Medical Devices Outsourcing Market 2018-2026 | Size, Share, Opportunities and Forecast | Credence Research

The global medical devices outsourcing market was valued at US$ 39.20 Bn in 2017 and expected to grow at compound annual growth rate (CAGR) of 10.6% during the forecast period from 2018 to 2026.

The latest market report published by Credence Research, Inc. "Medical Devices Outsourcing Market–Growth, Future Prospects, Competitive Analysis, 2018–2026," the global medical devices outsourcing market was valued at US$ 39.20 billion in 2017 and expected to grow at a compound annual growth rate (CAGR) of 10.6 percent over the forecast period from 2018 to 2026.

Market Insights
The global medical devices outsourcing market is projected to grow at a steady rate during the forecast period owing to growing demand for outsourcing services to minimize the OEM production overheads and operational cost while maintaining the quality of the products. In addition, outsourcing reduces production time and accelerates product market entry. Service providers have expanded their portfolio by providing various services apart from manufacturing, such as regulatory compliance services, product design and development, product upgrading and maintenance. This has led to the growing market demand for outsourcing medical devices in recent years.

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The primary reason for market growth is the growing medical devices industry worldwide leading to service outsourcing. Outsourcing helps manufacturers improve the return on investment and helps to acquiring special knowledge, facilities and expertise at a cost-effective rate that would otherwise be expensive in home. However, potential risks associated with outsourcing such as regulatory scrutiny and consumer medical device civil lawsuits, high-quality payer product expectations and data security risk are some of the barriers in the outsourcing market for medical devices.

In terms of applications, cardiology segment held the largest share in the market owing to growing cardiology devices market worldwide. Growing cardiac ailments have boosted the growth of cardiology devices market, subsequently driving the cardiology devices outsourcing. In terms of geography, Asia Pacific held the largest share in the global medical devices outsourcing market. Asia Pacific, especially China and India are the global hub for medical devices and pharmaceutical outsourcing. Growing number of contract research organizations (CROs) and contract development and manufacturing organizations (CDMOs) are the major driving factor of the market.

Growing efforts to improve the quality of services as per international standards for quality management systems will further promote companies to opt for Asia Pacific as the preferred medical devices outsourcing destination. North America and Europe also hold substantial market share in the global market. However, high service cost compared to Asia Pacific is the major growth driver for the regions.

The key players currently engaged in medical devices outsourcing market include
Covance, Inc.,
Pharmaceutical Product Development, LLC. (PPD),
Charles River Laboratories International, Inc.,
Laboratory Corporation of America,
ICON plc.,
inVentiv Health,
Parexel International,
Eurofins Scientific,
Toxikon, Inc.
Pace Analytical Services, LLC.

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Table of content:
Chapter 1. Preface
Chapter 2. Executive Summary
Chapter 3. Medical Devices Outsourcing: Market Dynamics and Outlook
Chapter 4. Global Medical Devices Outsourcing Market, by Services Type, 2016-2026 (US$ Bn)
4.1. Overview
4.2. Quality Assurance
4.3. Regulatory Affairs Services
4.4. Product Design And Development
4.5. Product Testing And Sterilization
4.6. Product Upgrade Services
4.7. Product Maintenance Services
4.8. Contract Manufacturing

Chapter 5. Global Medical Devices Outsourcing Market, by Application, 2016-2026 (US$ Bn)
5.1. Overview
5.2. Cardiology
5.3. Diagnostic Imaging
5.4. Orthopedic
5.5. Diagnostic Testing Systems
5.6. Ophthalmic
5.7. Drug Delivery
5.8. General & Plastic Surgery
5.9. Dental
5.10. Endoscopy
5.11. Diabetes Care

Chapter 6. Global Medical Devices Outsourcing Market, by Geography, 2016 – 2026 (US$ Bn)
Chapter 7. Company Profiles
7.1. Covance, Inc.
7.1.1. Business Description
7.1.2. Financial Information (Subject to Data Availability)
7.1.3. Product Portfolio
7.1.4. News Coverage
7.2. Pharmaceutical Product Development, LLC. (PPD)
7.3. ICON plc.
7.4. Charles River Laboratories International, Inc.
7.5. Laboratory Corporation of America
7.6. inVentiv Health
7.7. SGS SA
7.8. Parexel International
7.9. Toxikon, Inc.
7.10. Eurofins Scientific
7.11. Intertek Group plc
7.12. Pace Analytical Services, LLC
................toc continued

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