Dublin, April 12, 2019 (GLOBE NEWSWIRE) -- The "Medical Device Outsourcing Market Size, Share & Trends Analysis Report By Services (Quality Assurance, Contract Manufacturing), By Therapeutic Area (Cardiology, General & Plastic Surgery), And Segment Forecasts, 2019 - 2026" report has been added to ResearchAndMarkets.com's offering.
The global medical device outsourcing market size is expected to reach USD 210.5 billion by 2026, according to this report. It is anticipated to progress at a CAGR of 10.5% during the forecast period. Rising demand for advanced products and the trend of offshoring is fueling the growth.
Regulatory bodies emphasize on the quality of the healthcare devices provided to the public, encouraging industry players to offer various services like regulatory consulting. For example, the European Medical Device Regulation undertake special spontaneous inspection of outsourced products to test the quality as well as conformity with standards.
Contract manufacturers, especially in developed countries like U.S., European Union (EU) nations, and Japan, comply with international standard for quality management system, which makes them a preferred option as compared with contract manufacturers in India and China. However, regulatory changes anticipated in the developing countries ensure compliance by contract manufacturers. Emphasis on regulatory compliance is expected to boost the growth of consulting services such as remediation, compliance, and Quality Management Systems (QMS), thereby contributing to the growth of global medical device outsourcing market.
Also, the budget scrutiny in developed countries, pricing pressure, and changes in reimbursement schemes are some of the major factors anticipated to increase the adoption of cost containment measures by the Original Equipment Manufacturers (OEM). This trend is expected to boost the medical device outsourcing to emerging countries like India and China. Export infrastructure, low cost labor, artificially low currency value, and government incentives for local manufacturers, especially in China; are some of the benefits offered by the contract manufacturers in emerging countries.
Further key findings from the report suggest:
- Contract manufacturing led the service segment in 2018 owing to the growing trend of outsourcing by OEM to third-party manufacturers, especially in emerging countries
- Based on service, quality assurance is projected to exhibit the fastest CAGR over the forecast period
- Asia Pacific led the medical device outsourcing market in 2018 owing to lower cost and increased availability of skilled human resources
- North America commanded a cumulative market share in 2018 due to well-established infrastructure for manufacturing complex medical devices
- Some of the key companies present in the market are Toxikon Inc.; Eurofins Scientific; SGS SA; MAPI; Freyr Solutions; Integer; Celestica; Pace Analytical Services; Jabil; Wuxi Apptec; PPD; Intertek Group; Flextronics; Tecomet; and Sanmina
Key Topics Covered
Chapter 1 Report Scope
1.1 Segment Market Scope
1.2 Regional Scope
Chapter 2 Methodology
2.1 Research Methodology
2.2 Information or Data Analysis
2.3 Market Formulation & Validation
2.4 Region Wise Market Calculation
2.5 Region Based Segment Share Calculation
2.6 Model Details
2.7 List of Secondary Sources
2.8 List of Primary Sources
2.9 List of Abbreviations
Chapter 3 Objectives
Chapter 4 Executive Summary
4.1 Market Outlook
4.2 Segment Outlook
4.3 Competitive Insights
Chapter 5 Medical Device Outsourcing Market: Variables, Trends & Scope
5.1 Market Lineage Outlook
5.2 Penetration & Growth Prospect Mapping
5.3 Product Pipeline Analysis, by Stage
5.4 User Perspective Analysis
5.5 List of Key End-users, by region / by product / by country
5.6 Regulatory Framework
5.7 Market Variable Analysis
5.8 Medical Device Outsourcing Market: Analysis Tools
Chapter 6 Medical Device Outsourcing Market: Services Segment Analysis
6.1 Medical Device Outsourcing Market: Definition & Scope
6.2 Medical Device Outsourcing Market: Segment Dashboard
6.3 Medical Device Outsourcing Market: Market Share Analysis, 2018 & 2026
6.4 Medical Device Outsourcing Market: Segment Dashboard
6.5 Quality Assurance
6.6 Regulatory Affairs Services
6.7 Product Design And Development
6.8 Product Testing And Sterilization
6.9 Product Implementation
6.10 Product Upgrade
6.11 Product Maintenance
6.12 Contract Manufacturing
Chapter 7 Medical Device Outsourcing Market: Application Segment Analysis
7.1 Medical Device Outsourcing Market: Definition & Scope
7.2 Medical Device Outsourcing Market: Segment Dashboard
7.3 Medical Device Outsourcing Market: Market Share Analysis, 2018 & 2026
7.4 Cardiology
7.5 Diagnostic Imaging
7.6 Orthopedic
7.7 IVD
7.8 Ophthalmic
7.9 General & Plastic Surgery
7.10 Drug Delivery
7.11 Dental
7.12 Endoscopy
7.13 Diabetes Care
7.14 Others
Chapter 8 Medical Device Outsourcing Market: Regional Analysis
8.1 Medical Device Outsourcing Market: Definition & Scope
8.2 Regional Market Snapshot
8.3 Regional Market Share and Leading Players, 2018
8.4 SWOT Analysis, by Factor (Political & Legal, Economic and Technological)
8.5 Medical Device Outsourcing Market: Market Share Analysis, 2018 & 2026
8.6 North America
8.7 Europe
8.8 Asia Pacific
8.9 Latin America
8.10 MEA
Chapter 9 Competitive Analysis
9.1 Recent Developments & Impact Analysis, By Key Market Participants
9.2 Company/Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
9.3 Vendor Landscape
9.4 Public Companies
9.5 Private Companies
9.6 Supplier Ranking
Chapter 10 Company Profiles
10.1 Strategic Framework
Chapter 11 KOL Commentary
Chapter 12 Recommendations
Companies Mentioned
- SGS S.A.
- Toxikon Inc.
- Eurofins Scientific
- Pace Analytical Services LLC
- Intertek Group PLC
- Wuxi Apptec
- North American Science Associates Inc.
- TV SD AG
- American Preclinical Services
- Sterigenics International LLC
- Charles River Laboratories International Inc.
- Medical Device Testing Services
- RJR Consulting Inc.
- Mandala International.
- Mapi Group
- Freyr
- Global Regulatory Partners LLC
- Parexel International Corporation
- Emergo
- Bioteknica
- Accell Clinical Research
- Genpact Ltd.
- Criterium Inc.
- PRA Health Sciences
- Promedica International
- Medpace
- Icon PLC
- Quintilesims
- Covance Inc.
- Integer Holdings Corporation
- Tecomet Inc.
- Jabil Inc.
- Flex Ltd.
- Celestica Inc.
- Sanmina Corporation
- Plexus Corp.
- Phillips Medisize
- Cantel Medical Corp.
- West Pharmaceutical Services Inc.
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