Transparency Market Research has published a new report on the global medical devices outsourcing market. According to the report, the global medical devices outsourcing market stood at US$21.1 bn in 2012 and is expected to reach US$40.8 bn by 2018. The report, titled ‘Medical Devices Outsourcing Market - Global Industry Size, Market Share, Trends, Analysis, And Forecast 2012 - 2018’, states that the global medical devices outsourcing market is predicted to rise at an 11.60% CAGR during the period from 2012 to 2018.
Browse the full Medical Devices Outsourcing Market - Global Industry Size, Market Share, Trends, Analysis, And Forecast 2012 - 2018 report at http://www.transparencymarketresearch.com/medical-devices-outsourcing-market.html
The global medical devices outsourcing market is experiencing a growing trend of outsourcing of services by leading players to specialized small-scale service providers in the developing market. In general terms, the global market for medical devices is divided into the product outsourcing market and the services outsourcing market. The global medical devices outsourcing market is encouraged by the increasing demand for developments in medical technology and improved healthcare services.
The global medical devices outsourcing market is segmented on the basis of application, geography, and service. By application, the global medical devices outsourcing market is classified into class I, class II, and class III medical devices. In 2012, the global medical devices outsourcing market was dominated by the class II medical devices sector. Based on service, the global medical devices outsourcing market is divided into product design and development, regulatory consulting services, product upgrade, product implementation, product maintenance services, and product testing services. In 2012, product design services dominated the global medical devices outsourcing market due to factors such as technological challenges and lack of manufacturing cost control.
Geographically, the global medical devices outsourcing market is classified into North America, Asia Pacific, Europe, and Rest of the World. In 2012, the North America medical devices outsourcing market held the largest market share due to rising costs of healthcare. The Asia Pacific medical devices outsourcing market is expected to develop swiftly owing to an increase in the number of foreign participants. Some of the leading companies in the global medical devices outsourcing market are CIRTEC Medical Systems LLC, Active Implants Corporation, Micro Systems Engineering GMBH, Avail Medical Products, Accellent Inc., and MDMI Technologies INC.
Multiple emerging and leading manufacturers of medical devices are opting for outsourcing services to manage and control their device manufacturing procedures. For many new competitors, outsourcing is a way to cut costs and collect more resources and raw materials for product innovation. The global medical devices outsourcing market is primarily driven by the increasing need for better medical and healthcare services.
The global medical devices outsourcing market is fragmented in nature, as most of the prominent players focus on introducing innovative medical devices. The urgency to multiply profit margins and gain an edge over competitors is propelling the global medical devices outsourcing market. Increased product recalls have boosted medical devices outsourcing services such as product testing and validation services.The growing need for integration of services such as digital imaging, telecommunications, diagnostics, and robotics is further expected to create more development opportunities for the global medical devices outsourcing market.
Key Segments of Global Medical Devices Outsourcing Market
Medical Devices Outsourcing Market, By Geography
- North America
- Asia Pacific
- Rest of the World
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