Market Forecast News: Medical Device Contract Manufacturing Industry to Hit $140.84B by 2030
The report "Medical Device Contract Manufacturing Market by Device Type (IVD, Cardiovascular, Orthopedic, Dental), Class of Device (Class I, II, III), Service (Device Development & Manufacturing, Packaging & Assembly, Quality Management)—Global Forecast to 2030", is projected to reach USD 140.84 billion in 2030 from USD 83.77 billion in 2025, at a CAGR of 10.9% between 2025 and 2030.
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The global population is aging, which increases the demand for medical devices used in diagnostics, treatment, and monitoring of age-related conditions. Additionally, chronic diseases like diabetes, heart disease, and cancer are becoming more common worldwide, leading to a greater need for medical devices to manage these illnesses. This is expected to drive market growth. However, strict regulatory requirements for medical device approval may pose challenges to market expansion.
This report divides the medical device contract manufacturing market into four segments: device type, class of device, service, and region.
By IVD device type, the IVD consumables segment is expected to grow at the highest CAGR during the forecast period.
Within the category of In Vitro Diagnostic (IVD) devices, IVD consumables are projected to experience the highest compound annual growth rate (CAGR) from 2024 to 2030. These consumables, which include the disposable elements integral to IVD testing processes, play a critical role in ensuring both efficiency and accuracy in medical diagnostics. Engineered under stringent specifications, IVD consumables guarantee consistent performance across various assays and manufacturing batches. This standardization significantly mitigates the potential for errors stemming from environmental variability during testing, thereby enhancing diagnostic reliability.
The primary & secondary packing segment accounted for the largest share, by packaging & assembly services in the medical device contract manufacturing market.
The medical device contract manufacturing market can be classified into several segments, including primary and secondary packaging, labeling, and various ancillary services within the packaging and assembly category. The growth of the primary and secondary packaging segment is largely attributed to its critical role in safeguarding devices against contamination and physical damage throughout the processes of transportation, storage, and handling. These protective measures are essential for maintaining the integrity of medical devices, thereby driving demand within this sector.
In 2024, Europe was the region with the second-largest market share in the medical device contract manufacturing market.
The medical device contract manufacturing market is categorized into five key regions: North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa, including the GCC nations. In 2024, Europe is projected to hold the second-largest share of this market. Significant factors contributing to the growth in Europe include an increasingly aging demographic, which is driving amplified demand for medical devices essential for the diagnosis, treatment, and management of age-related conditions. This trend underlines the critical role of contract manufacturing in meeting the evolving healthcare needs within the region.
Key players in the medical device contract manufacturing market include Flex Ltd. (Singapore), Jabil Inc. (US), TE Connectivity Ltd. (Switzerland), Sanmina Corporation (US), Nipro Corporation (Japan), Celestica Inc. (Canada), Plexus Corp. (US), Integer Holdings Corporation (US), West Pharmaceutical Services, Inc. (US), and Benchmark Electronics Inc. (US).
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