Philippines Medical Device Outsourcing Market Size & Outlook
Philippines medical device outsourcing market, 2018-2030 (US$M)
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Philippines medical device outsourcing market highlights
- The Philippines medical device outsourcing market generated a revenue of USD 5,271.5 million in 2022 and is expected to reach USD 14,516.1 million by 2030.
- The Philippines market is expected to grow at a CAGR of 13.5% from 2023 to 2030.
- In terms of segment, contract manufacturing was the largest revenue generating service in 2022.
- Quality Assurance is the most lucrative service segment registering the fastest growth during the forecast period.
Medical device outsourcing market data book summary
| Market revenue in 2022 | USD 5,271.5 million |
| Market revenue in 2030 | USD 14,516.1 million |
| Growth rate | 13.5% (CAGR from 2022 to 2030) |
| Largest segment | Contract manufacturing |
| Fastest growing segment | Quality Assurance |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 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, Philippines accounted for 4.5% of the global medical device outsourcing market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China medical device outsourcing market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 25,236.4 million by 2030.
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Medical Device Outsourcing Market Scope
Medical Device Outsourcing Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Philippines 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 Philippines 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.
The country suffers from a high burden of chronic and infectious diseases. For instance, the Institute for Health Metrics and Evaluation stated that heart diseases, stroke, tuberculosis, diabetes, COPD, and others were the major causes of death in the country in 2019. The increasing incidence of chronic respiratory diseases is expected to boost the demand for contract manufacturing activities for medical devices in the Philippines, which is expected to boost the market over the forecast period.
The ITA states that the country is heavily dependent on medical device imports. This is expected to improve the demand for regulatory service providers for imports, thus increasing the competition among market players in the country. Some key players operating in the country are Laboratory Corporation of America Holdings, Clinixir, Eurofins Scientific, and Charles River Laboratories.
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Target buyers of Philippines 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 country-level data and insights on the Philippines medical device outsourcing market , including forecasts for subscribers. This country databook contains high-level insights into Philippines medical device outsourcing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Philippines medical device outsourcing market size, by service, 2018-2030 (US$M)
Philippines Medical Device Outsourcing Market Outlook Share, 2022 & 2030 (US$M)
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