Medical Device Contract Manufacturing Market

Medical Device Contract Manufacturing Market, 2019-2030

  • Lowest Price Guaranteed From USD 4,499

  • Companies Covered
    146

  • Pages
    323

  • View Count
    27362

Medical Device Contract Manufacturing Market Overview

The medical device contract manufacturing market is estimated to be worth $54.1 billion in 2019 and is expected to grow at CAGR of over 8% during the forecast period. Recent advances in data science technology solutions, such as Internet of Things, machine learning, artificial intelligence and real world evidence-based solutions, have enabled medical device developers to digitize and automate a number of product development and manufacturing processes. In 2020, the global medical devices market is estimated to reach a net worth of approximately USD 430 billion.  However, most developers lack adequate resources and the necessary expertise to manufacture medical devices and related components. Moreover, given the rapid rate of evolution, the costs associated with acquiring the necessary infrastructure and capabilities in this field are high; therefore, it is difficult for companies with limited finances to acquire such resources and carry out such operations by themselves. In addition, the evolving regulatory guidelines and complicated pathways to establishing reimbursement strategies render medical devices subject to rigorous quality assessments, especially for medium and high risk devices. The aforementioned constraints have led many of the smaller players and certain established players to outsource a significant part of their medical device manufacturing operations to capable contract manufacturing organizations (CMOs). CMOs are known to offer significant cost-benefits, access to sophisticated / up-to-date infrastructure, large production capacities and reduction in time-to-market.

Given the demand for medical devices, the opportunity for CMOs with expertise in medical devices is steadily rising. In fact, in 2018 alone, the USFDA approved over 100 medical devices. It is worth highlighting that, since 2000, more than 65 CMOs have been established. The demand for one-stop-shops and versatile supply chain management solutions have fuelled consolidation activity in medical device outsourced manufacturing market. Contemporary contract service providers have been focusing on bolstering in-house capabilities to offer a wider range of services to their clients, covering product design to distribution and marketing, along with regulatory assistance. The medical device sector is among the most highly regulated industries, and we expect the demand for core competencies, such as design and engineering, prototype development and high volume medical device manufacturing, to continue to drive sponsor companies to outsource various parts of their product development and medical device manufacturing operations to capable contract service providers. Amidst tough competition, the availability of advanced tools and technologies is an important differentiating factor; CMOs that invest in such upgrades are likely to gain a competitive edge.  

This image highlights the context of Medical Device Contract Manufacturing Market report This image presents current market landscape of Medical Device Contract Manufacturing Market This image describes the current market trends of Medical Device Contract Manufacturing Market

Recent Developments in Medical Device Contract Manufacturing Market:

Several recent developments have taken place in the field of medical device contract manufacturing market. We have outlined some of these recent initiatives below. These developments, even if they took place post the release of our market report, substantiate the overall market trends that have been outlined in our analysis.

  • In August 2023, RQM+ acquired Kottmann, a Germany based company. The integration of Kottmann expands RQM+’s geographical footprint across the European Union. 
  • In July 2023, NAMSA acquired the Clinical Research Institute (CRI), a Germany based organization, to expand its clinical research solutions across the Europe. 
  • In January 2023, Charles River Laboratories announced the acquisition of SAMDI Tech, adding on to its portfolio of mass spectrometry solutions for biochemical activities.

Key CMO in Medical Device Contract Manufacturing Market 

Examples of key medical device contract manufacturing companies engaged in medical device contract manufacturing market (which have also been profiled in this market report; the complete list of medical device contract manufacturing companies is available in the full report) include Cirtec Medical, DynaFlex Technologies, I-Tek Medical Technologies, Keystone Solutions Group, Oscor, SMC, Stellartech Research, Creganna Medical, Europlaz Technologies, Riverside Medical Packaging, Synecco, Trelleborg Sealing Solutions, Interplex, Modern Medical and Suzhou Jenitek. This market report includes an easily searchable excel database of all the medical device contract manufacturing companies operating in the contract manufacturing medical device industry, worldwide.

Scope of the Report

The “Medical Device Contract Manufacturing Market, 2019-2030” market report features a comprehensive study on the current market landscape, market size, market share, market growth, market trends, market value, market forecast, market outlook, statistics and future opportunities of the medical device contract manufacturing market. The market research report primarily includes those manufacturers that offer finished product services for medical devices (excluding medical equipment, such as X-ray machines, ultrasound machines, operating tables and other similar products). The market research report features an in-depth analysis, highlighting the capabilities of the various stakeholders engaged in medical device outsourced manufacturing market, across different regions of the globe.

This image highlights competitive analysis of players engaged in Medical Device Contract Manufacturing Market This image provides information about completed, ongoing and planned clinical studies of Medical Devices This image highlights mergers and acquisitions of stakeholders engaged in Medical Device Contract Manufacturing Market

Amongst other elements, the market report includes:

  • A detailed review of the overall landscape of the medical device contract manufacturing market, featuring a list of CMOs engaged in medical device contract manufacturing market, and detailed analysis based on a number of relevant parameters, such as year of establishment, size of employee base, manufacturing facilities, geographical location, type of device manufactured (drug-delivery devices, diagnostic devices, therapeutic devices and others), scale of operation (precommercial and commercial) and types of services offered ([A] production services (such as design services, prototyping, component manufacturing, packaging, and sterilization), [B] post-production services (such as supply chain management services, labeling services, logistics, and shipping services) and [C] other services (such as regulatory services, project management services and documentation services).
  • An elaborate discussion on the various guidelines established by major regulatory bodies for medical device approval, across different countries. The market research report also features an insightful multi-dimensional bubble analysis, featuring a comparison of the contemporary regulatory scenario in key geographies across the globe.
  • A benchmark analysis, highlighting the key focus areas of small-sized, mid-sized and large companies, comparing their existing capabilities within and beyond their respective peer groups, providing a means for stakeholders to identify ways to gain a competitive edge in the industry.
  • An analysis of the medical device supply-chain, highlighting the role of CMOs engaged in medical device contract manufacturing market and analysis based on services offered, such as supply chain management services, logistics services, shipping services and warehousing services, to medical device companies. 
  • Elaborate profiles of popular players that specialize in providing services for both precommercial and commercial scale manufacturing of medical devices. Each profile features an overview of the company, its service portfolio, details on manufacturing facilities, as well as an informed future outlook.
  • A geographical clinical trial analysis of ongoing and planned studies related to medical devices, featuring details related to medical devices being investigated across various geographies, based on the number of registered trials, current status of trials, phase of development, type of sponsor, therapeutic area(s) and target disease indication(s), and number of patients enrolled.
  • A detailed analysis of the mergers and acquisitions that have taken place in medical device contract manufacturing market, highlighting the trend in the number of companies acquired between 2014-2019. The analysis provides information on the key value drivers for these mergers and acquisitions and the corresponding acquisition deal multiples. In addition, the analysis features an ownership change matrix, providing a summary of the involvement of private and public sector entities in medical device contract manufacturing market.
  • An elaborate discussion on the future opportunities / trends related to the medical device contract manufacturing market that are likely to influence the growth within medical device contract manufacturing market over the coming years.
  • A discussion on affiliated trends, key drivers and challenges, under a comprehensive SWOT framework, featuring a Harvey ball analysis, highlighting the relative impact of each SWOT parameter on the overall medical device CMO industry.

The key objective of medical device contract manufacturing market report is to provide a detailed market analysis in order to estimate the existing market size, market share, market growth, market trends, market value, market forecast, market outlook, statistics and future opportunity for medical device contract manufacturing market during the forecast period. We have provided an informed estimate of the likely evolution of the market in the short to mid-term and long term, for the forecast period 2019-2030. In addition, we have provided the likely distribution of the opportunity across different [A] type of devices (drug-delivery, therapeutic and diagnostic devices), [B] device class (class I, class II and class III), [C] therapeutic areas (cardiovascular disorders, CNS disorders, metabolic disorders, oncological disorders, orthopedic disorders, ophthalmic disorders, pain disorders, respiratory disorders, and others), and [D] geographical regions (North America, Europe, Asia-Pacific and rest of the world) and [E] leading players. To account for the uncertainties associated with the growth of the medical device outsourced manufacturing market and to add robustness to our model, we have provided three market forecast scenarios, portraying the conservative, base and optimistic tracks of the market’s evolution.

All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this market report are in USD, unless otherwise specified.

Frequently Asked Questions

Question 1: What is medical device contract manufacturing?

Answer: Medical device contract manufacturing refers to manufacturing services provided by specific organizations to medical device manufacturers for the development and production of novel medical devices in bulk.

Question 2: How big is the medical device contract manufacturing market?

Answer: The medical device contract manufacturing market size is estimated to be worth $54.1 billion in 2019.

Question 3: What is the projected market growth of the medical device contract manufacturing market?

Answer: The medical device contract manufacturing market is expected to grow at compounded annual growth rate (CAGR) of over 8% during the forecast period 2019 - 2030.

Question 4: Who are the leading companies in contract manufacturing medical device industry?

Answer: Examples of key companies engaged in medical device contract manufacturing market (which have also been profiled in this market report; the complete list of companies is available in the full report) include Cirtec Medical, DynaFlex Technologies, I-Tek Medical Technologies, Keystone Solutions Group, Oscor, SMC, Stellartech Research, Creganna Medical, Europlaz Technologies, Riverside Medical Packaging, Synecco, Trelleborg Sealing Solutions, Interplex, Modern Medical and Suzhou Jenitek.

Question 5: How many companies are currently engaged in the medical device contract manufacturing market?

Answer: Currently, over 270 companies are engaged in the medical device contract manufacturing market, offering manufacturing services for a variety of medical devices.

Question 6: How many partnership deals have been inked between the players engaged in the medical device contract manufacturing market?

Answer: More than 150 partnership deals have been inked between the players engaged in the medical device contract manufacturing market, indicating the consolidation efforts of stakeholders in the industry.

Question 7: How big is the global medical devices market?

Answer: The global medical devices market is estimated to be worth USD 430 billion in 2020, presenting a lucrative opportunity for stakeholders engaged in the medical device contract manufacturing market.

PRICING DETAILS

USD 4,499

This license grants the right of use of the purchased report to a single recipient only (normally the person who buys the report). You may access the material on your computer, as and when required, for your own personal use. You may also print Read more

This license grants the right of use of the purchased report by the employees of a business unit at a particular site/office location. The report may be accessed on the computer of any employee within the business unit. You may also print multiple Read more

This license entitles the buyer of the report to share, distribute the report (either full or in part) with other employees of the same firm/enterprise. The report may be accessed by any employee of the enterprise and there is no limit on the Read more

Discounts available for multiple report purchases
Click here to send an email to Roots Analysis team. sales@rootsanalysis.com