U.S. Medical Device Outsourcing Market Worth $27.8 Billion By 2022

November 2015 | Report Format: Electronic (PDF)

The U.S. medical device outsourcing market is expected to reach USD27.8billion by 2022, according to a new report by Grand View Research Inc. Increasing geriatric population base, surgical procedures and demand for cost curbing tools are some key growth drivers for the U.S. medical device outsourcing market. 

The medical device industry has become competitive and categories such as coronary stents, orthopedic devices, and wound care are moving towards maturity. As high-impact scientific innovation in the above categories is difficult to identify, smaller companies are gaining market share by offering low prices and introducing innovative business models. 

Due to the convergence of mounting challenges and changing market dynamics, many medical device manufacturers have opted for outsourcing business models to reduce cost, manage business risks, and improve service delivery. All the aforementioned facts are hence expected to propel market growth over the forecast period.

 To request a sample copy or view summary of this report, click the link below:
http://www.grandviewresearch.com/industry-analysis/us-medical-device-outsourcing-market

Further key findings from the report suggest:

  • Class II medical devices are expected to dominate the overall market throughout the forecast period, with revenue share estimated at over 48.0% in 2022. Relatively lower associated risk levels compared to class III devices coupled with increasing demand for self care equipment such as powered wheelchairs, infusion pumps etc. are expected to boost the segment growth over the forecast period.

  • Class II medical devices are outsourced for designing, manufacturing, sales and marketing, clinical and advisory services, and after sales services. Maximum numbers of medical equipment fall into this category and they are outsourced due to the requirement of special skilled personnel, cost-effectiveness, and in order to reduce the time to market these equipment.

  • Product design and development was the largest service segment, with revenue share valued at 28.6% in 2014. This dominance is attributed to associate benefits to companies such as aid in innovative product development. Also, the expertise provided by the outsourcing partners, help reduce costs and product development duration, pilot testing, and commercialization.

  • Key players of this market include Active Implants Corporation LLC, Accellent Inc., MDMI Technologies Inc., Avail Medical Products Omnica Corporation, Kinetics Climax, Inc, and Teleflex Medical OEM.

  • Market participants are striving to gain competitive advantage by providing products and services across broader portfolio such as cardiac rhythm management, cardiac surgery, orthopedics and endoscopy.

  • For Example, in March 2015 Teleflex Medical OEM added balloon catheter manufacturing technology to its portfolio of in-house capabilities. New product offerings include compliant, semi-compliant and non-compliant medical balloons for a variety of coronary, peripheral and neurovascular applications.

  • Expansion of distribution network across North America, is also likely to support key players increase market penetration

Grand View Research has segmented the U.S. medical device outsourcing market on the basis of application and service:

U.S. Medical Device Outsourcing Application Outlook (Revenue, USD Million, 2012 - 2022)

  • Class I

  • Class II

  • Class III

U.S. Medical Device Outsourcing Services Outlook (Revenue, USD Million, 2012 - 2022)

  • Regulatory Consulting

  • Product Design and Development

  • Product Testing

  • Product Implementation

  • Product Upgrade

  • Product Maintenance

Request Sample
Request for Customization

Choose License Type:

Single User - $4,950
Multi User - $7,950
Enterprise User - $9,950

Special Pricing & Discounts

Avail customized purchase options to meet your research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

Why Choose Us

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert. Request for a free product review before report purchase.

  • Custom research service

    Custom research service

    Speak to the report author to design an exclusive study to serve your research needs.

  • Quality assurance

    Quality assurance

    A testimonial for service excellence represented in the form of BBB "A" Accreditation.

  • BBB Rating dandb
  • Information security

    Information security

    Your personal and confidential information is safe and secure.

  • BOA