Medical Device Outsourcing Market Size Worth $194.9 Billion by 2025: Grand View Research, Inc.

SAN FRANCISCO, November 12, 2018 /PRNewswire/ --

The global medical device outsourcing services market size is expected to reach USD 194.9 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 10.9% during the forecast period. Rising demand for medical devices coupled with growing trend of offshoring is expected to drive the market during the forecast period.

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Recent regulatory changes in Europe with respect to medical device is also expected to fuel the demand for quality assurance and regulatory affairs services, thereby contributing to the growth of the market in the region. For instance, implementation of MDR and IVDR is expected to increase the demand for QMS service providers, thereby supplementing the growth of the overall market.

Some major regulatory changes are expected to occur across the globe, which can have an impact on the medical device outsourcing market over the forecast period. Some of the major changes are:

• Amendment in ISO certification related to medical device
• Adoption of medical device single audit program
• Implementation of medical device regulation and in vitro diagnostics regulation in the EU region
• Changes in Brazil Good Manufacturing Practice (BGMP) Quality Management System (QMS) requirements
• Simplification of Korea Good Manufacturing Practice (KGMP) rules

These regulatory reforms are estimated to augment the demand for outsourcing services, thereby providing a tremendous push to the market over the forecast period. There has been a significant consolidation in the medical device outsourcing space in recent years. Large CROs are collaborating with specialized service providers to gain substantial share in the specific market segment.

Browse full research report with TOC on "Medical Device Outsourcing Market Analysis Report By Services (Quality Assurance, Contract Manufacturing), By Therapeutic Area (Cardiology, General & Plastic Surgery), And Segment Forecasts, 2018 - 2025"at: https://www.grandviewresearch.com/industry-analysis/medical-device-outsourcing-market

Further Key Findings From the Report Suggest:  

• The global contract manufacturing market is anticipated to reach 104.5 billion by 2025, expanding at a CAGR of 10.2% from 2018 to 2025
• In terms of service, quality assurance is expected to experience the fastest growth during the forecast period
• Asia Pacific is expected to dominate the medical device outsourcing market during the forecast period
• North America and Europe commanded sizeable cumulative share in 2016 owing to well established manufacturing infrastructure for high end and complex medical devices
• Some of the key companies present in the market are Integer; Tecomet; Jabil; Flextronics; Celestica; Sanmina; Plexus; SGS SA; Toxikon Inc.; Eurofins Scientific; Pace Analytical Services; Intertek Group; MAPI; PPD; Freyr Solutions; and Wuxi Apptec.

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Grand View Research has segmented the global medical device outsourcing market on the basis of service, therapeutic area, and region:  

• Medical Device Outsourcing Service Outlook (Revenue, USD Million, 2014 - 2025)  
  • Quality Assurance
  • Regulatory Affairs Services
    • Clinical trials applications and product registrations
    • Regulatory writing and publishing
    • Legal representation
    • Other
  • Product Design and Development Services
    • Designing & engineering
    • Machining
    • Molding
    • Packaging
  • Product Testing & Sterilization Services
  • Product Implementation Services
  • Product Upgrade Services
  • Product Maintenance Services
  • Contract Manufacturing
    • Accessories manufacturing
    • Assembly manufacturing
    • Component manufacturing
    • Device manufacturing
• Medical Device Outsourcing Therapeutic Area Outlook (Revenue, USD Million, 2014 - 2025)  
  • Cardiology
    • Class I
    • Class II
    • Class III
  • Diagnostic imaging
    • Class I
    • Class II
    • Class III
  • Orthopedic
    • Class I
    • Class II
    • Class III
  • IVD
    • Class I
    • Class II
    • Class III
  • Ophthalmic
    • Class I
    • Class II
    • Class III
  • General and plastic surgery
    • Class I
    • Class II
    • Class III
  • Drug delivery
    • Class I
    • Class II
    • Class III
  • Dental
    • Class I
    • Class II
    • Class III
  • Endoscopy
    • Class I
    • Class II
    • Class III
  • Diabetes care
    • Class I
    • Class II
    • Class III
  • Others
    • Class I
    • Class II
    • Class III
• Medical Device Outsourcing Regional Outlook (Revenue, USD Million, 2014 - 2025)  
  • North America
    • U.S.
    • Canada
  • Europe
    • France
    • Germany
    • U.K.
    • Italy
    • Spain
    • Netherlands
    • Switzerland
    • Sweden
  • Asia Pacific
    • Japan
    • China
    • India
    • Indonesia
    • Malaysia
    • Singapore
    • Korea
    • Thailand
    • Taiwan
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
  • Middle East and Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE
    • Israel

Explore the BI enabled intuitive market research database, Grand View Compass, by Grand View Research, Inc.

About Grand View Research  

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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