The Global Medical Device Contract Manufacturing Market is projected to grow at a 10.82% CAGR during the forecast period (2022-2027). The medical device contract manufacturing market is witnessing an explosion in product demand owing to numerous reasons such as the increasing demand for complex and affordable medical devices. Another contributing factor is the rising prevalence of chronic disorders and the increasing geriatric population in the coming years. Additionally, the rising numbers of hospitals in developing countries and the rising IVD test volume will also play a key role in establishing an upward growth trend in the medical device contract manufacturing market during the forecast period from 2022 to 2027.
Some of the Global Medical Device Contract Manufacturing Devices Companies with various stages of development include Flex, Ltd., Integer Holdings Corporation, Gerresheimer AG, Sanmina Corporation, Nipro Corporation, Celestica International Lp., and Plexus Corp. Benchmark Electronics Inc., West Pharmaceutical Services, Inc., Jabil Inc., Tecomet Inc., Nortech Systems Inc., TE Connectivity, Forefront Medical Technologies, Nordson Corporation, and others are currently dominating the Medical Device Contract Manufacturing Devices Market.
DelveInsight’s “Medical Device Contract Manufacturing Devices Market Insights and Forecast” report provides the current and forecasted Medical Device Contract Manufacturing Devices Market trends for the next five years, upcoming innovations in the devices, individual Medical Device Contract Manufacturing Devices market share, challenges, drivers, and barriers, and key competitors in the domain.
Medical Device Contract Manufacturing Devices: An Overview
Medical Devices Contract Manufacturing Organizations (CMOs) are companies that provide drug development and drug manufacturing services in the pharmaceutical industry on a contract basis. Contract manufacturing organizations take a pre-formulated drug and then help in manufacturing it. The Medical Device Contract Manufacturing market is witnessing an explosion in product demand due to numerous reasons such as the rising prevalence of chronic disorders. Another contributing factor is the rising advancements in healthcare, medical and biomedical technology along with the rising expansion and development of skilled and technologically superior healthcare infrastructure and medical facilities.
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Recent Breakthroughs in the Medical Device Contract Manufacturing Market
In recent years, the Medical Device Contract Manufacturing Devices market observed expansions in terms of clinical, commercial, and clinical development.
- On July 27, 2021, ILC Dover acquired the medical device contract design and manufacturing organization (CDMO) Flexan.
- In May 2019, Catalent Inc. completed the acquisition of Paragon Bioservices, Inc., a contract research and manufacturing organization, for $1.2 billion.
- On December 30, 2020, Moderna Inc. and Recipharm AB, a CDMO drafted an agreement to support the formulation and fill-finish a part of the Moderna COVID-19 Vaccine supply outside the U.S.
- Thus, owing to such developments in the market, there will be rapid growth observed in the medical device contract manufacturing market during the forecast period.
According to DelveInsight, the Medical Device Contract Manufacturing Devices Clinical Development market would rise rapidly throughout the forecast period due to continuous commercial and clinical development.
Key Players Proactively working in the Medical Device Contract Manufacturing Devices Market Insights
In the global market for Medical Device Contract Manufacturing Devices, key players contribute significantly to their development and are also active in mergers and acquisitions to strengthen their market position.
Some of the Medical Device Contract Manufacturing Devices companies operating actively in the Medical Device Contract Manufacturing Devices included Flex, Ltd., Integer Holdings Corporation, Gerresheimer AG, Sanmina Corporation, Nipro Corporation, Celestica International Lp., Plexus Corp., Benchmark Electronics Inc., West Pharmaceutical Services, Inc., Jabil Inc., Tecomet Inc., Nortech Systems Inc., TE Connectivity, Forefront Medical Technologies, Nordson Corporation, and several others.
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COVID-19 IMPACT ANALYSIS ON MEDICAL DEVICE CONTRACT MANUFACTURING DEVICES MARKET
With the outbreak of the COVID-19 pandemic, the demand for medical device contract manufacturing in the market decreased. The medical device industry had faced immense challenges while eradicating the pandemic, as the number of infections clearly showed no signs of subsiding. The medical device contract manufacturing market had expected to be impacted by the pandemic as the demand for medical devices for elective procedures has fallen. In
In contradiction to this, the demand for certain medical devices such as ventilators and respirators had grown multifold, thereby improvising the growth-related prospects for medical device contract manufacturers.
The medical device contract manufacturing companies had constantly been monitoring the situation since the onset of the pandemic. Players in the market have also ensured that there are minimal supply chain disruptions for their clients. In order to ensure safety, the companies have also implemented rigorous cleaning and disinfection procedures, implementing both visitor guidance and screening, restricting business-related travels, and setting up remote working arrangements and strict quarantine measures.
To discuss more the short/long-term impact of COVID-19 get a snapshot of the report Medical Device Contract Manufacturing Market Size
Scope of the Medical Device Contract Manufacturing Devices Market Report
- Study Period- 2019-2027
- Key Companies: Flex Ltd. (NYSE: FLEX), Integer Holdings Corporation (NYSE: ITGR), Gerresheimer AG (NYSE: GXI.DE), Sanmina Corporation (NYSE: SANM), Nipro Corporation, Celestica International Lp., Plexus Corp (NYSE: PLX)., Benchmark Electronics Inc. (NYSE: BHE), West Pharmaceutical Services Inc. (NYSE: WDT), Jabil Inc. (NYSE: JBL), Tecomet Inc., Nortech Systems Inc. (NYSE: NSYS), TE Connectivity (NYSE: TEL), Forefront Medical Technologies, Nordson Corporation (NYSE: NDSN), and others.
- Medical Device Contract Manufacturing Market By Device Type- (Ivd Devices, Drug Delivery Devices, Diagnostic Imaging Devices, Patient Monitoring Devices, Cardiovascular Devices, Orthopedic Devices, and Others)
- Medical Device Contract Manufacturing Market By Service- (Device Development And Manufacturing Services, Quality Management Services, And Final Goods Assembly Services)
- Medical Device Contract Manufacturing Market By Application- (Laparoscopy, Pulmonary, Urology & Gynecology, Cardiovascular, Orthopedic, And Others)
- Medical Device Contract Manufacturing Market- North America, Europe, Asia-Pacific, Rest of the World
- Porter’s Five Forces Analysis, Product Profiles, Cases Studies, KOL’s Views, and Analyst’s View
Table of Content
- Market Report Introduction
- Executive Summary
- Regulatory and Patent Analysis
- Market Key Factors Analysis
- Market Porter’s Five Forces Analysis
- COVID-19 Impact Analysis on Medical Device Contract Manufacturing Market
- Market Layout
- Medical Device Contract Manufacturing Market Global Company Share Analysis – Key 3-5 Companies
- Medical Device Contract Manufacturing Market Company and Product Profiles
- KOL Views
- Project Approach
- About DelveInsight
- Disclaimer & Contact Us
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Key Takeaways from the Medical Device Contract Manufacturing Market Report Study
- Market size analysis for current Medical Device Contract Manufacturing market size (2021), and market forecast for 5 years (2022-2027)
- The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Medical Device Contract Manufacturing market.
- Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years
- Key companies dominating the global Medical Device Contract Manufacturing market.
- Various opportunities are available for the other competitors in the Medical Device Contract Manufacturing market space.
- What are the top-performing segments in 2021? How these segments will perform in 2027.
- Which are the top-performing regions and countries in the current Medical Device Contract Manufacturing market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for Medical Device Contract Manufacturing market growth in the coming future?
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