Medical Device Outsourcing Market cover

Medical Device Outsourcing Market by Applications (Diabetes Care [Class III, Class II, and Class I], Endoscopy [Class III, Class II, and Class I], Dental, Drug Delivery [Class III, Class II, and Class I], General & Plastic Surgery [Class III, Class II, and Class I], Ophthalmic [Class III, Class II, and Class I], IVD [Class III, Class II, and Class I], Orthopedic [Class III, Class II, and Class I], Diagnostic Imaging [Class III, Class II, and Class I], Cardiology [Class III, Class II, and Class I], and Others [Class III, Class II, and Class I]), Services (Product Testing & Sterilization Services, Product Implementation Services, Product Upgrade Services, Product Maintenance Services, Quality Assurance Services, Regulatory Affairs Services [Regulatory Writing & Publishing, Clinical Trials Applications & Product Registrations, Legal Representation, and Others], Contract Manufacturing [Component Manufacturing, Assembly Manufacturing, Accessories Manufacturing, and Device Manufacturing], and Product Design & Devel

  • Report ID: HC-2768
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 3
  • No. Of Pages: 192
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The global medical device outsourcing market size was valued at USD 99.88 billion in 2020 and is estimated to reach USD 226.95 billion by 2028, expanding at a CAGR of 11 % during the forecast period, 2021–2028. The growth of the market is attributed to increasing demand for medical devices along with rising price competition globally.

Medical Device Outsourcing Market summary

Medical device outsourcing is a supply chain management phenomenon that focuses on contracting with a third party for prototyping, testing, production, product design, packaging, and verification of medical equipment in a sterile and regulated environment. Outsourcing usually entails a contract between the client company and the supplier or outsourced service provider. It enables device manufacturers to concentrate on their core operations, such as product development and marketing. It also aids in lowering the overall cost and time required to bring a product to market. Medical device outsourcing has a number of benefits, including shorter manufacturing time, early product release, and quality check certifications that meet regulatory requirements. The market is growing due to increased pressure on manufacturers to reduce overhead and operational costs while maintaining the quality of healthcare services.

The impact of COVID-19 pandemic has been positive on the medical device outsourcing market. During the pandemic, demand for single-use medical instruments and Personal protective equipment (PPE) is projected to spur.

Market Trends, Drivers, Restraints, and Opportunities

  • Rising number of healthcare devices, primarily in hospitals is expected to boost the market growth in the coming years.
  • Growing prevalence of chronic disease conditions is one of the key factors driving the market growth
  • Increasing geriatric population globally is projected to boost the market expansion during the forecast period.
  • Lack of reimbursement options for medical device outsourcing is expected to hamper the market growth during the forecast period.
  • Development of technologically advanced solutions for supply and chain monitoring is projected to create significant growth opportunities for the market in the near future.

Scope of the Report

The report on the global medical device outsourcing market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Medical Device Outsourcing Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Applications (Diabetes Care [Class III, Class II, and Class I], Endoscopy [Class III, Class II, and Class I], Dental [Class III, Class II, and Class I], Drug Delivery [Class III, Class II, and Class I], General & Plastic Surgery [Class III, Class II, and Class I], Ophthalmic [Class III, Class II, and Class I], IVD [Class III, Class II, and Class I], Orthopedic [Class III, Class II, and Class I], Diagnostic Imaging [Class III, Class II, and Class I], Cardiology [Class III, Class II, and Class I], and Others [Class III, Class II, and Class I]) and Services (Product Testing & Sterilization Services, Product Implementation Services, Product Upgrade Services, Product Maintenance Services, Quality Assurance Services, Regulatory Affairs Services [Regulatory Writing & Publishing, Clinical Trials Applications & Product Registrations, Legal Representation, and Others], Contract Manufacturing [Component Manufacturing, Assembly Manufacturing, Accessories Manufacturing, and Device Manufacturing], and Product Design & Development Services [Machining, Molding, Designing & Engineering, and Packaging])

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Toxikon, Inc.; North American Science Associates, Inc.; Charles River Laboratories International, Inc.; PAREXEL International Corp.; SGS S.A.; IQVIA; Eurofins Scientific SE; Pace Analytical Services, LLC; Intertek Group plc; and WuXi AppTec, Inc.

Market Segment Insights

Cardiology segment to grow at a rapid pace

Based on applications, the global medical device outsourcing market is divided into diabetes care, endoscopy, dental, drug delivery, general & plastic surgery, ophthalmic, IVD, orthopedic, diagnostic imaging, cardiology, and others. These segments are further segmented into class III, class II, and class I. The cardiology segment is expected to grow at a rapid pace during the forecast period owing to the result of the high prevalence of associated conditions and growing demand for cardiovascular devices. However, the general & plastic surgery segment is anticipated to hold a key share of the market in the coming years due to the availability of skilled outsourcing organizations that comply to regulatory regulations as well as the growing demand for cosmetic surgeries.

Contract manufacturing segment to expand at a considerable CAGR

On the basis of services, the market is segregated into product testing & sterilization services, product implementation services, product upgrade services, product maintenance services, quality assurance services, regulatory affairs services, contract manufacturing, and product design & development services. The regulatory affairs services segment is further divided into regulatory writing & publishing, clinical trials applications & product registrations, legal representation, and others. The contract manufacturing segment is sub-categorized as component manufacturing, assembly manufacturing, accessories manufacturing, and device manufacturing, while the product design & development services segment consists of machining, molding, designing & engineering, and packaging. The contract manufacturing segment is projected to expand at a considerable CAGR during the forecast period attributed to growing focus on decreasing the cost of production. On the other hand, the quality assurance services segment is anticipated to account for a major market share during the forecast period due to the maintenance of products, implementation, and development intended for use by medical device manufacturers and suppliers.

Medical Device Outsourcing Market services

North America to constitute a key market share

In terms of regions, the global medical device outsourcing market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to the established manufacturing hubs for consistent, high-end, and complex medical devices in the region. However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period attributed to the easy availability of skilled human resources across the region.

Medical Device Outsourcing Market region

Segments

Segments Covered in the Report

The global medical device outsourcing market has been segmented on the basis of

Applications

  • Diabetes Care

    • Class III
    • Class II
    • Class I
  • Endoscopy
  • Dental
    • Class III
    • Class II
    • Class I
  • Drug Delivery
    • Class III
    • Class II
    • Class I
  • General & Plastic Surgery
    • Class III
    • Class II
    • Class I
  • Ophthalmic
    • Class III
    • Class II
    • Class I
  • IVD
    • Class III
    • Class II
    • Class I
  • Orthopedic
    • Class III
    • Class II
    • Class I
  • Diagnostic Imaging
    • Class III
    • Class II
    • Class I
  • Cardiology
    • Class III
    • Class II
    • Class I
  • Others
    • Class III
    • Class II
    • Class I

Services

  • Product Testing & Sterilization Services
  • Product Implementation Services
  • Product Upgrade Services
  • Product Maintenance Services
  • Quality Assurance Services
  • Regulatory Affairs Services
    • Regulatory Writing & Publishing
    • Clinical Trials Applications & Product Registrations
    • Legal Representation
    • Others
  • Contract Manufacturing
    • Component Manufacturing
    • Assembly Manufacturing
    • Accessories Manufacturing
    • Device Manufacturing
  • Product Design & Development Services
    • Machining
    • Molding
    • Designing & Engineering
    • Packaging

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Toxikon, Inc.
  • North American Science Associates, Inc.
  • Charles River Laboratories International, Inc.
  • PAREXEL International Corp.
  • SGS S.A.
  • IQVIA
  • Eurofins Scientific SE
  • Pace Analytical Services, LLC
  • Intertek Group plc
  • WuXi AppTec, Inc.

Competitive Landscape

Key players competing in the global medical device outsourcing market are Toxikon, Inc.; North American Science Associates, Inc.; Charles River Laboratories International, Inc.; PAREXEL International Corp.; SGS S.A.; IQVIA; Eurofins Scientific SE; Pace Analytical Services, LLC; Intertek Group plc; and WuXi AppTec, Inc. As part of their efforts to expand their client base and acquire a competitive advantage over competitors, manufacturers operating in the market have adopted various strategic initiatives, such as partnerships, collaborations, and mergers & acquisitions. Moreover, companies are focusing on investment in R&D for development and launching of new products to maintain their competitive positions in the market.

Medical Device Outsourcing Market keyplayers

For instance, in April 2020, Eurofins Scientific SE announced that its laboratories in the United States, Asia, and Europe are offering a global service offer for verification, testing, and regulatory services focused on clinical gowns, gloves, and face masks, as well as respiratory protective devices and equipment, their components, and materials, to meet the rising demand due to the pandemic. In January 2021, SGS S.A. was granted with permission from the U.S. FDA for third-party 510(k) premarket submissions for medical devices, which is provided as a service.
 

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. medical device outsourcing Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. medical device outsourcing Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. medical device outsourcing Market - Supply Chain
  4.5. Global medical device outsourcing Market Forecast
     4.5.1. medical device outsourcing Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. medical device outsourcing Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. medical device outsourcing Market Absolute $ Opportunity
5. Global medical device outsourcing Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. medical device outsourcing Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global medical device outsourcing Demand Share Forecast, 2019-2026
6. North America medical device outsourcing Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America medical device outsourcing Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America medical device outsourcing Demand Share Forecast, 2019-2026
7. Latin America medical device outsourcing Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America medical device outsourcing Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America medical device outsourcing Demand Share Forecast, 2019-2026
8. Europe medical device outsourcing Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe medical device outsourcing Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe medical device outsourcing Demand Share Forecast, 2019-2026
9. Asia Pacific medical device outsourcing Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific medical device outsourcing Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific medical device outsourcing Demand Share Forecast, 2019-2026
10. Middle East & Africa medical device outsourcing Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa medical device outsourcing Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa medical device outsourcing Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global medical device outsourcing Market: Market Share Analysis
  11.2. medical device outsourcing Distributors and Customers
  11.3. medical device outsourcing Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Toxikon, Inc.
     11.4.2. North American Science Associates, Inc.
     11.4.3. Charles River Laboratories International, Inc.
     11.4.4. PAREXEL International Corp.
     11.4.5. SGS S.A.
     11.4.6. IQVIA
     11.4.7. Eurofins Scientific SE
     11.4.8.

Segments Covered in the Report

The global medical device outsourcing market has been segmented on the basis of

Applications

  • Diabetes Care

    • Class III
    • Class II
    • Class I
  • Endoscopy
  • Dental
    • Class III
    • Class II
    • Class I
  • Drug Delivery
    • Class III
    • Class II
    • Class I
  • General & Plastic Surgery
    • Class III
    • Class II
    • Class I
  • Ophthalmic
    • Class III
    • Class II
    • Class I
  • IVD
    • Class III
    • Class II
    • Class I
  • Orthopedic
    • Class III
    • Class II
    • Class I
  • Diagnostic Imaging
    • Class III
    • Class II
    • Class I
  • Cardiology
    • Class III
    • Class II
    • Class I
  • Others
    • Class III
    • Class II
    • Class I

Services

  • Product Testing & Sterilization Services
  • Product Implementation Services
  • Product Upgrade Services
  • Product Maintenance Services
  • Quality Assurance Services
  • Regulatory Affairs Services
    • Regulatory Writing & Publishing
    • Clinical Trials Applications & Product Registrations
    • Legal Representation
    • Others
  • Contract Manufacturing
    • Component Manufacturing
    • Assembly Manufacturing
    • Accessories Manufacturing
    • Device Manufacturing
  • Product Design & Development Services
    • Machining
    • Molding
    • Designing & Engineering
    • Packaging

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Toxikon, Inc.
  • North American Science Associates, Inc.
  • Charles River Laboratories International, Inc.
  • PAREXEL International Corp.
  • SGS S.A.
  • IQVIA
  • Eurofins Scientific SE
  • Pace Analytical Services, LLC
  • Intertek Group plc
  • WuXi AppTec, Inc.

Key players competing in the global medical device outsourcing market are Toxikon, Inc.; North American Science Associates, Inc.; Charles River Laboratories International, Inc.; PAREXEL International Corp.; SGS S.A.; IQVIA; Eurofins Scientific SE; Pace Analytical Services, LLC; Intertek Group plc; and WuXi AppTec, Inc. As part of their efforts to expand their client base and acquire a competitive advantage over competitors, manufacturers operating in the market have adopted various strategic initiatives, such as partnerships, collaborations, and mergers & acquisitions. Moreover, companies are focusing on investment in R&D for development and launching of new products to maintain their competitive positions in the market.

Medical Device Outsourcing Market keyplayers

For instance, in April 2020, Eurofins Scientific SE announced that its laboratories in the United States, Asia, and Europe are offering a global service offer for verification, testing, and regulatory services focused on clinical gowns, gloves, and face masks, as well as respiratory protective devices and equipment, their components, and materials, to meet the rising demand due to the pandemic. In January 2021, SGS S.A. was granted with permission from the U.S. FDA for third-party 510(k) premarket submissions for medical devices, which is provided as a service.
 

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