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Medical Device Contract Manufacturing Market Size Hit US$ 97.5 Bn 2027

Acumen Research and Consulting, a global provider of market research studies, in a latest published report titled "Medical Device Contract Manufacturing Market, Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027"

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Acumen Research and Consulting

May 21, 2020, 09:30 ET

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LOS ANGELES, May 21, 2020 /PRNewswire/ -- The global medical device contract manufacturing market size is expected to hit around US$ 97.5 Mn by 2027.

Acumen Research and Consulting predict that the global medical device contract manufacturing market is anticipated to grow at a CAGR of around 7% in terms of revenue during the forecast period 2020 to 2027.

Get Free Report Sample Pages for Better [email protected] https://www.acumenresearchandconsulting.com/request-sample/1851

Contract manufacturing is an outsourcing technique in which a company produces a larger product in whole or in a single part. Medical devices Original Equipment Manufacturer (OEMs) are companies who typically focus on a certain field of expertise such as molding, assembly or R&D. The production of medical devices is a method through which a manufacturer provides medical equipment or medical device parts which can subsequent be purchased by another organization. The contract manufacturers of medical devices also sometimes specialize in a specific process or function and can provide experience through regular manufacturing practice. The resource to suppliers, customers and inventors of medical devices provide definition of drug and product development, identification and approval of procedures, producing or highly specialized models in manufacture, packaging. They can even handle the distribution and supply to the end customer.

North America hold large market share in the global medical device contract manufacturing market and is likely to continue its dominance during forecast period. This is due to factors such as the US, which accounts for about 43% of the global medical devices market, with the 10 biggest original medical device (OMD) suppliers, and is expected to further fuel interest in medical equipment during forecast period in the region. In addition, technological developments and the rise of mobile technology will accelerate market growth in the region, as will the use of IoT and Industry 4.0.

Market dynamics

Increasing adoption of advanced technology in the medical device market and growing geriatric population are the major factor driving the growth of global medical device contract manufacturing market. Low returns on investment has contributed to the wide growth of the global contract manufacturing market due to the rising costs of in-house production, the rising disease prevalence, life expectancy and the geriatric population. However, the factors that may restraint the growth of the market are stringent government rules and high initial cost of medical devices.

View Detail Information with Complete [email protected] https://www.acumenresearchandconsulting.com/medical-device-contract-manufacturing-market

The product manufacturing and assembly services segment is expected to grow at the highest the CAGR during the forecast period. OEMs, medical equipment and pharmaceutical companies, which running and supplying fully integrated medical instruments, such as pen needles, inhalers, automobile injectors and pre-full-filled syringes, primarily need these facilities. The other factors contributing growth to the global market is the growing prevalence of targeted therapies, increasing number of regulatory approvals for single-use medical devices, rising incidence of anaphylaxis, and the availability of the generic versions of auto injectors. In addition, the usage of finished product assembly facilities is expected to increase.

There are some major players associated in the medical device contract manufacturing market. Few of the main players actually dominate the market in terms of market share. And some prominent players are vigorously acquiring their market positions with the other companies worldwide. Some of the prominent players such as Benchmark Electronics, Inc., Nemera Development SA, FLEX LTD., Jabil Inc., West Pharmaceutical Services, Inc., Phillips-Medisize Corporation Integer Holdings Corporation, Nordson Corporation, and others.

Browse More Related [email protected] https://www.acumenresearchandconsulting.com/industry-categories/healthcare-and-pharmaceuticals

Recent Developments

  • In April 2019, with a new Korean office — Western Pharmaceutical Services Korea Ltd., West Pharmaceutical Services, Inc. has extended its presence in the Asia Pacific region.
  • In March 2019, A new manufacturing facility in France has acquired by Nemera Technology SA in order to manufacture inductible products Novo Nordisk.
  • In October 2018, Phillips-Medisize Corporation has acquired InterSystem Corp. to build a linked wellness network for the third generation.
  • In July 2018, Jabil Inc. has acquired True-Tech Corporation an aerospace, semiconductor and machined component specialist supplier for US$ 95.9 Mn.

Market Segmentation

By Product

  • Diagnostic and Monitoring Devices
  • Therapeutic Devices
  • Drug Delivery Devices
  • Other Devices

By Service

  • Product Design and Development Services
  • Product Manufacturing and Assembly Services
  • Quality Services
  • Regulatory Consulting Services
  • Packaging & Sterilization Services

By Device Type

  • Electronic MDCM
  • Non-Electronic MDCM

By Application

  • Cardiology
  • Diagnostic Imaging
  • Orthopedic
  • Endoscopy
  • Dental
  • Diabetes Care
  • Wound Management
  • Nephrology
  • In-Vitro Diagnostics
  • Respiratory
  • Other Applications

By Geography

North America

  • U.S.
  • Canada

Europe

  • UK
  • Germany
  • France
  • Spain
  • Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East & Africa

  • GCC
  • South Africa
  • Rest of Middle East & Africa

Request for [email protected] https://www.acumenresearchandconsulting.com/request-customization/1851

The report is readily available and can be dispatched immediately after payment confirmation.

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If you would like to place an order or have any questions, please feel free to contact at [email protected] | +1-407-915-4157 OR +1-408-900-9135

About Us

Acumen Research and Consulting (ARC) is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact based decisions on technology purchases and develop firm growth strategies to sustain market competition. Among the industries served include aerospace and defense, information and communication technology (ICT), semiconductor and electronics, healthcare and pharmaceuticals, chemicals, advanced materials, banking, finance services and insurance (BFSI), and others.

Our collective industry experience of over 100 years has helped us to offer appropriate market information and our global reach and regional connects ensures appropriate insights into regional markets to guarantee apt delivery of information.

Our regional market intelligence helps our clients to identify potential opportunities and develop growth strategies across regions and countries. Our services are geared towards offering best market research to our clients.

Contact Us:
Mr. Frank Wilson
Acumen Research and Consulting
17890, Castleton St #218, Rowland Heights, CA 91748 United States
Tel: +1-407-915-4157 OR +1-408-900-9135
Email: [email protected]

Website: https://www.acumenresearchandconsulting.com

SOURCE Acumen Research and Consulting

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