Global medical device contract manufacturing market is anticipated to grow at a significant CAGR of 13.8% during the forecast period (2024-2031). The market growth is attributed to the growing demand for innovative and cost-effective medical devices with a shift towards miniaturization and the development of complex, high-tech medical devices driving the market growth. Medical device contract manufacturing provides flexibility in production scale and cost advantages, making it an attractive option for pharmaceutical companies. By outsourcing manufacturing, companies can adapt to changing market demands and control costs more effectively. Manufacturing companies are being awarded long-term government contracts. For instance, in December 2021, Merck announced a €121.0 million ($143.1 million) US Government contract award for a new lateral flow membrane production facility in Sheboygan, Wisconsin, US. These strategic investments position Merck as an important critical raw material supplier for the diagnostic market, especially as the company prepares for IVD regulation and medical device regulation.
Browse the full report description of “Medical Device Contract Manufacturing Market Size, Share & Trends Analysis Report by Device Type (IVD Devices, Diagnostic Imaging Devices, Cardiovascular Devices, Drug Delivery Devices, Endoscopy Devices, Ophthalmology Devices, Orthopedic Devices, Dental Devices and Others). and by Services (Device Development & Manufacturing Services, Quality Management Services and Packaging & Assembly Services). Forecast Period (2024-2031).” at https://www.omrglobal.com/industry-reports/medical-device-contract-manufacturing-market
The market players moving to strengthen offerings, giving customers deep expertise and support across the entire medical device development process, from initial concept design to commercial manufacturing. For instance, in January 2024, Sanner Group, a healthcare packaging manufacturer and medical device contract development and manufacturing organization (CDMO) acquired Springboard, a specialist in the design and development of medical devices for regulated markets. The acquisition of Springboard is in line with Sanner Group’s goal to build a suite of services for its customers across the drug delivery, diagnostic, and MedTechdevice sectors.
Manufacturing focuses on supporting start-ups and emerging medical device companies that often have a finding and keeping the attention of the contract manufacturing partners. For instance, in November 2023, Visura Technologies, Inc. introduced Evevo Manufacturing LLC, a new joint venture committed to serving emerging medical device companies in the Minneapolis ecosystem. The unique relationship between the leadership teams of YKK and Visura Technologies led to the creation of the joint venture.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Service
o By Devices Type
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Boston Scientific Corp., General Electric Company, Hitachi High-Tech Corp., Koninklijke Philips N.V., and Siemens AG., among others.
Key questions addressed by the report.
Global Medical Device Contract Manufacturing Market Report Segment
By Device Type
By Services
Global Medical Device Contract Manufacturing Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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