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Service Outsourcing Opportunities in Medical Device Market worth US$26.77 Billion by 2014
Date:11/12/2009

WILMINGTON, Delaware, November 12 /PRNewswire/ -- According to a new market research report, 'Service Outsourcing Opportunities in Medical Device Market (2009-2014)', published by MarketsandMarkets (http://www.marketsandmarkets.com), the global services outsourcing market in medical devices is expected to be worth $26,770 million by 2014, growing at a CAGR of 13.9% from 2009 to 2014.

Browse in-depth TOC on Service Outsourcing Opportunities in Medical Device Market (2009-2014). Early buyers will receive 10% customization of reports http://www.marketsandmarkets.com/Market-Reports/outsourcing-opportunities-in- medical-equipment-111.html

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Medical devices form one of the largest industries in healthcare sector with an estimated size of $250 billion in 2009 and a growth rate of 6%-8%. The industry has been outsourcing medical device manufacturing services for almost a decade now. This trend has brought about huge profit margins, which has attracted many new players. Outsourcing has helped medical device manufacturers reduce product development cost by 10% to 30%. The services outsourcing industry has also gained from the entry of new medical device manufacturing companies, as these players lack experience in the field.

Orthopedic devices hold the largest market share and cardiology devices have the highest growth rate in the medical device manufacturing industry. The increasing regulations for class 2 and class 3 devices have increased the demand for regulatory consulting services. Growing complexities in supply chain and the need for efficient management of client accounts have increased the scope
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