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| Medical Device Contract Manufacturing Market |
According to research report
the Medical
Device Contract Manufacturing Market is expected to reach USD 91.3
billion by 2024 from an estimated USD 55.0 billion in 2019, at a CAGR of 10.6%.
Factors such as increasing automation in the manufacturing of medical devices
and advanced technologies integrating electronics and medical devices are expected
to drive the growth of the medical device contract manufacturing market. The
increased connectivity and data-gathering capabilities of these technologies
make it possible to build high-volume, regulation-compliant manufacturing
processes with efficient inventory and production management. With the
increasing adoption of Industry 4.0 technologies in manufacturing critical and
sophisticated medical devices, the medical device contract manufacturing market
is expected to grow significantly during the forecast period.
Read More: https://www.marketsandmarkets.com/PressReleases/medical-device-contract-manufacturing.asp
Market growth is largely driven by the rising global
disease prevalence, life expectancy, and geriatric population. Technological
advancements have prompted end users to overhaul or update their manufacturing
systems. As this is a costly process, they look to contract manufacturing.
The medical device contract manufacturing market is
highly fragmented with the top 15 companies accounting for approximately 25% of
the total market. As of 2018, Flex, Ltd. (Singapore) and Jabil, Inc. (US)
together accounted for approximately 10% of the global medical device contract
manufacturing market.
Jabil Inc. (US) was
the leader in the medical device contract manufacturing market in 2018. The
company offers a focused range of products such as diagnostic devices, diabetes
care devices, ophthalmology devices, pharmaceutical drug delivery devices, and
consumables for medical devices and services such as additive manufacturing,
contract manufacturing, quality management services, and final goods assembly
services. It also offers advanced manufacturing technologies such as electronic
manufacturing services and automation in a number of manufacturing facilities
worldwide such as Singapore, Mexico, China, and the US, among others. The company
also serves some of the top companies in other domains, such as Apple Inc.,
Cisco Systems Inc., Hewlett-Packard Company, Keysight Technologies, LM Ericsson
Telephone Company, NetApp Inc., Nokia Networks, SolarEdge Technologies Inc.,
Valeo S.A., and Zebra Technologies Corporation that added to its brand
recognition. Some of the key customers of the company for contract
manufacturing services are Abaxis, Inc. (US), Ulthera, Inc. (US), and Antares
Pharma Inc. (US). Jabil focuses on collaborating with the major pharma and
medical device companies for contract manufacturing. For instance, in September
2018, the company collaborated with Johnson & Johnson for manufacturing
medical devices.
Get More Details about
Key Players: https://www.marketsandmarkets.com/ResearchInsight/medical-device-contract-manufacturing-market.asp
Flex
Ltd. (Singapore) was
the second-leading player in the medical device contract manufacturing market
in 2018. The company is predominantly known
for its expertise in the electronics segment
and has been contracted by some of the major players in the electronics
industry. Some of the key customers of the company are Alimera Sciences, Inc.
(US) and Cellnovo Limited (France). The company focuses on agreements and
partnerships to strengthen its services portfolio in the medical devices and
other healthcare segments. For instance, in October 2018, Flex partnered with
Novo Nordisk (Denmark) to develop digital health solutions for diabetes
patients. 
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