MEDICAL DEVICE ENGINEERING SERVICES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Medical Device Engineering Services Market, By Service Type (Product Development, Clinical Trial Services, Quality Management, Others), By Device Type (IVD Devices, Diagnostic Imaging, Monitoring Devices, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Apr 2024
Code : CMI6908
Pages :142
Formats :
Excel and PDF
Industry : Medical Devices

Regional Analysis

Medical Device Engineering Services Market Regional Insights

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North America remains the dominant region in the global medical device engineering services market and is anticipated to hold 34.7% of the market share in 2024, owing to the strong presence of related industries and infrastructure support in the region. The U.S. accounts for the majority share driven by significant domestic demand and a growing patient pool requiring medical devices. Furthermore, favorable business environments and policies have attracted many international players to set up manufacturing and R&D hubs in the region to cater to the local as well as global markets.

Asia Pacific region has emerged as the fastest growing market for medical device engineering services. Countries like China, India, Japan and Singapore have established themselves as key hubs for medical devices outsourcing due to availability of low-cost yet high-skilled talent pool. International companies are extensively outsourcing engineering design and development works as well as contract manufacturing to the Asian markets to leverage cost advantages.