Dublin, May 31, 2019 (GLOBE NEWSWIRE) -- The "Medical Device Contract Manufacturing Market by Device Type (IVD (Equipment, Consumable), Cardiovascular, Diabetes Care, Drug Delivery, Dental, Orthopedic, Ophthalmic, Endoscopy Devices) Class of Device , Services - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global medical device contract manufacturing market is estimated to reach USD 91.3 billion in 2024 from USD 55.05 billion in 2019, at a CAGR of 10.6% during the forecast period.
The key factors driving the growth of the medical device contract manufacturing market include the overall growth of the medical devices market as a whole, mainly due to rising disease prevalence, life expectancy, and geriatric population. Technological advancement has prompted end users to overhaul or update their manufacturing systems.
As this is a costly process, they look to contract manufacturing. However, market growth is impeded by the growing consolidation in the medical devices market. Larger players, to develop their own manufacturing capabilities to save costs, are focusing on the acquisition of smaller players and CMOs themselves. This may affect the overall pace of market growth.
Major players in the medical device contract manufacturing market include
- Benchmark Electronics Inc.
- Celestica International LP. (Subsidiary of Onex Corporation)
- Consort Medical PLC
- Flex, Ltd.
- Gerresheimer AG
- Integer Holdings Corporation
- Jabil Inc.
- Kimball Electronics, Inc.
- Nemera Development S.A.
- Nipro Corporation
- Nortech Systems, Inc.
- Phillips-Medisize Corporation
- Plexus Corp.
- Sanmina Corporation
- SMC Ltd.
- TE Connectivity Ltd.
- Tecomet, Inc.
- Tessy Plastics Corp
- Viant Medical
- West Pharmaceutical Services, Inc.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Medical Device Contract Manufacturing: Market Overview
4.2 Medical Device Contract Manufacturing Market: Developed Vs. Developing Regions
4.3 Geographical Snapshot: Medical Device Contract Manufacturing Market
4.4 Geographic Mix: Medical Device Contract Manufacturing Market
4.5 Asia Pacific: Medical Device Contract Manufacturing Market Share, By Device Type and Country
5 Market Overview
5.1 Introduction
5.2 Market Drivers
5.2.1 High Growth of the Medical Devices Market
5.2.2 Technological Advancement in Medical Device Modalities
5.2.3 Impact of Industry 4.0 on the Medical Devices Industry
5.3 Market Restraints
5.3.1 Consolidation in the Medical Devices Market
5.4 Market Opportunities
5.4.1 High Growth Potential of Developing Countries Across APAC and Latin America
5.5 Burning Issues
5.5.1 Balancing Technological Capabilities Against Costs
6 Industry Trends
6.1 Increasing Consolidation of OEMs and CMOs
6.2 Growing Interest of Private Equity Firms in Medical Device Contract Manufacturing
6.3 Outsourcing of Medical Device Contract Manufacturing Services
7 Medical Device Contract Manufacturing Market, By Device Type
7.1 Introduction
7.2 IVD Devices
7.2.1 IVD Consumables
7.2.1.1 Increased Accessibility and Demand for Reagents & Kits and Increasing Volume of IVD Tests Performed are the Key Factors Driving Market Growth
7.2.2 IVD Equipment
7.2.2.1 Advances in Life Sciences Research to Support Market Growth
7.3 Diagnostic Imaging Devices
7.3.1 Adoption of New and Advanced Diagnostic Imaging Systems in Developing Countries to Support Market Growth
7.4 Cardiovascular Devices
7.4.1 Rising Prevalence of Cardiovascular Diseases to Drive the Demand for Contract Manufacturing Services
7.5 Drug Delivery Devices
7.5.1 Infusion Devices and Administration Sets
7.5.1.1 Rising Incidence of Chronic Diseases & Growing Number of Surgical Procedures to Drive Market Growth
7.5.2 Syringes
7.5.2.1 High Cost of Safety Syringes and the Increasing Incidence of Needlestick Injuries are the Major Challenges Faced By Manufacturers
7.5.3 Autoinjectors & Pen Injectors
7.5.3.1 Rising Number of Regulatory Approvals for New Drug Therapies and Advancements in Drug Delivery are Supporting Market Growth
7.5.4 Inhalers
7.5.4.1 High Prevalence of Asthma and Copd to Drive Market Growth
7.6 Orthopedic Devices
7.6.1 High Prevalence of Orthopedic Conditions Coupled With the Rising Geriatric Population is the Major Factor Driving the Growth of This Market
7.7 Ophthalmology Devices
7.7.1 Increasing Prevalence of Ophthalmic Diseases & Technological Advancements in Ophthalmic Devices to Support Market Growth
7.8 Diabetes Care Devices
7.8.1 Rising Prevalence of Diabetes is Driving the Demand for Diabetes Devices and Consumables
7.9 Dental Devices
7.9.1 Rising Incidence of Dental Diseases Coupled With the Increasing Adoption of Technologically Advanced Dental Diagnostic Devices to Drive Market Growth
7.10 Endoscopy Devices
7.10.1 Growth in This Market is Driven By the Rising Patient Preference for Minimally Invasive Procedures
7.11 Other Devices
8 Medical Device Contract Manufacturing Market, By Service
8.1 Introduction
8.2 Device Development and Manufacturing Services
8.2.1 Device Engineering Services
8.2.2 Process Development Services
8.2.3 Device Manufacturing Services
8.3 Quality Management Services
8.3.1 Packaging Validation Services
8.3.2 Inspection & Testing Services
8.4 Final Goods Assembly Services
9 Medical Device Contract Manufacturing Market, By Class of Device
9.1 Introduction
9.1.1 Device Classification, By Country/Region
9.1.1.1 US
9.1.1.1.1 Class I: General Controls
9.1.1.1.2 Class II: General Controls With Special Controls
9.1.1.1.3 Class III: General Controls, Special Controls, and Premarket Approval
9.1.1.2 European Union and European Free Trade Association
9.1.1.3 Canada
9.1.1.4 Australia
9.2 Class I Medical Devices
9.3 Class II Medical Devices
9.4 Class III Medical Devices
10 Medical Device Contract Manufacturing Market, By Region
11 Competitive Landscape
11.1 Introduction
11.2 Geographical Assessment of Key Players in the Medical Device Contract Manufacturing Market (2018)
11.3 Product Portfolio Matrix
11.4 Revenue Share Analysis of Key Players in Medical Device Contract Manufacturing Market
11.5 Medical Device Contract Manufacturing Market Share Analysis
11.6 Competitive Situations and Trends
11.6.1 Agreements (2017 - 2019)
11.6.2 Partnerships (2016 - 2019)
11.6.3 Acquisitions (2018 - 2019)
11.6.4 Expansions (2018 - 2019)
11.6.5 Product/Service Launch and Approvals (2016 - 2018)
12 Company Profiles
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