U.S. Medical Device Outsourcing Market Worth $59.0 Billion By 2030
U.S. Medical Device Outsourcing Industry Overview
The U.S. medical device outsourcing market size was valued at USD 23.3 billion in 2021 and is anticipated to exhibit a compound annual growth rate (CAGR) of 11.2% over the forecast period. The COVID-19 pandemic in 2020 had delayed medical procedures; thereby, creating a challenging environment for the manufacturers. Many companies had temporarily ceased their research & development activities due to complete lockdowns. This had led to a severe disruption in the supply chain, which caused the shortages & a slowing down of production. The recovery of the market has started as the earlier shortage in medical supply is overcome when market entry barriers are reduced. The increased production of test kits and diagnostic systems has also helped in the recovery.
Since February 2020, the FDA has authorized over 250 Emergency Use Authorizations (EUAs). The EUAs cover in vitro diagnostics and other testing kits, PPE kits and ventilators, and ECMO devices, among others. Diagnostic tests and kits have played an essential role in fighting against the spread of COVID-19. However, these kits along with numerous medical products were imported from low-cost manufacturing countries, such as China, India, and Germany. Growing complexities in product engineering, coupled with an increase in the number of small-sized manufacturers, are expected to present this market with future growth opportunities. The rapidly increasing geriatric population, which is prone to chronic medical conditions, is also anticipated to drive market growth by widening the target patient base.
Gather more insights about the market drivers, restrains and growth of the Global U.S. Medical Device Outsourcing market
Furthermore, associated benefits, such as reduction in production cost and focus on core competencies by the organizations, are expected to propel the market growth over the forecast period. The medical device industry is currently facing challenging headwinds. Sharp cutbacks in public spending in the U.S. are a major issue faced by medical device manufacturers. Increasing prices, profitability pressure, growing competition coupled with a high degree of industry maturity has a great impact on this market. Amendments in the ISO standards are expected to boost the demand for quality assurance and regulatory affairs service providers in the U.S. and Europe region as Small & Medium-sized Enterprises (SMEs) would require third-party assistance to comply with new ISO standards.
Browse through Grand View Research's Medical Devices Industry Research Reports.
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U.S. Medical Device Outsourcing Market Segmentation
Grand View Research has segmented the U.S. medical device outsourcing market based on service:
U.S. Medical Device Outsourcing Market Service Outlook (USD Million, 2018 - 2030)
- Quality Assurance
- Regulatory Affairs Services
- Product Design and Development Services
- Product Testing & Sterilization Services
- Product Implementation Services
- Product Upgrade Services
- Product Maintenance Services
- Contract Manufacturing
U.S Medical Device Outsourcing Market Application Outlook (USD Million, 2018 - 2030)
- Cardiology
- Diagnostic imaging
- Orthopedic
- IVD
- Ophthalmic
- General and plastic surgery
- Drug delivery
- Dental
- Endoscopy
- Diabetes care
- Others
U.S. Medical Device Outsourcing Market Class Outlook (USD Million, 2018 - 2030)
- Class I
- Class II
- Class III
List of Key Players of U.S. Medical Device Outsourcing Market
- Integer Holdings Corporation
- Avail Medsystems, Inc.
- Active Implants.
- Omnica Corporation
- Teleflex Incorporated
- Cantel Medical Corp. (STERIS plc)
- SGS SA
- Laboratory Corporation of America Holdings
- Eurofins Scientific
- Pace Analytical Services, Inc.
- Intertek Group plc
- WuXi AppTec
- IQVIA Inc.
- Charles River Laboratories
- ICON plc.
- PAREXEL International Corporation
- Medpace
- Premier Research
- North American Science Associates, LLC
- Sterigenics U.S., LLC (GTCR, LLC)
Market Share Insights
- September 2019: Active Implants received breakthrough device designation from the FDA for their artificial knee meniscus product, designed for patients that undergo meniscus surgery and still have persistent pain.
Key Companies profiled:
Some of the players operating in the U.S. medical device outsourcing market are:
- Integer Holdings Corporation
- Avail Medsystems, Inc.
- Active Implants.
- Omnica Corporation
- Teleflex Incorporated
- Cantel Medical Corp. (STERIS plc)
- SGS SA
- Laboratory Corporation of America Holdings
- Eurofins Scientific
- Pace Analytical Services, Inc.
- Intertek Group plc
- WuXi AppTec
- IQVIA Inc.
- Charles River Laboratories
- ICON plc.
- PAREXEL International Corporation
- Medpace
- Premier Research
- North American Science Associates, LLC
- Sterigenics U.S., LLC (GTCR, LLC)
Order a free sample PDF of the U.S. Medical Device Outsourcing Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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