Understanding Key Drivers and Growth Opportunities in the Medical Device Contract Manufacturing Market: Trends and Market Size Insights
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What Major Innovations Are Driving the Accelerated Growth of the Medical Device Contract Manufacturing Market?
The medical device contract manufacturing market is set to expand due to the increasing prevalence of chronic diseases, which require ongoing medical attention. Smart medical devices help patients manage these conditions, driving the demand for contract manufacturing. The National Center for Biotechnology Information (NCBI) projects 142.66 million people worldwide will have chronic diseases by 2050, up from 71.5 million in 2020. This rising demand is expected to boost market growth.
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#What is the Growth Potential of the Medical Device Contract Manufacturing Market, and How Will It Perform by 2034?
The medical device contract manufacturing market size has seen strong growth in recent years. It will grow from $101.04 billion in 2024 to $115.53 billion in 2025, at a compound annual growth rate (CAGR) of 14.3%. Key drivers for this growth include cost efficiency, specialized manufacturing, supply chain resilience, quality standards, and regulatory expertise.
The medical device contract manufacturing market is projected to grow rapidly, reaching $200.88 billion by 2029 with a CAGR of 14.8%. Contributing factors include reshoring, nearshoring, additive manufacturing, economic and geopolitical influences, and collaborative R&D. Key trends include digital manufacturing, wearable devices, data security and privacy, material advancements, and remote auditing and inspections.
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What Are the Most Significant Market Trends Transforming theMedical Device Contract Manufacturing Market?
In the medical device contract manufacturing market, companies are forming strategic partnerships to enhance product development. For example, in June 2022, Amnovis, a Belgium-based additive manufacturing company, and BAAT Medical, a Netherlands-based orthopedic medical device firm, collaborated to create 3D printed medical devices. This partnership covered the entire process from design to legal manufacturing, streamlining time to market and improving patient outcomes. Their collaboration introduced an ISO 13485:2016 certified process for scalable 3D printing of medical devices, emphasizing material research, post-processing, and process automation.
What Are the Top Market Players Propelling the Growth of theMedical Device Contract Manufacturing Industry?
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.
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Which Primary Segments of the Medical Device Contract Manufacturing Market Are Driving Growth and Industry Transformations?
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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Which Regions Are Key Players in the Growth of the #What Major Innovations Are Driving the Accelerated Growth of the Medical Device Contract Manufacturing Market?# 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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