Global Medical Device Contract Manufacturing Market: Trend Analysis and Forecast to 2022

Published - Jan 2017 | Category - Healthcare | No. of Pages - 100+ | Published By - Infinium Global Research

Report Highlights

Medical devices are the products designed and built to improve the patient experience. Medical device contract manufacturing is an outsourcing of certain medical production activities that were previously performed by the manufacturer to a third party. Companies enter into medical device contract manufacturing when they have to outsource the assembly of the product of certain components. Cost savings, utilization of professional experienced by contract manufacturers, FDA compliance that guarantees the manufacturer will meet all production standards and regulations are the key benefits associated with contract manufacturing of medical devices.
In 2014, the global medical device contract manufacturing market size was valued over USD 40 billion. The global medical device contract manufacturing market is projected to grow with a CAGR of x.x % during 2016-2022 and reach USD xx.x billion by 2022. Increasing number of diseases, technological advancement, highly innovative devices, cost effective, speedy delivery of medical devices and increasing awareness about healthcare among the people are the key factors driving the growth of global medical device contract manufacturing market. However, undifferentiated business models, stringent government regulations, new health care delivery models and lower socio-economic classes which are unable to serve are the major restraining factors in this market. Highly attractive history and relatively stable market are anticipated to bring more opportunities to major players as well as new entrants in the global medical device contract manufacturing market.
Segments Covered:
The report segments the medical device contract manufacturing market by product type and by device type. The market segmentation based on product type includes raw material/component, electronic manufacturing and finished good/product. Electronic manufacturing was accounted for the largest segment in terms of revenue with more than 50% of market share in the global medical device contract manufacturing market in 2015. Increasing demand for electronic devices is expected to boost the growth rate of electronic manufacturing segment. Moreover, based on device type, the global medical device contract manufacturing market is segmented into classes such as class I, class II and class III.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia Pacific, Latin America and Rest of the World (RoW). North America was the largest market for medical device contract manufacturing, and continues its dominance with a market share of more than 50% in global medical device contract manufacturing market. Increasing demand for electronic medical devices and increasing expenditure and purchasing power of people are considered to be the key factors driving the growth in this region. Asia pacific is the most attractive and fast growing market region in medical device contract manufacturing market and is anticipated to grow at the highest CAGR over the forecast period. Furthermore, China and India are anticipated to be attractive low cost destinations for OEMs, witnessing a stronger growth rate in APAC region over the forecast period.
Companies Profiled:
The companies covered in the report include Benchmark Electronics, Inc., Jabil Circuit, Flextronics, Greatbatch, Inc., Nortech Systems, Inc., Symmetry Medical Inc., West Pharmaceutical Services, Inc., Celestica, Creganna Medical, Vention Medical, and Sanmina Corporation.
Report Highlights:
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of medical device contract manufacturing globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and value chain analysis of medical device contract manufacturing market. Moreover, the study highlights current market trends and provides forecast from 2016 to 2022. We also have highlighted future trends in the medical device contract manufacturing market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the medical device contract manufacturing market to understand the present and future trends in this market and formulate their strategies accordingly.
 

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