Medical Device Outsourcing 2016-2023: Global Market Analysis by Product, Device Type, Application, Service and Geography
DUBLIN, July 4, 2018 /PRNewswire/ --
The "Medical Device Outsourcing Market by Product, by Device Type, by Application, by Service, by Geography - Global Market Size, Share, Development, Growth and Demand Forecast, 2016-2023" report has been added to ResearchAndMarkets.com's offering.
Some of the prominent factors driving the growth of the market include increasing regulatory adherence, growing aging population and increasing prevalence of chronic diseases.
The medical device outsourcing market is categorized as electronics, raw materials/components, and finished goods, on the basis of products offered. Finished goods such as disposable devices and surgical equipment/instruments are expected to witness fastest growth in demand, with the CAGR of 10.1% during the forecast period. Medical device manufacturers are actively outsourcing the production of their finished goods especially with low product differentiations to reduce the overall cost of production and marketing.
Among the different applications of medical device outsourcing, general medical devices contributed largest revenue in the global market, with a 25.9% share in 2016. General medical devices such as drug delivery devices, surgical devices, diagnostic consumables, and inhalation drug delivery devices are increasingly being outsourced by the medical device industry players, since these devices have a high market demand from healthcare providers.
The APAC medical device outsourcing market is expected to witness the fastest growth in demand and is predicted to grow at a CAGR of around 10.9% during the forecast period, due to the low cost of labor and comparatively less expensive infrastructure cost as compared to other developed economies of the world. The growth of the APAC market is also supplemented by the presence of a large patient pool suffering from chronic disorders and increase in the need for affordable medical devices.
Globally, key players in the medical device outsourcing market are focusing on business expansions and acquisitions to gain a larger market share. For instance, in April 2016, TE Connectivity Ltd, a major player in connectivity and sensors, announced the completion of its previously announced acquisition of the Creganna Medical Group (Creganna). Creganna designs and manufactures minimally invasive delivery and access devices serving medical device original equipment manufacturers (OEMs).
Some of the major players in the global medical device outsourcing market include Cardinal Health, Inc., Integer Holdings Corporation, Onex Corporation, TE Connectivity Ltd., Flex Ltd., Heraeus Holding GmbH, Plexus Corp., West Pharmaceutical Services, Inc., and Sanmina Corporation.
Key Topics Covered
1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Product
1.3.2 Market Segmentation by Device Type
1.3.3 Market Segmentation by Application
1.3.4 Market Segmentation by Service
1.3.5 Market Segmentation by Geography
1.3.6 Analysis Period
1.3.7 Market Data Reporting Unit
1.3.7.1 Value
1.4 Key Stakeholders
2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 by region
2.2.1.2 by industry participant
2.2.1.3 by company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
3. Executive Summary
4. Introduction
4.1 Definition of Market Segments
4.1.1 by Product
4.1.1.1 Electronics
4.1.1.2 Finished goods
4.1.1.3 Raw materials/ components
4.1.2 by Device Type
4.1.2.1 Class I
4.1.2.2 Class II
4.1.2.3 Class III
4.1.3 by Application
4.1.3.1 General medical devices
4.1.3.2 Radiology
4.1.3.3 Cardiovascular
4.1.3.4 Orthopedics & spine
4.1.3.5 Others
4.1.4 by Service
4.1.4.1 Finished device manufacturing
4.1.4.2 Assembly & packaging
4.1.4.3 Prototype development
4.1.4.4 Testing & certification
4.2 Market Dynamics
4.2.1 Drivers
4.2.1.1 Increasing adherence to quality standards
4.2.1.2 Reduction in cost to market
4.2.1.3 Need for swift marketing of products
4.2.1.4 Rise in the incidence of various health disorders
4.2.1.5 Increasing geriatric population
4.2.1.6 Impact analysis of drivers on market forecast
4.2.2 Restraints
4.2.2.1 Threat of data theft
4.2.2.2 Inadequate reimbursement policies
4.2.2.3 Impact analysis of restraints on market forecast
4.2.3 Opportunities
4.2.3.1 Increased outsourcing opportunities in developed countries
5. Global Market Size and Forecast
5.1 by Product
5.2 by Device Type
5.3 by Application
5.4 by Service
5.5 by Region
6. North America Market Size and Forecast
6.1 by Product
6.2 by Device Type
6.3 by Application
6.4 by Service
6.5 by Country
7. Europe Market Size and Forecast
7.1 by Product
7.2 by Device Type
7.3 by Application
7.4 by Service
7.5 by Country
8. APAC Market Size and Forecast
8.1 by Product
8.2 by Device Type
8.3 by Application
8.4 by Service
8.5 by Country
9. LAMEA Market Size and Forecast
9.1 by Product
9.2 by Device Type
9.3 by Application
9.4 by Service
9.5 by Country
10. Competitive Landscape
10.1 Market Share Analysis of Key Players
10.1.1 Market Share Analysis of Key Players, by Product (2016)
10.1.1.1 Finished goods
10.1.1.2 Electronics
10.2 Global Strategic Developments of Key Players
10.2.1 Mergers and Acquisitions
10.2.2 Facility Expansion
11. Company Profiles
11.1 Cardinal Health, Inc.
11.1.1 Business Overview
11.1.2 Product and Service Offerings
11.2 Onex Corporation
11.2.1 Business Overview
11.2.2 Product and Service Offerings
11.3 Heraeus Holding GmbH
11.3.1 Business Overview
11.3.2 Product and Service Offerings
11.4 TE Connectivity Ltd.
11.4.1 Business Overview
11.4.2 Products and Service Offerings
11.5 Flex Ltd.
11.5.1 Business Overview
11.5.2 Product and Service Offerings
11.6 Integer Holdings Corporation
11.6.1 Business Overview
11.6.2 Product and Service Offerings
11.7 Nortech Systems Incorporated
11.7.1 Business Overview
11.7.2 Product and Service Offerings
11.8 Plexus Corp
11.8.1 Business Overview
11.8.2 Product and Service Offerings
11.9 Sanmina Corporation
11.9.1 Business Overview
11.9.2 Product and Service Offerings
11.10 West Pharmaceutical Services, Inc.
11.10.1 Business Overview
11.10.2 Product and Service Offerings
For more information about this report visit https://www.researchandmarkets.com/research/hb39ll/medical_device?w=5
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