Service Outsourcing Opportunities in Medical Device Market worth US$26.77 Billion by 2014

Thursday, November 12, 2009 General News
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WILMINGTON, Delaware, November 12 According to a newmarket research report, 'Service Outsourcing Opportunities in Medical DeviceMarket (2009-2014)', published by MarketsandMarkets(, the global services outsourcing market inmedical devices is expected to be worth $26,770 million by 2014, growing at aCAGR of 13.9% from 2009 to 2014.

Browse in-depth TOC on Service Outsourcing Opportunities in MedicalDevice Market (2009-2014). Early buyers will receive 10% customization ofreports

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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 here

About MarketsandMarkets

MarketsandMarkets is a research and consulting firm that publishes 120market research reports per year. Each strategically analyzed report contains250 pages of valuable market data, including more than 100 market datasummary tables and in-depth, five-level segmentation for each of theproducts, services, applications, technologies, ingredients and stakeholderscategories. Our reports also analyze about 200 patents, over 50 companies andmicro markets that are mutually exclusive and collectively exhaustive. Browseall our 120 titles at Ms. Sunita 108, West 13th Street, Wilmington DE, 19801 County of New Castle Tel: +1-888-989-8004 Email:

SOURCE MarketsandMarkets

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