U.S. Medical Device Outsourcing Market Analysis By Application (Class I, Class II, Class III), By Services (Consulting, Product Design & Development, Product Testing, Product Implementation, Product Upgrade, Product Maintenance Services) And Segment Forecasts To 2022

Published: Nov, 2015 | Pages: 84 | Publisher: Grand View Research
Industry: Medical Devices | Report Format: Electronic (PDF)

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.

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

 Table of Contents


Chapter 1 Methodology and Scope
              1.1 Research Methodology
              1.2 Research Scope & Assumptions
              1.3 List of Data Sources
Chapter 2 Executive Summary
Chapter 3 Medical Device Outsourcing Industry Outlook
              3.1 Market segmentation
              3.2 U.S. Market size and growth prospects
              3.3 Medical device outsourcing: Market dynamics
                 3.3.1 Market driver analysis
                      3.3.1.1 Rising price competition and requirement to reduce costs
                      3.3.1.2 Increasing complexity, product design and engineering
                      3.3.1.3 Rise in surgical procedures and increasing demand for surgical equipment
                 3.3.2 Market restraint analysis
                      3.3.2.1 Regulatory and legal compliance
                      3.3.2.2 Contractual Obligation
              3.4 Key Opportunities Prioritized
              3.5 Industry analysis - Porter's
              3.6 Medical device outsourcing - PESTEL Analysis
              3.7 Company market share analysis
Chapter 4 U.S. Medical Device Outsourcing Application Outlook
              4.1 U.S. Medical device outsourcing market share by application, 2014 & 2022
              4.2 Class I medical devices outsourcing
                 4.2.1 U.S. class I medical device outsourcing market, 2012 - 2022 (USD Million)
              4.3 Class II medical devices outsourcing
                 4.3.1 U.S. Class II medical device outsourcing market, 2012 - 2022 (USD Million)
              4.4 Class III medical devices outsourcing
                 4.4.1 U.S. Class III medical device outsourcing market, 2012 - 2022 (USD Million)
Chapter 5 Medical Device Outsourcing Service Outlook
              5.1 Medical device outsourcing market share, by service, 2014 & 2022
              5.2 Regulatory consulting services
                 5.2.1 U.S. regulatory consulting services market, 2012 - 2022 (USD Million)
              5.3 Product design and development services
                 5.3.1 U.S. product design and development services market, 2012 - 2022 (USD Million)
              5.4 Product testing services
                 5.4.1 U.S. product testing services market, 2012 - 2022 (USD Million)
              5.5 Product implementation services
                 5.5.1 U.S. product implementation services market, 2012 - 2022 (USD Million)
              5.6 Product upgrade services
                 5.6.1 U.S. product upgrade services market, 2012 - 2022 (USD Million)
              5.7 Product maintenance services
                 5.7.1 U.S. product maintenance services market, 2012 - 2022 (USD Million)
Chapter 6 Competitive Landscape
              6.1 Accellent Inc.
                 6.1.1 Company Overview
                 6.1.2 Financial Performance
                 6.1.3 Product Benchmarking
                 6.1.4 Strategic Initiatives
              6.2 Active Implants Corporation LLC
                 6.2.1 Company Overview
                 6.2.2 Financial Performance
                 6.2.3 Product Benchmarking
              6.3 MDMI Technologies Inc.
                 6.3.1 Company Overview
                 6.3.2 Financial Performance
                 6.3.3 Product Benchmarking
              6.4 Kinetics Climax, Inc
                 6.4.1 Company Overview
                 6.4.2 Financial Performance
                 6.4.3 Product Benchmarking
                 6.4.4 Strategic Initiatives
              6.5 Omnica Corporation
                 6.5.1 Company Overview
                 6.5.2 Financial Performance
                 6.5.3 Product Benchmarking
              6.6 Teleflex Medical OEM
                 6.6.1 Company Overview
                 6.6.2 Financial Performance
                 6.6.3 Product Benchmarking
                 6.6.4 Strategic Initiatives
              6.7 Avail Medical Products, Inc.
                 6.7.1 Company Overview
                 6.7.2 Financial Performance
                 6.7.3 Product Benchmarking

List of Tables


TABLE 1 U.S. Medical Device Outsourcing Market - Industry Snapshot & Key Buying Criteria, 2014 - 2022
TABLE 2 U.S. medical device outsourcing market, by application, 2012 - 2022 (USD Million)
TABLE 3 U.S. medical device outsourcing market, by service , 2012 - 2022 (USD Million)
TABLE 4 Medical device outsourcing - Key market driver analysis
TABLE 5 Total number of cosmetic/aesthetic procedures, 2013
TABLE 6 Medical device outsourcing - Key market restraint analysis