According to Vision Research Reports, the global medical device outsourcing market size is expected to surpass around USD 232 billion by 2028.
The global medical device outsourcing market size was valued at USD 105 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 10.5% from 2021 to 2028.
The growing incidence of chronic diseases is one of the major factors contributing to market growth. Regulatory bodies are mainly focusing on the quality of the healthcare devices provided to the public. Hence this is encouraging various players in the market to offer various services like regulatory consulting. For example, the European Medical Device Regulation undertake special spontaneous inspection of outsourced products to test the quality as well as conformity with standards.
The importance of regulatory compliance is expected to boost the growth of consulting services such as remediation, compliance, and quality management systems (QMS), thereby contributing to market growth. Whereas, the 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 the original equipment manufacturers (OEM). These factors are expected to boost medical device outsourcing to emerging countries like India and China.
In addition, increasing difficulties in product engineering along with new entrants in the market are anticipated to shape the future of the market for medical device outsourcing. Whereas rising prevalence of chronic diseases is boosting the demand for medical devices. This, in turn, is helping the market to grow during the forecast period. Various companies are shifting their focus to research and development of new medical devices and are therefore outsourcing these activities to launch efficient medical devices in the market.
Application Insights
On the basis of application, the market for medical device outsourcing is segmented into cardiology, diagnostic imaging, orthopedic, IVD, ophthalmic, general and plastic surgery, drug delivery, dental, endoscopy, diabetes care, and others. Cardiology is estimated to be the fastest-growing segment over the forecast period.
Due to the rising incidence of chronic diseases the demand for medical device outsourcing is expected to increase in the future. This segment led the market for medical device outsourcing in 2020 and is likely to remain dominant throughout the forecast period owing to the growing prevalence of associated conditions. The IVD segment is also expected to grow significantly over the forecast period.
Service Insights
Based on service, the medical device outsourcing market is categorized into quality assurance, regulatory affairs services, product design and development services, product testing and sterilization services, product implementation services, product upgrade services, product maintenance services, and contract manufacturing.
Contract manufacturing holds the largest market share of 56 % in 2020 and is expected to dominate the market for medical device outsourcing over the forecast period. Whereas increasing focus on reducing the cost of medical devices is boosting segment growth. Alternatively, the quality assurance service segment is anticipated to register the fastest CAGR throughout the forecast period.
Regional Insights
Asia Pacific dominated the market for medical device outsourcing in 2020 and is expected to remain dominant throughout the forecast period. This can be attributed to increasing R&D in this region, and increasing adoption of new technology in medical devices. Increasing availability of skilled human resources and lower cost of devices are also anticipated to drive the market for medical device outsourcing in the future. Owing to the increasing prevalence of chronic diseases the demand for medical device outsourcing is also rising. This factor is fueling the regional market growth over the forecast period. Whereas, North America accounted for sizeable market share in 2020 due to the technologically advanced electronic sector.
Some of the noteworthy players in the medical device outsourcing market include:
Market Segmentation
By Service
By Application
By Regional
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Medical Device Outsourcing Market, By Service
7.1. Medical Device Outsourcing Market, By Service Type, 2020-2030
7.1.1. Quality Assurance Services
7.1.1.1. Market Revenue and Forecast (2016-2030)
7.1.2. Regulatory Affairs Services
7.1.2.1. Market Revenue and Forecast (2016-2030)
7.1.3. Product Design & Development Services
7.1.3.1. Market Revenue and Forecast (2016-2030)
7.1.4. Product Testing & Sterilization Services
7.1.4.1. Market Revenue and Forecast (2016-2030)
7.1.5. Product Implementation Services
7.1.5.1. Market Revenue and Forecast (2016-2030)
7.1.6. Product Upgrade Services
7.1.6.1. Market Revenue and Forecast (2016-2030)
7.1.7. Product Maintenance Services
7.1.7.1. Market Revenue and Forecast (2016-2030)
7.1.8. Contract Manufacturing
7.1.8.1. Market Revenue and Forecast (2016-2030)
Chapter 8. Global Medical Device Outsourcing Market, By Application
8.1. Medical Device Outsourcing Market, by Application, 2020-2030
8.1.1. Cardiology
8.1.1.1. Market Revenue and Forecast (2016-2030)
8.1.2. Diagnostic Imaging
8.1.2.1. Market Revenue and Forecast (2016-2030)
8.1.3. Orthopedic
8.1.3.1. Market Revenue and Forecast (2016-2030)
8.1.4. IVD
8.1.4.1. Market Revenue and Forecast (2016-2030)
8.1.5. Ophthalmic
8.1.5.1. Market Revenue and Forecast (2016-2030)
8.1.6. General & Plastic Surgery
8.1.6.1. Market Revenue and Forecast (2016-2030)
8.1.7. Drug Delivery
8.1.7.1. Market Revenue and Forecast (2016-2030)
8.1.8. Dental
8.1.8.1. Market Revenue and Forecast (2016-2030)
8.1.9. Endoscopy
8.1.9.1. Market Revenue and Forecast (2016-2030)
8.1.10. Diabetes Care
8.1.10.1. Market Revenue and Forecast (2016-2030)
Chapter 9. Global Medical Device Outsourcing Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, By Service (2016-2030)
9.1.2. Market Revenue and Forecast, by Application (2016-2030)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, By Service (2016-2030)
9.1.3.2. Market Revenue and Forecast, by Application (2016-2030)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, By Service (2016-2030)
9.1.4.2. Market Revenue and Forecast, by Application (2016-2030)
9.2. Europe
9.2.1. Market Revenue and Forecast, By Service (2016-2030)
9.2.2. Market Revenue and Forecast, by Application (2016-2030)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, By Service (2016-2030)
9.2.3.2. Market Revenue and Forecast, by Application (2016-2030)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, By Service (2016-2030)
9.2.4.2. Market Revenue and Forecast, by Application (2016-2030)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, By Service (2016-2030)
9.2.5.2. Market Revenue and Forecast, by Application (2016-2030)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, By Service (2016-2030)
9.2.6.2. Market Revenue and Forecast, by Application (2016-2030)
9.3. APAC
9.3.1. Market Revenue and Forecast, By Service (2016-2030)
9.3.2. Market Revenue and Forecast, by Application (2016-2030)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, By Service (2016-2030)
9.3.3.2. Market Revenue and Forecast, by Application (2016-2030)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, By Service (2016-2030)
9.3.4.2. Market Revenue and Forecast, by Application (2016-2030)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, By Service (2016-2030)
9.3.5.2. Market Revenue and Forecast, by Application (2016-2030)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, By Service (2016-2030)
9.3.6.2. Market Revenue and Forecast, by Application (2016-2030)
9.4. MEA
9.4.1. Market Revenue and Forecast, By Service (2016-2030)
9.4.2. Market Revenue and Forecast, by Application (2016-2030)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, By Service (2016-2030)
9.4.3.2. Market Revenue and Forecast, by Application (2016-2030)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, By Service (2016-2030)
9.4.4.2. Market Revenue and Forecast, by Application (2016-2030)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, By Service (2016-2030)
9.4.5.2. Market Revenue and Forecast, by Application (2016-2030)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, By Service (2016-2030)
9.4.6.2. Market Revenue and Forecast, by Application (2016-2030)
9.5. Latin America
9.5.1. Market Revenue and Forecast, By Service (2016-2030)
9.5.2. Market Revenue and Forecast, by Application (2016-2030)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, By Service (2016-2030)
9.5.3.2. Market Revenue and Forecast, by Application (2016-2030)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, By Service (2016-2030)
9.5.4.2. Market Revenue and Forecast, by Application (2016-2030)
Chapter 10. Company Profiles
10.1. SGS SA
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. IQVIA
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Toxikon, Inc.
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Eurofins Scientific SE
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. Pace Analytical Services, Inc.
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Intertek Group plc
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. WuXi AppTec, Inc.
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. North American Science Associates, Inc.
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Charles River Laboratories International, Inc.
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. PAREXEL International Corp.
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers