global Healthcare Contract Manufacturing market size is expected to be worth around US$ 281.10 billion by 2028, according to a new report by Vision Research Reports.
The global Healthcare Contract Manufacturing market size was valued at US$ 149.10 billion in 2020 and is anticipated to grow at a CAGR of 7.06% during forecast period 2021 to 2028.
Increasing demand for advanced products is major factor driving the market. Equipment manufacturers are outsourcing the manufacturing services of medical devices to third parties, mainly in emerging nations. Further, rising cases of heart disorders are boosting the demand for cardiac devices, thereby positively affecting the market growth. Budget scrutiny in developed countries, pricing pressure, and changes in reimbursement schemes are some of the major factors anticipated to increase the adoption of cost containment measures by OEMs.
This trend is expected to boost the medical device manufacturing outsourcing to emerging countries like India and China. This paradigm shift from in-house manufacturing to contract manufacturing in the pharmaceutical industry has resulted in increased focus of the companies on Contract Development & Manufacturing Services (CDMOs). These services have effectively addressed the concerns regarding pharmaceutical manufacturing as well as significantly accelerated the commercialization of products.
Moreover, growing geriatric population across the globe and consequent rise in age-related diseases have stimulated the progress of pharmaceutical clinical research outsourcing, thus leading to contract manufacturing industry growth. Asia Pacific was the dominant market for medical device outsourcing in 2018, owing to lower cost and easy availability of skilled human resources. Rise in the number of medical device manufacturing companies and such companies vying to enter regional markets, such as India and China, is further expected to contribute toward the growth of this market.
Based on type, the market is segmented into medical device and pharmaceutical, both of which cater to their own separate markets too - medical device contract manufacturing market and pharmaceutical contract manufacturing market, respectively. Medical device segment is further divided on the basis of type and therapeutic area. The type segment includes accessories, assembly, component, and device manufacturing. Device manufacturing segment is anticipated to dominate the contract manufacturing market over the forecast period owing to increasing outsourcing of devices due to extensive use and complexity in manufacturing. On the basis of therapeutic areas, the medical devices segment is analyzed for cardiology, medical imaging, orthopedic, IVD, ophthalmic, general & plastic surgery, drug delivery, dental and other areas.
The Cardiology segment held the largest share in 2020 and is also expected to witness a healthy CAGR over the forecast period. Rising demand for cardiovascular devices as a result of increasing cases of associated conditions is attributed to the growth of outsourcing of these devices. Moreover, high complexity of cardiovascular devices and need for technical expertise result in higher outsourcing of these devices. The pharmaceutical segment is divided into Active Pharmaceutical Ingredients (APIs), advanced drug delivery formulations, packaging, and finished dose formulations. Being the key component in drug development, APIs captured the largest share in 2020 and are expected to witness significant growth in the coming years.
Several companies are opting for the outsourcing of drug development due to limited capacity, insufficient resources, lack of skilled professionals, as well as for cost saving. Various CMOs/CROs offer customized services. Service offered by these organizations range from the manufacturing of API/bulk drugs to clinical trials of a drug candidate. These organizations also offer research services in different therapeutic fields including oncology, vaccines, inflammation & immunology, cardiology, neuroscience, and others.
Asia Pacific dominated the market in the 2020 and is expected to remain dominant during the forecast period owing to improving healthcare services and economic growth of developing economies. Moreover, low cost of conducting clinical trials in this region ultimately encourages manufacturers to shift their manufacturing units, which in turn drives the market growth in APAC.
North America is also expected to witness significant growth over the forecast period due to the presence of a large number of key companies in the region. These players are focusing on expanding their manufacturing facilities to satisfy the growing needs for medical devices & pharmaceuticals. This will ultimately drive the pharmaceutical segment in the region. Rising drug development costs and high industry rivalry are stimulating pharma companies to outsource drug development services.
Tecomet Inc; Jabil, Inc.; Celestica, Inc.; Integer Holdings Corp.; Plexus Corp.; Sanmina Corp.; West Pharmaceutical Services, Inc.; Flex Ltd.; Cantel Medical Corp.; Viant; Synecco Ltd.; and Angiplast.
General & Plastic Surgery
Advanced Drug Delivery Formulations
Finished Dose Formulations
Middle East & Africa
The Healthcare Contract Manufacturing market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Healthcare Contract Manufacturing market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Healthcare Contract Manufacturing market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Healthcare Contract Manufacturing market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Healthcare Contract Manufacturing market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Healthcare Contract Manufacturing capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Healthcare Contract Manufacturing by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Healthcare Contract Manufacturing market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Healthcare Contract Manufacturing market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Healthcare Contract Manufacturing market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Healthcare Contract Manufacturing industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Healthcare Contract Manufacturing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Healthcare Contract Manufacturing market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Healthcare Contract Manufacturing market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Healthcare Contract Manufacturing market. These factors have benefited the growth of the global market for Healthcare Contract Manufacturing. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Healthcare Contract Manufacturing. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Healthcare Contract Manufacturing are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
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