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

The Business Research Company’s medical device outsourcing market report forecasts the medical device outsourcing market size to grow to $204.25 Billion by 2027, with a CAGR (compound annual growth rate) of more than 12%.

Learn More On The Medical Device Outsourcing Market Report 2023 – https://www.thebusinessresearchcompany.com/report/medical-device-outsourcing-global-market-report

Medical Device Outsourcing Market Size Forecast
The global medical device outsourcing market is expected to grow from $114.95 billion in 2022 to $129.4 billion in 2023 at a compound annual growth rate (CAGR) of 12.6%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The medical device outsourcing market size is expected to grow to $204.25 billion in 2027 at a CAGR of 12.1%.

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

Key Medical Device Outsourcing Market Driver ­– Increase In The Prevalence Of Chronic Diseases
For instance, according to the UN Chronicle, a digital magazine of the United Nations, the global burden of chronic diseases is expected to reach about 56% by 2030. Therefore, the prevalence of chronic diseases will drive the growth of the medical device outsourcing market.

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Key Medical Device Outsourcing Market Trend – Strategic Partnerships And Collaborations
Major companies operating in the market are focusing on partnerships and collaborations to lead the market. For instance, in December 2021, Labcorp, a US-based laboratory testing company acquired Toxikon Corporation for an undisclosed amount. This acquisition would extend Labcorp’s portfolio of full-service drug development and medical device solutions from discovery to market approval. Toxikon Corporation is a US-based contract manufacturing company that provides outsourcing services for medical devices. Furthermore, in February 2020, Integer Holdings, a US-based advanced medical device outsourcing company acquired Inomec for an undisclosed amount. This acquisition of Inomec will allow Integer to establish a research and development and sales center in Israel, in addition to optimizing its catheter design, clinical, and pilot manufacturing capabilities. Income is an Israel-based medical device outsourcing company.

Medical Device Outsourcing Market Segment
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

Medical Device Outsourcing Market Major Players and Strategies
Major players in the medical device outsourcing market are Flex Ltd., Integer Holdings Corporation, Plexus Corp., Toxikon Inc., Eurofins Scientific SE, Pace Analytical Services Inc., WuXi AppTec Inc., North American Science Associates Inc., Charles River Laboratories International Inc., Creganna, IQVIA, Mitutoyo Corporation, Cardinal Health Inc., Onex Corporation, Te Connectivity Ltd., Nortech Systems Incorporated, Sanmina Corporation, and Sterigenics International LLC.

In December 2021, Integer Holdings, a US-based advanced medical device outsourcing company, acquired Oscor Inc. for $220 million. This acquisition of Oscor strengthens Integer’s ability to serve customers by expanding the product offering in steerable sheaths and cardiac and neurostimulation leads and adding low-cost manufacturing capacity to support growth. Oscor is a US-based company that operates in medical device outsourcing services.

The Medical Device Outsourcing Global Market Report 2023 covers regional data on medical device outsourcing market size, medical device outsourcing market trends and drivers, opportunities, strategies, and medical device outsourcing market competitor analysis. The countries covered in the medical device outsourcing 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.

Medical device outsourcing is a process in which a company outsources the manufacturing process of a medical device to another company.

View More Reports Related To The Medical Device Outsourcing Market –
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Medical Device Contract Manufacturing Global Market Report 2023

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