MEDICAL DEVICE ENGINEERING SERVICES MARKET Size and trends

Medical Device Engineering Services Market Size and Trends

Global medical device engineering services market is estimated to be valued at USD 6.30 Bn in 2025 and is expected to reach USD 13.68 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 11.7% from 2025 to 2032.

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The market trend in the medical device engineering services sector has been positive with increasing momentum year-over-year. Key growth drivers of the market include rising healthcare expenditures in major markets, imminent patent cliffs leading to higher R&D activities for pharmaceutical and device companies, lower costs and faster development achieved through outsourcing, and growing need for technologies like IoT and digital health solutions across care pathway.

Market Driver – Increasing Product Launches by key market players

Increasing adoption of organic growth strategies such as product launches by key market players is expected to drive the global medical device engineering services market growth over the forecast period. For instance, on February 6, 2025, MGS, a leading end-to-end solutions provider, launched its global engineering services group that brings together more than 85 engineers and 200 toolmakers globally, enabling pharma, diagnostic and medtech innovators to take healthcare projects from napkin sketch to validated product, process, and production cell setup.