The global medical device contract manufacturing market is anticipated to grow at a double digit CAGR during the forecast period. Medical device contract manufacturing organization provide services to outsource manufacturing of devices that enables original equipment manufacturers (OEMs) to reduce cost of product, product packaging and transport of product. Contract manufacturing organizations (CMOs) are selected based on the capabilities of service provided in low cost, high quality and in speculated time. With increasing need for medical devices in hospitals and meet growing demand of hospitals OEMs are collaborating with Medical device contract manufacturing organization to meet this growing need.
Market Industry Reports (MIR) has published a new report titled "Medical Device Contract Manufacturing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030." According to the report, the global medical device contract manufacturing market is estimated to be over US$ 48 Bn in 2017. It is anticipated to grow at a CAGR of 8.5% from 2019 to 2030.
Major Key Players of the Medical Device Contract Manufacturing Market are:
Flextronics International, Benchmark Electronics, Jabil Inc., Integer Holdings Corporation (Greatbatch), West Pharmaceutical Services, Inc., Tecomet, Inc., Nortech Systems, TE Connectivity (Creganna Medical), Forefront Medical Technologies, Nordson Corporation and other prominent players.
Read More @ http://www.sbwire.com/press-releases/medical-device-contract-manufacturing-market-prospects-outlook-2019-2030-and-top-key-players-flextronics-benchmark-electronics-jabil-1279022.htm
Market Industry Reports (MIR) has published a new report titled "Medical Device Contract Manufacturing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030." According to the report, the global medical device contract manufacturing market is estimated to be over US$ 48 Bn in 2017. It is anticipated to grow at a CAGR of 8.5% from 2019 to 2030.
Major Key Players of the Medical Device Contract Manufacturing Market are:
Flextronics International, Benchmark Electronics, Jabil Inc., Integer Holdings Corporation (Greatbatch), West Pharmaceutical Services, Inc., Tecomet, Inc., Nortech Systems, TE Connectivity (Creganna Medical), Forefront Medical Technologies, Nordson Corporation and other prominent players.
Read More @ http://www.sbwire.com/press-releases/medical-device-contract-manufacturing-market-prospects-outlook-2019-2030-and-top-key-players-flextronics-benchmark-electronics-jabil-1279022.htm
The global medical device contract manufacturing market is driven by focus of market players in introducing new and innovative products, rising geriatric population, need for cost effective products, rising cost for hospitals and increasing demand for medical devices are some of the major factors driving the market. Moreover, Polymer Science and Engineering Department of the University Of Massachusetts (UMASS) are offering several programs to enhance medical device industry and help to generate skilled workers. However, high cost of medical devices and stringent government policy related to medical device manufacturing is likely to restrain the market to certain extent.
The population of geriatric population across the world has grown rapidly over the past several decades. Moreover, this growth has witnessed an unprecedented rate in recent times. In 2016, it was approximated that the population of individuals aged 65 years or older was 8.5% or 617 million of the entire world population. Furthermore, it is projected that the figure will witness an increment to 17% i.e. 1.6 billion by the end of 2050. Such rapid growth of geriatric population is anticipated to present a remunerative growth opportunity for the global medical device contract manufacturing market in the coming times. Since, growing age brings about several ailments associated with arthritis and joints replacement.
The population of geriatric population across the world has grown rapidly over the past several decades. Moreover, this growth has witnessed an unprecedented rate in recent times. In 2016, it was approximated that the population of individuals aged 65 years or older was 8.5% or 617 million of the entire world population. Furthermore, it is projected that the figure will witness an increment to 17% i.e. 1.6 billion by the end of 2050. Such rapid growth of geriatric population is anticipated to present a remunerative growth opportunity for the global medical device contract manufacturing market in the coming times. Since, growing age brings about several ailments associated with arthritis and joints replacement.
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