CALIFORNIA, UNITED STATES – Grand View Research released a market analysis report on the global medical devices outsourcing market for the period 2025–2033.
The market is expected to reach USD 386.08 billion by 2033, with a compound annual growth rate (CAGR) of 13.29%. There are three reasons for this:
- People’s increasing demand for medical devices
- Medical device OEMs need to balance innovation and control costs
- Medical device companies’ aim to speed up regulatory approvals in global markets
Key Segments Highlighted in the Report
According to GVR’s report, the following segments have the largest revenue share in 2024:
- Service: Contract manufacturing, with 55.1% revenue share, because companies want to reduce fixed costs and access skilled labor and technical resources
- Application: Cardiology segment, because of the increased number of patients needing cardiovascular devices
- Class Type: Class II medical devices, because these are frequently used in patients
- Region: Asia Pacific, with 40.98% revenue share, because:
- It houses a large manufacturing base
- It has lower labor costs
- It adopts advanced medical technologies
- It receives strong government support for its healthcare infrastructure
- Its rapidly aging population is driving higher healthcare demand
