Global Medical Device Outsourcing Market Report 2021: Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecast, 2019-2029 – ResearchAndMarkets.com
DUBLIN – (COMMERCIAL THREAD)–The “Medical Device Outsourcing Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecast, 2021 to 2029” the report was added to ResearchAndMarkets.com offer.
The global medical device outsourcing market was valued at US $ 51.66 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 10.6% during the forecast period 2021 to 2029.
Outsourcing of medical device manufacturing has become a ubiquitous aspect of the medical device industry, with each company choosing outsourcing over in-house manufacturing. This has led companies to focus on their core competencies and the development of new products. The trend towards the outsourcing of R&D on medical devices is also increasing.
Outsourcing has become the preferred option for companies because it reduces costs, speeds up product entry and reduces business risks. Cost reduction is the result of improved organizational efficiency, better access to advanced technologies and a shorter product development cycle.
In addition, regulatory compliance outsourcing is rapidly gaining momentum due to the ongoing partnerships and collaborations between medical device manufacturers and providers of regulatory compliance outsourcing services. This helps manufacturing companies to approve and bring products to market quickly at a reduced cost.
Subcontractors in North America, Europe and Japan work in accordance with international quality management system standards. However, service providers in Asia Pacific are rapidly improving quality standards to match international standards.
The contract manufacturing segment accounts for the largest share by type of service
The medical device outsourcing market is segmented into quality assurance, regulatory affairs, product design and development, product testing and sterilization, product upgrade services, product maintenance, and contract manufacturing.
In 2020, contract manufacturing held the largest share of the global medical device outsourcing market and is expected to be the dominant marker during the forecast period. The strong demand for outsourcing of manufacturing processes to reduce OEM production costs and focus on core competencies is the main driver of the market.
Scope of the report by segments
The medical device outsourcing market is studied to understand current and future trends and dynamics. The scope of the study includes the market size and forecast for all the considered segments studied in the report for the period from 2019 to 2029, as well as the compound annual growth rate (CAGR) for the forecast period from 2021 to 2029, with 2020 being considered the base year.
The major players currently engaged in the medical device outsourcing market are Covance, Inc., Pharmaceutical Product Development, LLC. (PPD), Charles River Laboratories International, Inc., Laboratory Corporation of America, ICON plc., InVentiv Health, Parexel International, Eurofins Scientific, Toxikon, Inc. and Pace Analytical Services, LLC.
Main topics covered:
Chapter 1. Preface
Chapter 2. Executive summary
Chapter 3. Medical Device Outsourcing (MDO): Market Dynamics and Outlook
3.1. Market Snapshot
3.5. Attractive investment proposition, by geography, 2020
3.6. Competitive Analysis: Global MDO Market, By Key Players, 2020
Chapter 4. Global Medical Device Outsourcing (MDO) Market, by Service Type, 2016-2029 (USD Billion)
4.2. Quality assurance
4.3. Regulatory Affairs Services
4.4. Product design and development
4.5. Product testing and sterilization
4.6. Product upgrade services
4.7. Product maintenance services
4.8. Contract manufacturing
Chapter 5. Global MDO Market, by Application, 2016-2029 (Billion US $)
5.3. Diagnostic imaging
5.5. Diagnostic test systems
5.7. Medication administration
5.8. General and plastic surgery
5.11. Diabetic treatments
Chapter 6. Global Medical Device Outsourcing (MDO) Market, By Geography, 2019-2029 (USD Billion)
Chapter 7. Company Profiles
7.1. activity Descrition
7.2. Financial information (subject to data availability)
7.3. Product portfolio
7.4. News coverage
Pharmaceutical Development LLC. (PPD)
Charles River International Laboratories Inc.
Laboratory Society of America
Pace Analytical Services LLC.
For more information on this report, visit https://www.researchandmarkets.com/r/9crs4t