AUG 17,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Medical Devices Outsourcing Market.
Medical Devices Outsourcing Market is estimated to grow from USD 98.2 billion in 2020 to USD 182.7 billion by 2026 at a CAGR of over 10.9% during the forecast period.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Application Trends
Based on application, the global medical devices outsourcing market has been categorized into cardiology, neurology, radiology, anesthesia, orthopedic, ophthalmic, dental, and others.
- Among these, the cardiology segment held the highest market share of more than 20% in 2020 and is estimated to register a healthy CAGR during the review period.
- The surging demand for cardiovascular devices, due to a high prevalence of related medical conditions, is further ascribed to the increased outsourcing of these devices, thereby augmenting the segment growth.
Regional Trends
By region, the Asia Pacific market held the largest market share of more than 40% in 2020 and is estimated to register a healthy CAGR during the forecast timeline due to the easy availability of skilled manpower.
Also, it can be attributed to rising incidence of chronic diseases, presence of key players, and competitive pricing, further proliferates the regional market growth.
Key Players:
- SGS SA (Switzerland),
- Toxikon, Inc. (The U.S),
- Eurofins Scientific (Luxembourg),
- Pace Analytical Services, Inc. (The U.S),
- Intertek Group Plc (UK),
- WuXi AppTec, Inc. (China),
- North American Science Associates, Inc. (The U.S),
- TUV SUD AG (Germany),
- American Preclinical Services (The U.S), and
- Sterigenics International Llc (Italy).
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Medical Devices Outsourcing Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
About Stratview Research
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making. It is a global market intelligence firm providing a wide range of services including syndicated market reports, custom research, and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
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