Growing focus of OEMs on reducing medical device manufacturing costs will drive growth -Technavio

NEW YORK, Dec. 19, 2022 /PRNewswire/ —

Medical device manufacturing outsourcing market insights –

• Vendors: 15+, Including Benchmark Electronics Inc., Cadence Inc., Celestica Inc., Cirtec Medical, Eurofins Scientific SE, Flex Ltd., Gerresheimer AG, Heraeus Holding GmbH, Integer Holdings Corp., Jabil Inc., Kimball Electronics Inc., NN Inc., Nortech Systems Inc., Plexus Corp., Sanmina Corp., Tata Sons Pvt. Ltd., TE Connectivity Ltd., Tecomet Inc., TRICOR Systems Inc., and West Pharmaceutical Services Inc. among others

• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors

• Segments: Product (ems, raw materials, and finished goods), medical device regulatory classification (class II, class III, and class I), and geography (North America, Asia, Europe, and Rest of World (ROW))

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The medical device manufacturing outsourcing market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

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In 2017, the medical device manufacturing outsourcing market was valued at USD 50,500.43 million. From a regional perspective, North America held the largest market share, valued at USD 18,647.79 million. The medical device manufacturing outsourcing market size is estimated to grow by USD 46,241.15 million from 2022 to 2027 at a CAGR of 10.85% according to Technavio.

Medical device manufacturing outsourcing market – Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria

• Adoption rates

• Adoption lifecycle

• Drivers of price sensitivity

• For highlights on customer landscape analysis, download a sample!

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Global medical device manufacturing outsourcing market – Vendor insights

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market’s competitive landscape and offers information on several market vendors including –

• Benchmark Electronics Inc.: The company offers medical device manufacturing outsourcing for the point of care medical device industry.

• Celestica Inc.: The company offers medical device manufacturing outsourcing for Patient monitoring devices, Renal dialysis, and Dental radiology.

• Cirtec Medical: The company offers medical device manufacturing outsourcing for active implantable medical devices.

Global medical device manufacturing outsourcing market – Market dynamics

Major drivers:

• Growing focus of OEMs on reducing medical device manufacturing costs

• Growing complexities in product design and development

• Emerging countries as a preferred outsourcing destination for medical device manufacturing

KEY challenges:

• Stringent regulatory environment

• Intense competition in the market

• Delay in contractual obligations and upgrading new technologies

Drivers, & Challenges have an impact on market dynamics and can impact businesses. Find some insights from a sample report!

What are the key data covered in this medical device manufacturing outsourcing market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the medical device manufacturing outsourcing market between 2023 and 2027

• Precise estimation of the size of the medical device manufacturing outsourcing market size and its contribution to the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the medical device manufacturing outsourcing market across North America, Asia, Europe, and Rest of World (ROW)

• A thorough analysis of the market’s competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of medical device manufacturing outsourcing market vendors

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by Medical Device Regulatory Classification

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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SOURCE Technavio