Dublin, Aug. 26, 2021 (GLOBE NEWSWIRE) -- The "Medical Device Outsourcing - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Medical Device Outsourcing Market to Reach $162.4 Billion by 2027
Amid the COVID-19 crisis, the global market for Medical Device Outsourcing estimated at US$92.5 Billion in the year 2020, is projected to reach a revised size of US$162.4 Billion by 2027, growing at a CAGR of 8.4% over the analysis period 2020-2027.
Contract Manufacturing, one of the segments analyzed in the report, is projected to record a 9.1% CAGR and reach US$82.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Quality Assurance segment is readjusted to a revised 10% CAGR for the next 7-year period.
The U.S. Market is Estimated at $40.7 Billion, While China is Forecast to Grow at 9.5% CAGR
The Medical Device Outsourcing market in the U.S. is estimated at US$40.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$17.8 Billion by the year 2027 trailing a CAGR of 9.5% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.8% and 7.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.1% CAGR.
Product Testing & Sterilization Services Segment to Record 7.4% CAGR
In the global Product Testing & Sterilization Services segment, USA, Canada, Japan, China and Europe will drive the 7.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$10 Billion in the year 2020 will reach a projected size of US$16.4 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$12.8 Billion by the year 2027.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Providers of Critical Medical Supplies Gain Traction
Medical Device Outsourcing: An Introduction
Quality Remains Guiding Factor
Medical Device Outsourcing Services
Classification of Medical Devices
Medical Device Outsourcing Market by Device Category: 2020E
Asia-Pacific Emerges as a Preferred Outsourcing Destination
Class II Devices: Important Device Category
Improving Healthcare Expenditure to Bode Well for Market Growth
Consolidation Continues to Mark the Industry
Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 74 Featured)
Benchmark Electronics, Inc.
HCL Technologies Limited
Integer Holdings Corporation
Intertech Engineering Associates, Inc.
Millstone Medical Outsourcing, LLC
Nortech Systems, Inc.
Thermo Fisher Scientific, Inc.
West Pharmaceutical Services, Inc.
WuXi AppTec Co., Ltd.
3. MARKET TRENDS & DRIVERS
Focus on Core Competencies: A Major Objective of Contract Manufacturing
An Effective Strategy for Small & Mid-Size Companies
Offshoring Model Paves Way for Medical Device Market Growth in Emerging Nations
Contract Manufacturing Gains Importance as a Brand Promotion Channel
Onshoring Trend Gains Ground
Rise in Disease Incidences and Access to Modern Therapeutics Foster Growth
Expanding Role of Outsourcing Partners and Rising Demand for Full-Service Providers
Contract Manufacturers Look to Innovations in Medical Devices
Design Engineering to Make Gains
Product Design & Development Services: High in Demand
Myriad Benefits Offered Drive Demand for Product Design & Development Services
R&D and After-Market Engineering Support Services for Medical Devices on the Rise
CRO Outsourcing Picks Up Momentum
Product Testing & Certification Services Gain Traction
OEMs Queue Up for Product Implementation and Supply Chain Services
Outsourced Regulatory Consulting Services Emerge as New Driving Force
Outsourcing of IVD Device Manufacturing Gains Momentum
Orthopedic Contract Manufacturing Market: Favorable Growth Potential
Medical Electronic Manufacturing Services Providers See Increased Opportunities
Top 10 Selection Criteria for EMS Partner Ranked by Order of Importance
Medical Device Miniaturization Drives Demand for Outsourcing Services
Shortening of Product Lifecycles, Speed to Market to Drive Outsourcing Trend
A Brief Overview of Major Challenges
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/oo8ruc
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