Medical Device Contract Manufacturing Market to Grow at 10.6% CAGR, Reaching at US$ 91.3 Billion Revenue by 2024 – Study and Overview

Report analyzes medical device contract manufacturing market and aims at estimating the market size and future growth potential of market based on various segments such as device type, service, class of device, and region.

Pune, India - June 4, 2019 /MarketersMedia/ —

Key factors driving growth of medical device contract manufacturing market include the overall growth of medical devices market as a whole (mainly due to rising disease prevalence, life expectancy, & geriatric population), increasing technological adoption in the medical devices industry leading to electronically integrated devices, and low returns on investment due to the rising cost of in-house manufacturing.

Access Sample Papers of “Medical Device Contract Manufacturing Market” With 241 Pages, Profiling 20 Companies and Supported with 145 Tables and 45 Figures is Now Available at http://www.rnrmarketresearch.com/contacts/request-sample?rname=2272381 .

Medical device contract manufacturing market is expected to reach USD 91.3 billion by 2024 from an estimated US$ 55 Billion in 2019, at 10.6% CAGR. The key factors driving the growth of the medical device contract manufacturing market include the overall growth of the medical devices market as a whole, mainly due to rising disease prevalence, life expectancy, and the geriatric population.

“Cardiovascular devices and endoscopy devices are projected to witness the highest growth during the forecast period.”

New study on Medical Device Contract Manufacturing Market growth largely driven by rising global disease prevalence, life expectancy, and geriatric population. Dominant share of this regional segment is mainly due to lower cost of raw material and labor compared to developed countries, increasing demand for medical devices due to improving healthcare infrastructure, adoption of technologically advanced products, & less stringent regulatory scenario compared to most developed countries.

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Top players of medical device contract manufacturing market are West Pharmaceutical Services, Inc. (US), Nipro Corporation (Japan), Integer Holdings Corporation (US) TE Connectivity, Ltd. (Switzerland), Benchmark Electronics, Inc. (US), Sanmina Corporation (US), SMC Ltd. (US), Celestica Inc. (Canada), Consort Medical PLC (UK), Plexus Corporation (US), Gerresheimer Ag (Germany), Nortech Systems, Inc. (US), Kimball Electronics Inc. (US), Nordson Corporation (US), Teleflex Incorporated (US), Tecomet, Inc. (US), Nemera (France), and Tessy Plastics, Corp. (US).

Recent Developments
• In April 2019, West Pharmaceutical Services, Inc. (US) expanded its presence in the Asia Pacific region with a new sales office in Korea—West Pharmaceutical Services Korea Ltd.
• In March 2019, Nemera Development SA (France) partnered with Novo Nordisk (Denmark) to build a new manufacturing site in France to manufacture injectable devices.
• In October 2018, Phillips-Medisize Corporation (US) signed an agreement with InterSystem Corporation (US) to develop a third-generation connected health platform.
• In July 2018, Jabil Inc. (US) acquired True-Tech Corporation (US), a manufacturer specializing in aerospace, semiconductor, and machined medical components for USD 95.9 million.

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Research Coverage:
Growth in the IVD devices market segment is in tandem with the growing number of hospitals and clinical laboratories in developing countries, increasing volume of IVD tests performed worldwide, technological advancements such as electronic integration with high-throughput capabilities, and automation and advancements in the life science research area. Technological advancements have prompted end users to overhaul or update their manufacturing systems.

Key Benefits of Buying the Report:
The report also includes a product portfolio matrix of various contract device manufacturing products available in market. Report provides a competitive analysis of key players in this market, along with their company profiles, product offerings, recent developments, & key market strategies. The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share of market.

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