DUBLIN – (BUSINESS WIRE) – The “market for the outsourcing of medical devices by device type (IVD (equipment, consumables), diabetes, respiratory, cardiovascular, personal care, endoscopy, dentistry, ophthalmology, devices) class of devices, services, procedures – APAC forecast up 2026 “report was added ResearchAndMarkets.com Offer.
The Asia-Pacific outsourced medical device manufacturing market is projected to reach US $ 56.2 billion by 2026, down from US $ 29.3 billion in 2021, and is expected to grow at an annual rate of 13.9% over the forecast period.
The medical device market outsourced to the Asia-Pacific region is mainly driven by the overall growth of the medical device market, largely due to increasing disease prevalence, life expectancy, and the geriatric population. Technological advances have led end users to revise or update their manufacturing systems. Since this is an expensive process, they are trying to outsource the contract manufacturing.
However, market growth is being hampered by the increasing consolidation of the medical device market. To develop their own manufacturing capabilities and save costs, larger companies are focusing on recruiting smaller companies and CMOs themselves. This can affect overall market growth to some extent.
“The cardiovascular segment is expected to see the fastest growth over the forecast period.”
Based on device type, the Asia-Pacific outsourced medical device manufacturing market is largely divided into IVD devices, diagnostic imaging devices, cardiovascular devices, drug delivery devices, orthopedic devices, respiratory devices, ophthalmic devices, surgical devices, diabetes care devices, and dental devices, Endoscopy devices, gynecology / urology devices, personal care devices, neurology devices, and other devices.
The cardiovascular segment is expected to show the fastest growth over the forecast period. With the increasing spread of cardiovascular diseases, the demand for medical products for the treatment of cardiovascular diseases will continue to grow. At the same time, the complexity of the devices will follow a similar trend.
They are becoming smaller, contain more components made of different materials, require strict tolerance analyzes and require innovative packaging and sterilization solutions. As a result, not all OEMs have innovative and sophisticated product manufacturing capabilities, which increases the demand for outsourced medical device manufacturing.
“The device development and manufacturing services segment had the largest share of the outsourced manufacturing market for APAC medical devices in 2020.”
Based on the service, the Asia Pacific Medical Device Manufacturing Market is segmented into Device Development and Manufacturing Services, Quality Management Services, Packaging and Assembly Services, and other services. In 2020, the device development and manufacturing services segment dominated this market.
The increasing acceptance of contract manufacturing services in the medical device industry, the growth in the medical device market (especially the single-use medical device market) and the improvement in device development and manufacturing capabilities are the main drivers for the large share of the segment.
“The Class III segment is expected to see the fastest growth over the forecast period.”
Based on the device class, the outsourced manufacturing market for APAC medical devices is divided into medical devices of classes I, II and III. The manufacture of Class III devices requires sophisticated and advanced technology because of the risks these devices pose to patients if not used in the intended manner.
The main difference is that in addition to general controls on Class I devices and specific controls on Class II devices, all Class III devices require marketing authorization, including a full scientific review, to ensure their safety and effectiveness. The high growth rate of this market segment is driven by the increasing introduction of innovative technologies by outsourced medical device manufacturers for the production of high-end class III medical devices.
“The manufacturing segment had the largest share of the outsourced medical device manufacturing market in the Asia-Pacific region in 2020.”
Based on the process, the outsourced medical device manufacturing market is roughly divided into production, prototyping, pilot production, design for manufacturing, process evaluation, validation, project management, packaging and assembly. In 2020, the manufacturing segment had the largest share of the outsourced medical device manufacturing market. The large share of this segment is due to the growing number of medical device manufacturers who outsource their production tasks in order to minimize manufacturing costs.
Market dynamics: impact analysis
Market leader
-
Growth in the medical device market
-
Technological advances in medical device modalities
-
Effects of Industry 4.0 on the medical device industry
Market restrictions
-
Consolidation in the medical device market
Market opportunities
-
Growing healthcare spending in the APAC region
-
Increased life expectancy
Market challenges
-
Weighing technological capabilities against costs
Porter’s Five Forces Analysis
Threat from new entrants
-
Growth in the entire medical device industry
-
Industry demand for compact, inexpensive, and non-invasive devices
-
Consolidation
-
Bad funding environment
-
Competent management teams
-
Strict regulatory environment
Threat of replacement
-
Unwantedness of existing portfolios
-
Combination and integration of several technologies
-
Availability of alternatives
Bargaining power of suppliers
-
Large medical device contract manufacturing company
-
Institutional technology providers
-
Essentially innovative technologies
-
Dysfunctional companies
-
Academic inventor
Bargaining power of buyers
-
Few buyers and many sellers
-
Buy-out threat
-
Demand for new pipeline services
-
Point of difference
Competition intensity
-
Similar range of services offered
-
Similar funding source
-
Self-financed large contract manufacturers
-
Heavily fragmented industry
Regulatory analysis
Value chain analysis
Supply chain analysis
Ecosystem mapping
Key markets for import and export (trade analysis for medical devices)
COVID-19 impact
Industry trends
-
Increasing consolidation of Oems and Cmos
-
Growing interest from private equity firms in contract manufacturing for medical devices
-
Outsourcing of contract manufacturing services for medical devices
Company profiles
Key characters
-
Jabil Inc.
-
Nipro Corporation
-
Flex, Ltd.
-
Sanmina Corporation
-
Nordson Corporation
-
Plexus Corp.
-
Te Connectivity Ltd.
-
Kimball Electronics, Inc.
-
Benchmark Electronics Inc.
-
West Pharmaceutical Services, Inc.
Other players
-
Aptar, Inc.
-
Carclo plc
-
Nolato Gw, Inc. (Part of Nolato Ab)
-
Gerresheimer Ag
-
Celestica Inc.
-
Integer Holdings Corporation
-
Nortech Systems, Inc.
-
Consort Medical plc
-
Nemera Development SA
-
Tessy Plastics Corp.
-
Viant Medical
-
Somehow
-
Phillips-Medisize (a Molex company)
-
Technology plex
-
Peter’s technology
Please visit https://www.researchandmarkets.com/r/ffz1h3 for more information on this report
