Medical Device Outsourcing Market Will Witness a Staggering Growth During 2019-2026 Medical Device Outsourcing Market, by Service Type (Quality Assurance, Regulatory Affairs Services, Product Design And Development, Product Testing And Sterilization, Product Implementation, Product Upgrade, Product Maintenance and Others), by Application (Cardiology, Diagnostic Imaging, Orthopedic, Ophthalmic, Dental, Endoscopy, Diabetes Care And Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2026 Medical device outsourcing market is the phenomenon that emphasize on contracting with third party for product design, manufacturing, packaging, validation, prototyping and verification of medical devices in sterile and controlled environment for supply chain management. Outsourcing not only saves the resources and decreased the operating cost but also offers the opportunities for core activities. Medical device industry has the huge pain point in terms of vendor management and relationships. The medical device outsourcing are mainly controlled by the rising demand for quality of medical products and healthcare services. The manufacturers are looking for the option to outsource their medical device manufacturing processes to the third party medical contract manufacturers, thus the medical device outsourcing market is experienced to grow upward on a global level. Click to Read More On Medical Device Outsourcing Market. Medical Device Outsourcing Market - Drivers Increasing prevalence cardiovascular diseases drives the growth of medical device outsourcing market. According to the American Heart Association, 2016, cardiovascular diseases account for 17.3 million deaths every year globally, where an estimated 23.3 million people are expected to die from CVD by 2030, thus illustrating the rising need to adopt devices. Also, according to American Heart Association, in 2019, 48% i.e. nearly half of all adults in U.S. have some type of cardiovascular diseases. Moreover, manufacturers are developing well established strategies by undergoing acquisition to become the leading supplier minimally invasive medical device delivery and access devices which serves medical devices original equipment manufacturers (OME). For instance, in 2016, TE Connectivity Ltd., announced that it has entered into the agreement to acquire the Creganna Medical Group. Ask For Sample Copy Of This Business Research Report : https://www.coherentmarketinsights.com/insight/request-sample/2641 The acquisition of Creganna Medical is a part of well-established strategy to expand the leadership position of TE connectivity in harsh environment. Medical device outsourcing provides the instant insights about health status thereby, providing significant opportunities in improving medical device outsourcing. For instance, the key players in developing countries of Asia Pacific and Latin America produce the considerable increase in the revenue due to the growth in the opportunities which is offered by these regions. Medical Device Outsourcing Market - Competitive Landscape The market share of key players is increased by growing number of acquisitions in coming years. For instance, in 2016, Cirtec Medical acquired the Stellar Technologies Inc., a components manufacturer to improve the technology for customers in neuromodulation market. Similarly, in July 2017, GE Healthcare announced the acquisition on Novia Strategies, Inc., which help the healthcare firms to meet the market demand for growing access. Some of the key players operating in the global medical device outsourcing market include Onex Corporation, Cardinal Health, Inc., Integer Holdings Corporation, TE Connectivity Ltd., Flex Ltd., Heraeus Holding GmbH, Plexus Corporation, Sanmina Corporation, West Pharmaceutical Services, Inc. Medical Device Outsourcing Market - Regional Insights On the basis of region, the medical device outsourcing market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds dominant position in the medical device outsourcing market, owing to existence of advanced technological electronic sector, large number of medical device manufacturers. Increasing demand for medical devices like wearable devices, owing to increase prevalence of chronic diseases that fuels the regional market growth. According to the National Health Council, 2015, chronic diseases affect over 70 million individuals in the U.S., which accounts for over 75% of the healthcare expenditures equaling to around US$ 2 trillion. Asia Pacific is expected to gain the fastest growth in demand for medical device outsourcing during forecast period, as it consists of tax breaks and incentives such as lower tariffs and duties to foreign companies in this nations offer an opportunity for market growth. About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Mr. Shah Coherent Market Insights 1001 4th Ave, #3200 Seattle, WA 98154 Tel: +1–206–701–6702 Email: [email protected]
Medical device outsourcing market is the phenomenon that emphasize on contracting with third party for product design, manufacturing, packaging, validation, prototyping and verification of medical devices in sterile and controlled environment for supply chain management.
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