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The medical device contract manufacturing market is forecasted to achieve notable growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 12%, as per The Business Research Company’s market report!

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The Medical Device Contract Manufacturing Market Size In 2022 And Forecast
The global medical device contract manufacturing market grow from $68.01 billion in 2021 to $76.41 billion in 2022 at a compound annual growth rate (CAGR) of 12.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The medical device contract manufacturing market is expected to grow to $121.25 billion in 2026 at a CAGR of 12.2%.

The medical device contract manufacturing market consists of sales of medical device contract manufacturing products by entities (organizations, sole traders, and partnerships) that are used for the benefits of cost optimization, device upgrade, regulatory guidance, or expansion.

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Rise In The Prevalence Of Chronic Disorders Is Driving The Growth Of The Medical Device Contract Manufacturing Market
For instance, in 2020, according to the World Health Organization, a Switzerland-based government agency, chronic disease prevalence grew by 57% in the year 2020. Therefore, the rising prevalence of chronic disorders is driving the medical device contract manufacturing market.

Competitive Landscape And The Regional Analysis Of The Medical Device Contract Manufacturing Market
Major players in the medical device contract manufacturing 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.

Additionally, as per TBRC’s research – North America was the largest region in the medical device contract manufacturing market in 2021 holding the largest market share and Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The Medical Device Contract Manufacturing Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. 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. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the medical device contract manufacturing market.

Technological Innovations – A Key Trend In The Medical Device Contract Manufacturing Market
Major companies operating in the medical device contract manufacturing market are focused on developing new technological solutions to strengthen their position.

Medical Device Contract Manufacturing Market Segmentation By The Business Research Company
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

Here Are Some Reports Related To The Medical Device Contract Manufacturing Market –

Medical Equipment Global Market Report 2022

Contract Development Manufacturing Organizations Global Market Report 2022

Manufacturing Analytics Global Market Report 2022

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