The Business Research Company’s report on the Medical Device Contract Manufacturing Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the medical device contract manufacturing market’s growth in recent years?
The rising prevalence of chronic disorders is expected to propel the growth of the medical device contract manufacturing market going forward. Chronic diseases refer to conditions that require ongoing medical attention or limit activities. Smart medical devices help patients monitor their health conditions and better manage their chronic diseases. As a result, there is an increase in demand for medical device contract manufacturing. For instance, in January 2023, according to the National Center for Biotechnology Information (NCBI), a US-based National Library of Medicine, there would be 142.66 million people with chronic diseases worldwide by the year 2050, up from 71.522 million in 2020. Therefore, the rising prevalence of chronic disorders is driving the growth of the medical device contract manufacturing market.
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How does the future projection of the medical device contract manufacturing market size compare to its historical growth?
The medical device contract manufacturing market size has grown rapidly in recent years. It will grow from $101.04 billion in 2024 to $115.53 billion in 2025 at a compound annual growth rate (CAGR) of 14.3%. The growth in the historic period can be attributed to cost efficiency, specialized manufacturing, supply chain resilience, quality and certification, regulatory expertise.
The medical device contract manufacturing market size is expected to see rapid growth in the next few years. It will grow to $200.88 billion in 2029 at a compound annual growth rate (CAGR) of 14.8%. The growth in the forecast period can be attributed to reshoring and nearshoring, additive manufacturing, economic and geopolitical factors, collaborative research and development (r&d), sustainable practices. Major trends in the forecast period include digital manufacturing, wearable devices, data security and privacy, material advancements, remote auditing and inspections.
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Which key players are shaping the future of the medical device contract manufacturing market?
Major companies operating in the medical device contract manufacturing market include Benchmark Electronics Inc., Celestica International LP, Consort Medical plc, Flex Ltd., Gerresheimer AG, Integer Holdings Corporation, Kimball Electronics Inc., Nemera Development S.A., Nipro Corporation, Nortech Systems Inc., Phillips-Medisize Corporation, Plexus Corporation, Sanmina Corporation, Biofortuna Limited, Catalent Inc., Forefront Medical Technologies Pte Ltd., Invetech, SteriPack Group Ltd., Abbott Laboratories, Becton Dickinson and Company, Cardinal Health Inc., Danaher Corporation, GE HealthCare Technologies Inc., Hologic Inc., Intuitive Surgical Inc., Johnson & Johnson, Medtronic plc, Siemens Healthineers AG, Stryker Corporation, 3M Company, Boston Scientific Corporation, Edwards Lifesciences Corporation, Fresenius Medical Care AG & Co. KGaA, Hill-Rom Holdings Inc., Masimo Corporation, ResMed Inc., Smith & Nephew plc, Teleflex Incorporated, Terumo Corporation, Zimmer Biomet Holdings Inc., Alcon Inc., Baxter International Inc., The Cooper Companies Inc., Dentsply Sirona Inc., Getinge AB, Olympus Corporation, Varian Medical Systems Inc.
What trends will propel the growth and evolution of the medical device contract manufacturing market?
Major companies within the medical device contract manufacturing market are forming strategic partnerships with other firms to enhance their product development initiatives. For instance, in June 2022, Amnovis, a Belgium-based additive manufacturing company and BAAT Medical, a Netherlands-based orthopedic medical devices company collaborated to develop 3D printed medical devices. Their partnership covered the entire process, from design to legal manufacturing, expediting the time to market for these devices while enhancing patient outcomes. This collaboration aimed to set new standards for specific medical device types by focusing on material research, post-processing methods, process automation, and validation. The joint effort provided a comprehensive and ISO 13485:2016 certified process for scalable manufacturing of 3D printed medical devices, streamlining the development and validation processes for medical device OEMs.
Which regions are expected to become dominant players in the medical device contract manufacturing market?
North America will be the largest region in the medical device contract manufacturing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical device contract manufacturing market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Medical Device Contract Manufacturing Market Report 2025, Size
What are the emerging key segments in the medical device contract manufacturing market, and how are they evolving?
The medical device contract manufacturing market covered in this report is segmented –
1) By Device: IVD Devices, Diagnostic Imaging Devices, Cardiovascular Devices, Drug Delivery Devices, Endoscopy Devices, Ophthalmology Devices, Orthopedic Devices, Dental Devices, Other Devices
2) By Service: Device Development and Manufacturing Service, Quality Management Service, Assembly Service
3) By Application: Laparoscopy, Pulmonary, Urology, Gynecology, Other Applications
Subsegments:
1) By In Vitro Diagnostics (IVD) Devices: Reagents, Test Kits, Assays
2) By Diagnostic Imaging Devices: X-ray Machines, MRI Machines, Ultrasound Equipment
3) By Cardiovascular Devices: Stents, Catheters, Pacemakers
4) By Drug Delivery Devices: Infusion Pumps, Nebulizers, Auto-Injectors
5) By Endoscopy Devices: Flexible Endoscopes, Rigid Endoscopes, Accessories
6) By Ophthalmology Devices: Intraocular Lenses (IOLs), Diagnostic Equipment, Surgical Instruments
7) By Orthopedic Devices: Implants, Surgical Tools, Prosthetics
8) By Dental Devices: Dental Implants, Orthodontic Devices, Dental Chairs
9) By Other Devices: Surgical Instruments, Monitoring Devices, Wearable Health Tech
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What defines the structure and scope of the medical device contract manufacturing market?
Medical device contract manufacturing refers to a process where a Medtech company that owns the idea (sole proprietorship) outsources manufacturing to another medical device manufacturing firm. The medical device contract manufacturing is used for the benefits of cost optimization, device upgrade, regulatory guidance, or expansion.
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