Medical Device Contract Manufacturing Market - Emerging Trends, Technology and Demand 2019 to 2030

The global medical device contract manufacturing market is driven by focus of market players in introducing new and innovative products, rising geriatric population, need for cost effective products, rising cost for hospitals and increasing demand for medical devices are some of the major factors driving the market. Moreover, Polymer Science and Engineering Department of the University Of Massachusetts (UMASS) are offering several programs to enhance medical device industry and help to generate skilled workers. However, high cost of medical devices and stringent government policy related to medical device manufacturing is likely to restrain the market to certain extent.

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Increasing Geriatric Population

The population of geriatric population across the world has grown rapidly over the past several decades. Moreover, this growth has witnessed an unprecedented rate in recent times. In 2016, it was approximated that the population of individuals aged 65 years or older was 8.5% or 617 million of the entire world population. Furthermore, it is projected that the figure will witness an increment to 17% i.e. 1.6 billion by the end of 2050. Such rapid growth of geriatric population is anticipated to present a remunerative growth opportunity for the global medical device contract manufacturing market in the coming times. Since, growing age brings about several ailments associated with arthritis and joints replacement.

List of key players profiled in the Medical Device Contract Manufacturing market research report:

Flextronics International
LTD
Benchmark Electronics
Inc.
Jabil Inc.
Integer Holdings Corporation (Greatbatch)
West Pharmaceutical Services
Inc.
Tecomet
Inc.
Nortech Systems
TE Connectivity (Creganna Medical)
Forefront Medical Technologies and
Nordson Corporation

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The medical device contract manufacturing market is anticipated to grow in the forecast, owing to increasing pressure on the manufacturers to reduce the cost associated with the manufacturing processes as well as the rising prevalence of chronic diseases. In addition, large number of consolidations in the medical device industry is expected to offer adequate growth opportunities for the players operating in the medical device contract manufacturing market.





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