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LONDON, GREATER LONDON, UNITED KINGDOM, June 18, 2025 /EINPresswire.com/ -- What Is The Growth Trajectory Of The Medical Equipment Outsourcing Market?
The medical equipment outsourcing market has seen substantial growth in recent years. It is set to increase from $75.14 billion in 2024 to $81.35 billion in 2025, a compound annual growth rate CAGR of 8.3%. This upturn in the historic period is largely attributed to the globalization of manufacturing, the increasing demand for more sophisticated devices, escalated regulatory requirements, the expansion in healthcare infrastructure, and the frequent introduction of product updates.
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What Does The Future Hold For The Medical Equipment Outsourcing Market?
The market size prediction for the medical equipment outsourcing sector indicates steadfast development in the coming years. It is projected to grow to $110.67 billion by 2029, presenting a CAGR of 8.0%. The forecast period’s growth can be associated with the increasing aging population, the rise in chronic diseases, surge in minimally invasive procedures, enhanced regulatory scrutiny, and burgeoning digital health sector. Trends likely to be witnessed in this period include AI-driven design optimization, device miniaturization, integration of advanced materials, the inception of IoT-enabled medical devices, and the utilization of smart packaging technologies.
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What's Propelling This Potent Growth In The Medical Equipment Outsourcing Market?
The bolstering demand for medical devices is a significant driver propelling the growth of the medical equipment outsourcing market. These devices, including instruments, machines, implants, or software, diagnose, prevent, monitor, or treat medical conditions without their primary action being achieved chemically. The growing global aging population drives the amplified demand for these devices, culminating in a heightened incidence of chronic diseases and a greater necessity for diagnostic, monitoring, and therapeutic equipment. Manufacturers find refuge in medical equipment outsourcing that affords faster, more cost-effective production and access to specialized expertise, enabling them to scale operations and meet market needs efficiently. This is evidenced by the data from the National Medical Products Administration NMPA in January 2025, which revealed that a total of 126,139 medical device products have been officially registered, with 163,489 filling certificates issued across China. Hence, the escalating demand for medical devices will result in the growth of the medical equipment outsourcing industry.
Who Are The Major Players In The Medical Equipment Outsourcing Market?
Major contenders in the medical equipment outsourcing landscape include Jabil Inc., Flex Ltd., IQVIA Holdings Inc., Labcorp, Sanmina Corporation, ICON plc, Celestica Inc., Eurofins Scientific, WuXi AppTec Co. Ltd., Nipro Corporation, Charles River Laboratories International Inc., lntertek Group, Plexus Corp., Parexel International Corporation, West Pharmaceutical Services Inc., Benchmark Electronics Inc., Gerresheimer AG, Phillips-Medisize Corporation, Medpace Holdings Inc., Integer Holdings Corporation.
How Is The Medical Equipment Outsourcing Market Segmented?
The medical equipment outsourcing market is segmented as per the following:
By Service Type: Regulatory Affairs Services, Product Design and Development Services, Product Testing and Certification Services, Product Implementation Services, Product Upgrade Services
By Mode Of Outsourcing: Offshore Outsourcing, Nearshore Outsourcing, Onshore Outsourcing
By Application: Diagnostic Imaging, Cardiology, Orthopedic, Dental, Endoscopy
By End User: Hospitals, Clinics, Diagnostic Laboratories, Research And Development Centers
What Are The Regional Insights Into The Medical Equipment Outsourcing Market?
Geographically, North America led the medical equipment outsourcing market in 2024. However, Asia-Pacific is poised to be the fastest-growing region during the forecast period. The market report covers regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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