Medical Device Outsourcing Market Overview
Medical Device Outsourcing Market was valued at US$ 129 billion in 2024 and is projected to grow at a CAGR of 12.9% to reach US$ 390.9 billion by 2034.
Medical device outsourcing refers to the outsourced manufacture of medical devices. Medical device firms can use outsourcing to execute recurrent production and benefit from cost savings, a streamlined supply chain, and logistical alignment. All of these features enable them deliver commercial goods to market while meeting all industry requirements. The medical device component outsourced to contract manufacturers and service providers includes design consultation, device assembly and packaging for shipment, manufacturing process designing and package testing validation service, process improvement identification, recurring processing services, and sterilization validation. Medical device outsourcing is a supply chain management phenomena that focuses on contracting with a third party for product design, production, packaging, testing, prototyping, and verification of medical equipment in a sterile and regulated environment. Typically, outsourcing entails a contract between the client company and the supplier or external outsourced service provider. The provider assumes control of the client's production assets, personnel, and extra resources under the conditions of the contract. Furthermore, the client firm receives services from the supplier in accordance with the contract terms.
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Medical Device Outsourcing Market Dynamics
Large increase in the elderly population
During the forecast period, the market is likely to be driven by rising demand for medical devices, rising pricing competition, and the need to cut costs. Furthermore, rising product engineering challenges, as well as an increasing number of new entrants, are expected to shape the market's future. The COVID-19 pandemic had resulted in a high demand for RT-PCR and COVID-19 antigen test kits. The ongoing pandemic will almost certainly benefit the market. The rising frequency of chronic diseases is driving demand for medical gadgets. Over the forecast period, the increased frequency of chronic diseases such as cancer is expected to drive the expansion of the worldwide medical devices outsourcing market. Cancer has become much more common in the last few decades. According to the International Agency for Research on Cancer, approximately one in every five persons develop cancer during their lifetime, and one in every eight men and one in every eleven women die from the disease. Lip, oral cavity, lung, stomach, colorectal, and esophageal cancers are the most prevalent in men, whereas breast, lip, oral cavity, cervix, lung, and gastric cancers are the most common in women. Another important factor driving market expansion is the growing geriatric population and their vulnerability to diseases.
Medical Device Outsourcing Market Segmentation
The Global Medical Device Outsourcing Market report segments the market on the basis of type, application, service and region.
On the basis of Type, the Global Medical Device Outsourcing Market is segmented into Product (Raw Materials, Electronics, and Finished Goods), Device Type (Class I, II, and III Devices). Based on Application, the market is segmented into Orthopedic & Spine, Cardiovascular, Radiology, and General Medical Devices. Based on Service, the market is segmented into Prototype Development, Finished Device Manufacturing, Assembly & Packaging, and Testing & Regulatory Support Services.
Regional Insights:
Medical Device Outsourcing Market accounted for US$ 50.11 billion in 2020 and is estimated to be US$ 134.89 billion by 2030 and is anticipated to register a CAGR of 11.50%.On region the Global Medical Device Outsourcing Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific region has outperformed in terms of growth, owing mostly to significant countries such as India and China, among others. Due to large population bases, rising demand for single-use medical devices, ongoing innovations and technological breakthroughs in the medical device industry, and rising chronic diseases, emerging countries have made significant contributions to market growth. Furthermore, Asia Pacific countries have become appealing outsourcing hubs for medical device manufacturers due to low operating and labour costs, a large talent pool, and the existence of various clinical trial locations.
Report Scope:
|
Attribute |
Details |
|
Market Size 2024 |
US$ 129 billion |
|
Projected Market Size 2034 |
US$ 390.9 billion |
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CAGR Growth Rate |
12.9% |
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Base year for estimation |
2023 |
|
Forecast period |
2024 – 2034 |
|
Market representation |
Revenue in USD Billion & CAGR from 2024 to 2034 |
|
Market Segmentation |
By Type - Product (Raw Materials, Electronics, and Finished Goods), Device Type (Class I, II, and III Devices) By Application – Orthopedic & Spine, Cardiovascular, Radiology, and General Medical Devices By Service – Prototype Development, Finished Device Manufacturing, Assembly & Packaging, and Testing & Regulatory Support Services |
|
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
|
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Medical Device Outsourcing Market report based on Type, Application, Service and region
Global Medical Device Outsourcing Market, By Region:
- North America
- Middle East & Africa
-
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
-
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
-
- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
-
-
- U.S.
- Canada
- Middle East & Africa
Medical Device Outsourcing Market Key Players
The key players operating in the Medical Device Outsourcing Market includes SGS SA, Intertek Group PLC, Wuxi Apptec, TüvSüd AG, Toxikon, INC., American Preclinical Services, Eurofins Scientific, Sterigenics International LLC, Pace Analytical Services LLC., Charles River Laboratories International, Inc., North American Science Associates, Inc., IQVIA, Accellent Inc., Celestica Inc., Benchmark Electronic Inc., Cadence Inc., Providien LLC, Thermo Fischer Scientific Inc., and West Pharmaceuticals Services Inc.
Medtronic:
Medtronic plc is a registered American-Irish medical device business based in the United States. Medtronic's operational and executive headquarters are located in Minneapolis, Minnesota, in the United States.
Medical Device Outsourcing Market Company Profile
- SGS SA
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Intertek Group PLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Wuxi Apptec
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- TüvSüd AG
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Toxikon
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- American Preclinical Services
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Eurofins Scientific
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Sterigenics International LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Medical Device Outsourcing Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for Medical Device Outsourcing Strategies
- Key Questions this Study will Answer
- Market Snippet, By Type
- Market Snippet, By Application
- Market Snippet, By Service
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Medical Device Outsourcing Market, By Type, 2020 – 2030, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Product Type
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Device Type
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Medical Device Outsourcing Market, By Application, 2020 – 2030, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Orthopedic & Spine
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Cardiovascular
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Radiology
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- General Medical Devices
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Medical Device Outsourcing Market, By Service, 2020 – 2030, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Prototype Development
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Finished Device Manufacturing
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Assembly & Packaging
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Testing & Regulatory Support Services
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Medical Device Outsourcing Market, By Region, 2020 – 2030, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Service, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Service, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Service, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Bn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Service, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Service, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- SGS SA
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Intertek Group PLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Wuxi Apptec
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- TüvSüd AG
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Toxikon
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- American Preclinical Services
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Eurofins Scientific
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Sterigenics International LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
-
- Business Strategies
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The Medical Device Outsourcing Market report segments the market on the basis of type, application, service and region.
During the forecast period, the market is likely to be driven by rising demand for medical devices, rising pricing competition, and the need to cut costs.
The Asia Pacific region has outperformed in terms of growth, owing mostly to significant countries such as India and China, among others.
The key players operating in the Global Medical Device Outsourcing Market includes SGS SA, Intertek Group PLC, Wuxi Apptec, TüvSüd AG, Toxikon, INC., American Preclinical Services, Eurofins Scientific, Sterigenics International LLC, Pace Analytical Services LLC., Charles River Laboratories International, Inc., North American Science Associates, Inc., IQVIA, Accellent Inc., Celestica Inc., Benchmark Electronic Inc., Cadence Inc., Providien LLC, Thermo Fischer Scientific Inc., and West Pharmaceuticals Services Inc.