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.
Browse in-depth TOC on "Medical Device
Outsourced Manufacturing Market"
200 – Tables
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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.
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.
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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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