Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Medical device contract manufacturing is the system by which a manufacturing company makes medical devices or components of medical devices that can be further sold by another company. Medical device contract manufacturers frequently specialize in a specific process or activity and can provide expertise based on their manufacturing experience. Product concept and development, process validation and verification, production, or highly specialized manufacturing, and packaging are some of the services provided to customers, clients, and inventors of medical devices. They can also handle the supply and delivery of goods to the end customer. Due to rising disease prevalence, geriatric population, and the life expectancy are the major factors driving the growth of the medical device contract manufacturing market.
Technological advancement has prompted end users to update their manufacturing systems. As this is a costly process they look to contract manufacturing. In addition to this, the COVID-19 outbreak has rapidly increased the adoption of advanced diagnostics and patient care devices for better treatment management. The emergence of COVID-19 pandemic has affected the medical device contract manufacturing market in the positive a well as negative way. The production cycles and supply chains of various major industry was disrupted. The medical device industry has faced number of challenges in eradicating the pandemic, as the number of infections shows no signs of subsiding.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global medical device contract manufacturing market. In addition, complete analysis of changes on the global medical device contract manufacturing market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. Due to the emergence of COVID-19 the global medical device contract manufacturing market had a positive as well as negative impact as the major businesses worldwide was affected as production cycles and supply chains across industries was disrupted due to the strictly imposed lockdown worldwide. Also major players are developing their manufacturing capabilities to save costs focus on the acquisition of smaller players and CMOs themselves.
The microbial air sampler market comprises of different market segment like by device type, services type, product type, class of device and geography.
The global medical device contract manufacturing is available in market according different type including IVD devices {IVD consumables, IVD equipment}, diagnostic imaging devices, cardiovascular devices, drug delivery devices {infusion sets and administration sets, syringes, inhalers, autoinjectors & pen injectors}, orthopedic devices, ophthalmology devices, diabetes care devices, dental devices, endoscopy devices, respiratory care devices, surgical devices, gynecology/urology devices, personal care, neurology devices. The IVD devices segment dominates the market accounting for the largest share of medical device contract manufacturing market in the forecast period. Due to the increasing volume of IVD tests performed globally the segment is expected to continue its dominance in the forecast period. The increasing volume of IVD tests performed growing and number of hospitals & clinical laboratories in developing countries, automation & technological advancements in instruments with high-throughput capabilities, and advances in life sciences research is increasing the demand and availability of IVD kits and reagents globally.
The global medical device contract manufacturing has different service such as device development and manufacturing services, device manufacturing services, process development services, device engineering services, quality management services, packaging validation services, inspection and testing services, sterilization services. The device development and manufacturing services segment dominated the market in the forecast period. Due to increasing adoption of contract manufacturing services in the medical device industry, growth in the medical devices market especially in the single-use disposable medical devices market and manufacturing capabilities and improving device development are the major factors boosting the growth of the segment in the medical device contract manufacturing market.
The global medical device contract manufacturing has various product types such as raw materials, electronics, and finished goods. Raw materials are basic components used in the manufacturing of medical devices and their components. There is a wide range of raw materials available to organizations manufacturing medical technology, including additives, alloys, ceramics, and gels. The electronic manufacturing services may vary from one manufacturer to another and each contract manufacturer may differentiate itself with certain special offerings. The finished goods final shipment of needs to be coordinated in advance. Contract manufacturer willing to maintain stock at their facility can be advantageous. Similarly, a manufacturer who has the flexibility to make JIT shipments or drop ship to individual customers can rapidly increase service levels and customer satisfaction.
The global medical device contract manufacturing market has following class of devices such as Class I, Class II, Class III. The Class II device leads the market due to the large number of medical devices that fall under this device class and their greater utilization as compared to other classes. Due to the COVID-19 outbreak governments has minimized the regulatory compliance on these devices and issued for emergency use authorizations (EUA) for diagnostics and PPE kits, which is boosting the growth of the market.
The medical device contract manufacturing market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). Asia Pacific is expected to witness rapid growth during the forecast period. The lower cost of raw materials & labor compared to the developed countries is contributing to gain major market share in the medical device contract manufacturing market. Also the increasing demand for medical devices, improving healthcare infrastructure, adoption of technologically advanced products, and the presence of less stringent regulations than the developed countries is propelling the growth of the medical device contract manufacturing market in the Asia Pacific region.
The key players in medical device contract manufacturing market are Jabil Inc., Flex Ltd., Plexus Corp., Sanmina Corporation, Integer Holdings Corporation, Celestica Inc., Gerresheimer Ag, Te Connectivity Ltd., Nipro Corporation, West Pharmaceutical Services, Inc., Benchmark Electronics Inc., Recipharm Ab, Kimball Electronics, Inc., Nortech Systems Incorporated, Nemera Development Sa, Viant Medical Holdings, Inc., Tecomet, Inc., Smc Ltd., Phillips-Medisize Corporation, Tessy Plastics Corp, Carclo Plc, Nolato Gw, Inc. (A Part Of Nolato Ab), Mehow, Tekni-Plex and Peter’S Technology among others.
November 2020, Nipro Corporation (Japan) acquired Venari Medical’s (Ireland) exclusive sales rights for a vascular treatment device developed by Venari Medical in Japan and overseas.
October 2020, Nemera (France) acquired Copernicus (Poland) to become a leading patient-centric drug device combination solutions company. This acquisition will bolster the company’s production capabilities and expand its product portfolio.
September 2020, Nipro Corporation established its sales offices in Xi'an, Wuhan, Hefei, and Xiamen. The new offices will further strengthen the company’s sales and service network in China to provide more community-based, meticulous services and respond to the needs of the medical scene, thereby enhancing the presence of the “Nipro brand”.
January 2020, Nipro Asia Pte Ltd. (Singapore) acquired JMI Marketing (Bangladesh) to secure a large market share in Bangladesh’s rapidly growing economy for disposable medical devices, including infusion sets, syringes, and IV catheters.
The report analyses the medical device contract manufacturing market based on by device type, services type, product type, class of device and geography. The global medical device contract manufacturing is available in market according different type including IVD devices {IVD consumables, IVD equipment}, diagnostic imaging devices, cardiovascular devices, drug delivery devices {infusion sets and administration sets, syringes, inhalers, autoinjectors & pen injectors}, orthopedic devices, ophthalmology devices, diabetes care devices, dental devices, endoscopy devices, respiratory care devices, surgical devices, gynecology/urology devices, personal care, neurology devices. The IVD devices segment dominates the market accounting for the largest share of medical device contract manufacturing market in the forecast period. Due to the increasing volume of IVD tests performed worldwide. The global medical device contract manufacturing has different service such as device development and manufacturing services, device manufacturing services, process development services, device engineering services, quality management services, packaging validation services, inspection and testing services, sterilization services. The device development and manufacturing services segment dominated the market in the forecast period. Due to increasing adoption of contract manufacturing services in the medical device industry, growth in the medical devices market especially in the single-use disposable medical devices. The global medical device contract manufacturing has various product types such as raw materials, electronics, and finished goods. Raw materials are basic components used in the manufacturing of medical devices and their components. The global medical device contract manufacturing market has following class of devices such as Class I, Class II, Class III. The Class II device leads the market due to the large number of medical devices that fall under this device class and their greater utilization as compared to other classes. The medical device contract manufacturing market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW).
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