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

According to The Business Research Company’s Medical Device Contract Manufacturing Global Market Report 2023, the global medical device contract manufacturing market size grew 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 the global medical device contract manufacturing is expected to grow to $141.27 billion in 2027 at a CAGR of 12.9%.

North America held the largest medical device contract manufacturing market share, and Asia-Pacific was the fastest-growing region in 2022.

Medical Device Contract Manufacturing Market Driver
The rising prevalence of chronic disorders is expected to propel the growth of the medical device contract manufacturing market going forward. Chronic diseases refer to conditions that require ongoing medical attention or limit activities. Smart medical devices help patients monitor their health conditions and better manage their chronic diseases. As a result, there is an increase in demand for medical device contract manufacturing. 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 growth of the medical device contract manufacturing market.

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Key Medical Device Contract Manufacturing Market Segments
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

Medical Device Contract Manufacturing Market Prominent Players
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

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Prominent Medical Device Contract Manufacturing Market Trend
Technological innovations are the key trend gaining popularity 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. For instance, in December 2020, Forefront Medical Technology Pte Ltd., a Singapore-based company and medical device contract manufacturer, launched EzySwaba, a uniquely designed nasopharyngeal COVID-19 test swab. The EzySwab was developed to support the need for COVID-19 test swabs in the forefront of medical research in Singapore. This consists of the flexibility of biocompatible nylon for simple nasopharyngeal insertion and a safe breakpoint feature for rapid transfer to a sample collection tube.

The Medical Device Contract Manufacturing Global Market Report 2023  provides comprehensive insights on the medical device contract manufacturing market size, trends and drivers, opportunities, strategies, and competitor 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 –
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Medical Equipment Global Market Report 2023

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