Medical Device Manufacturing Outsourcing Market size is set to grow by USD 50.44 billion from 2024-2028, Growing focus of OEMs on reducing medical device manufacturing costs boost the market, AI Role and Impact, Technavio

NEW YORK , Aug. 22, 2024 /PRNewswire/ -- The global medical device manufacturing outsourcing market size is estimated to grow by USD 50.44 billion from 2024-2028, according to Technavio.

The market is estimated to grow at a CAGR of 10.87% during the forecast period. Growing focus of oems on reducing medical device manufacturing costs is driving market growth, with a trend towards increasing m and a activities.

However, stringent regulatory environment poses a challenge. Key market players include Benchmark Electronics Inc., Cadence Inc.

, Celestica Inc., Cirtec Medical, Eurofins Scientific SE, Flex Ltd., Gerresheimer AG, Heraeus Holding GmbH, Integer Holdings Corp.

, Jabil Inc., Kimball Electronics Inc., NN Inc.

, Nortech Systems Inc., Plexus Corp., Sanmina Corp.

, Tata Sons Pvt. Ltd., TE Connectivity Ltd.

, Tecomet Inc., TRICOR Systems Inc., and West Pharmaceutical Services Inc.

. Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report Market Driver The medical device manufacturing outsourcing market is characterized by a high level of competition among numerous global, regional, and local players. To gain an advantage through inorganic growth, companies are actively engaging in mergers and acquisitions (M&A).

The M&A activity in this market is robust, with a significant number of transactions taking place recently. Buyers use M&A as a key marketing strategy to expand their product offerings, enter new markets, and c.