Medical Device Contract Manufacturing Market Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2020 to 2026

Published on : Jun-2020 | List of Tables : 30 | List of Figures : 92 | No. of Pages : 170 | Report Code : FACT4834MR | Format :

Medical Device Contract Manufacturing Market Insights

The medical device contract manufacturing market is set to embark on an impressive growth trajectory, expanding at a CAGR of 11.3% during the forecast period (2020-2026). With rapid expansion of the healthcare industry, practitioners are increasingly adopting advanced surgical options such as minimally invasive procedures. This has prompted original equipment manufacturers (OEMs) to take strategic steps to exploit the scenario and develop advanced devices. A number of mergers and acquisitions have occurred in this respect. For instance, Becton & Dickinson acquired C.R Bard while Hologic Inc. purchased Cynosure in 2017. Such developments have significantly contributed to the medical device contract manufacturing market growth.

The coronavirus pandemic, however, has posed potent challenges to the growth of the medical device contract manufacturing market. As production cycles have halted due to strict social distancing measures, a wide gap has been generated in the demand-supply equation. Manufacturing units are unable to produce adequate output, leading to acute shortages. As healthcare settings reorient their priorities, the demand for medical equipment for elective procedures has fallen. However, analysts are hopeful that advanced medical devices will prove useful in diagnosing COVID-19 infections, thus keeping growth speculations positive.

Medical Device Contract Manufacturing Market: Technological Insights

Manufacturers are employing advanced technologies to address the growing need for medical devices across the globe. Miniaturization trend has compelled OEMs and contract manufacturers to invent compact devices for minimally invasive procedures. These devices are smaller, flexible, less expensive, less power-intensive and easier to transport. Moreover, minimally invasive surgeries employ robotics and endoscopic techniques.

3D-printing is emerging as a potential technological advancement in the medical device contract manufacturing industry. The orthopedic devices segment especially presents immense opportunities for 3D-printing systems. 3D-printers are highly useful in designing prosthetics, metal, polymeric & bio-implants and patient specific jigs.

Medical Device Contract Manufacturing Market: Application Insights

Medical device contract manufacturing for orthopedic treatment continues to influence growth strategies of market players and accounts for over one-fourth of the total revenue. Growing application in manufacturing of cardiovascular devices is likely to result in increased market share.

Increasing geriatric population with conditions such as arthritis and rising need for custom devices are anticipated to spur the entry of new players specifically focused on the orthopedic devices. Strong focus on the manufacturing of cardiovascular devices is attributed to increasing fatalities arising out of cardiac problems and consequent rise in demand for stents, catheters, guidewires and implantable devices.

medical device contract manufacturing market share forecast by application

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Medical Device Contract Manufacturing Market: Regional Insights

North America is set to remain the dominant region for the medical device contract manufacturing market, capturing over 2/5th of the market share and expanding at a CAGR of 9.1% through 2026. However, Asia-Pacific promises to generate credible growth opportunities, registering an average growth rate of 11%. Strict compliance to governmental regulations, continuous technological advancements, and an increased focus on patient safety and patient care have contributed to the leading share of North America.

The medical device contract manufacturing market is witnessing significant growth in the Asia-Pacific, due to rapid economic growth and favorable government initiatives to provide better healthcare, increase in research and development activities in the pharmaceutical industry, and rise in use of minimally invasive devices for surgeries. In addition, rising prevalence of diabetes, cardiovascular disorders, and obesity in developing economies is driving Asia Pacific’s market growth.

medical device contract manufacturing market value and growth forecast by region

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Medical Device Contract Manufacturing Market: Competition Insights

The medical device contract manufacturing market consists of the following market players: Integer Holdings Corporation, Flex Ltd., Jabil Inc., West Pharmaceutical, Inc., Benchmark Electronics, Inc., Tecomet, Inc., Nortech Systems, Inc., TE Connectivity, Forefront Medical Technologies and Nordson Corporation. These market players are increasingly targeting developing economies to increase their market penetration. Developing economies present significant growth opportunities in the wake of rapidly increasing populations. Additionally, availability of inexpensive labor and raw materials allow OEMs to reduce manufacturing costs. They are also focusing on developing technologically-enhanced products along with expansions and acquisitions.

For instance, Jabil, Inc. has completed a number of mergers and acquisitions in order to offer medical devices. In July 2018, the company entered into a strategic collaboration with Johnson & Johnson Medical Devices Companies. This collaboration is anticipated to expand Jabil’s medical devices manufacturing portfolio and offer diversification capabilities. Similarly, in March 2017, the company acquired Lewis Engineering for US$ 95.9 Mn, a firm which focuses on aerospace, semiconductor and medical machine components.

Players such as Integer Holdings concentrate on product launches. The company provides medical and non-medical solutions to prospective clients. In the medical domain, its product portfolio comprises of advanced surgical, orthopedics & portable medical devices, cardio & vascular solutions and cardiac & neuromodulation products. Within these categories, the company offers arthroscopic & devices components, laparoscopic & general surgery solutions, biopsy & drug delivery solutions and electrophysiology, infusion therapy and hemodialysis products among others.

COVID-19’s Impact on the Market

The COVID-19 pandemic has crippled major businesses across the world, halting production cycles and disrupting supply chains. The healthcare industry is facing immense challenges in eradicating the pandemic, as the number of infections shows no signs of abatement. The medical device contract manufacturing market is anticipated to be impacted by the pandemic as the demand for medical devices for elective procedures has fallen. At the same time, the demand for medical devices such as ventilators and respirators is on a significant rise, thereby improving growth prospects for the medical device contract manufacturers.

Players such as Integer Holdings have been constantly monitoring the situation since the pandemic’s onset. The company has ensured that there are minimal supply chain disruptions to their clients. To ensure safety, the company has also implemented more rigorous cleaning and disinfection procedures; enforcing visitor guidance and screening; restricting business travel; setting up remote working arrangements and strict quarantine measures.

Analysts’ Viewpoint

“The medical device contract manufacturing market shows healthy growth prospects. Advancements in medical technologies have prompted important market players to expand their production capacities by penetrating into developing economies. While the COVID-19 pandemic is poised to decline demand for surgical procedures, the market is expected to expand on the back of rising need for advanced ventilators and respirators”.

Medical Device Contract Manufacturing Market: Report Scope:

The recent study on the medical device contract manufacturing market by Fact.MR incorporates a 6-year forecast period (2020-2026). The report explicates on the vital dynamics such as the drivers, restraints and opportunities of medical device contract manufacturers. The report has provided an in-depth analysis based on revenue, market share and year-on-year growth forecast. Furthermore, the market has been segmented on the basis of device, type of manufacturing, services and application.

A section on regional analysis of the market incorporates the abovementioned segments. For the purpose of this report, the regional analysis is based on the following five geographies: North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. The final section consists of a detailed competition landscape, incorporating information on key market players and their revenue shares, product portfolios, key collaborations and future growth prospects. In addition, a SWOT analysis for each market player has been provided to portray a realistic scenario.

Medical Device Contract Manufacturing Market- Scope of the Report

The recent study by Fact.MR on the medical device contract manufacturing market offers a 6-year forecast for the period of 2020-2026. The study analyzes crucial trends that are currently determining the growth of the medical device contract manufacturing market. This report explicates on vital dynamics such as the drivers, restraints and opportunities for key market players as well as emerging players associated with medical device contract manufacturing. The study also provides dynamics responsible for influencing the future status of the market over the forecast period.

A detailed assessment of the medical device contract manufacturing market value chain, business execution, and supply chain across regional markets has been covered in the report. A list of prominent companies operating in the medical device contract manufacturing market along with their product portfolio enhances the reliability of this comprehensive research study.

Medical Device Contract Manufacturing Market: Report Summary

The study offers a comprehensive analysis on diverse features including production capacities, demand, product developments, revenue generation and sales in the medical device contract manufacturing markets across the globe.

A comprehensive estimate of the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales in the medical device contract manufacturing market during the forecast period. Price point comparison by region with global average price is also considered in the study.

Medical Device Contract Manufacturing: Market Segmentation

Fact.MR has studied the medical device contract manufacturing market with detailed segmentation on the basis of device, type of manufacturing, services, application and region.

Device

Type of Manufacturing

Services

Application

Region

In-vitro Diagnostic Medical Devices

Raw Materials

Prototype Development

Cardiovascular

North America

Diagnostic Imaging & Medical Equipment

Electronics

Finished Device Manufacturing

Orthopedic

Europe

Drug Delivery Devices

Finished Goods

Assembly & Packaging

Neurovascular

Asia Pacific

Patient Monitoring Devices

 

Testing & Regulatory Support Services

Pulmonary

Latin America

Minimally Access Surgical Instruments

 

Molding & Casting

Oncology

Middle East & Africa (MEA)

Therapeutic Patient Assistive Devices

 

Others

Laparoscopy

 

Others

 

 

Urology & Gynecology

 

 

 

 

Radiology

 

 

 

 

Others

 

“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”

Medical Device Contract Manufacturing Market: Market Size Evaluation

The medical device contract manufacturing market has been analyzed for each market segment, in terms of value (US$ Mn).

Market estimates at global and regional levels for medical device contract manufacturing is available in terms of “US$ Mn” for value. A Y-o-Y growth contrast on prominent medical device contract manufacturing market segments, along with market attractiveness evaluation, has been incorporated in the report.

Medical Device Contract Manufacturing Market: Inspected Assessment on Regional Segments

Key sections have been elaborated in the medical device contract manufacturing market report, which have helped deliver projections on regional markets. These chapters include the regional macros (economic and business environment outlook), which are expected to have a momentous influence on the growth of the medical device contract manufacturing market during the forecast period.

Country-specific valuation on demand for medical device contract manufacturing has been offered for each regional market, along with the market scope estimate and forecast, price index, and impact analysis of dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value for emerging countries has also been included in the report.

Medical Device Contract Manufacturing Market: In-Depth Analysis on Competitive Landscape

The report sheds light on the leading medical device contract manufacturers along with their detailed profiles. Essential and up-to-date data information related to market performers, who are principally engaged in medical device contract manufacturing, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits the report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolio, key strategies, and all-inclusive SWOT analysis of each player. Company presence is mapped and presented through the matrix for all the prominent players thus providing the readers with actionable insights, which helps in thoughtfully presenting market status, and predicting the competition level in the medical device contract manufacturing market. Prominent manufacturers with established market presence in the medical device contract manufacturing market are Integer Holdings Corporation, Flex Ltd., Jabil Inc., West Pharmaceutical, Inc., Benchmark Electronics, Inc., Tecomet, Inc., Nortech Systems, Inc., TE Connectivity, Forefront Medical Technologies and Nordson Corporation.

1. Preface

    1.1. Market Definition and Scope

    1.2. Market Segmentation

    1.3. Key Research Objectives

    1.4. Research Highlights

2. Assumptions and Research Methodology

3. Executive Summary: Global Medical Device Contract Manufacturing Market

4. Market Overview

    4.1. Introduction

    4.2. Overview

    4.3. Market Dynamics

        4.3.1. Drivers

        4.3.2. Restraints

        4.3.3. Opportunities

    4.4. Global Medical Device Contract Manufacturing Market Analysis and Forecasts, 2020–2026

5. Key Insights

    5.1. Regulatory Scenario by Region

    5.2. Selection Criteria for Medical Device Contract Manufacturing

    5.3. Supply Chain Analysis

6. Global Medical Device Contract Manufacturing Market Analysis and Forecasts, by Device

    6.1. Introduction & Definition

    6.2. Key Findings/Developments

    6.3. Market Value Forecast, by Device, 2020–2026

        6.3.1. In-vitro Diagnostic Medical Devices

        6.3.2. Diagnostic Imaging & Medical Equipment 

        6.3.3. Drug Delivery Devices

        6.3.4. Patient Monitoring Devices

        6.3.5. Minimally Access Surgical Instruments

        6.3.6. Therapeutic Patient Assistive Devices

        6.3.7. Others

    6.4. Market Attractiveness, by Device 

7. Global Medical Device Contract Manufacturing Market Analysis and Forecasts, by Type of Manufacturing 

    7.1. Introduction & Definition

    7.2. Key Findings / Developments

    7.3. Market Value Forecast, by Type of Manufacturing, 2020–2026

        7.3.1. Raw Materials

        7.3.2. Electronics

        7.3.3. Finished Goods

    7.4. Market Attractiveness, by Type of Manufacturing 

8. Global Medical Device Contract Manufacturing Market Analysis and Forecasts, by Services  

    8.1. Introduction & Definition

    8.2. Key Findings / Developments

    8.3. Market Value Forecast, by Services, 2020–2026

        8.3.1. Prototype Development

        8.3.2. Finished Device Manufacturing

        8.3.3. Assembly & Packaging

        8.3.4. Testing & Regulatory Support Services

        8.3.5. Molding & Casting

        8.3.6. Others

    8.4. Market Attractiveness by Service  

9. Global Medical Device Contract Manufacturing Market Analysis and Forecasts, by Application 

    9.1. Introduction & Definition

    9.2. Key Findings/Developments

    9.3. Market Value Forecast, by Application, 2020–2026

        9.3.1. Cardiovascular

        9.3.2. Orthopedic

        9.3.3. Neurovascular

        9.3.4. Pulmonary

        9.3.5. Oncology

        9.3.6. Laparoscopy

        9.3.7. Urology & Gynecology

        9.3.8. Radiology

        9.3.9. Others

    9.4. Market Attractiveness by Application 

10. Global Medical Device Contract Manufacturing Market Analysis and Forecasts, by Region

    10.1. Key Findings

    10.2. Market Value Forecast, by Region

        10.2.1. North America 

        10.2.2. Europe 

        10.2.3. Asia Pacific 

        10.2.4. Latin America 

        10.2.5. Middle East & Africa 

    10.3. Market Attractiveness by Country/Region

11. North America Medical Device Contract Manufacturing Market Analysis and Forecast

    11.1. Introduction

    11.2. Market Value Forecast, by Device, 2020–2026

        11.2.1. In-vitro Diagnostic Medical Devices

        11.2.2. Diagnostic Imaging & Medical Equipment 

        11.2.3. Drug Delivery Devices

        11.2.4. Patient Monitoring Devices

        11.2.5. Minimally Access Surgical Instruments

        11.2.6. Therapeutic Patient Assistive Devices

        11.2.7. Others

    11.3. Market Value Forecast, by Type of Manufacturing, 2020–2026

        11.3.1. Raw Materials

        11.3.2. Electronics

        11.3.3. Finished Goods

    11.4. Market Value Forecast, by Services, 2020–2026

        11.4.1. Prototype Development

        11.4.2. Finished Device Manufacturing

        11.4.3. Assembly & Packaging

        11.4.4. Testing & Regulatory Support Services

        11.4.5. Molding & Casting

        11.4.6. Others

    11.5. Market Value Forecast, by Application, 2020–2026

        11.5.1. Cardiovascular

        11.5.2. Orthopedic

        11.5.3. Neurovascular

        11.5.4. Pulmonary

        11.5.5. Oncology

        11.5.6. Laparoscopy

        11.5.7. Urology & Gynecology

        11.5.8. Radiology

        11.5.9. Others

    11.6. Market Value Forecast, by Country, 2020–2026

        11.6.1. U.S.

        11.6.2. Canada

    11.7. Market Attractiveness Analysis 

        11.7.1. By Device 

        11.7.2. By Type of Manufacturing 

        11.7.3. By Services  

        11.7.4. By Application 

        11.7.5. By Country

12. Europe Medical Device Contract Manufacturing Market Analysis and Forecast

    12.1. Introduction

    12.2. Market Value Forecast, by Device, 2020–2026

        12.2.1. In-vitro Diagnostic Medical Devices

        12.2.2. Diagnostic Imaging & Medical Equipment 

        12.2.3. Drug Delivery Devices

        12.2.4. Patient Monitoring Devices

        12.2.5. Minimally Access Surgical Instruments

        12.2.6. Therapeutic Patient Assistive Devices

        12.2.7. Others

    12.3. Market Value Forecast, by Type of Manufacturing, 2020–2026

        12.3.1. Raw Materials

        12.3.2. Electronics

        12.3.3. Finished Goods

    12.4. Market Value Forecast, by Service, 2020–2026

        12.4.1. Prototype Development

        12.4.2. Finished Device Manufacturing

        12.4.3. Assembly & Packaging

        12.4.4. Testing & Regulatory Support Services

        12.4.5. Molding & Casting

        12.4.6. Others

    12.5. Market Value Forecast, by Application, 2020–2026

        12.5.1. Cardiovascular

        12.5.2. Orthopedic

        12.5.3. Neurovascular

        12.5.4. Pulmonary

        12.5.5. Oncology

        12.5.6. Laparoscopy

        12.5.7. Urology & Gynecology

        12.5.8. Radiology

        12.5.9. Others

    12.6. Market Value Forecast, by Country, 2020–2026

        12.6.1. Germany

        12.6.2. U.K.

        12.6.3. France

        12.6.4. Spain

        12.6.5. Italy

        12.6.6. Rest of Europe

    12.7. Market Attractiveness Analysis 

        12.7.1. By Device 

        12.7.2. By Type of Manufacturing 

        12.7.3. By Services  

        12.7.4. By Application 

        12.7.5. By Country

13. Asia Pacific Medical Device Contract Manufacturing Market Analysis and Forecast

    13.1. Introduction

    13.2. Market Value Forecast, by Device, 2020–2026

        13.2.1. In-vitro Diagnostic Medical Devices

        13.2.2. Diagnostic Imaging & Medical Equipment 

        13.2.3. Drug Delivery Devices

        13.2.4. Patient Monitoring Devices

        13.2.5. Minimally Access Surgical Instruments

        13.2.6. Therapeutic Patient Assistive Devices

        13.2.7. Others

    13.3. Market Value Forecast, by Type of Manufacturing, 2020–2026

        13.3.1. Raw Materials

        13.3.2. Electronics

        13.3.3. Finished Goods

    13.4. Market Value Forecast, by Services, 2020–2026

        13.4.1. Prototype Development

        13.4.2. Finished Device Manufacturing

        13.4.3. Assembly & Packaging

        13.4.4. Testing & Regulatory Support Services

        13.4.5. Molding & Casting

        13.4.6. Others

    13.5. Market Value Forecast, by Application, 2020–2026

        13.5.1. Cardiovascular

        13.5.2. Orthopedic

        13.5.3. Neurovascular

        13.5.4. Pulmonary

        13.5.5. Oncology

        13.5.6. Laparoscopy

        13.5.7. Urology & Gynecology

        13.5.8. Radiology

        13.5.9. Others

    13.6. Market Value Forecast, by Country, 2020–2026

        13.6.1. China

        13.6.2. Japan

        13.6.3. India

        13.6.4. Australia & New Zealand

        13.6.5. Rest of Asia Pacific

    13.7. Market Attractiveness Analysis 

        13.7.1. By by Device 

        13.7.2. By by Type of Manufacturing 

        13.7.3. By by Services  

        13.7.4. By by Application 

        13.7.5. By by Country

14. Latin America Medical Device Contract Manufacturing Market Analysis and Forecast

    14.1. Introduction

    14.2. Market Value Forecast, by Device, 2020–2026

        14.2.1. In-vitro Diagnostic Medical Devices

        14.2.2. Diagnostic Imaging & Medical Equipment 

        14.2.3. Drug Delivery Devices

        14.2.4. Patient Monitoring Devices

        14.2.5. Minimally Access Surgical Instruments

        14.2.6. Therapeutic Patient Assistive Devices

        14.2.7. Others

    14.3. Market Value Forecast, by Type of Manufacturing, 2020–2026

        14.3.1. Raw Materials

        14.3.2. Electronics

        14.3.3. Finished Goods

    14.4. Market Value Forecast, by Services, 2020–2026

        14.4.1. Prototype Development

        14.4.2. Finished Device Manufacturing

        14.4.3. Assembly & Packaging

        14.4.4. Testing & Regulatory Support Services

        14.4.5. Molding & Casting

        14.4.6. Others

    14.5. Market Value Forecast, by Application, 2020–2026

        14.5.1. Cardiovascular

        14.5.2. Orthopedic

        14.5.3. Neurovascular

        14.5.4. Pulmonary

        14.5.5. Oncology

        14.5.6. Laparoscopy

        14.5.7. Urology & Gynecology

        14.5.8. Radiology

        14.5.9. Others

    14.6. Market Value Forecast, by Country, 2020–2026

        14.6.1. Brazil

        14.6.2. Mexico

        14.6.3. Rest of Latin America

    14.7. Market Attractiveness Analysis 

        14.7.1. By Device 

        14.7.2. By Type of Manufacturing 

        14.7.3. By Services  

        14.7.4. By Application 

        14.7.5. By Country

15. Middle East & Africa Medical Device Contract Manufacturing Market Analysis and Forecast

    15.1. Introduction

    15.2. Market Value Forecast, by Device, 2020–2026

        15.2.1. In-vitro Diagnostic Medical Devices

        15.2.2. Diagnostic Imaging & Medical Equipment 

        15.2.3. Drug Delivery Devices

        15.2.4. Patient Monitoring Devices

        15.2.5. Minimally Access Surgical Instruments

        15.2.6. Therapeutic Patient Assistive Devices

        15.2.7. Others

    15.3. Market Value Forecast, by Type of Manufacturing, 2020–2026

        15.3.1. Raw Materials

        15.3.2. Electronics

        15.3.3. Finished Goods

    15.4. Market Value Forecast, by Services, 2020–2026

        15.4.1. Prototype Development

        15.4.2. Finished Device Manufacturing

        15.4.3. Assembly & Packaging

        15.4.4. Testing & Regulatory Support Services

        15.4.5. Molding & Casting

        15.4.6. Others

    15.5. Market Value Forecast, by Application, 2020–2026

        15.5.1. Cardiovascular

        15.5.2. Orthopedic

        15.5.3. Neurovascular

        15.5.4. Pulmonary

        15.5.5. Oncology

        15.5.6. Laparoscopy

        15.5.7. Urology & Gynecology

        15.5.8. Radiology

        15.5.9. Others

    15.6. Market Value Forecast, by Country, 2020–2026

        15.6.1. GCC Countries

        15.6.2. South Africa

        15.6.3. Rest of Middle East & Africa

    15.7. Market Attractiveness Analysis 

        15.7.1. By Device 

        15.7.2. By Type of Manufacturing 

        15.7.3. By Services  

        15.7.4. By Application 

        15.7.5. By Country

16. Competition Landscape

    16.1. Market Share Analysis by Company (2017)

    16.2. Company Profiles

        16.2.1. Flextronics International, LTD.

        16.2.2. Jabil Inc.

        16.2.3. Benchmark Electronics, Inc.

        16.2.4. Integer Holdings Corporation (Greatbatch)

        16.2.5. West Pharmaceutical Services, Inc.

        16.2.6. Tecomet, Inc.

        16.2.7. Nortech Systems

        16.2.8. TE Connectivity (Creganna Medical)

        16.2.9. Forefront Medical Technologies

        16.2.10. Nordson Corporation

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Medical Device Contract Manufacturing Market Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2020 to 2026