• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Opinions
    • Top 30
    • Research
    • Supply Chain
    • Device Sectors
    • Directory
    • Events
    • Resources
    • Microsites
    • More
  • Magazine
  • News
  • Opinions
  • Top 30
  • Research
  • Supply Chain
  • Device Sectors
  • Directory
  • Events
  • Resources
  • Microsites
  • Current / Back Issues
    Features
    Editorial
    Digital Edition
    eNewsletter Archive
    Our Team
    Editorial Guidelines
    Reprints
    Subscribe Now
    Advertise Now
    Top Features
    20 Years: A Discussion on the Past & Future of Medical Product Outsourcing

    A Combined Effort for Drug Delivery & Combo Product Technology

    Examining Medical Packaging & Sterilization on Multiple Fronts

    Medical Molding Modernized

    Computer Concepts for Medical Device Design
    OEM News
    Supplier News
    Service / Press Releases
    Online Exclusives
    Press Releases
    People in the News
    Product & Service Releases
    Supplier News
    Medtech Makers
    Technical Features
    International News
    Videos
    Product & Service Releases
    Live From Shows
    Regulatory
    Financial/Business
    Top News
    Merit Medical Acquires AngioDynamics' Catheter Portfolio

    iCAD Strengthens Leadership Team

    HeartFlow's RoadMap Analysis Debuts in the U.S.

    Study Shows Medtronic's Sphere-9 Catheter Successfully Treats Afib

    Implicity Introduces New Algorithm to Address Alert Fatigue in AF Care
    From the Editor
    Blogs
    Guest Opinions
    Top Opinions
    20 Years: A Discussion on the Past & Future of Medical Product Outsourcing

    A Combined Effort for Drug Delivery & Combo Product Technology

    Examining Medical Packaging & Sterilization on Multiple Fronts

    Medical Molding Modernized

    Computer Concepts for Medical Device Design
    Top 30 Medical Device Companies
    Market Data
    White Papers
    Top Research
    Elizabeth Holmes’ Pre-Prison Public Persona

    Trending in Healthcare Dealmaking: Creativity, Diversification, and Distress

    How Human Factors Engineering Can Contribute to Medical Device Packaging

    How Companies Can Create a Unique Selling Proposition

    Updating Medical Device Software in the Field
    3D/Additive Manufacturing
    Contract Manufacturing
    Electronics
    Machining & Laser Processing
    Materials
    Molding
    Packaging & Sterilization
    R&D & Design
    Software & IT
    Testing
    Tubing & Extrusion
    Cardiovascular
    Diagnostics
    Digital Health
    Neurological
    Patient Monitoring
    Surgical
    Orthopedics
    All Companies
    Categories
    Company Capabilities
    Add New Company
    Outsourcing Directory
    JBC Technologies

    Arthur G. Russell Co. Inc., The

    NDH Medical Inc.

    Halkey-Roberts Corporation

    Medbio LLC
    MPO Summit
    Industry Events
    Webinars
    Live From Show Event
    Industry Associations
    Videos
    Career Central
    eBook
    Slideshows
    Top Resources
    Redefining Healthcare Spaces with Built-in Antimicrobial Product Protection

    How the CHIPS Act and R&D Tax Credits Will Shape the Medtech Manufacturing Landscape

    Solving the Skills Gap Stalling the March of UK Life Sciences

    5 Ways to Reduce Nearshoring & Reshoring Costs Using Automation

    The Future of Hearing Aids: xMEMS Develops All-Silicon, Solid-State Micro Speaker
    Companies
    News Releases
    Product Releases
    Press Releases
    Product Spec Sheets
    Service Releases
    Case Studies
    White Papers
    Brochures
    Videos
    Outsourcing Directory
    JBC Technologies

    Arthur G. Russell Co. Inc., The

    NDH Medical Inc.

    Halkey-Roberts Corporation

    Medbio LLC
    • Magazine
      • Current/Back Issues
      • Features
      • Editorial
      • Columns
      • Digital Editions
      • Subscribe Now
      • Advertise Now
    • News
    • Directory
      • All Companies
      • ALL CATEGORIES
      • Industry Associations
      • Company Capabilities
      • Add Your Company
    • Supply Chain
      • 3D/Additive Manufacturing
      • Contract Manufacturing
      • Electronics
      • Machining & Laser Processing
      • Materials
      • Molding
      • Packaging & Sterilization
      • R&D & Design
      • Software & IT
      • Testing
      • Tubing & Extrusion
    • Device Sectors
      • Cardiovascular
      • Diagnostics
      • Digital Health
      • Neurological
      • Patient Monitoring
      • Surgical
      • Orthopedics
    • Top 30 Company Report
    • Expert Insights
    • Slideshows
    • Videos
    • eBook
    • Resources
    • Podcasts
    • Infographics
    • Whitepapers
    • Research
      • White Papers
      • Case Studies
      • Product Spec Sheets
      • Market Data
    • MPO Summit
    • Events
      • Industry Events
      • Live From Show Events
      • Webinars
    • Microsite
      • Companies
      • Product Releases
      • Product Spec Sheets
      • Services
      • White Papers / Tech Papers
      • Press Releases
      • Videos
      • Literature / Brochures
      • Case Studies
    • About Us
      • About Us
      • Contact Us
      • Advertise with Us
      • eNewsletter Archive
      • Privacy Policy
      • Terms of Use
    Breaking News

    Global Medical Device Outsourcing Market Forecasted to Grow

    May attain a size greater than $85 billion by 2023.

    Global Medical Device Outsourcing Market Forecasted to Grow
    Factors driving the growth of the market include increasing regulatory adherence, growing aging population, and increasing prevalence of chronic diseases. Image courtesy of Prescient & Strategic Intelligence.
    Prescient & Strategic Intelligence08.13.19
    Global medical device outsourcing market is forecasted to attain a size of more than $85 billion by 2023. Prominent factors driving the growth of the market include increasing regulatory adherence, growing aging population, and increasing prevalence of chronic diseases.
     
    The medical device outsourcing market is categorized as electronics, raw materials/components, and finished goods, on the basis of products offered. Finished goods such as disposable devices and surgical equipment/instruments are expected to witness the fastest growth in demand, with a CAGR of 10.1% during the forecast period. Medical device manufacturers are actively outsourcing the production of their finished goods especially with low product differentiations to reduce the overall cost of production and marketing.
     
    Among the different applications of medical device outsourcing, general medical devices contributed largest revenue in the global market, with a 25.9% share in 2016. General medical devices such as drug delivery devices, surgical devices, diagnostic consumables, and inhalation drug delivery devices are increasingly being outsourced by the medical device industry players, since these devices have a high market demand from healthcare providers.
     
    The APAC medical device outsourcing market is expected to witness the fastest growth in demand and is predicted to grow at a CAGR of around 10.9% during the forecast period, due to the low cost of labor and comparatively less expensive infrastructure cost as compared to other developed economies of the world. The growth of the APAC market is also supplemented by the presence of a large patient pool suffering from chronic disorders and increase in the need for affordable medical devices.
     
    Some of the major players in the global medical device outsourcing market include Cardinal Health, Inc., Integer Holdings Corporation, Onex Corporation, TE Connectivity Ltd., Flex Ltd., Heraeus Holding GmbH, Plexus Corp., West Pharmaceutical Services, Inc., and Sanmina Corporation. Globally, these key players are focusing on business expansions and acquisitions to gain a larger market share. For instance, in April 2016, TE Connectivity Ltd, a major player in connectivity and sensors, announced the completion of its previously announced acquisition of the Creganna Medical, which designs and manufactures minimally invasive delivery and access devices serving medical device original equipment manufacturers (OEMs). Watch out for more expansions and acquisitions in the near future.
    Related Searches
    • disposable devices
    • te connectivity
    • corporation
    • connectivity
    Related Knowledge Center
    • Contract Manufacturing
      Loading, Please Wait..

      Trending
      • Olympus To Establish Digital Excellence Centers
      • Study Shows Medtronic's Sphere-9 Catheter Successfully Treats Afib
      • Philips Names New Supervisory Board Chairman
      • A New Approach To Post-Market Surveillance
      • Labcorp's Clinical Development Spinoff To Be Called Fortrea
      Breaking News
      • Merit Medical Acquires AngioDynamics' Catheter Portfolio
      • iCAD Strengthens Leadership Team
      • HeartFlow's RoadMap Analysis Debuts in the U.S.
      • Study Shows Medtronic's Sphere-9 Catheter Successfully Treats Afib
      • Implicity Introduces New Algorithm to Address Alert Fatigue in AF Care
      View Breaking News >
      CURRENT ISSUE

      June 2023

      • 20 Years: A Discussion on the Past & Future of Medical Product Outsourcing
      • A Combined Effort for Drug Delivery & Combo Product Technology
      • Examining Medical Packaging & Sterilization on Multiple Fronts
      • Medical Molding Modernized
      • View More >

      Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
      You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

      • About Us
      • Privacy Policy
      • Terms And Conditions
      • Contact Us

      follow us

      Subscribe
      Nutraceuticals World

      Latest Breaking News From Nutraceuticals World

      Women in Nutraceuticals Names Global Lead in India Ahead of Nutrify C-Suite Summit
      Batory Foods Acquires Tri-State Companies
      Blue Diamond, Brightseed Partner To Discover New Almond Bioactives
      Coatings World

      Latest Breaking News From Coatings World

      AkzoNobel to Supply Porsche China with Complete Water-Based Refinish Range
      Evonik Earns ACC’s Sustainability Leadership Award
      Sandrine Garnier Joins ChemQuest as a Director
      Medical Product Outsourcing

      Latest Breaking News From Medical Product Outsourcing

      Merit Medical Acquires AngioDynamics' Catheter Portfolio
      iCAD Strengthens Leadership Team
      HeartFlow's RoadMap Analysis Debuts in the U.S.
      Contract Pharma

      Latest Breaking News From Contract Pharma

      Quell Therapeutics, AstraZeneca Partner on Engineered Treg Cell Therapies
      Charles River, INADcure Collaborate on Gene Therapy Manufacturing
      Lotus Clinical Research, Trialogics Partner for Clinical Trial Software Services
      Beauty Packaging

      Latest Breaking News From Beauty Packaging

      Guerlain's 'Secret' Archive—the World's 1st Lipstick, Perfume, & Nivea Jar
      Mary Kay Supports Ocean Conservation & Coral Reef Protection
      TerraCycle and Wrinkles Schminkles Announce Recycling Program
      Happi

      Latest Breaking News From Happi

      Sabinsa Wins 2023 Technology Innovation Award in China for LactoSpore
      Cepsa Química’s Sustainable Lab Slashes Carbon Footprint Up to 80%
      CPL Aromas Launches 2022 Sustainability and Impact Reports
      Ink World

      Latest Breaking News From Ink World

      ITMA 2023 Opens with Mega Showcase of Innovative Solutions
      Kornit Digital Shows Enhanced Presto MAX at ITMA 2023
      Kornit Digital Unveils Apollo Platform, Enhanced Atlas MAX PLUS at ITMA 2023
      Label & Narrow Web

      Latest Breaking News From Label & Narrow Web

      AWT Labels & Packaging acquires ASL Print FX
      Avery Dennison announces new cohort of startups for AD Stretch Accelerator Program
      Appvion unveils new film label facestock
      Nonwovens Industry

      Latest Breaking News From Nonwovens Industry

      Rascal + Friends Expands Distribution with Walmart
      ITMA ASIA + CITME Announce Second Location
      Andritz Partnership with Pellenc ST and Nouvelles Fibres Enters New Phase
      Orthopedic Design & Technology

      Latest Breaking News From Orthopedic Design & Technology

      SurGenTec's TiLink-L SI Joint Implant Gains FDA Nod
      Orthopedic Prosthetic Market to Eclipse $3.39 Billion by 2030
      Osso VR Launches Virtual Reality Training Program
      Printed Electronics Now

      Latest Breaking News From Printed Electronics Now

      Sensirion Air Quality Sensors Harmonized with RESET Air Standard
      Identiv Introduces Industry’s First Battery-Free Metal Sensor IoT Devices
      Heliatek Joins European Solar PV Industry Alliance (ESIA)

      Copyright © 2023 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

      AD BLOCKER DETECTED

      Our website is made possible by displaying online advertisements to our visitors.
      Please consider supporting us by disabling your ad blocker.


      FREE SUBSCRIPTION Already a subscriber? Login