Medical Devices Outsourcing Market - Global Industry Size, Market Share, Trends, Analysis, And Forecast 2012 - 2018
Albany, New York (PRWEB) July 23, 2013 -- According to a new market report "Medical Devices Outsourcing Market - Global Industry Size, Market Share, Trends, Analysis, and Forecast, 2012 - 2018," published by Transparency Market Research, the global medical devices outsourcing market, amidst ongoing medical technology development is expected to rise from USD 21.1 billion in 2012 to USD 40.8billion in 2018, registering a CAGR of 11.6% from 2012 to 2018. The product design segment holds the largest share - i.e. 29% - of the service market; whereas class II devices segment forms the largest application market as these are medium risk devices that involve fewer regulatory issues in comparison to class III devices.
Related Report : Disposable Syringes Market
http://www.transparencymarketresearch.com/disposable-syringes-market.html
Medical devices outsourcing is the process of contracting with a third party for performing business functions like product design, manufacturing, prototyping, and supply chain management. These functions were initially carried out internally by medical companies. By offering third party manufacturers to perform these processes, medical device manufacturers can focus on their core competencies like clinical and technical innovations.
The medical devices outsourcing market is experiencing tremendous growth as many manufacturers are opting to outsource their device manufacturing process. The demand for medical devices outsourcing is increasing as many new entrants are occupying the market and the supporting medical devices companies may not have sufficient staff or technology to develop competitive products.
Browse Blog : http://nitinsirsat.blogspot.com/
The medical device market is one of the fastest growing and the most dynamic sector in the life sciences industry due to its high profit margins and the increasing demand for advanced medical devices. The medical device industry consists of three major participants - medical device manufacturers, product outsourcing companies, and service outsourcing companies. These three participants have together increased product efficiency and reduced costs by improving the product lifecycle management in medical device manufacturing.
Browse the full report with TOC at http://www.transparencymarketresearch.com/medical-devices-outsourcing-market.html.
The medical devices industry, in recent times, has grown considerably owing to technological advances and growing demand for sophisticated equipment. However, the competition in the market has also grown exponentially, posing challenges for medical device manufacturing companies such as cost, product innovation, time to market, and stiffer regulatory impositions. Outsourcing aids the medical device manufacturing industry to overcome these challenges by offering expertise in product design, regulatory consulting, testing and validation, product implementation and strategic consulting services.
Browse All Market Research Reports: http://www.transparencymarketresearch.com/
Sheela AK, Transparency Market Research, http://www.transparencymarketresearch.com, +1-518-618-1030, [email protected]
Share this article