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Classified in: Health, Business
Subjects: SVY, ECO

Contract Manufacturing Market Size Worth $281.6 Billion By 2026: Grand View Research, Inc.


SAN FRANCISCO, Aug. 26, 2019 /PRNewswire/ -- The global contract manufacturing market size is expected to reach USD 281.6 billion by 2026 registering a CAGR of 7.0%, according to a new report by Grand View Research, Inc. Increasing demand for advanced products is major factor driving the market. Equipment manufacturers are outsourcing the manufacturing services of medical devices to third parties, mainly in emerging nations. Further, rising cases of heart disorders are boosting the demand for cardiac devices, thereby positively affecting the market growth. Budget scrutiny in developed countries, pricing pressure, and changes in reimbursement schemes are some of the major factors anticipated to increase the adoption of cost containment measures by OEMs.

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Key suggestions from the report:

Read 118 page research report with TOC on "Contract Manufacturing Market Size, Share & Trends Analysis Report By Type (Medical Devices, Pharmaceutical), By Region (North America, Latin America, Asia Pacific, MEA, Europe), And Segment Forecasts, 2019 - 2026" at: https://www.grandviewresearch.com/industry-analysis/contract-manufacturing-market

This trend is expected to boost the medical device manufacturing outsourcing to emerging countries like India and China. This paradigm shift from in-house manufacturing to contract manufacturing in the pharmaceutical industry has resulted in increased focus of the companies on Contract Development & Manufacturing Services (CDMOs). These services have effectively addressed the concerns regarding pharmaceutical manufacturing as well as significantly accelerated the commercialization of products.

Moreover, growing geriatric population across the globe and consequent rise in age-related diseases have stimulated the progress of pharmaceutical clinical research outsourcing, thus leading to contract manufacturing industry growth. Asia Pacific was the dominant market for medical device outsourcing in 2018, owing to lower cost and easy availability of skilled human resources. Rise in the number of medical device manufacturing companies and such companies vying to enter regional markets, such as India and China, is further expected to contribute toward the growth of this market.

Grand View Research has segmented the global contract manufacturing market on the basis of type and region:

Find more research reports on Medical Devices Industry, by Grand View Research:

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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Grand View Research, Inc.
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