase to a value of $290.76 billion in 2029, with a compound annual growth rate (CAGR) of 15.6%. Reasons for this projected growth during the forecast period include a concentration on core competencies, shorter time-to-market conditions, cost-effective production, necessity for scalability and adaptability, and the increasing complexity of medical devices. Key trends predicted for the forecast timeframe include an increase in customization and personalization, an emphasis on risk control and compliance, rising demand for remote monitoring devices, heightened prioritization of data security, and innovation in wearable medical devices.
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What Are the Most Significant Market Trends Transforming theMedical Device Outsourcing Market?
The trend of strategic alliances and cooperations has become increasingly popular in the medical device outsourcing industry. Key players in this market are concentrating their efforts on these partnerships and collaborations to achieve market domination. For example, in July 2023, Medical Device Inc., a US contract manufacturer of medical devices, took over NextPhase Medical Devices LLC for an undisclosed sum. The result of this acquisition was a doubling in size for NextPhase and a solid footing as a top international contract manufacturer of medical devices, earning 70% of its revenue from the U.S. The United Group operates seven well-funded, comprehensive production sites throughout North America, Europe, and North Africa, and offers a broad range of manufacturing capabilities, with significant exposure to end-markets on a global scale. NextPhase Medical Devices LLC is a medical device manufacturing company based in Mexico.
What Are the Top Market Players Propelling the Growth of theMedical Device Outsourcing Industry?
Major companies operating in the medical device outsourcing market include Cardinal Health Inc., Flex Ltd., Te Connectivity Ltd., Sanmina Corporation, Celestica Inc., WuXi AppTec Inc., Phillips-Medisize LLC, Intertek Group plc, Plexus Corp, Nipro Medical Corporation, Teleflex Incorporated, Integer Holdings Corporation, Cantel Medical Corp, Sterigenics International LLC, Nortech Systems Incorporated, Toxikon Inc., North American Science Associates Inc, Omnica Corp, NAMSA, Tecomet Inc., Viant Medical
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Which Primary Segments of the Medical Device Outsourcing Market Are Driving Growth and Industry Transformations?
The medical device outsourcing market covered in this report is segmented –
1) By Product: Finished Goods, Electronics, Raw Materials
2) By Device Type: Class I Devices, Class II Devices, Class III Devices
3) By Services: Quality Assurance, Regulatory Affair Services, Product Design Development, Product Testing And Sterilization, Product Implementation, Product Upgrade, Product Maintenance, Contract Manufacturing
4) By Application: Drug Delivery, Dental, Diabetes Care, Cardiology, Other Applications
Subsegments:
1) By Finished Goods: Surgical Instruments, Diagnostic Devices, Therapeutic Devices
2) By Electronics: Medical Imaging Components, Wearable Health Technology, Embedded Systems
3) By Raw Materials: Plastics and Polymers, Metals and Alloys, Biomaterials
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Which Regions Are Key Players in the Growth of the #What Major Innovations Are Driving the Accelerated Growth of the Medical Device Outsourcing Market?# Market?
North America was the largest region in the medical device outsourcing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical device outsourcing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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