Medical Device Outsourced Manufacturing Market worth $56.2 billion by 2026 - Exclusive Report by MarketsandMarketstm

CHICAGO, April 21, 2021 /PRNewswire/ -- According to the new market research report "Medical Device Outsourced Manufacturing Market by Device Type (IVD (Equipment, Consumable), Diabetes, Respiratory, Cardiovascular, Personal Care, Endoscopy, Dental, Ophthalmology, Devices) Class of Device, Services, Procedure - APAC Forecast to 2026", published by MarketsandMarketstm, the APAC Medical Device Outsourced Manufacturing Market is projected to reach USD 56.2 billion by 2026 from USD 29.3 billion in 2021 and is expected to grow at a CAGR of 13.9% during the forecast period.

Browse in-depth TOC on "Medical Device Outsourced Manufacturing Market"

200 ? Tables 
61 ? Figures
306 ? Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=477468

The Asia Pacific market is mainly driven by the overall growth of the medical devices market, mainly due to the rising disease prevalence, life expectancy, and geriatric population. Technological advancements have prompted end users to overhaul or update their manufacturing systems. As this is a costly process, they look to outsource contract manufacturing.

However, market growth is impeded by the growing consolidation in the medical devices market. To develop their own manufacturing capabilities and save costs, Larger players are focusing on acquiring smaller players and CMOs themselves. This may affect the overall market growth to a certain extent.

The IVD devices segment accounted for the largest share of Asia Pacific medical device outsourced manufacturing market in 2020

Based on device type, the Asia Pacific market is broadly segmented into IVD devices, diagnostic imaging devices, cardiovascular devices, drug delivery devices, orthopedic devices, respiratory care devices, ophthalmology devices, surgical devices, diabetes care devices, dental devices, endoscopy devices, gynecology/urology devices, personal care devices, neurology devices, and other devices. In 2020, the IVD devices segment accounted for the largest share of the Asia Pacific market. The large share of this segment can be attributed to the increasing volume of IVD tests performed globally, increasing availability of IVD kits and reagents in the market, a growing number of hospitals and clinical laboratories in developing countries, automation and technological advancements in instruments with high-throughput capabilities, high demand for IVD tests in the COVID-19 pandemic, and advances in life science research.

Class II medical devices segment accounted for the largest share of APAC market in 2020.

Based on the class of device, the medical device outsourced manufacturing market is segmented into Class I, Class II, and Class III medical devices. In 2020, the Class II medical devices segment accounted for the largest share of the Asia Pacific market. The large share of this segment can be attributed to the large number of medical devices outsourced that fall under this device class and the utilization of a higher volume of these devices by end users and caregivers in the healthcare industry.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=477468

In 2020, device development and manufacturing services segment accounted for the largest share of the Asia Pacific market

Based on service, the Asia Pacific medical device outsourced manufacturing market is segmented into device development and manufacturing services, quality management services, packaging and assembly services and other services. In 2020, the device development and manufacturing services segment dominated this market. The increasing adoption of contract manufacturing services in the medical device industry, growth in the medical devices market (especially in the single-use disposable medical devices market), and improving device development and manufacturing capabilities are the major factors responsible for the large share of this segment.

In 2020, production segment accounted for the largest share of Asia Pacific medical device outsourced manufacturing market

Based on process, the Asia Pacific market is broadly segmented into production, prototyping, pilot production, design for manufacturing, process evaluation, validation, project management, packaging, and assembly. In 2020, the production segment accounted for the largest share of the market. The large share of this segment can be attributed to the growing number of medical device companies outsourcing their production tasks to minimize manufacturing costs.

Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=477468

China is expected to witness fastest growth during the forecast period of 2021?2026.

The Asia Pacific medical device outsourced manufacturing market, by country, has been segmented into China, Japan, Malaysia & Singapore, India, Australia & New Zealand, South Korea, and the Rest of APAC. China is expected to witness fastest growth during the forecast period of 2021?2026. China's fastest growth is mainly due to the lower cost of raw materials and labor in the country than in developed countries. The increasing demand for medical devices due to improving healthcare infrastructures, adoption of technologically advanced products, and increasing awareness of diagnosis are also expected to drive the growth of this market.

The prominent players in this medical device outsourced manufacturing market are Flex, Ltd. (Singapore), Jabil, Inc. (US), TE Connectivity, Ltd. (Switzerland), Sanmina Corporation (US), Nipro Corporation (Japan), Celestica International (Canada), Plexus Corporation (US), Benchmark Electronics, Inc. (US), Integer Holdings Corporation (US), Gerresheimer Ag (Germany), West Pharmaceutical Services, Inc. (US), Nortech Systems, Inc. (US), Consort Medical PLC (UK), Kimball Electronics Inc. (US), and Teleflex Incorporated (US), Nordson Corporation (US), Tecomet, Inc. (US), SMC Ltd. (US), Nemera (France), and Tessy Plastics Corporation (US), among others.

Browse Adjacent Markets: Medical Devices Market Research Reports & Consulting

Browse Related Reports:

In-Vitro Diagnostics Market by Product & Service (Instrument, Kits), Technology (Immunoassay, MDx, Hematology, Urinalysis), Application (Diabetes, Oncology, Cardiology, Nephrology, Infectious Diseases) End User (Hospitals) - Global Forecast to 2025

https://www.marketsandmarkets.com/Market-Reports/ivd-in-vitro-diagnostics-market-703.html

Biologics Safety Testing Market by Product (Instruments, Services, Kits & Reagents), Test (Endotoxin, Sterility Test, Cell Line Authentication, Bioburden), Application (Vaccine Development, Blood Products, Stem Cell Research) - Global Forecast to 2022

https://www.marketsandmarkets.com/Market-Reports/biologics-safety-testing-market-34624144.html

About MarketsandMarketstm 

MarketsandMarketstm provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarketstm for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarketstm are tracking global high growth markets following the "Growth Engagement Model ? GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarketstm now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarketstm is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra
MarketsandMarketstm INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/medical-device-outsourced-manufacturing-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com 
Content Source:  https://www.marketsandmarkets.com/PressReleases/medical-device-outsourced-manufacturing.asp 

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg