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Medical Device Contract Manufacturing: World Market Outlook 2013-2023
Date:3/4/2013

NEW YORK, March 4, 2013 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

Medical Device Contract Manufacturing: World Market Outlook 2013-2023

http://www.reportlinker.com/p0739373/Medical-Device-Contract-Manufacturing-World-Market-Outlook-2013-2023.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Medical_Devices

Report Details

The medical device contract manufacturing market will witness significant growth during 2013-2023, driven by an expanding medical devices market. According to visiongain estimates, the global medical devices market was worth $266.0bn in 2011. In the past, the medical device industry maintained a low level of outsourcing due to concerns over quality, delays and regulatory compliance. In recent years however, outsourcing has become more attractive, driven by the Original Equipment Manufacturers (OEMs) need to reduce costs and to accelerate the time to market. Contract manufacturers themselves have started to diversify their capabilities over the years and are able to offer a range of services, including design, engineering, packaging and distribution. The medical device contract manufacturing market was worth $33.6bn in 2011. It is estimated that outsourcing has allowed OEMs to reduce costs by 10-30%. More outsourcing companies are adopting the one stop-shop model to provide the entire range of outsourcing activities to OEMs. Overall, outsourcing allows OEMs to focus on their core competencies while delegating other non core activities to contract manufacturers.

In 2011, the US was the largest national market for contract manufacturing, accounting for 47.3% of the global market. However, Asian countries, particularl
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