Medical Device Outsourcing Market Share To Reach USD 208.36 Billion By 2026 – Reports and Data

Increasing demand for medical devices combined with rising price competition and the requirement to reduce cost, high prevalence of chronic disorders, availability of low-cost labor and comparative less expensive infrastructure cost are key factors contributing to high CAGR during the forecast period.

According to the current analysis of Reports and Data, the global medical device outsourcing market was valued at USD 96.64 Billion in 2018 and is expected to reach USD 208.36 Billion by the year 2026, at a CAGR of 10.1%. Medical devices outsourcing is the process of contracting a third party for business purposes, which includes manufacturing, product designing, prototyping, and supply chain management. This process enables the original equipment manufacturers to reduce the labor cost and production time-scale, thus increasing its demand in the market. Outsourcing mainly allows companies to focus on core activities, which results in industrial development. However, the threat of loss of confidential information is expected to dampen industrial growth.

Regulatory bodies emphasize on the quality of the healthcare devices provided to the public, encouraging industry players to offer various services like regulatory consulting. The budget scrutiny in developed countries, pricing pressure, and changes in reimbursement schemes are some of the major factors which help to increase the adoption of cost containment measures by the Original Equipment Manufacturers and thus is expected to boost this industryto emerging countries like India and China. More focus on research and development is one of the key growth models that companies receiving outsourced services in the global medical devices outsourcing industry are employing for business development. The threat of loss of confidential information and inadequate reimbursement policies can be a restraint to this industry.

 Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/2211

Further key findings from the report suggest

• In August 2016, Cirtec Medical completed the acquisition of Stellar Technologies, Inc., a healthcare machining and component manufacturer, based in Minnesota, the U.S. The acquisition was made to enhance the technology, specifically for the customers in the high-growth neuromodulation industry.
• The major factor leading to the growth of the medical device outsourcing industry is the need to curb the rising cost of medical equipment and high-quality products that clears the stringent regulatory requirements.
• The geriatric population is more prone to chronic and age-related diseases as well as musculoskeletal injuries, hence the considerable increase in geriatric population is creating demand for medical device outsourcing products.
• The medical device outsourcing market has shown growth by Class II equipment that primarily includes non-invasive and include x-ray machines, PACS, infusion pumps, powered wheelchairs, surgical needles, and suture material, surgical drapes, and acupuncture needles.
• The landscape of manufacturing has rapidly changed over the past few years, as major OEMs have combined complementary skills to gain greater market share. OEMs are choosing to outsource technical and production services to trusted partners to reduce their manufacturing footprint. Outsourcing the production of various allows manufacturers to be more dynamic and cost-effective in their production.
• Contract manufacturing led the service segment in 2018 owing to the growing trend of outsourcing by OEM to third-party manufacturers, especially in emerging countries.
• Based on service, Quality assurance is projected to exhibit the fastest CAGR of 12.5% over the forecast period.
• In the long‐term, firms expect growth opportunities to be driven by aging populations around the world. This fundamental change in population demographics will increase the need for healthcare and healthcare-related procedures, as people are living longer and are demanding a higher quality of life. Furthermore, although overall growth in more established markets in the U.S. and Europe has slowed, the emerging ‘BRIC’ countries of Brazil, Russia, India and China, and their growing numbers of middle‐class, are now ramping up demand for med‐tech products and services. All of these factors are contributing to a positive outlook for the medical device outsourcing industry.
• Asia Pacific region is showing the fastest growing segment, which is expected to reach 42.8 billion in 2026 with CAGR of 9.9% due to lower cost and increased availability of skilled human resources.
• Product testing and sterilization are valued at 11.9 billion in 2018 and expected to reach 24.7 billion in 2026.
• Some of the key companies present in the market are Toxikon Inc.; Eurofins Scientific; SGS SA; MAPI; Freyr Solutions; Integer; Celestica; Pace Analytical Services; Jabil; Wuxi Apptec; PPD; Intertek Group; Flextronics; Tecomet; and Sanmina.

Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/2211

For the purpose of this report, Reports and Data has segmented the medical device outsourcing market on the basis of product, applications, services and region:

Product (Revenue, USD Million; 2016–2026)

• Finished goods
• Electronics
• Raw Materials

Devices (Revenue, USD Million; 2016–2026)

• Class I Devices
• Class II Devices
• Class III Devices

Application (Revenue, USD Million; 2016–2026)

• Cardiology
• Diagnostic imaging
• Orthopedic
• IVD
• Ophthalmic
• General and plastic surgery
• Drug delivery
• Dental
• Endoscopy
• Diabetes care
• Others

Services (Revenue, USD Million; 2016–2026)

• Contract manufacturing
• Quality Assurance
• Regulatory Affairs Services
• Product Design and Development Services
• Product Testing & Sterilization Services
• Product Implementation Services
• Product Upgrade Services
• Product Maintenance Services

Regional Outlook (Revenue in USD Million; 2016–2026)

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific
• LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA

Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/2211

Key Questions Answered by the Report:

• What are the key growth driving and restraining factors of the Medical Device Outsourcing market?
• What are key opportunities and growth prospects of the Medical Device Outsourcing industry is expected to witness over the forecast period?
• Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
• Which region is expected to dominate the market growth over the forecast period?
• Which segments are expected to register lucrative growth over the forecast period?
• What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?

Thank you for reading our report. Please connect with us to know more about the report or for requesting customization of the report. Our team will ensure the report is best suited to meet your requirements.

Explore Reports and Data’s Prime Analysis of the global Healthcare & Pharmaceutical Industry:

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

Contact Us:

John W

Head of Business Development

Reports and Data | Web: www.reportsanddata.com

Direct Line: +1-212-710-1370

E-mail: sales@reportsanddata.com

Read Full Press Release: https://www.reportsanddata.com/press-release/global-medical-device-outsourcing-market

The post Medical Device Outsourcing Market Share To Reach USD 208.36 Billion By 2026 – Reports and Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.

Increasing demand for medical devices combined with rising price competition and the requirement to reduce cost, high prevalence of chronic disorders, availability of low-cost labor and comparative less expensive infrastructure cost are key factors contributing to high CAGR during the forecast period.

According to the current analysis of Reports and Data, the global medical device outsourcing market was valued at USD 96.64 Billion in 2018 and is expected to reach USD 208.36 Billion by the year 2026, at a CAGR of 10.1%. Medical devices outsourcing is the process of contracting a third party for business purposes, which includes manufacturing, product designing, prototyping, and supply chain management. This process enables the original equipment manufacturers to reduce the labor cost and production time-scale, thus increasing its demand in the market. Outsourcing mainly allows companies to focus on core activities, which results in industrial development. However, the threat of loss of confidential information is expected to dampen industrial growth.

Regulatory bodies emphasize on the quality of the healthcare devices provided to the public, encouraging industry players to offer various services like regulatory consulting. The budget scrutiny in developed countries, pricing pressure, and changes in reimbursement schemes are some of the major factors which help to increase the adoption of cost containment measures by the Original Equipment Manufacturers and thus is expected to boost this industryto emerging countries like India and China. More focus on research and development is one of the key growth models that companies receiving outsourced services in the global medical devices outsourcing industry are employing for business development. The threat of loss of confidential information and inadequate reimbursement policies can be a restraint to this industry.

 Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/2211

Further key findings from the report suggest

• In August 2016, Cirtec Medical completed the acquisition of Stellar Technologies, Inc., a healthcare machining and component manufacturer, based in Minnesota, the U.S. The acquisition was made to enhance the technology, specifically for the customers in the high-growth neuromodulation industry.
• The major factor leading to the growth of the medical device outsourcing industry is the need to curb the rising cost of medical equipment and high-quality products that clears the stringent regulatory requirements.
• The geriatric population is more prone to chronic and age-related diseases as well as musculoskeletal injuries, hence the considerable increase in geriatric population is creating demand for medical device outsourcing products.
• The medical device outsourcing market has shown growth by Class II equipment that primarily includes non-invasive and include x-ray machines, PACS, infusion pumps, powered wheelchairs, surgical needles, and suture material, surgical drapes, and acupuncture needles.
• The landscape of manufacturing has rapidly changed over the past few years, as major OEMs have combined complementary skills to gain greater market share. OEMs are choosing to outsource technical and production services to trusted partners to reduce their manufacturing footprint. Outsourcing the production of various allows manufacturers to be more dynamic and cost-effective in their production.
• Contract manufacturing led the service segment in 2018 owing to the growing trend of outsourcing by OEM to third-party manufacturers, especially in emerging countries.
• Based on service, Quality assurance is projected to exhibit the fastest CAGR of 12.5% over the forecast period.
• In the long‐term, firms expect growth opportunities to be driven by aging populations around the world. This fundamental change in population demographics will increase the need for healthcare and healthcare-related procedures, as people are living longer and are demanding a higher quality of life. Furthermore, although overall growth in more established markets in the U.S. and Europe has slowed, the emerging ‘BRIC’ countries of Brazil, Russia, India and China, and their growing numbers of middle‐class, are now ramping up demand for med‐tech products and services. All of these factors are contributing to a positive outlook for the medical device outsourcing industry.
• Asia Pacific region is showing the fastest growing segment, which is expected to reach 42.8 billion in 2026 with CAGR of 9.9% due to lower cost and increased availability of skilled human resources.
• Product testing and sterilization are valued at 11.9 billion in 2018 and expected to reach 24.7 billion in 2026.
• Some of the key companies present in the market are Toxikon Inc.; Eurofins Scientific; SGS SA; MAPI; Freyr Solutions; Integer; Celestica; Pace Analytical Services; Jabil; Wuxi Apptec; PPD; Intertek Group; Flextronics; Tecomet; and Sanmina.

Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/2211

For the purpose of this report, Reports and Data has segmented the medical device outsourcing market on the basis of product, applications, services and region:

Product (Revenue, USD Million; 2016–2026)

• Finished goods
• Electronics
• Raw Materials

Devices (Revenue, USD Million; 2016–2026)

• Class I Devices
• Class II Devices
• Class III Devices

Application (Revenue, USD Million; 2016–2026)

• Cardiology
• Diagnostic imaging
• Orthopedic
• IVD
• Ophthalmic
• General and plastic surgery
• Drug delivery
• Dental
• Endoscopy
• Diabetes care
• Others

Services (Revenue, USD Million; 2016–2026)

• Contract manufacturing
• Quality Assurance
• Regulatory Affairs Services
• Product Design and Development Services
• Product Testing & Sterilization Services
• Product Implementation Services
• Product Upgrade Services
• Product Maintenance Services

Regional Outlook (Revenue in USD Million; 2016–2026)

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific
• LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA

Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/2211

Key Questions Answered by the Report:

• What are the key growth driving and restraining factors of the Medical Device Outsourcing market?
• What are key opportunities and growth prospects of the Medical Device Outsourcing industry is expected to witness over the forecast period?
• Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
• Which region is expected to dominate the market growth over the forecast period?
• Which segments are expected to register lucrative growth over the forecast period?
• What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?

Thank you for reading our report. Please connect with us to know more about the report or for requesting customization of the report. Our team will ensure the report is best suited to meet your requirements.

Explore Reports and Data’s Prime Analysis of the global Healthcare & Pharmaceutical Industry:

Personal Mobility Device Market Analysis, Product Type (Wheel Chairs, Scooters, Hand Bikes, Walking Aids), Medical Furniture and Bathroom Safety Products, End-Use (Hospitals and Clinics, Ambulatory Surgical Centers, Home Care setting), Forecast to 2017–2027

Vein Illuminator Market By Technology (Transillumination, Infrared Technology, and Ultrasound), By End-Users (Hospitals, Rehabilitation Centers, Blood Donation Camps, And Academic Institutions)-Forecasts To 2026

Neuroprosthetics Market Size, Share & Analysis, By Type, By Technology (Deep Brain stimulation, Vagus Nerve stimulation, Spinal Cord stimulation, Sacral Nerve Stimulation, Transcranial Magnetic Stimulation), By Application, Forecasts to 2026

Ultrasound Market By Technology, By Type, By Applications, And By End Users, And Segment Forecasts, 2016-2027

Hysteroscope Market Size, Share & Analysis, By Type (Flexible, Rigid), By Application (Myomectomy, Polypectomy, Endometrial Ablation, Others), By End-User (Gynecology Clinics, Ambulatory Surgical Centers, Hospitals, Others), Segment Forecasts To 2027

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

Contact Us:

John W

Head of Business Development

Reports and Data | Web: www.reportsanddata.com

Direct Line: +1-212-710-1370

E-mail: sales@reportsanddata.com

Read Full Press Release: https://www.reportsanddata.com/press-release/global-medical-device-outsourcing-market

The post Medical Device Outsourcing Market Share To Reach USD 208.36 Billion By 2026 – Reports and Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.