Medical Device Contract Manufacturing Global Market Report 2022: Market Size, Trends, And Forecast To 2026
The Business Research Company’s Medical Device Contract Manufacturing Global Market Report 2022: Market Size, Trends, And Forecast To 2026
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According to ‘Medical Device Contract Manufacturing Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026’ published by The Business Research Company, the medical device contract manufacturing market size is expected to reach a value of nearly $76.41 billion in 2022 at a compound annual growth rate (CAGR) of 12.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The medical device contract manufacturing market is expected to grow to $121.25 billion in 2026 at a CAGR of 12.2%. The rising prevalence of chronic disorders is expected to propel the growth of the medical device contract manufacturing market going forward.
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The medical device contract manufacturing market consists of sales of medical device contract manufacturing products by entities (organizations, sole traders, and partnerships) that are used for the benefits of cost optimization, device upgrade, regulatory guidance, or expansion. Medical device contract manufacturing refers to a process where a Medtech company that owns the idea (sole proprietorship) outsources manufacturing to another medical device manufacturing firm.
Global Medical Device Contract Manufacturing Market Trends
Technological innovations are the key trend gaining popularity in the medical device contract manufacturing market. Major companies operating in the medical device contract manufacturing market are focused on developing new technological solutions to strengthen their position. For instance, in December 2020, Forefront Medical Technology Pte Ltd, a Singapore-based company and medical device contract manufacturer, launched EzySwaba, a uniquely designed nasopharyngeal COVID-19 test swab. The EzySwab was developed to support the need for COVID-19 test swabs in the forefront of medical research in Singapore. This consists of the flexibility of biocompatible nylon for simple nasopharyngeal insertion and a safe breakpoint feature for rapid transfer to a sample collection tube.
Global Medical Device Contract Manufacturing Market Segments
By Device: IVD Devices, Diagnostic Imaging Devices, Cardiovascular Devices, Drug Delivery Devices, Endoscopy Devices, Ophthalmology Devices, Orthopedic Devices, Dental Devices, Other Devices
By Service: Device Development and Manufacturing Service, Quality Management Service, Assembly Service
By Application: Laparoscopy, Pulmonary, Urology, Gynecology, Other Applications
By Geography: The global medical device contract manufacturing market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America accounts for the largest share.
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Medical Device Contract Manufacturing Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides medical device contract manufacturing global market research, medical device contract manufacturing global market trends, medical device contract manufacturing global market overviews, analyzes and forecasts market size and growth for the global medical device contract manufacturing market, medical device contract manufacturing global market share, medical device contract manufacturing global market segments and geographies, medical device contract manufacturing market players, medical device contract manufacturing global market leading competitor revenues, profiles and market shares. The medical device contract manufacturing market report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.
TBRC’s Medical Device Contract Manufacturing Global Market Report 2022 includes information on the following:
Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies
Key Market Players: Benchmark Electronics Inc, Celestica International Lp., Consort Medical PLC, Flex Ltd, Gerresheimer AG, Integer Holdings Corporation, Kimball Electronics Inc, Nemera Development S.A., Nipro Corporation, Nortech Systems Inc.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
And so much more.
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