Medical Device Contract Manufacturing Market Size, Share, Growth Analysis, By Device Type(IVD Devices, Diagnostic Imaging Devices, Cardiovascular Devices, Drug Delivery Devices), By Class Device(Class I: General controls, Class II: General controls with special controls, and Class III: General controls, special controls), By Service(Device Development and Manufacturing, Quality Management, Packaging and Assembly Services, and Other Services), By Region - Industry Forecast 2024-2031

Global Medical Device Contract Manufacturing Market size was valued at USD 63.58 billion in 2022 and is poised to grow from USD 70.83 billion in 2023 to USD 167.99 billion by 2031, growing at a CAGR of 11.4% in the forecast period (2024-2031). 

The competitive landscape of the medical device contract manufacturing market is composed of a wide variety of players including established companies, specialty contractors and emerging companies. These companies compete based on their technological expertise, manufacturing capabilities, regulatory compliance, and ability to provide end-to-end services, from product design to production and post-market support. Strategic partnerships, mergers and acquisitions, and investment in cutting-edge technologies are common strategies used by key players to maintain a competitive edge in this rapidly evolving market. 'Jabil Inc. (US) ', 'Flex, Ltd. (US) ', 'Plexus Corp. (US) ', 'Integer Holdings Corporation (US) ', 'Celestica Inc. (Canada) ', 'West Pharmaceutical Services, Inc. (US) ', 'Benchmark Electronics Inc. (US) ', 'Kimball Electronics, Inc. (US) ', 'Nortech Systems, Inc. (US) ', 'Phillips-Medisize Corporation (US) ', 'Tessy Plastics Corp. (US) ', 'Tekni-Plex (US) ', 'Recipharm AB (Sweden) ', 'Gerresheimer AG (Germany) ', 'Carclo PLC (UK) ', 'Nemera (France) ', 'SMC Ltd. (UK) ', 'Sanmina Corporation (Japan) ', 'Nipro Corporation (Japan) ', 'NOLATO GW, Inc. (NOLATO AB) (Sweden) ', 'Mehow (Japan)'

Increasing demand for medical devices arising from increasing incidence of chronic diseases, aging population and advancement in healthcare is a major driver of the medical device contract manufacturing market. Growing demand for new high-end equipment and original equipment manufacturers (OEMs) collaborate with contractors to increase productivity and reduce costs. This collaborative effort that also draws attention building on similar core competencies enables faster production timelines and enhances world-class medical technology. 

Technological Advances in Manufacturing: The adoption of advanced manufacturing technologies such as automation, 3D printing, and robotics is revolutionizing medical device contract manufacturing. These innovations increase, lower production, accuracy time, permitting cost-powerful customization of the medical devices. For instance, 3D printing permits rapid prototyping and production of complex scientific tool parts, at the same time as automation guarantees steady and scalable product quality and increases innovation and efficiency in the medical device contract manufacturing industry. 

North America dominated the medical device contract manufacturing market in 2023 with 36.1% revenue share. Notably, there are many established biotechnology, pharmaceutical and medical device companies. In addition, increasing R&D investments by life sciences and pharmaceutical companies are expected to increase the sector’s demand for contract manufacturing independently. Strict regulation manufacturing and quality issues are also expected to provide opportunities for growth in medical device contract manufacturing.