The global medical device outsourcing market size is expected to reach USD 210.5 billion by 2026, according to a new report by Grand View Research, Inc. It is anticipated to progress at a CAGR of 10.5% during the forecast period. Rising demand for advanced products and the trend of offshoring is fueling the growth.
Regulatory bodies emphasize on the quality of the healthcare devices provided to the public, encouraging industry players to offer various services like regulatory consulting. For example, the European Medical Device Regulation undertake special spontaneous inspection of outsourced products to test the quality as well as conformity with standards.
Contract manufacturers, especially in developed countries like U.S., European Union (EU) nations, and Japan, comply with international standard for quality management system, which makes them a preferred option as compared with contract manufacturers in India and China. However, regulatory changes anticipated in the developing countries ensure compliance by contract manufacturers. Emphasis on regulatory compliance is expected to boost the growth of consulting services such as remediation, compliance, and Quality Management Systems (QMS), thereby contributing to the growth of global medical device outsourcing market.
Request a Sample Copy of the Global Medical Device Outsourcing Market Research Report @ www.grandviewresearch.com/industry-analysis/medical-device-outsourcing-market/request/rs1
Also, the budget scrutiny in developed countries, pricing pressure, and changes in reimbursement schemes are some of the major factors anticipated to increase the adoption of cost containment measures by the Original Equipment Manufacturers (OEM). This trend is expected to boost the medical device outsourcing to emerging countries like India and China. Export infrastructure, low cost labor, artificially low currency value, and government incentives for local manufacturers, especially in China; are some of the benefits offered by the contract manufacturers in emerging countries.
Further key findings from the study suggest:
Have Any Query? Ask Our Experts @ www.grandviewresearch.com/inquiry/713/ibb
Grand View Research has segmented the global medical device outsourcing market based on service, application, and region:
Medical Device Outsourcing Service Outlook (Revenue, USD Billion, 2015 – 2026)
Medical Device Outsourcing Application Outlook (Revenue, USD Billion, 2015 – 2026)
Medical Device Outsourcing Regional Outlook (Revenue, USD Billion, 2015 – 2026)
Browse Related Report:
Powered Surgical Instruments Market: www.grandviewresearch.com/industry-analysis/powered-surgical-instruments-market
Open MRI Systems Market: www.grandviewresearch.com/industry-analysis/open-mri-systems-market
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Media ContactCompany Name: Grand View Research, Inc.Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.Email: Send EmailPhone: 1-415-349-0058, Toll Free: 1-888-202-9519Address:201, Spear Street, 1100 City: San FranciscoState: CaliforniaCountry: United StatesWebsite: https://www.grandviewresearch.com/industry-analysis/medical-device-outsourcing-market