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Medical Device Manufacturing Outsourcing Market Records a Growth of USD 46.24 billion from 2022 to 2027, Major Innovations and Key Company Offerings - TechnavioNEW YORK, Jan. 31, 2024 /PRNewswire/ -- The medical device manufacturing outsourcing market is expected to grow by USD 46.24 billion from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 10.85% during the forecast period, according to Technavio Research. Benchmark Electronics Inc., Cadence Inc., Celestica Inc., Cirtec Medical, Eurofins Scientific SE, Flex Ltd., Gerresheimer AG, Heraeus Holding GmbH, Integer Holdings Corp., Jabil Inc., Kimball Electronics Inc., NN Inc., Nortech Systems Inc., Plexus Corp., Sanmina Corp., Tata Sons Pvt. Ltd., TE Connectivity Ltd., Tecomet Inc., TRICOR Systems Inc., and West Pharmaceutical Services Inc. are key companies. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read a Free PDF Sample Report
Cadenceinc - The company offers medical device manufacturing outsourcing such as Cadence Device for medical device OEMs. To gain access to more company profiles available with Technavio, buy the report! The medical device manufacturing outsourcing market share growth by the EMS segment will be significant during the forecast period. The global Electronics Manufacturing Services (EMS) market, featuring companies like Jabil Inc., Celestica Inc., Sanmina Corp., and Flex Ltd., is expected to experience robust growth. Increased demand for EMS is driven by advancements in robotics, wireless products, and advanced medical software. Original Equipment Manufacturers (OEMs) are turning to outsourcing to cut manufacturing costs, enhance innovation, and improve supply chain management. Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a Free PDF Sample Report
The growing focus of OEMs on reducing medical device manufacturing costs is a key factor driving growth. Global healthcare budget cuts have intensified pressure on medical device manufacturers to provide cost-effective services. To counter this, manufacturers are opting to outsource medical device manufacturing, reducing operational and production costs. Outsourcing helps OEMs cut product development costs significantly, with potential savings of up to 15% on total production costs and a reduction of 10%-30% in product development expenses.
Identify key trends, drivers, and challenges in the market. Download a sample to gain access to this information. Medical Device Manufacturing Outsourcing: Benefits Outsourcing medical device manufacturing offers various benefits to the industry. It allows Original Equipment Manufacturers (OEMs) to leverage specialized expertise and resources, streamline production processes, and comply with stringent regulatory standards. By partnering with contract manufacturers, OEMs can access a flexible supply chain, optimize production costs, and focus on core competencies such as research and development. Additionally, outsourcing enables OEMs to benefit from just-in-time manufacturing, cost-effective component sourcing, and advanced quality control measures. This approach also supports efficient prototype development, regulatory submission support, and intellectual property protection. Related Reports: The pharmaceutical contract manufacturing market size is estimated to grow by USD 58 billion at a CAGR of 7.81% between 2022 and 2027. The In Vitro Diagnostics (IVD) Contract Manufacturing Market size is estimated to grow by USD 9,370.27 million at a CAGR of 11.84% between 2022 and 2027. What are the key data covered in this medical device manufacturing outsourcing market report?
ToC: Executive Summary Market Landscape Market Sizing Historic Sizes Five Forces Analysis Segmentation by Product Segmentation by Medical Device Regulatory Classification Segmentation by Geography Customer Landscape Geographic Landscape Drivers, Challenges, & Trends Company Landscape Company Analysis Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential areas and assess their competitive positions within changing scenarios. Contacts Technavio Research
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