Here are six trends:
1. The market is expected to reach a value of $27.8 billion by 2022.
2. Due to challenges and changing market dynamics, many medical device manufacturers have opted for outsourcing business models to reduce costs and manage business risks.
3. Key drivers of medical device outsourcing market growth include increasing geriatric population base, surgical procedures and demand for cost curbing tools.
4. Class II medical devices are expected to dominate the overall market throughout the study period, with revenue share estimated at over 48 percent in 2022.
5. Product design and development was the largest service segment, with revenue share valued at 28.6 percent in 2014.
6. Key players of this market include Active Implants, Accellent and MDMI Technologies.
More articles on devices:
Alphatec reports $43M revenue, ‘softer than anticipated’; $160M net loss: 6 key notes
Globus Medical net income jumps 14.8%: 5 things to know
K2M Q3 revenue up 15.5%; net loss at $10.2M: 10 key notes
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 11-13 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
