Service Outsourcing Opportunities in Medical Device Market worth US$26.77 Billion by 2014
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Medical devices form one of the largest industries in healthcare sectorwith an estimated size of $250 billion in 2009 and a growth rate of 6%-8%.The industry has been outsourcing medical device manufacturing services foralmost a decade now. This trend has brought about huge profit margins, whichhas attracted many new players. Outsourcing has helped medical devicemanufacturers reduce product development cost by 10% to 30%. The servicesoutsourcing industry has also gained from the entry of new medical devicemanufacturing companies, as these players lack experience in the field.
Orthopedic devices hold the largest market share and cardiology deviceshave the highest growth rate in the medical device manufacturing industry.The increasing regulations for class 2 and class 3 devices have increased thedemand for regulatory consulting services. Growing complexities in supplychain and the need for efficient management of client accounts have increasedthe scope of product lifecycle management solution providers in the medicaldevices industry. Firms offering chip designing services have also benefittedfrom the increasing incidence of chronic diseases and the growing use ofelectronic and embedded systems in cardiovascular and neurology devices.
The report analyzes the outsourcing opportunities in cardiovascular,ophthalmic, oncology, dental, and neurology devices, along with a study ofvarious tools used for developing, testing and simulation tools used formedical devices. The report categorizes the service outsourcing in medicaldevice market as follows:
Services Market: Product design and development services, product testingand certification services, product implementation services, productmaintenance services, product upgrade services and Regulatory consultingservices for medical devices
Applications Market: Class I Devices, Class II Devices and Class IIIDevices.
Analyst Briefing Presentation on the Service Outsourcing Opportunities inMedical Device Market (2009 - 2014) to be held on 3rd Dec 2009
The Healthcare practice at MarketsandMarkets is pleased to announce itsAnalyst Briefing Presentation on the Service Outsourcing Opportunities inMedical Device Market (2009 - 2014) to be held on 3rd Dec 2009.
To register your participation, please click herehttp://www.marketsandmarkets.com/AnalystBriefing/medical-device-market.asp
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