Stratview Research has recently published a report on the Medical Devices Outsourcing Market. This strategically evaluated report provides a detailed overview that presents today's market scenario and future possibilities, as well as market intelligence and information, for a 5-year period from 2022 to 2028.

The market is segmented by Device Class (Class I, Class II, Class III), By Service (Quality Assurance, Regulatory Affairs Services, Product Design and Development Services, Product Upgrade Services, Product Maintenance Services, Contract Manufacturing, Others), By Application (Cardiology, Neurology, Radiology, Anesthesia, Orthopedic, Ophthalmic, Dental, Others) and Region.

Medical Devices Outsourcing Market Analysis:

Stratview Research’s report discusses the segment-wise current market condition. Also, it offers an estimation of future growth opportunities. As per the estimation, the Medical Devices Outsourcing Market is estimated to grow from USD 108.9 billion in 2021 to USD 242 billion by 2026 at an impressive CAGR of 11.93% during the forecast period.

What is medical device outsourcing?

Medical device outsourcing is regarded as a phenomenon that emphasizes contracting with a third party for product design, prototyping, verification, production, packaging, and validation of medical devices in a controlled and sterile environment for the supply chain management. It mainly involves contracting with third-party organizations that excel in conceptualization, medical device prototyping, and related aspects.

Some of the companies drive the market growth:

  • SGS SA (Switzerland),
  • Toxikon, Inc. (The U.S),
  • Eurofins Scientific (Luxembourg),
  • Pace Analytical Services, Inc. (The U.S),
  • Intertek Group Plc (UK),
  • WuXi AppTec, Inc. (China),
  • North American Science Associates, Inc. (The U.S),
  • TUV SUD AG (Germany),
  • American Preclinical Services (The U.S), and
  • Sterigenics International Llc (Italy).

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Regional Analysis

The Asia Pacific market held the largest market share of more than 40% in 2021 and is estimated to register a healthy CAGR during the forecast timeline due to the easy availability of skilled manpower. Also, it can be attributed to the rising incidence of chronic diseases, the presence of key players, and competitive pricing, which further proliferates regional market progress.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

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