Medical Device Outsourcing Market Size, Segmentation, Demand Forecast Report Up To 2020: Radiant Insights, Inc

Global medical device outsourcing market is expected to reach USD 50.37 billion by 2020c. Increasing pricing pressure on medical device OEMs and the presence of stringent government regulations are some key drivers of the medical device outsourcing market.

 

One such regulation involves the imposition of additional 2.3% excise duty on medical devices in the U.S. The implementation of this act increased manufacturing costs, thereby encouraging OEMs to adopt outsourcing as a cost curbing tool. Budgetary cutbacks undertaken by healthcare establishments is another key reason accounting for the increase in pricing pressure on medical device OEMs.

 

Product design and development accounted for over 28.0% of the market in 2013. Escalating competition in the medical device industry has heightened the importance of new product development and extensive R&D investments. Manufacturers in an attempt to mitigate risks associated with this rise in capital expenditure levels adhere to cost effective strategies, especially outsourcing. Design and development expertise offered by outsourcing firms are also expected to improve usage rates during the forecast period.

 

Access This Full Report @ http://www.radiantinsights.com/research/medical-device-outsourcing-market-analysis-by-application-class-i-class-ii-class-iii-by-services-consulting-product-design-amp-development-product-testing-product-implementation-product-upgrade-product-maintenance-services-and-segment-forecasts-to-2020

 

Further key findings from the study suggest:

 

Product implementation is expected to grow at an attractive rate of 13.5% during the forecast period. Key drivers accounting for such rapid growth include high infrastructure cost pertaining to product implementation and the growing demand for the simultaneous execution of multiple manufacturing processes.

 

Class II medical device emerged as the largest application segment of the market in 2013. Presence of high sales volume coupled with relatively less stringent device approval regulations (as compared to class III medical devices) are some factors accounting for high outsourcing rates in this segment.

 

North America was the leading regional market in 2013. Increasing prevalence of chronic diseases in the region and the consequent growth in demand for medical devices are some factors attributing for the region’s large market share. Presence of stringent government regulations and healthcare related cost curbing endeavors are also expected to enhance the demand for outsourcing.

 

Asia Pacific is expected to present this market with lucrative future growth opportunities. Growth of this region as a manufacturing hub offering lower labor and infrastructure costs is expected to fuel future market growth.

 

The medical device outsourcing market is consolidated in nature and is marked by the presence of numerous mergers and acquisitions. Some key players of this market include Shandong Weigao Co. Ltd, Sterigenics International Inc., Hamilton Company, Shinva Medical Instruments Co., Inteprod LLC, Mitutoyo Corporation, Kinetics Climax, Inc., CFI Medical, Omnica Corporation, Infinity Plastics Group, Teleflex Medical OEM, Daiichi Jitsugyo Co. Ltd, ProMed Molded Products Inc. and GE.

 

 

About Us

Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.

 

For more information visit: Radiant Insights

 

Contact:

Michelle Thoras

Corporate Sales Specialist, USA

Radiant Insights, Inc

Phone: 1-415-349-0054

Toll Free: 1-888-202-9519

Email: sales@radiantinsights.com

Blog URL: http://sagarkadam.kinja.com/

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