Global medical device outsourcing to $88.2B by 2025

Key findings

• In the services segment, contract manufacturingis anticipated to be the fastest growing and contributes more than 19.0% of the revenue share by 2025 owing to complete assistance and assurance to the medical device manufacturers
• Class II medical devices are expected to grow at the fastest rate and hold the largest share of the medical devices outsourcing market by 2025
• Cardiology, IVD, and drug delivery are the top performing segments in the therapeutic segment
• Asia Pacific is predicted to contribute higher revenue share for the forecast period

Increasing profitability pressure and growing competition coupled with high degree of industry maturity is expected to impact the sector, seeing the medical device outsourcing market grow to $88.2 billion by 2025. In addition, sharp cutbacks in public spending in major EU regions and the U.S. add to major issues faced by medical devices manufacturers.

The industry is expected to witness significant growth owing to a steep decline in duration for product commercialization by companies in order to gain the advantage of being the first mover.

Product design and development services are anticipated to be one of the most highly availed services by device manufacturers for the forecast period. By opting for this service, manufacturers are expected to benefit in speeding up the time to market, gaining a faster return on investment, thereby supporting growth for this segment.