Medical Device Outsourcing Market Analysis and Forecast to 2031: By Product (Raw Materials, Electronics, and Finished Goods), Device Type (Class I, II, and III Devices), Application (Orthopedic & Spine, Cardiovascular, Radiology, and General Medical Devices), and Region
Medical device outsourcing is the process of contracting with a third-party company to manufacture or assemble medical devices. The decision to outsource is typically driven by cost or capacity constraints. When done correctly, medical device outsourcing can be a cost-effective way to increase production capacity or reduce manufacturing costs.
Key Trends
One of the key trends in medical device outsourcing technology is the move towards miniaturization. This trend is being driven by the need for smaller, more portable devices that can be used in a variety of settings. In addition, there is a trend towards the use of more sophisticated materials and manufacturing processes in order to create devices that are more durable and effective.
Another key trend is the increasing use of cloud-based solutions for medical device data storage and analysis. This trend is being driven by the need for greater flexibility and scalability in medical device data management.
Key Drivers
The key drivers of the medical device outsourcing market are the increasing cost of healthcare, the need for cost-effective medical devices, the aging population, and the increasing number of chronic diseases.
The rising cost of healthcare is a major driver of the medical device outsourcing market. The cost of healthcare is increasing due to the rising cost of medical care, the aging population, and the increasing number of chronic diseases.
The need for cost-effective medical devices is another driver of the medical device outsourcing market. Medical devices are becoming more expensive due to advancements in technology.
The aging population is another driver of the medical device outsourcing market. The aging population is more likely to need medical devices due to the increased risk of chronic diseases.
The increasing number of chronic diseases is also a driver of the medical device outsourcing market. Chronic diseases are on the rise due to the aging population, the rising cost of healthcare, and the increasing prevalence of lifestyle diseases.
Restraints & Challenges
One of the key restraints in the medical device outsourcing market is the stringent regulations governing the medical device industry. The US FDA and the European Union have set up stringent regulations for the medical device industry, which has made it difficult for small and medium enterprises to enter the market. In addition, the high cost of compliance with these regulations is a major challenge for medical device manufacturers.
Another key challenge in the medical device outsourcing market is the increasing competition from low-cost manufacturers in Asia Pacific. The medical device industry is highly competitive, and manufacturers are constantly looking for ways to reduce costs. This has led to a shift in manufacturing to low-cost countries such as China and India. This has put pressure on medical device manufacturers in developed countries such as the US and Europe.
The third challenge in the medical device outsourcing market is the need for specialized skills and knowledge. The medical device industry is highly technical, and manufacturers require specialized skills and knowledge to develop and manufacture medical devices. This has led to a shortage of skilled workers in the medical device industry.
Market Segmentation
The medical device outsourcing market in this report is studied on the basis of product, device type, application, services, and region. On the basis of product, the market is divided by finished goods, electronics, and raw materials. On the basis of device type, the market is classified into class I devices, class II devices, and class III devices. On the basis of application, orthopedics and spine, cardiovascular, radiology, general medical devices, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and rest of the world.
Key Players
The key players in the Medical Device Outsourcing market include Cardinal Health, Inc., Onex Corporation, Te Connectivity Ltd., Flex Ltd., Heraeus Holding GmbH, Integer Holdings Corporation, Nortech Systems Incorporated, Plexus Corp., Sanmina Corporation and West Pharmaceutical Services, Inc.
Table of Contents
Chapter 1. Market Introduction
1.1. Objectives of the Study
1.2. Market Definition and Research & Scope
1.3. Research Methodologies
1.4. Market Estimation Techniques
Chapter 2. Executive Summary
2.1. Summary
2.2. Key Highlights of the Market
Chapter 3. Medical Device Outsourcing Market Outlook
3.1. Medical Device Outsourcing Market Segmentation
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.1.1. Driver 1
3.2.1.2. Driver 2
3.2.1.3. Driver 3
3.2.2. Market Restraints
3.2.2.1. Restraint 1
3.2.2.2. Restraint 2
3.2.3. Market Opportunities
3.2.3.1. Opportunity 1
3.2.3.2. Opportunity 2
3.3. Porter’s Five Forces Analysis
3.3.1. Threat of New Entrants
3.3.2. Threat of Substitutes
3.3.3. Bargaining Power of Buyers
3.3.4. Bargaining Power of Supplier
3.3.5. Competitive Rivalry
3.4. PESTLE Analysis
3.5. Value Chain Analysis
3.5.1. Raw Material Suppliers
3.5.2. Manufacturers
3.5.3. Wholesalers and/or Retailers
3.6. Impact of the Russia and Ukraine War on the Global Medical Device Outsourcing Market
Chapter 4. Economic Impact of COVID-19
4.1. Overall Impact of COVID-19
4.2. Impact of COVID On the Global Medical Device Outsourcing Market
4.3. Economic Impact Analysis
Chapter 5. Medical Device Outsourcing Market by Product
5.1. Market Overview
5.2. Finished goods
5.2.1. Market Size and Forecast, 2021-2031 ($Million)
5.2.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
5.3. Electronics
5.3.1. Market Size and Forecast, 2021-2031 ($Million)
5.3.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
5.4. Raw Materials
5.4.1. Market Size and Forecast, 2021-2031 ($Million)
5.4.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
Chapter 6. Medical Device Outsourcing Market by Device Type
6.1. Market Overview
6.2. Class I Devices
6.2.1. Market Size and Forecast, 2021-2031 ($Million)
6.2.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
6.3. Class II Devices
6.3.1. Market Size and Forecast, 2021-2031 ($Million)
6.3.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
6.4. Class III Devices
6.4.1. Market Size and Forecast, 2021-2031 ($Million)
6.4.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
Chapter 7. Medical Device Outsourcing Market by Application
7.1. Market Overview
7.2. Orthopedics and Spine
7.2.1. Market Size and Forecast, 2021-2031 ($Million)
7.2.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
7.3. Cardiovascular
7.3.1. Market Size and Forecast, 2021-2031 ($Million)
7.3.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
7.4. Radiology
7.4.1. Market Size and Forecast, 2021-2031 ($Million)
7.4.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
7.5. General Medical Devices
7.5.1. Market Size and Forecast, 2021-2031 ($Million)
7.5.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
7.6. Others
7.6.1. Market Size and Forecast, 2021-2031 ($Million)
7.6.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
Chapter 8. Medical Device Outsourcing Market, by Region
8.1. Overview
8.2. North America
8.2.1. Key Market Trends and Opportunities
8.2.2. North America Medical Device Outsourcing Market Size and Forecast by Product, 2021-2031, ($Million)
8.2.3. North America Medical Device Outsourcing Market Size and Forecast by Device Type, 2021-2031, ($Million)
8.2.4. North America Medical Device Outsourcing Market Size and Forecast by Application, 2021-2031, ($Million)
8.2.5. North America Medical Device Outsourcing Market Size and Forecast by Country, 2021-2031, ($Million)
8.2.6. The U.S.
8.2.6.1. The U.S. Medical Device Outsourcing Market Size and Forecast by Product, 2021-2031, ($Million)
8.2.6.2. The U.S. Medical Device Outsourcing Market Size and Forecast by Device Type, 2021-2031, ($Million)
8.2.6.3. The U.S. Medical Device Outsourcing Market Size and Forecast by Application, 2021-2031, ($Million)
8.2.7. Canada
8.2.7.1. Canada Medical Device Outsourcing Market Size and Forecast by Product, 2021-2031, ($Million)
8.2.7.2. Canada Medical Device Outsourcing Market Size and Forecast by Device Type, 2021-2031, ($Million)
8.2.7.3. Canada Medical Device Outsourcing Market Size and Forecast by Application, 2021-2031, ($Million)
8.2.8. Mexico
8.2.8.1. Mexico Medical Device Outsourcing Market Size and Forecast by Product, 2021-2031, ($Million)
8.2.8.2. Mexico Medical Device Outsourcing Market Size and Forecast by Device Type, 2021-2031, ($Million)
8.2.8.3. Mexico Medical Device Outsourcing Market Size and Forecast by Application, 2021-2031, ($Million)
8.3. Europe
8.3.1. Key Market Trends and Opportunities
8.3.2. Europe Medical Device Outsourcing Market Size and Forecast by Product, 2021-2031, ($Million)
8.3.3. Europe Medical Device Outsourcing Market Size and Forecast by Device Type, 2021-2031, ($Million)
8.3.4. Europe Medical Device Outsourcing Market Size and Forecast by Application, 2021-2031, ($Million)
8.3.5. Europe Medical Device Outsourcing Market Size and Forecast by Country, 2021-2031, ($Million)
8.3.6. Germany
8.3.6.1. Germany Medical Device Outsourcing Market Size and Forecast by Product, 2021-2031, ($Million)
8.3.6.2. Germany Medical Device Outsourcing Market Size and Forecast by Device Type, 2021-2031, ($Million)
8.3.6.3. Germany Medical Device Outsourcing Market Size and Forecast by Application, 2021-2031, ($Million)
8.3.7. France
8.3.7.1. France Medical Device Outsourcing Market Size and Forecast by Product, 2021-2031, ($Million)
8.3.7.2. France Medical Device Outsourcing Market Size and Forecast by Device Type, 2021-2031, ($Million)
8.3.7.3. France Medical Device Outsourcing Market Size and Forecast by Application, 2021-2031, ($Million)
8.3.8. U.K.
8.3.8.1. U.K. Medical Device Outsourcing Market Size and Forecast by Product, 2021-2031, ($Million)
8.3.8.2. U.K. Medical Device Outsourcing Market Size and Forecast by Device Type, 2021-2031, ($Million)
8.3.8.3. U.K. Medical Device Outsourcing Market Size and Forecast by Application, 2021-2031, ($Million)
8.3.9. Spain
8.3.9.1. Spain Medical Device Outsourcing Market Size and Forecast by Product, 2021-2031, ($Million)
8.3.9.2. Spain Medical Device Outsourcing Market Size and Forecast by Device Type, 2021-2031, ($Million)
8.3.9.3. Spain Medical Device Outsourcing Market Size and Forecast by Application, 2021-2031, ($Million)
8.3.10. Italy
8.3.10.1. Italy Medical Device Outsourcing Market Size and Forecast by Product, 2021-2031, ($Million)
8.3.10.2. Italy Medical Device Outsourcing Market Size and Forecast by Device Type, 2021-2031, ($Million)
8.3.10.3. Italy Medical Device Outsourcing Market Size and Forecast by Application, 2021-2031, ($Million)
8.3.11. Rest of Europe
8.3.11.1. Rest of Europe Medical Device Outsourcing Market Size and Forecast by Product, 2021-2031, ($Million)
8.3.11.2. Rest of Europe Medical Device Outsourcing Market Size and Forecast by Device Type, 2021-2031, ($Million)
8.3.11.3. Rest of Europe Medical Device Outsourcing Market Size and Forecast by Application, 2021-2031, ($Million)
8.4. Asia-Pacific
8.4.1. Key Market Trends and Opportunities
8.4.2. Asia-Pacific Medical Device Outsourcing Market Size and Forecast by Country, 2021-2031, ($Million)
8.4.3. Asia-Pacific Medical Device Outsourcing Market Size and Forecast by Device Type, 2021-2031, ($Million)
8.4.4. Asia-Pacific Medical Device Outsourcing Market Size and Forecast by Product, 2021-2031, ($Million)
8.4.5. Asia-Pacific Medical Device Outsourcing Market Size and Forecast by Application, 2021-2031, ($Million)
8.4.6. China
8.4.6.1. China Medical Device Outsourcing Market Size and Forecast by Product, 2021-2031, ($Million)
8.4.6.2. China Medical Device Outsourcing Market Size and Forecast by Device Type, 2021-2031, ($Million)
8.4.6.3. China Medical Device Outsourcing Market Size and Forecast by Application, 2021-2031, ($Million)
8.4.7. India
8.4.7.1. India Medical Device Outsourcing Market Size and Forecast by Product, 2021-2031, ($Million)
8.4.7.2. India Medical Device Outsourcing Market Size and Forecast by Device Type, 2021-2031, ($Million)
8.4.7.3. India Medical Device Outsourcing Market Size and Forecast by Application, 2021-2031, ($Million)
8.4.8. Japan
8.4.8.1. Japan Medical Device Outsourcing Market Size and Forecast by Product, 2021-2031, ($Million)
8.4.8.2. Japan Medical Device Outsourcing Market Size and Forecast by Device Type, 2021-2031, ($Million)
8.4.8.3. Japan Medical Device Outsourcing Market Size and Forecast by Application, 2021-2031, ($Million)
8.4.9. South Korea
8.4.9.1. South Korea Medical Device Outsourcing Market Size and Forecast by Product, 2021-2031, ($Million)
8.4.9.2. South Korea Medical Device Outsourcing Market Size and Forecast by Device Type, 2021-2031, ($Million)
8.4.9.3. South Korea Medical Device Outsourcing Market Size and Forecast by Application, 2021-2031, ($Million)
8.4.10. Rest of APAC
8.4.10.1. Rest of APAC Medical Device Outsourcing Market Size and Forecast by Product, 2021-2031, ($Million)
8.4.10.2. Rest of APAC Medical Device Outsourcing Market Size and Forecast by Device Type, 2021-2031, ($Million)
8.4.10.3. Rest of APAC Medical Device Outsourcing Market Size and Forecast by Application, 2021-2031, ($Million)
8.5. Rest of the World
8.5.1. Key Market Trends and Opportunities
8.5.2. Rest of the World Medical Device Outsourcing Market Size and Forecast by Product, 2021-2031, ($Million)
8.5.3. Rest of the World Medical Device Outsourcing Market Size and Forecast by Device Type, 2021-2031, ($Million)
8.5.4. Rest of the World Medical Device Outsourcing Market Size and Forecast by Application, 2021-2031, ($Million)
8.5.5. Rest of the World Medical Device Outsourcing Market Size and Forecast by Country, 2021-2031, ($Million)
8.5.6. Latin America
8.5.6.1. Latin America Medical Device Outsourcing Market Size and Forecast by Product, 2021-2031, ($Million)
8.5.6.2. Latin America Medical Device Outsourcing Market Size and Forecast by Device Type, 2021-2031, ($Million)
8.5.6.3. Latin America Medical Device Outsourcing Market Size and Forecast by Application, 2021-2031, ($Million)
8.5.7. Middle East
8.5.7.1. Middle East Medical Device Outsourcing Market Size and Forecast by Product, 2021-2031, ($Million)
8.5.7.2. Middle East Medical Device Outsourcing Market Size and Forecast by Device Type, 2021-2031, ($Million)
8.5.7.3. Middle East Medical Device Outsourcing Market Size and Forecast by Application, 2021-2031, ($Million)
8.5.8. Africa
8.5.8.1. Africa Medical Device Outsourcing Market Size and Forecast by Product, 2021-2031, ($Million)
8.5.8.2. Africa Medical Device Outsourcing Market Size and Forecast by Device Type, 2021-2031, ($Million)
8.5.8.3. Africa Medical Device Outsourcing Market Size and Forecast by Application, 2021-2031, ($Million)
8.5.9. Rest of LAMEA
8.5.9.1. Rest of LAMEA Medical Device Outsourcing Market Size and Forecast by Product, 2021-2031, ($Million)
8.5.9.2. Rest of LAMEA Medical Device Outsourcing Market Size and Forecast by Device Type, 2021-2031, ($Million)
8.5.9.3. Rest of LAMEA Medical Device Outsourcing Market Size and Forecast by Application, 2021-2031, ($Million)
Chapter 9. Competitive Landscape
9.1. Market Overview
9.2. Market Share Analysis/Key Player Positioning
9.3. Developmental Strategy Benchmarking
9.3.1. New Product Development
9.3.2. Product Launches
9.3.3. Business Expansions
9.3.4. Partnerships, Joint Ventures, and Collaborations
9.3.5. Mergers and Acquisitions
Chapter 10. Company Profiles
10.1. Cardinal Health, Inc.
10.1.1. Company Snapshot
10.1.2. Financial Performance
10.1.3. Product Offerings
10.1.4. Key Strategic Initiatives
10.1.5. SWOT Analysis
10.2. Onex Corporation
10.2.1. Company Snapshot
10.2.2. Financial Performance
10.2.3. Product Offerings
10.2.4. Key Strategic Initiatives
10.2.5. SWOT Analysis
10.3. Te Connectivity Ltd.
10.3.1. Company Snapshot
10.3.2. Financial Performance
10.3.3. Product Offerings
10.3.4. Key Strategic Initiatives
10.3.5. SWOT Analysis
10.4. Flex Ltd.
10.4.1. Company Snapshot
10.4.2. Financial Performance
10.4.3. Product Offerings
10.4.4. Key Strategic Initiatives
10.4.5. SWOT Analysis
10.5. Heraeus Holding GmBH
10.5.1. Company Snapshot
10.5.2. Financial Performance
10.5.3. Product Offerings
10.5.4. Key Strategic Initiatives
10.5.5. SWOT Analysis
10.6. Integer Holdings Corporation
10.6.1. Company Snapshot
10.6.2. Financial Performance
10.6.3. Product Offerings
10.6.4. Key Strategic Initiatives
10.6.5. SWOT Analysis
10.7. Nortech Systems Incorporated
10.7.1. Company Snapshot
10.7.2. Financial Performance
10.7.3. Product Offerings
10.7.4. Key Strategic Initiatives
10.7.5. SWOT Analysis
10.8. Plexus Corp.
10.8.1. Company Snapshot
10.8.2. Financial Performance
10.8.3. Product Offerings
10.8.4. Key Strategic Initiatives
10.8.5. SWOT Analysis
10.9. Sanmina Corporation
10.9.1. Company Snapshot
10.9.2. Financial Performance
10.9.3. Product Offerings
10.9.4. Key Strategic Initiatives
10.9.5. SWOT Analysis
10.10. West Pharmaceutical Services, Inc.
10.10.1. Company Snapshot
10.10.2. Financial Performance
10.10.3. Product Offerings
10.10.4. Key Strategic Initiatives
10.10.5. SWOT Analysis
*The list of company is subject to change during the final compilation of the report
Key Players
- Cardinal Health, Inc.
- Onex Corporation
- TE Connectivity Ltd.
- Flex Ltd.
- Heraeus Holding GmbH
- Integer Holdings Corporation
- Nortech Systems Incorporated
- Plexus Corp.
- Sanmina Corporation
- West Pharmaceutical Services, Inc.
Market Segmentation
By Product
- Finished goods
- Electronics
- Raw Materials
By Device Type
- Class I Devices
- Class II Devices
- Class III Devices
By Application
- Orthopaedics and Spine
- Cardiovascular
- Radiology
- General Medical Devices
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- The UK
- Germany
- France
- Spain
- Rest of Europe
- The Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- The Middle East
- Africa