Global medical device outsourcing market is expected to reach USD 50.37 billion by 2020, according to a new study by Grand View Research, Inc. Increasing pricing pressure on medical device OEMs and the presence of stringent government regulations are some key drivers of the medical device outsourcing market. One such regulation involves the imposition of additional 2.3% excise duty on medical devices in the U.S. The implementation of this act increased manufacturing costs, thereby encouraging OEMs to adopt outsourcing as a cost curbing tool. Budgetary cutbacks undertaken by healthcare establishments is another key reason accounting for the increase in pricing pressure on medical device OEMs.
Product design and development accounted for over 28.0% of the market in 2013. Escalating competition in the medical device industry has heightened the importance of new product development and extensive R&D investments. Manufacturers in an attempt to mitigate risks associated with this rise in capital expenditure levels adhere to cost effective strategies, especially outsourcing. Design and development expertise offered by outsourcing firms are also expected to improve usage rates during the forecast period. View summary of this report @ http://www.grandviewresearch.com/industry-analysis/medical-device-outsourcing-market Further key findings from the study suggest:
Global Medical Device Outsourcing Service Outlook (Revenue, USD Billion, 2012 – 2020) • Product Design and Development Services • Regulatory Consulting Services • Product Testing Services • Product Implementation Services • Product Upgrade Services • Product Maintenance Services Global Medical Device Outsourcing Application Outlook (Revenue, USD Billion, 2012 – 2020) • Class I Medical Devices • Class II Medical Devices • Class III Medical Devices Medical Device Outsourcing Regional Outlook (Revenue, USD Billion, 2012 – 2020) • North America • U.S. • Canada • Europe • France • Germany • Asia Pacific • India • China • Japan • RoW • Brazil About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy. Contact: Sherry James Corporate Sales Specialist, U.S.A. Grand View Research, Inc. United States Phone: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: [email protected] Website: http://www.grandviewresearch.com/
2 Comments
7/21/2022 11:36:10 am
Presence of stringent government regulations and healthcare related cost curbing endeavors are also expected to enhance the demand for outsourcing. I truly appreciate your great post! 9/29/2022 01:02:24 am
Presence of stringent government regulations and healthcare related cost curbing endeavors are also expected to enhance the demand for outsourcing. I’m so thankful for your helpful post! Leave a Reply. |