CHICAGO, July 15, 2021 /PRNewswire/ — According to the new market research report “Medical Device Contract Manufacturing Market by Device Type (IVD (Equipment, Consumable), Cardiovascular, Diabetes Care, Drug Delivery, Orthopedic, Ophthalmic, Endoscopy Devices), Class of Device (Class I, II, III), & Services – Global Forecast to 2026″, published by MarketsandMarkets™, the global market is estimated to reach USD 113.3 billion in 2026 from USD 65.9 billion in 2021, at a CAGR of 11.5% during the forecast period.
Browse in-depth TOC on “Medical Device Contract Manufacturing Market”
292 – Tables
59 – Figures
361 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=170622851
The key factors driving the growth of the medical device contract manufacturing market include the overall growth of the medical devices market, mainly due to rising disease prevalence, life expectancy, and the geriatric population. Technological advancement has prompted end users to overhaul or update their manufacturing systems. As this is a costly process, they look to contract manufacturing. In addition to this, the COVID-19 outbreak has accelerated the adoption of advanced diagnostics and patient care devices for better treatment management.
However, market growth is impeded by the growing consolidation in the medical devices market. Larger players, to develop their manufacturing capabilities to save costs, focus on the acquisition of smaller players and…
