The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Medical Device Contract Manufacturing Global Market Report 2023, the medical device contract manufacturing market is expected to show significant growth in the forecast period.

Key insights from the medical device contract manufacturing market forecast include:

1. Market Size

The global medical device contract manufacturing market is projected to rise from $76.83 billion in 2022 to $87.04 billion in 2023 at a compound annual growth rate (CAGR) of 13.3%. The market size of global medical device contract manufacturing is expected to grow to $141.27 billion in 2027 at a CAGR of 12.9%.

2. Major Driver

The increasing occurrence of chronic ailments is set to drive the growth of the medical device contract manufacturing market. Chronic diseases, which necessitate continuous medical care and may restrict daily activities, are on the rise. Smart medical devices aid patients in monitoring their health and managing chronic conditions more effectively. Consequently, there is a heightened demand for medical device contract manufacturing services. For instance, in 2020, as reported by the World Health Organization, chronic disease prevalence surged by 57%. Hence, the upsurge in chronic disorders fuels the expansion of the medical device contract manufacturing market.

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3. Key Trend

Technological advancements are a prominent trend in the medical device contract manufacturing sector. Leading companies in this industry are dedicated to creating innovative technological solutions to enhance their market presence. For instance, in December 2020, Forefront Medical Technology Pte Ltd., a Singapore-based medical device contract manufacturer, introduced EzySwaba, an innovative nasopharyngeal COVID-19 test swab. EzySwab was specifically designed to meet the demand for COVID-19 test swabs, particularly in Singapore’s forefront of medical research. It combines the flexibility of biocompatible nylon for easy nasopharyngeal insertion with a secure breakpoint feature for swift transfer to a sample collection tube.

4. Largest Region

North America will be the largest region in the medical device contract manufacturing market in 2022.

5. Major Players

Major players in the food diagnostics market are 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, and SteriPack Group Ltd.

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Key Medical Device Contract Manufacturing Market Segments

The global medical device contract manufacturing market 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

The Medical Device Contract Manufacturing Global Market Report 2023  provides an in-depth analysis on the medical device contract manufacturing market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the medical device contract manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
Medical And Diagnostic Laboratory Services Global Market Report 2023
Medication Adherence Global Market Report 2023
Medical Feed Additives Global Market Report 2023

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