India Product Design And Development Services Market Size & Outlook
India product design and development services market, 2018-2030 (US$M)
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India product design and development services market highlights
- The India product design and development services market generated a revenue of USD 1,182.9 million in 2022 and is expected to reach USD 2,713.9 million by 2030.
- The India market is expected to grow at a CAGR of 10.9% from 2023 to 2030.
- In terms of segment, research, strategy, & concept generation was the largest revenue generating services in 2022.
- Process Validation, Manufacturing Transfer & Design Validation is the most lucrative services segment registering the fastest growth during the forecast period.
Product design and development services market data book summary
| Market revenue in 2022 | USD 1,182.9 million |
| Market revenue in 2030 | USD 2,713.9 million |
| Growth rate | 10.9% (CAGR from 2022 to 2030) |
| Largest segment | Research, strategy, & concept generation |
| Fastest growing segment | Process Validation, Manufacturing Transfer & Design Validation |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Research, Strategy, & Concept Generation, Concept & Requirements Development, Detailed Design & Process Development, Design Verification, Process Validation, Manufacturing Transfer & Design Validation, Production & Commercial Support |
| Key market players worldwide | Ximedica, DeviceLab, Jabil Inc, Flex Ltd, Plexus Corp, Celestica Inc Ordinary Shares (Subordinate Voting), StarFish Medical, Nordson Corp, Planet Innovation, Donatelle, Cambridge Design Partnership, Integer Holdings Corp, Cirtec Medical |
Other key industry trends
- In terms of revenue, India accounted for 7.5% of the global product design and development services market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China product design and development services 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 2,713.9 million by 2030.
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Product Design And Development Services Market Scope
Product Design And Development Services Market Companies
| Name | Profile | # Employees | HQ | Website |
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India product design and development services 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 product design and development services market will help companies and investors design strategic landscapes.
Research, strategy, & concept generation was the largest segment with a revenue share of 39.82% in 2022. Horizon Databook has segmented the India product design and development services market based on research, strategy, & concept generation, concept & requirements development, detailed design & process development, design verification, process validation, manufacturing transfer & design validation, production & commercial support covering the revenue growth of each sub-segment from 2018 to 2030.
India has become one of the emerging markets in healthcare outsourcing services. Due to the complications created by the Covid-19, many companies are now focusing on the China plus one strategy for outsourcing services related to the manufacture of medical devices, and India will be the biggest beneficiary of this decision.
Lower costs of labor, improved infrastructure, and easy availability of technical expertise are some of the major factors driving the growth of medical device outsourcing market in India.
In addition, increase in government funding for R&D to accelerate development of new products has made India one of the most favored destinations for outsourcing manufacturing services.
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Our clientele includes a mix of product design and development services market companies, investment firms, advisory firms & academic institutions.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the India product design and development services market , including forecasts for subscribers. This country databook contains high-level insights into India product design and development services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India product design and development services market size, by services, 2018-2030 (US$M)
India Product Design And Development Services Market Outlook Share, 2022 & 2030 (US$M)
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