Medical Device Outsourcing Market is Expected to Witness a CAGR of 10.9% over the Forecast Period: Grand View Research Inc.

San Francisco,11 October 2018: The global medical device outsourcing services market size is expected to reach USD 194.9 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 10.9% during the forecast period. Rising demand for medical devices coupled with growing trend of offshoring is expected to drive the market during the forecast period.

Recent regulatory changes in Europe with respect to medical device is also expected to fuel the demand for quality assurance and regulatory affairs services, thereby contributing to the growth of the market in the region. For instance, implementation of MDR and IVDR is expected to increase the demand for QMS service providers, thereby supplementing the growth of the overall market.

Some major regulatory changes are expected to occur across the globe, which can have an impact on the medical device outsourcing market over the forecast period. Some of the major changes are:

• Amendment in ISO certification related to medical device
• Adoption of medical device single audit program
• Implementation of medical device regulation and in vitro diagnostics regulation in the EU region
• Changes in Brazil Good Manufacturing Practice (BGMP) Quality Management System (QMS) requirements
• Simplification of Korea Good Manufacturing Practice (KGMP) rules

These regulatory reforms are estimated to augment the demand for outsourcing services, thereby providing a tremendous push to the market over the forecast period. There has been a significant consolidation in the medical device outsourcing space in recent years. Large CROs are collaborating with specialized service providers to gain substantial share in the specific market segment.

Access Research Report of Medical Device Outsourcing Market @ www.grandviewresearch.com/industry-analysis/medical-device-outsourcing-market

Further key findings from the report suggest:

• The global contract manufacturing market is anticipated to reach 104.5 billion by 2025, expanding at a CAGR of 10.2% from 2018 to 2025
• In terms of service, quality assurance is expected to experience the fastest growth during the forecast period
• Asia Pacific is expected to dominate the medical device outsourcing market during the forecast period
• North America and Europe commanded sizeable cumulative share in 2016 owing to well established manufacturing infrastructure for high end and complex medical devices
• Some of the key companies present in the market are Integer; Tecomet; Jabil; Flextronics; Celestica; Sanmina; Plexus; SGS SA; Toxikon Inc.; Eurofins Scientific; Pace Analytical Services; Intertek Group; MAPI; PPD; Freyr Solutions; and Wuxi Apptec.

Browse more reports of this category by Grand View Research at: www.grandviewresearch.com/industry/medical-devices

Grand View Research has segmented the global medical device outsourcing market on the basis of service, therapeutic area, and region:

Medical Device Outsourcing Service Outlook (Revenue, USD Million, 2014 - 2025)

• Quality Assurance
• Regulatory Affairs Services
• Product Design and Development Services
• Product Testing & Sterilization Services
• Product Implementation Services
• Product Upgrade Services
• Product Maintenance Services
• Contract Manufacturing

Medical Device Outsourcing Therapeutic Area Outlook (Revenue, USD Million, 2014 - 2025)

• Cardiology
• Diagnostic imaging
• Orthopedic
• IVD
• Ophthalmic
• General and plastic surgery
• Drug delivery
• Dental
• Endoscopy
• Diabetes care
• Others

Medical Device Outsourcing Regional Outlook (Revenue, USD Million, 2014 - 2025)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)

Access Press Release of Medical Device Outsourcing Market@ www.grandviewresearch.com/press-release/global-medical-device-outsourcing-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com