Healthcare Takes on New Opportunities that Prompt Medical Device Market Growth

Global Contract Manufacturing of Medical Devices Market to reach $108.6 billion by 2025

March 22, 2022

WELLESLEY, Mass., March 22, 2022 -- The healthcare industry has received increased attention and critical observation from the public and government worldwide, especially after the global pandemic's onset of economic challenges. A closer eye on the industry has done well with the market’s growth that doesn’t seem to have an end anytime soon, according to BCC Research’s latest report, 2021 Medical Devices Research Review.

• The global contract manufacturing of medical devices market is expected to reach $108.6 billion by 2025 from $68.0 billion in 2020 at a compound annual growth rate (CAGR) of 9.8% for the forecast period of 2020 to 2025.
• The global oncology diagnostics market is forecast to reach $128.3 billion by 2025 from $86.7 billion in 2020 at a compound annual growth rate (CAGR) of 8.1% for the forecast period of 2020 to 2025.
• The global dermatology devices market is expected to grow to $15.1 billion by 2025 from $11.1 billion in 2020 at a compound annual growth rate (CAGR) of 5.3% for the forecast period of 2020 to 2025.

New Opportunities for the Advanced Medical Devices

The additional focus on the healthcare industry has led to a few shifts visible throughout the market. The U.S. leads the trend of changes for more affordable healthcare. As the largest market for healthcare, the U.S.’s influence spreads globally. More regulations in the U.S. and European markets press medical device manufacturers to launch advanced devices. Such devices include new material, a focus on in-depth indications, and the ability to produce additional new data.

Along with new markets surfacing mainly in emerging economies, increased healthcare expenditures have heightened the demand for technologically superior medical devices. These medical devices aim to treat and diagnose patients with various conditions, substituting the reliance on drugs. At-home healthcare has also grown in importance as medical equipment manufacturers focus on creating better-quality, cost-effective healthcare solutions for individuals with unskilled healthcare experience.

The 2021 Medical Devices Research Review provides a sampling of quantitative market information, analysis, and highlights of reports published in 2021 in:

• MDS038A Negative Pressure Wound Therapy (NPWT) Devices: Global Markets.
• MDS039A Contract Manufacturing of Medical Devices: Global Markets.
• MDS043A Bioprocess Filtration: Global Markets.
• MDS044A COVID-19 Diagnostics and Kits: Global Markets.
• MDS046A Oncology Diagnostics: Global Markets.
• MDS047A Vaccine Delivery Devices: Global Markets.
• MDS052A Healthcare Virtual Assistants Market.
• MDS041A Behavioral Health Software: Global Markets.
• MDS042A Dermatology Devices: Global Markets.
• MDS036A Global Orthodontic and Orthopedic Market.

 Explore the full report here, and for further information or to purchase the report, please contact us at james.dowd@bccresearch.com.

2021 Medical Devices Research Review( MDS060A )
Publish Date: Mar 2022    

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