Medical Device Contract Manufacturing Market by Device Type (In-vitro Diagnostic Medical Devices, Drug Delivery Devices, Patient Monitoring Devices, Minimally Invasive Surgical Instruments, Therapeutic Patient Assistive Devices, Others); Class of Device (Class I, Class II, Class III); Service (Prototype Development, Finished Device Manufacturing, Assembly and Packaging, Testing and Regulatory Support Services, Molding and Casting, Others) and Geography: Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00027056 | Pages: 100 | Industry: Medical Device | Date: Oct 2022 | Type: Global

The market crossed the US$ 70.0 billion mark in 2022 and is expected to hit US$ 120.0 billion by 2030, recording a CAGR of 11.5% during the forecast period.

The Medical device contract manufacturing market has been significantly growing with the increase in the demand for efficient and technologically advanced medical equipment.

The rise in the incidences of chronic diseases, rising geriatric population, and enhancement in healthcare facilities are other factors driving the market growth. Further, technological progress has prompted end users to overhaul or update their manufacturing systems. In 2021, the Class II segment held the dominant share in the market mainly attributed to the various number of medical device available in this device class and their greater usage by end users in the healthcare domain.  

Within the report, the market is segmented into device type, class of device, service, and geography.  Based on device type, the market is segmented in-vitro diagnostic medical devices, drug delivery devices, patient monitoring devices, minimally invasive surgical instruments, therapeutic patient assistive devices, and others. On the basis of class of device, the market is segmented into class I, class II, and class III. On the basis of service, the medical device contract manufacturing market is classified as prototype development, finished device manufacturing, assembly & packaging, testing & regulatory support services, molding & casting, and others. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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Rising investments from pharmaceutical companies will provide future opportunity

Medical device contract manufacturing involves contracting a product or process to a third-party firm for various activities, including prototyping, manufacturing, product designing, and supply chain management. It offers multiple advantages, such as reduced costs, enhanced operational margins, the ability to focus on core competencies, and access to advanced technologies.

Huge investments from pharmaceutical giants and biotechnology industries are expected to propel the market's growth during the forecast period. The key players in the company are developing portable, fast, convenient instruments for point-of-care settings. For example, in July 2021, QuantuMDx launched the Q-POC system, which offers rapid POC molecular diagnostics advantages for settings, such as ICUs, clinics, and birthing centers. In addition, various POC polymerase chain reaction tests have received approval in the last two years for the detection of COVID-19 disease.

Rise in prevalence of target disorders is one of the major factors accelerating market growth.

The increase in incidences of target diseases will enhance the adoption of diagnostic and therapeutic procedures. In the last few years, the incidences of chronic diseases have increased tremendously. For instance, World Health Organization has around 19.3 million new cancer cases in 2020. Further, according to the American Heart Association data, about 41.4% of US adults will have hypertension by 2030. Moreover, according to IDF Diabetes, 415 million people had diabetes in 2015; by 2040, this figure will reach 642 million.

Recent strategic developments in the Medical device contract manufacturing market.

The Medical device contract manufacturing market has undergone several significant developments, and a few of these have been mentioned below:

  • In November 2020, Nipro Corporation announced the acquisition of Venari Medical's exclusive sales rights for a vascular treatment device designed by Venari Medical in Japan and overseas.
  • In  October 2020, Nemera announced the acquisition of Copernicus. This acquisition will enhance the company's production capabilities and inrease its product portfolio.
  • In September 2020, Nipro Corporation opened its sales offices in Xi'an, Wuhan, Hefei, and Xiamen. The new offices will enhance the company's sales and service network in China, thereby enhancing the presence of the "Nipro brand".
  • In  January 2020, Nipro Asia Pte Ltd. announced the acquisition of JMI Marketing to maintain a promising share in Bangladesh's rapidly rising economy for disposable medical devices.

Several players drive the Medical device contract manufacturing market by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Thermo Fisher Scientific, Inc., F. Hoffman-La Roche Ltd., Bio-Rad Laboratories, Inc., QIAGEN N.V., and Takara Bio, Inc.; Agilent Technologies, Inc., bioMérieux S.A. (France), Fluidigm Corporation are among the prominent players operating in the market.

Target audience for the report:

  • Drug developing companies
  • Contract development and manufacturing organization,
  • Drug discovery-related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policymakers
  • Venture capitalists, private equity firms, and start-up companies
  • Drug distributors and sales firms
  • End users of drug discovery
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Device Type:
    • In-vitro Diagnostic Medical Devices
    • Drug Delivery Devices
    • Patient Monitoring Devices
    • Minimally Invasive Surgical Instruments
    • Therapeutic Patient Assisstive Devices
    • Others
  • Class of Device:
    • Class I
    • Class II
    • Class III
  • Service:
    • Prototype Development
    • Finished Device Manufacturing
    • Assembly and Packaging
    • Testing and Regulatory Support Services
    • Molding and Casting
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
  • Flextronics International, LTD.
  • Jabil Inc.
  • Benchmark Electronics, Inc.
  • Integer Holdings Corporation (Greatbatch)
  • West Pharmaceutical Services, Inc.
  • Tecomet, Inc.
  • Nortech Systems
  • TE Connectivity (Creganna Medical)
  • Forefront Medical Technologies
  • Nordson Corporation

The List of Companies
- Flextronics International, LTD.
- Jabil Inc.
- Benchmark Electronics, Inc.
- Integer Holdings Corporation (Greatbatch)
- West Pharmaceutical Services, Inc.
- Tecomet, Inc.
- Nortech Systems
- TE Connectivity (Creganna Medical)
- Forefront Medical Technologies
- Nordson Corporation

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