The global medical device outsourcing market is predicted to exhibit huge expansion in the future years. The key factors driving the expansion of the market are the rising prevalence of acute and chronic diseases and the speedy and cost-effective manufacturing of products all over the world. Apart from these factors, the rising requirement for adherence to various quality standards is also fueling the progress of the market across the world.

As per Micro Interventional Devices Inc., around 20–25% of the total adult population in the U.S. suffers from various structural heart defects. Furthermore, according to an article produced in the Cardiac Failure Review reports, in the U.S., there were as many as 5.7 million heart failures in 2016. Moreover, this number is predicted to rise to 8 million by 2030. This will massively push up the requirement for affordable cardiac and various other treatment devices in the coming years.



Another major market growth driver is the speedy and cost-effective manufacturing of various products around the world. Many manufacturing companies are increasingly outsourcing the manufacturing of their products for reducing their operational costs and production times. Moreover, some companies are increasingly preferring to outsource their manufacturing operations to various contract manufacturing organizations (CMOs) operating in various developing countries such as China, South Korea, and Taiwan. These organizations are providing efficient maintenance and quality management services.

Based on product, the medical device outsourcing market is classified into electronics, raw materials/components, and finished goods categories. Out of these, the electronics category is predicted to hold the highest market share in the future years, because of the growing requirement for highly affordable electronic medical devices. When application is taken into consideration, the market is categorized into cardiovascular, general medical devices, radiology, and orthopaedics and spine. Amongst these, the cardiovascular category will register the fastest growth in the future.

Hence, it can be said with full confidence that the market will demonstrate huge expansion all over the world in the upcoming years, primarily because of the rising prevalence of chronic diseases and the increasing trend of outsourcing product manufacturing process to CMOs by manufacturing organizations.