U.S. Medical Device Outsourcing Market Is Anticipated To Grow Swiftly Due To Increasing Demand For Cost Containment Till 2022: Grand View Research, Inc.

The U.S. medical device outsourcing market is expected to reach USD27.8billion by 2022, according to a new report by Grand View Research Inc. Increasing geriatric population base, surgical procedures and demand for cost curbing tools are some key growth drivers for the U.S. medical device outsourcing market. 

The medical device industry has become competitive and categories such as coronary stents, orthopedic devices, and wound care are moving towards maturity. As high-impact scientific innovation in the above categories is difficult to identify, smaller companies are gaining market share by offering low prices and introducing innovative business models. 

Due to the convergence of mounting challenges and changing market dynamics, many medical device manufacturers have opted for outsourcing business models to reduce cost, manage business risks, and improve service delivery. All the aforementioned facts are hence expected to propel market growth over the forecast period.

Browse full research report on U.S. Medical Device Outsourcing Market: http://www.grandviewresearch.com/industry-analysis/us-medical-device-outsourcing-market

Further key findings from the report suggest:

  • Class II medical devices are expected to dominate the overall market throughout the forecast period, with revenue share estimated at over 48.0% in 2022. Relatively lower associated risk levels compared to class III devices coupled with increasing demand for self care equipment such as powered wheelchairs, infusion pumps etc. are expected to boost the segment growth over the forecast period.
  • Class II medical devices are outsourced for designing, manufacturing, sales and marketing, clinical and advisory services, and after sales services. Maximum numbers of medical equipment fall into this category and they are outsourced due to the requirement of special skilled personnel, cost-effectiveness, and in order to reduce the time to market these equipment.
  • Product design and development was the largest service segment, with revenue share valued at 28.6% in 2014. This dominance is attributed to associate benefits to companies such as aid in innovative product development. Also, the expertise provided by the outsourcing partners, help reduce costs and product development duration, pilot testing, and commercialization.
  • Key players of this market include Active Implants Corporation LLC, Accellent Inc., MDMI Technologies Inc., Avail Medical Products Omnica Corporation, Kinetics Climax, Inc, and Teleflex Medical OEM.
  • Market participants are striving to gain competitive advantage by providing products and services across broader portfolio such as cardiac rhythm management, cardiac surgery, orthopedics and endoscopy.
  • For Example, in March 2015 Teleflex Medical OEM added balloon catheter manufacturing technology to its portfolio of in-house capabilities. New product offerings include compliant, semi-compliant and non-compliant medical balloons for a variety of coronary, peripheral and neurovascular applications.
  • Expansion of distribution network across North America, is also likely to support key players increase market penetration
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/medical-devices  

Grand View Research has segmented the U.S. medical device outsourcing market on the basis of application and service:

U.S. Medical Device Outsourcing Application Outlook (Revenue, USD Million, 2012 - 2022)
  • Class I
  • Class II
  • Class III
U.S. Medical Device Outsourcing Services Outlook (Revenue, USD Million, 2012 - 2022)
  • Regulatory Consulting
  • Product Design and Development
  • Product Testing
  • Product Implementation
  • Product Upgrade
  • Product Maintenance
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


For more information: http://www.grandviewresearch.com

Comments

Post a Comment

Popular posts from this blog

Industrial Display Market Is Predicted To Grow Swiftly Due To Growing Complexity Of Industrial Operations & Processes Till 2025: Grand View Research, Inc.

Image
The global  industrial display market   is expected to reach USD 7.26 billion by 2025, according to a new report by Grand View Research, Inc. Due to the growing complexity of industrial operations and processes, the use of industrial displays has become crucial to simplify operational tasks and provide technologically advanced features. Human Machine Interfaces (HMIs) and other displays possess the ability to respond to the changing production demands and closely monitor the production processes, thereby decreasing the downtime and increasing workforce efficiency. A well-designed HMI enables line of sight into the system, which allows the operator to control or maintain the machine and enhance productivity. OLED displays are expected to gain prominence on account of their enhanced picture quality and low power consumption. The technology is widely used in digital signage and display boards to indicate the operational status at factory floors. Solution providers ...
Read more

Fiber Optic Connector Market Is Projected To Witness Growth Based On Increased Demand From Healthcare, Railway,Defense & Aerospace Sector Till 2025:Grand View Research,inc.

The global  fiber optic connector market  is expected to reach USD 5.9 billion by 2025, according to a new report by Grand View Research, Inc. The fiber optics segment is expected to grow, significantly, over the forecast period. Fiber optic connectors have huge potential to be incorporated into a wide range of applications in the healthcare, railway, defense & aerospace, and oil & gas sectors. The technology is under constant R&D and aims to develop low-cost applications and technological solutions for the mass market. The fiber optic technology has gained prominence over the past few years, owing to the persistent research & development activities and the escalating demand from high bandwidth communication and data services. The growing penetration of the fiber optics technology is encouraging manufacturers and suppliers to invest in research & development for developing better products. Researchers are focusing on innovating reliable and cost-e...
Read more

Industrial Microwave Heating Equipment Market Is Witnessing Significant Growth Owing To Increasing Efficiency Of Industrial Microwave Heating Devices 

Image
The global  industrial microwave heating equipment market  size is expected to reach USD 1.4 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.6% during the forecast period. Increasing adoption of magnetrons and RF solid state amplifiers in various end-use industries such as food, paper, plastic, and wood and derivatives is anticipated to positively affect market growth. These high-efficiency products are poised to witness significant rise in demand in the coming years owing to their long operating life, low maintenance requirements, and low power consumption. Surging demand for RF solid state amplifiers is estimated to drive the overall market. They are likely to replace magnetrons over the forecast period due to benefits they offer, such as enhanced operating life, high precision output power control, frequency tuning, and fast frequency hopping. Moreover, the product has undergone several technological advancements over...
Read more