Asia Pacific Medical Device Outsourcing Market Size & Outlook
Asia Pacific medical device outsourcing market, 2018-2030 (US$M)
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Asia Pacific medical device outsourcing market highlights
- An overview of the Asia Pacific medical device outsourcing market trends heading towards 2030. The Asia Pacific market generated a revenue of USD 48,968.3 million in 2022.
- The overall growth of the Asia Pacific market from 2022 to 2030. The market is expected to grow at a CAGR of 12.5% from 2023 to 2030.
- A look at the Asia Pacific market revenues per segment in 2022. In terms of segment, contract manufacturing was the largest revenue generating service in 2022.
- The segment witnessing the fastest revenue growth within the market. Quality Assurance is the most lucrative service segment registering the fastest growth during the forecast period.
- An overview of Asia Pacific market per country. Country-wise, India is expected to register the highest CAGR from 2023 to 2030.
Asia Pacific data book summary
| Market revenue in 2022 | USD 48,968.3 million |
| Market revenue in 2030 | USD 125,897.1 million |
| Growth rate | 12.5% (CAGR from 2022 to 2030) |
| Largest segment | Contract manufacturing |
| Fastest growing segment | Quality Assurance |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Quality Assurance, Regulatory Affairs Services, Product Design and Development Services, Product Testing & Sterilization Services, Product Implementation Services, Product Upgrade Services, Product Maintenance Services, Contract Manufacturing |
| Key market players worldwide | SGS AG, Labcorp Holdings Inc, Eurofins Scientific SE, Pace Analytical Services, Intertek Group PLC, Wuxi AppTec Co Ltd, Sotera Health Co Ordinary Shares, Charles River Laboratories International Inc, Medical Device Testing Services, FREYR Battery Inc, PAREXEL, Accell, Genpact Ltd, Criterium Inc., Promedica International, Medpace Holdings Inc, Icon PLC, IQVIA Holdings Inc, Integer Holdings Corp, Tecomet, Jabil Inc, Flex Ltd, Celestica Inc Ordinary Shares (Subordinate Voting), Sanmina Corp, Plexus Corp, Molex, Steris PLC, West Pharmaceutical Services Inc, NAMSA, TUV SUD, RJR Consulting, Mandala International, Global Regulatory Partners, Emergo Group, BioTeknica Engineering & Regulatory Services |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 41.7% of the global medical device outsourcing market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- MEA is the fastest growing regional market and is projected to reach USD 16,457.1 million by 2030.
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Medical Device Outsourcing Market Scope
Medical Device Outsourcing Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific medical device outsourcing market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to medical device outsourcing market will help companies and investors design strategic landscapes.
Contract manufacturing was the largest segment with a revenue share of 54.74% in 2022. Horizon Databook has segmented the Asia Pacific medical device outsourcing market based on quality assurance, regulatory affairs services, product design and development services, product testing & sterilization services, product implementation services, product upgrade services, product maintenance services, contract manufacturing covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific medical device outsourcing market held the largest share 41.3% in 2023 and is expected to witness lucrative growth owing to the availability of several opportunities in this region, especially in Japan, China, and India. Some of the factors such as improved regulatory framework, high-cost savings, a large number of clinical trials conducted in the region and increase in the number of medical device companies venturing into the region are expected to drive the Asia Pacific market.
Furthermore, availability of a skilled workforce within the region at a lower cost compared to the U.S. is another factor that is anticipated to propel the market growth. Furthermore, outsourcing of certain services such as business process outsourcing, knowledge process outsourcing, clinical data management, regulatory writing, pharmacovigilance, and medical coding has witnessed an increase in the past 5 years. These services are majorly outsourced to countries such as the Philippines, India, Korea, Japan, Malaysia, Singapore, and Australia.
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Target buyers of Asia Pacific medical device outsourcing market databook
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Our clientele includes a mix of medical device outsourcing market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific medical device outsourcing market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific medical device outsourcing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific medical device outsourcing market size, by country, 2018-2030 (US$M)
Asia Pacific Medical Device Outsourcing Market Outlook Share, 2022 & 2030 (US$M)
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