Innovation in Class III medical devices is on the rise, consequent to the growing development and production of complex products such as pacemakers and implantable medical devices. Medical device companies face challenges in manufacturing Class III devices in high volumes, given the complexity of the assembly and test processes. Furthermore, both the devices and processes must meet regulatory compliance for component traceability and verification, storage, and access.
Industry 4.0
technologies—including cloud computing, machine-to-machine communication, and
cyber-physical systems—enable advanced automation that helps overcome these
production challenges. The increased connectivity and data-gathering
capabilities of these technologies make it possible to build high-volume,
regulation-compliant manufacturing processes with efficient inventory and
production management.
The 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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Market Segmentation:
-
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.
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.
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.
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.
Regional Analysis:
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.
Recent Developments:
- In November 2020, Nipro Corporation
(Japan) acquired Venari Medical’s (Ireland) exclusive sales rights
for a vascular treatment device developed by Venari Medical in Japan and
overseas
- In October 2020, Nemera (France) acquired
Copernicus (Poland) to become a leading patient-centric drug device
combination solutions company. This acquisition will bolster the company’s
production capabilities and expand its product portfolio
- In September 2020, Nipro Corporation
established its sales offices in Xi'an, Wuhan, Hefei, and Xiamen. The new
offices will further strengthen the company’s sales and service network in
China to provide more community-based, meticulous services and respond to
the needs of the medical scene, thereby enhancing the presence of the
“Nipro brand”
- In January 2020, Nipro Asia Pte Ltd.
(Singapore) acquired JMI Marketing (Bangladesh) to secure a large market
share in Bangladesh’s rapidly growing economy for disposable medical
devices, including infusion sets, syringes, and IV catheters
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Top Key Players: -
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.
These
driving growth factors are expected to continue shaping the Medical Device
Outsourced Manufacturing Market as the medical device industry evolves, demands
cost-effective solutions, and seeks to maintain compliance with regulatory
standards while fostering innovation and agility.
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