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Medical Device Contract Manufacturing Market reaching at US$ 91.3 billion by 2024 and growing at 10.6% CAGR and - study and overview

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Report analyzes medical device contract manufacturing market and aims at estimating the market size and future growth potential of market based on various segments like device type, service, class of device, and region. Technological advancements have prompted end users to overhaul or update their manufacturing systems.

Medical device contract manufacturing market is expected to reach USD 91.3 billion by 2024 from an estimated US$ 55 Billion in 2019, at 10.6% CAGR. Dominant share of this regional segment is mainly due to lower cost of raw material and labor compared to developed countries, increasing demand for medical devices due to improving healthcare infrastructure, adoption of technologically advanced products, & less stringent regulatory scenario compared to most developed countries.

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Key factors driving growth of medical device contract manufacturing market include overall growth of medical devices market as a whole, mainly due to rising disease prevalence, life expectancy, and geriatric population. 

Report will enrich established firms as well as new entrants/smaller firms to gauge pulse of market, which, in turn, would help them garner a greater share of market.

“Cardiovascular devices and endoscopy devices are projected to witness the highest growth during the forecast period.”

Medical Device Contract Manufacturing Market growth largely driven by rising global disease prevalence, life expectancy, and geriatric population. The report also includes a product portfolio matrix of various contract device manufacturing products available in market.

Report provides a competitive analysis of key players in this market, along with their company profiles, product offerings, recent developments, & key market strategies.

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Top players of medical device contract manufacturing market are West Pharmaceutical Services, Inc. (US), Nipro Corporation (Japan), Integer Holdings Corporation (US) TE Connectivity, Ltd.

(Switzerland), Benchmark Electronics, Inc. (US), Sanmina Corporation (US), SMC Ltd.

(US), Celestica Inc. (Canada), Consort Medical PLC (UK), Plexus Corporation (US), Gerresheimer Ag (Germany), Nortech Systems, Inc. (US), Kimball Electronics Inc. (US), Nordson Corporation (US), Teleflex Incorporated (US), Tecomet, Inc.

(US), Nemera (France), and Tessy Plastics, Corp. (US).

Recent Developments

  • In April 2019, West Pharmaceutical Services, Inc. (US) expanded its presence in the Asia Pacific region with a new sales office in Korea—West Pharmaceutical Services Korea Ltd.
  • In March 2019, Nemera Development SA (France) partnered with Novo Nordisk (Denmark) to build a new manufacturing site in France to manufacture injectable devices.
  • In October 2018, Phillips-Medisize Corporation (US) signed an agreement with InterSystem Corporation (US) to develop a third-generation connected health platform.
  • In July 2018, Jabil Inc. (US) acquired True-Tech Corporation (US), a manufacturer specializing in aerospace, semiconductor, and machined medical components for USD 95.9 million.

More Information on “Medical Device Contract Manufacturing Market by Device Type (IVD (Equipment, Consumable), Cardiovascular, Diabetes Care, Drug Delivery, Dental, Orthopedic, Ophthalmic, Endoscopy Devices) Class of Device (Class I, II III), Services - Global Forecast to 2024” at…me=2272381 .

Research Coverage:

Comprehensive information on the product portfolios of the top players in the global medical device contract manufacturing market. The report analyzes this market by device type, service, class of device, and region.

Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.

Key Benefits of Buying the Report:

In-depth assessment of Medical Device Contract Manufacturing market shares, growth strategies, product offerings, and capabilities of leading players in global medical device contract manufacturing market. Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in global medical device contract manufacturing market.

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