The market for contract manufacturing of medical devices is growing as the demand for these devices increases. With increased capacity, manufacturers are able to offer contract manufacturing services that lower costs and increase preference across brands. Find out which manufacturers will be at the forefront of this market in future!
The Medical Device Contract Manufacturing Market as a Whole
The medical device contract manufacturing market is expected to reach $113.3 billion in 2026 from USD 65.9 billion in 2021, at a CAGR of 11.5% during the forecast period. The growth of the market is driven by recent technological advancements and an increasing demand for high-quality healthcare products. These factors are expected to help increase the adoption of medical devices in the global market. Increasing demand from small and medium businesses (SMBs), continuous innovation in technologies, and increased investment by enterprises in R&D activities. The contract manufacturing market is segmented on the basis of type of product, end use, and region.
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The report provides insights into the key players in the medical device manufacturing market and their footprint on the overall market. It covers the capacity utilization, product portfolio, and pricing analysis of leading players across various regions.
This market is segmented by Device Type (IVD (Equipment, Consumable), Cardiovascular, Diabetes Care, Drug Delivery, Orthopedic, Ophthalmic, Endoscopy Devices), Class of Device (Class I, II, III), & Services
Medical Device Contract Manufacturing Market – Current Opportunities
- The IVD devices segment accounted for the largest share of medical device contract manufacturing market in 2020
- Class II medical devices segment accounted for the largest share of the medical device contract manufacturing market in 2020.
- In 2020, the device development and manufacturing services segment accounted for the largest share of the medical device contract manufacturing market
- Asia Pacific is expected to witness the fastest growth during the forecast period of 2021–2026.
This study involved four major activities in estimating the current medical device contract manufacturing market size. Extensive research was conducted to collect information on the market as well as its peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the value market. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.
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