7.81% CAGR in Medical Device Manufacturing Outsourcing Market from 2021 to 2025|Technavio
Cadence Inc., Celestica Inc., and Eurofins Scientific SE will be among the major market participants.
NEW YORK, Oct. 18, 2021
NEW YORK, Oct. 18, 2021 /PRNewswire/ -- The medical device manufacturing outsourcing market is expected to grow by USD 27.12 billion and record a CAGR of 7.81% from 2021 to 2025, according to the latest market research report by Technavio. The growth can be mainly attributed to the growing focus of OEMs on reducing medical device manufacturing costs.
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Key Players in Medical Device Manufacturing Outsourcing Market
- Cadence Inc: The company offers complete services that range from initial design through manufacturing and full supply chain management for medical devices, life science and industrial products.
- Celestica Inc: The company offers medical device manufacturing through healthcare companies to bring critical medical devices to market.
- Eurofins Scientific SE: The company offers medical device manufacturing outsourcing such as Eurofin medical device testing.
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Medical Device Manufacturing Outsourcing Market 2021-2025: Segmentation
- Raw Materials
- Finished Goods
- Market Landscape
- Class II
- Class III
- Class I
- North America
The medical device manufacturing outsourcing market is driven by the growing focus of OEMs on reducing medical device manufacturing costs, growing complexities in product design and development, and emerging countries as preferred outsourcing destinations for medical device manufacturing.
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Medical Device Manufacturing Outsourcing Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 7.81%
Market growth 2021-2025
USD 27.12 billion
YoY growth (%)
North America, Asia, Europe, and ROW
Performing market contribution
North America at 34%
Key consumer countries
US, China, Germany, Japan, and India
Leading companies, competitive strategies, consumer engagement scope
Cadence Inc., Celestica Inc., Eurofins Scientific SE, Flex Ltd., Integer Holdings Corp., Jabil Inc., Nortech Systems Inc., Sanmina Corp., TE Connectivity Ltd., and Tecomet Inc.
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period
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