Market Research Reports

Medical Devices Outsourcing Market - Global Industry Size, Market Share, Trends, Analysis, And Forecast 2012 - 2018

93pages
Published Date: 2012-12-19
 

Description



In this report, all areas associated with the global medical devices outsourcing market have been labeled and categorized into relevant segments according to the services provided and type of outsourcing. The research report also provides extensive details on the market drivers and restraints, while accentuating all the feasible areas of growth. The revenue figures and market values mentioned in the report are depicted in U.S. dollars. The report also segregates the medical devices outsourcing market in the four broader regions of North America, Asia Pacific, Europe, and the Rest of the World.

The research document includes a descriptive analysis of the medical devices outsourcing market in terms of overall growth. Multiple aspects are taken into consideration to evaluate the level of appeal, including overall promoting factors, market size, and the growth rate. The report creates a comprehensive landscape of the market using Porter’s Five Force Model. The research model employed utilizes both buyers’ and sellers’ impacts, distributor rights, emerging competitors, product alternatives, and the level of competitiveness in the market. It also includes historical analyses that help generate a clearer area of focus for current market opportunities. All major developments, financial overviews, and business strategies of the top companies in the medical devices outsourcing market are listed, along with a SWOT analysis.

Overview

The process of forming contracts with third-party members for the completion of business related functions in the field of medical devices is a relatively new concept. Aspects such as product design, prototyping, manufacturing, and supply chain management form a crucial foundation of data for both the parties. The functions that were previously performed by in-house teams in the healthcare companies are now being handled by external assets on a project-based work routine. 

This allows the medical device manufacturers to pay more attention on their core competencies such as technical and clinical innovations. Following the outsourcing boom, the medical devices outsourcing market is also expected to undergo strong growth over the next few years. Multiple top manufacturers and emerging ones are opting for outsourcing solutions to manage their device manufacturing process. New competitors see it as a means to cut costs and gather more resources for product innovation, or to help compensate for insufficient staff or technology.

The global medical devices outsourcing market is highly driven by the mounting need for quality healthcare services. The market is quite diverse as the leaders focus on expanding their portfolio by acquiring new innovations and products. The services offered by the outsourcing companies include product design and development, spanning all classes of medical devices. A few firms also offer regulatory services, product upgrade services, product testing services, and product maintenance services.

The global medical device outsourcing market was valued at US$21.1 billion in 2012. It will reach an overall value of US$40.8 billion in 2018, after achieving a CAGR of 11.6 percent from 2012 to 2018. The product design segment holds about 29 percent of the service market. On the other hand, Class II devices hold the largest application market share. The main reason for this is the lowered risk involved and fewer regulatory issues, when compared to the Class III devices. The key market drivers for the medical devices outsourcing market are the rising cost of raw materials and a rapidly increasing pressure to maintain market competitiveness to remain profitable. A large number of medium-sized and emerging healthcare firms find it difficult to stay afloat with a shortage of staff and raw material, and therefore opt to ease the load using the outsourcing industry.

Companies mentioned

The key players in the global medical devices outsourcing market occupy majority share. The list includes Active Implants Corporation, Accellent Inc., Mdmi Technologies Inc., Cirtec Medical Systems LLC., Creganna-Tactx Medical, Avail Medical Product, and Micro Systems Engineering GmbH.

Major geographies analyzed under this research report are: 
  • Europe
  • North America 
  • Asia-Pacific 
  • Rest of the World 
This report gives you access to decisive data such as:
  • Market growth drivers 
  • Factors limiting market growth
  • Current market trends 
  • Market structure
  • Market projections for the coming years 
Key highlights of this report
  • Overview of key market forces propelling and restraining market growth 
  • Up-to-date analyses of market trends and technological improvements in the medical devices outsourcing market
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors 
  • An array of graphics and SWOT analysis of major industry segments 
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis 
  • Offers a clear understanding of the competitive landscape and key product segments

Table of Contents


TABLE OF CONTENTS

Chapter 1 Preface
1.1 Research Objectives
1.2 About the Report
1.3 Research Methodology and Forecast Assumption

Chapter 2 Executive Summary

Chapter 3 Global Market Analysis
3.1 Industry Structure
3.2 Outsourcing Market for Medical Devices: Current Status and Future Outlook 
      3.2.1 Market Size and Growth 
      3.2.2 Market Trend and Forecast
3.3 Classification of Medical Devices 
      3.3.1 Class I Medical Devices 
      3.3.2 Class II Medical Devices
      3.3.3 Class III Medical Devices
3.4 Medical Device Outsourcing Market Dynamics
      3.4.1 Drivers
      3.4.2 Restraints 
      3.4.3 Opportunities
3.5 Analysis of Medical Device Approval Process 
      3.5.1 Regulatory Hurdles
      3.5.2 Issues and Impacts 
3.6 Analysis of Services Outsourcing Opportunity in Medical Devices Segments
      3.6.1 Cardiovascular Devices
      3.6.2 Orthopedic Devices
      3.6.3 Radiology Devices
      3.6.4 Anesthesiology Devices
      3.6.5 Neurology Devices
3.7 Regional Market Analysis
3.8 Competitive Analysis
 
Chapter 4 Market Segmentation I: Application Market
4.1 Current Status and Future Market Outlook
4.2 Drivers
4.3 Restraints
4.4 Opportunities
4.5 Class I Medical Devices 
      4.5.1 Market Size and Forecast 
      4.5.2 Market Dynamics
4.6 Class II Medical Devices
      4.6.1 Market Size and Forecast 
      4.6.2 Market Dynamics
4.7 Class III Medical Devices
      4.7.1 Market Size and Forecast 
      4.7.2 Market Dynamics

Chapter 5 Market Segmentation II: Services Market
5.1 Adoption Influencers of Services Outsourcing
5.2 Market Evaluation
5.3 Market Trends
      5.3.1 Emergence of End-to-End Solution Providers
      5.3.2 New Medical Device Tax
5.4 Regulatory Consulting Services
      5.4.1 Computer System Validation Service
      5.4.2 Market Size and Forecasts
      5.4.3 Market Dynamics
5.5 Product Design and Development Services
      5.5.1 Market Size and Forecast 
      5.5.2 Market Dynamics
              5.5.2.1 Cost and Time Reduction
              5.5.2.2 IP Rights: Opportunity for Earning
              5.5.2.3 Increasing Number of New Entrants in Medical Devices Industry
5.6 Product Testing Services
      5.6.1 Reduces Chances of Product Recalls 
      5.6.2 Market Size and Forecast 
      5.6.3 Market Dynamicss
5.7 Product Implementation Services
      5.7.1 Market Size and Forecast 
      5.7.2 Market Dynamics
5.8 Product Upgrade Services 
      5.8.1 Market Size and Forecast 
      5.8.2 Market Dynamics
5.9 Product Maintenance Services 
      5.9.1 Market Size and Forecast 
      5.9.2 Market Dynamics

Chapter 6 Market Segmentation III:Geographic Analysis
6.1 North America Services Outsourcing Market for Medical Devices
      6.1.1 Market Trends
      6.1.2 North America Services Outsourcing Market Size and Forecast, by Segment
6.2 Europe Services Outsourcing Market for Medical Devices 
      6.2.1 Market Trends
      6.2.2 Europe Services Outsourcing Market Size and Forecast, by Segment
6.3 Asia Pacific Services Outsourcing Market for Medical Devices
      6.3.1 Market Trends
              6.3.1.1 Growing SEZs
              6.3.1.2 Initiatives Towards IPR Protection 
      6.3.2 Asia Pacific Services Outsourcing Market Size and Forecast, by Segment 

Chapter 7 Company Profiles
7.1 Accellent Inc.
      7.1.1 Company Overview
      7.1.2 Financial Overview
      7.1.3 Business Strategies
      7.1.4 SWOT Analysis
7.2 Active Implants Corporation
      7.2.1 Company Overview
      7.2.2 Business Strategies
      7.2.3 Product/Services
      7.2.4 SWOT Analysis
7.3 Cirtec Medical Systems LLC
      7.3.1 Company Overview
      7.3.2 Business Strategies
      7.3.3 Product/Services
      7.3.4 SWOT Analysis
7.4 Mdmi Technologies Inc.
      7.4.1 Company Overview
      7.4.2 Financial Overview
      7.4.3 Business Strategies
      7.4.4 Product/Services
7.4.5 SWOT Analysis
7.5 Micro Systems Engineering Gmbh
      7.5.1 Company Overview
      7.5.2 Financial Overview
      7.5.3 Business Strategies
      7.5.4 SWOT Analysis
7.6 Creganna-Tactx Medical
      7.6.1 Company Overview
      7.6.2 Product/Services
      7.6.3 Business Strategy
      7.6.4 Recent Developments
      7.6.5 SWOT Analysis
7.7 Avail Medical Product
      7.7.1 Company Overview
      7.7.2 Product/Services

LIST OF FIGURES

FIG. 1 MARKET PARTICIPANTS IN OUTSOURCED MEDICAL DEVICE MANUFACTURING INDUSTRY
FIG. 2 PRODUCT LIFECYCLE OF MEDICAL DEVICES
FIG. 3 INDUSTRY LIFECYCLE OF SERVICE OUTSOURCING FOR MEDICAL DEVICES
FIG. 4 CHALLENGES – BENEFIT ANALYSIS FOR MEDICAL DEVICE MANUFACTURING
FIG. 5 GLOBAL SERVICE OUTSOURCING MARKET FOR MEDICAL DEVICES, BY APPLICATIONS (2011)
FIG. 6 FDA CLASSIFICATION OF MEDICAL DEVICES
FIG. 7 FACTORS IMPACTING OUTSOURCING IN MEDICAL DEVICES
FIG. 8 IMPACT OF TIME-TO-MARKET ON REVENUES
FIG. 9 MEDICAL DEVICE APPROVAL PROCESS
FIG. 10 COMPARATIVE ANALYSIS OF SERVICE OUTSOURCING MARKETS FOR MEDICAL DEVICES
FIG. 11 GLOBAL MARKET SHARES OF KEY ORTHOPAEDIC DEVICE MANUFACTURERS
FIG. 12 GLOBAL MARKET SHARES OF KEY MEDICAL RADIOLOGY DEVICE MANUFACTURERS
FIG. 13 GLOBAL SERVICE OUTSOURCING MARKET FOR MEDICAL DEVICES, BY GEOGRAPHY (2011)
FIG. 14 GLOBAL MARKET SHARE OF TOP 10 MEDICAL DEVICE MANUFACTURERS
FIG. 15 GLOBAL HEALTHCARE EXPENDITURE AS PERCENTAGE OF GDP, BY REGION, 2007 - 2011
FIG. 16 OUTSOURCED SERVICES & BENEFITS TO MANUFACTURERS
FIG. 17 GLOBAL SERVICES OUTSOURCING MARKET FOR MEDICAL DEVICES
FIG. 18 NORTH AMERICA SERVICES OUTSOURCING MARKET FOR MEDICAL DEVICES
FIG. 19 EUROPEAN SERVICES OUTSOURCING MARKET FOR MEDICAL DEVICES
FIG. 20 ASIAN SERVICES OUTSOURCING MARKET FOR MEDICAL DEVICES
FIG. 21 ACCELLENT FINANCIAL OVERVIEW IN MILLION USD (2009-Q1 2012)
FIG. 22 ACCELLENT COMPANY SWOT ANALYSIS

LIST OF TABLES

TABLE 1 GLOBAL SERVICES OUTSOURCING MARKET FOR MEDICAL DEVICES 2011 - 2018 (USD MILLION)
TABLE 2 MEDICAL DEVICE SERVICES OUTSOURCING MARKET, BY APPLICATIONS 2011 - 2018 (USD MILLION)
TABLE 3 GLOBAL PRESENCE OF KEY CARDIOVASCULAR DEVICE MANUFACTURERS
TABLE 4 SEGMENTATION OF GLOBAL ORTHOPEDIC DEVICES MARKET
TABLE 5 GLOBAL PRESENCE OF KEY ORTHOPEDIC DEVICE OEMS
TABLE 6 SEGMENTATION OF MEDICAL RADIOLOGY DEVICES MARKET
TABLE 7 MAJOR PLAYERS IN MEDICAL DEVICES MARKET AND THEIR PRODUCT PORTFOLIO
TABLE 8 GLOBAL SERVICES OUTSOURCING MARKET FOR MEDICAL DEVICES, BY APPLICATIONS 2011 - 2018 (USD MILLION)
TABLE 9 GLOBAL SERVICES OUTSOURCING MARKET FOR MEDICAL DEVICES, BY GEOGRAPHY 2011 - 2018 (USD MILLION)
TABLE 10 GLOBAL SERVICES OUTSOURCING MARKET FOR CLASS II MEDICAL DEVICES, BY GEOGRAPHY 2011 - 2018 (USD MILLION)
TABLE 11 GLOBAL SERVICES OUTSOURCING MARKET FOR CLASS III MEDICAL DEVICES, BY GEOGRAPHY 2011 - 2018 (USD MILLION)
TABLE 12 GLOBAL SERVICES OUTSOURCING MARKET FOR CLASS I MEDICAL DEVICES, BY GEOGRAPHY 2011 - 2018 (USD MILLION)
TABLE 13 OUTSOURCING SERVICES PROVIDED BY COMPANIES
TABLE 14 GLOBAL SERVICES OUTSOURCING MARKET IN MEDICAL DEVICES, 2011 - 2018 (USD MILLION)
TABLE 15 GLOBAL SERVICES OUTSOURCING MARKET FOR MEDICAL DEVICES, BY GEOGRAPHY 2011 - 2018 (USD MILLION)
TABLE 16 GLOBAL REGULATORY CONSULTING SERVICES MARKET FOR MEDICAL DEVICES, BY GEOGRAPHY 2011 - 2018 (USD MILLION)
TABLE 17 GLOBAL SERVICES OUTSOURCING MARKET FOR MEDICAL DEVICES DESIGN AND DEVELOPMENT, BY GEOGRAPHY 2011 – 2018 (USD MILLION)
TABLE 18 GLOBAL SERVICES OUTSOURCING MARKET FOR MEDICAL DEVICE TESTING, BY GEOGRAPHY 2011 - 2018 (USD MILLION)
TABLE 19 GLOBAL SERVICES OUTSOURCING MARKET FOR MEDICAL DEVICE IMPLEMENTATION, BY GEOGRAPHY 2011 – 2018 (USD MILLION)
TABLE 20 GLOBAL SERVICES OUTSOURCING MARKET FOR MEDICAL DEVICE UPGRADES, BY GEOGRAPHY 2011 - 2018 (USD MILLION)
TABLE 21 GLOBAL SERVICES OUTSOURCING MARKET FOR MEDICAL DEVICE MAINTENANCE, BY GEOGRAPHY 2011 – 2018 (USD MILLION)
TABLE 22 NORTH AMERICAN SERVICES OUTSOURCING MARKET FOR MEDICAL DEVICES 2011 - 2018 (USD MILLION)
TABLE 23 EUROPEAN SERVICES OUTSOURCING MARKET FOR MEDICAL DEVICES 2011 – 2018 (USD MILLION)
TABLE 24 ASIAN SERVICES OUTSOURCING MARKET FOR MEDICAL DEVICES 2011 - 2018 (USD MILLION)
TABLE 25 MICROSYSTEMS FINANCIAL OVERVIEW IN MILLION USD (2010)

Market Overview




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Free Market Analysis


The global medical devices outsourcing market is driven by rising demand for quality healthcare services, ongoing developments in the field of medical technology, and parallel operational requirements to cut costs for long term sustainability.The global market, which is seeing a rising trend of services and product outsourcing by leading global players to small and specialized service providers in emerging markets, is broadly categorized into product outsourcing and services outsourcing markets. 

The medical devices services market is highly diversified and market leaders are expanding their portfolio to tap the high potential. The global medical devices market can be segmented based on factors such as – Application: Class I medical devices, Class II medical devices, and Class III medical devices, and Services: Product design and development services, Regulatory consulting services, Product testing services, Product implementation services, Product upgrade services, and Product maintenance services. Geographically, the market is segmented into Asia Pacific,Europe, North America, andRest of the World (RoW). 

Competition amongst medical device manufacturers and the urge to increase profit margins is driving the demand for medical devices outsourcing. Increased product recalls have also boosted demand for services such as testing services and validation services. Among all the geographic regions,North America holds the largest share of medical devices outsourcing market due to the growing healthcare costs. The high penetration and coverage by medical insurance providers in the region too is further helping to boost the demand for quality healthcare services, forcing industry players to outsource services. The fast developing Asia Pacific market is continuously attracting foreign players to leverage market potential, and as a result, service providers in the region are continuously looking for higher and advanced quality certifications. 

Within the medical devices manufacturing industry, orthopedic devices constitute the leading share with cardiology devices quickly catching up as the fastest growing device type being outsourced for manufacturing services. The need for integration of other supportive technologies, such as telecommunications, digital imaging and diagnostics, robotics, and many more is further contributing to the market growth and guiding the entry of players from different industries into the market. By application, Class II devices are the largest market share holder due to moderate associated risks and limited regulatory requirements. However, due to high technical and manufacturing cost containment challenges, product design services form the largest market segment of all other medical device services outsourced. Also, outsourcing is helping companies to focus on other business activities and manage their product life cycles, which again is driving the market growth.
 

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