According to the new market research report " Medical Device Outsourced Manufacturing Market by Device Type (IVD (Equipment, Consumable), Diabetes, Respiratory, Cardiovascular, Personal Care, Endoscopy, Dental, Ophthalmology, Devices) Class of Device, Services, Procedure - APAC Forecast to 2026", published by MarketsandMarkets™, the APAC Medical Device Outsourced Manufacturing Market is projected to reach USD 56.2 billion by 2026 from USD 29.3 billion in 2021 and is expected to grow at a CAGR of 13.9% during the forecast period.
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The Asia
Pacific market is mainly driven by the overall growth of the
medical devices market, mainly due to the rising disease prevalence, life
expectancy, and geriatric population. Technological advancements have prompted
end users to overhaul or update their manufacturing systems. As this is a
costly process, they look to outsource contract manufacturing.
However, market growth is impeded by the growing consolidation
in the medical devices market. To develop their own manufacturing capabilities
and save costs, Larger players are focusing on acquiring smaller players and
CMOs themselves. This may affect the overall market growth to a certain extent.
The IVD devices
segment accounted for the largest share of Asia Pacific medical device
outsourced manufacturing market in 2020
Based on device type, the Asia Pacific market is
broadly segmented into IVD devices, diagnostic imaging devices, cardiovascular
devices, drug delivery devices, orthopedic devices, respiratory care devices,
ophthalmology devices, surgical devices, diabetes care devices, dental devices,
endoscopy devices, gynecology/urology devices, personal care devices, neurology
devices, and other devices. In 2020, the IVD devices segment accounted for the
largest share of the Asia
Pacific market. The large share of this segment can be
attributed to the increasing volume of IVD tests performed globally, increasing
availability of IVD kits and reagents in the market, a growing number of
hospitals and clinical laboratories in developing countries, automation and
technological advancements in instruments with high-throughput capabilities,
high demand for IVD tests in the COVID-19 pandemic, and advances in life
science research.
Class II medical
devices segment accounted for the largest share of APAC market in 2020.
Based on the class of device, the medical device outsourced
manufacturing market is segmented into Class I, Class II, and Class III medical
devices. In 2020, the Class II medical devices segment accounted for the
largest share of the Asia
Pacific market. The large share of this segment can be
attributed to the large number of medical devices outsourced that fall under
this device class and the utilization of a higher volume of these devices by
end users and caregivers in the healthcare industry.
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In 2020, device development and manufacturing services segment
accounted for the largest share of the Asia Pacific market
Based on service, the Asia Pacific medical device
outsourced 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 adoption of contract
manufacturing services in the medical device industry, growth in the medical
devices market (especially in the single-use disposable medical devices
market), and improving device development and manufacturing capabilities are
the major factors responsible for the large share of this segment.
In 2020, production
segment accounted for the largest share of Asia Pacific medical device
outsourced manufacturing market
Based on process, the Asia Pacific market is
broadly segmented into production, prototyping, pilot production, design for
manufacturing, process evaluation, validation, project management, packaging,
and assembly. In 2020, the production segment accounted for the largest share
of the market. The large share of this segment can be attributed to the growing
number of medical device companies outsourcing their production tasks to
minimize manufacturing costs.
China is
expected to witness fastest growth during the forecast period of 2021–2026.
The Asia
Pacific medical device outsourced manufacturing market, by
country, has been segmented into China, Japan, Malaysia & Singapore, India, Australia & New Zealand, South Korea,
and the Rest of APAC. China is
expected to witness fastest growth during the forecast period of 2021–2026. China's fastest
growth is mainly due to the lower cost of raw materials and labor in the
country than in developed countries. The increasing demand for medical devices
due to improving healthcare infrastructures, adoption of technologically
advanced products, and increasing awareness of diagnosis are also expected to
drive the growth of this market.
The prominent players in this medical device outsourced
manufacturing market are Flex, Ltd. (Singapore), Jabil, Inc. (US), TE
Connectivity, Ltd. (Switzerland),
Sanmina Corporation (US), Nipro Corporation (Japan), Celestica International (Canada),
Plexus Corporation (US), Benchmark Electronics, Inc. (US), Integer Holdings
Corporation (US), Gerresheimer Ag (Germany), West Pharmaceutical
Services, Inc. (US), Nortech Systems, Inc. (US), Consort Medical PLC (UK),
Kimball Electronics Inc. (US), and Teleflex Incorporated (US), Nordson
Corporation (US), Tecomet, Inc. (US), SMC Ltd. (US), Nemera (France),
and Tessy Plastics Corporation (US), among others.
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