$33.2B medical device outsourcing market to grow at a CAGR of 11.5% — 5 details

Written by Adam Schrag | March 06, 2017 | Print  |

Having gained traction in recent years, the medical device outsourcing market is expected to grow at a compound annual growth rate of 11.5 percent through 2025, according to Today's Medical Developments.

Here are five things to know:

 

1. Increasing complexities in product engineering and new device manufacturers are driving the medical device outsourcing industry.

 

2. The rising geriatric population increases demand for medical devices, thereby motivating manufacturers to subcontract assembly, packaging and other activities.

 

3. The medical device outsourcing market offers manufacturers regulatory consulting, product design and development, product testing, product implementation, product upgrade and product maintenance.

 

4. General and plastic surgery segment is expected to grow most lucratively in the next seven years because of bone, joint and tissue injuries.

 

5. Asia Pacific controlled over 40 percent of the revenue in 2014.

 

More device articles:
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