According to Meticulous Research®, the medical device contract manufacturing market , is set to reach $171.19 billion by 2031, with a CAGR of 9.9% from 2024 to 2031. The market growth is driven by several factors, including the increasing outsourcing trend, technological advancements in manufacturing, and the expanding medical device and IVD industries.

Outsourcing has become a strategic move for many companies, allowing them to focus on core activities while leveraging the expertise of contract manufacturers. Technological innovations are enhancing manufacturing processes, leading to more efficient production and advanced medical devices. The rise in chronic diseases and the growing adoption of biologic drugs are driving demand for drug delivery devices, which are expected to grow the fastest.

The drug delivery devices segment, including auto-injectors and wearable pumps, is anticipated to experience the highest growth due to advancements in technology and increasing patient demand. The market is segmented by device types, such as IVD devices, imaging devices, and cardiovascular devices. Moderate-risk medical devices are projected to hold the largest market share, driven by high outsourcing rates and increased demand for products like syringes and catheters.

Design and development services are expected to see significant growth, with a projected CAGR of 11.7%. This growth is attributed to the need for advanced technical capabilities and the trend towards outsourcing. North America, especially the U.S., is expected to lead the market due to its advanced infrastructure, high demand for medical devices, and strong presence of contract manufacturers.

Key Players

The key players operating in the global medical device contract manufacturing market are Jabil Inc. (U.S.), Gerresheimer AG (Germany), Nordson Corporation (U.S.), Teleflex Incorporated (U.S.), Celestica Inc. (Canada), Plexus Corp (U.S.), SteriPack Group Ltd (U.S.), Nortech Systems, Inc. (U.S.), Invetech Pty. Ltd. (Australia), Flextronics International, LTD. (Singapore), Benchmark Electronics Inc. (U.S.), Integer Holdings Corporation (U.S.), and STRATEC SE (Germany).

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Key questions answered in the report-

• What is the current value of revenue generated by medical device contract manufacturing services across the globe?
• At what rate is the demand for global medical device contract manufacturing services projected to grow for the next 5-7 years?
• What is the historical market size and growth rate for medical device contract manufacturing services across the globe?
• What are the major factors impacting the growth of this market at the global and regional levels? What are the major opportunities for existing market players and new entrants in the market?
• Which segments are creating major traction for the vendors in this market in terms of device, risk type, service, application, and end user?
• What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the vendors operating in the global medical device contract manufacturing market?
• Who are the major players in the global medical device contract manufacturing market? And what are their specific services offered in the industry?
• What recent developments have taken place in the global medical device contract manufacturing market, and how these strategic developments are creating a global impact in this market?

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