Global Medical Product Design and Development Services Market Analysis and Forecast of $ 18.6 Billion 2016-2020 and 2021-2028 – ResearchAndMarkets.com

DUBLIN – (COMMERCIAL THREAD)–The “Global Product Design and Development Services Market Report 2021” has been added to ResearchAndMarkets.com offer.

The global product design and development services market size is expected to reach USD 18.6 billion by 2028 and is expected to grow at a CAGR of 11.6% from 2021 to 2028.

Low cost of products, short time to market and demand for advanced technologies are some of the factors driving growth. Medical and life science companies face extreme financial pressures to develop new and innovative products in shorter time frames while complying with stringent medical device regulatory requirements.

Manufacturers face more hurdles to bring high-quality, cost-effective products to market faster, as well as some internal factors, such as design and production. Therefore, medical device companies take a design-to-manufacture approach where design, engineering, and production teams work collaboratively to develop the product model. This approach improves both product quality and profitability by decreasing development and design errors, thus increasing success rates.

Design Engineering Outsourcing is expected to experience healthy growth over the forecast period as an increasing number of manufacturers – from start-ups to established companies – capitalize on the benefits of engineering outsourcing. design, such as improving product design and profitability to achieve competitive advantage.

In addition, with the integration of IT in the healthcare sector, analysis on 3D models and software, for which third parties are well trained, should promote growth.

However, COVID-19 has added complexity and challenge to medical device innovation. Product development companies face major challenges in how to continue their business operations while avoiding the effects of the crisis. Product development during the pandemic continues to show optimal reach.

The enormous cost of development, the financial risks of missing the mark, and the timing of the market together contribute to the greatest challenges of medical device development and market innovation.

Highlights of the Product Design and Development Services Market Report

  • The research, strategy and concept generation services segment accounted for the highest revenue share of 39.9% in 2020 as the scene requires in-depth research and business and design strategy that generates maximum revenue.

  • The surgical instruments segment held a major market share of 27.9% in 2020, due to the complexity of the instruments which require detailed design to make them suitable for direct contact with the human body.

  • Major players in emerging Asia-Pacific and Latin American economies are experiencing significant revenue growth due to the presence of lucrative growth opportunities

  • Medical device original equipment manufacturers (OEMs) outsource the production of their devices to developing economies due to the availability of labor and raw materials at an affordable cost

Main topics covered:

Chapter 1 Scope of the report

Chapter 2 Research Methodology

Chapter 3 Executive Summary

3.1 Market outlook

3.2 Competition overview

Chapter 4 Market Variables, Trends and Scope

4.1 Market Lineage Outlook

4.1.1 Parents’ Market Outlook

4.1.1.1 Contract research organizations market in the health field

4.1.1.2 Medical device outsourcing market

4.1.2 Related / Auxiliary Market Outlook

4.1.2.1 Pharmaceutical outsourcing market

4.1.2.2 Healthcare Contract Manufacturing Market

4.1.2.3 Healthcare IT outsourcing market

4.1.2.4 Regulatory Affairs Outsourcing Market

4.2 Market segmentation

4.3 Regulatory framework

4.3.1 Standards

4.3.1.1 United States

4.3.2 Compliance

4.4 Analysis of market variables

4.4.1 Market Drivers Analysis

4.4.1.1 Growing complexity in product design and engineering

4.4.1.2 Growing trend towards smaller, portable products

4.4.1.3 Moving care from hospital to home

4.4.1.4 Monitoring of health data

4.4.1.5 Increase in device recalls

4.4.1.6 Growing incorporation of electronics in medical devices, especially implants

4.4.2 Analysis of market restrictions

4.4.2.1 Lack of funding

4.4.2.2 Threat of loss of information for OEMs

4.4.2.3 Resistance, reluctance and rejection

4.4.3 Industry challenges

4.5 Mapping of penetration and growth prospects

4.6 Tools for analyzing the business environment

4.6.1 SWOT analysis, by PEST

4.6.2 Porter’s five forces analysis

4.6.3 Analysis of major transactions and strategic alliances

4.6.4 Case study

Chapter 5 Product Design and Development Services Market: Services Segment Analysis

5.1 Definition and scope

5.2 Product Design and Development Services Market: Service Movement Analysis

5.3 Research, strategy and concept generation

5.4 Concept and requirements development

5.5 Detailed design and process development

5.6 Design verification

5.7 Process validation, manufacturing transfer and design validation

5.8 Production and commercial support

Chapter 6 Product Design and Development Services Market: Application Segment Analysis

6.1 Definition and scope

6.2 Product Design and Development Services: Market Share Analysis, 2020 and 2028

6.3 Diagnostic equipment

6.4 Therapeutic equipment

6.5 Clinical laboratory equipment

6.6 Surgical instruments

6.7 Biological storage

6.8 Consumables

Chapter 7 Product Design and Development Services Market: End-Use Segment Analysis

7.1 Definition and scope

7.2 Product Design and Development Services: Market Share Analysis, 2020 and 2028

7.3 Medical device companies

7.4 Pharmaceutical companies

7.5 biotechnology companies

7.6 Contract research organizations

Chapter 8 Regional estimates and trend analysis

8.1 Regional market overview

8.2 Product Design and Development Services Market Share by Regions, 2020 and 2028

Chapter 9 Competitive Analysis

9.1 Company overview

9.2 Benchmarking of services

9.3 Recent developments

  • Ximedica

  • Devicelab, Inc.

  • Jabil Inc.

  • Flex Ltd.

  • Plexus Corp

  • Celestica Inc.

  • Medical starfish

  • Nordson Medical

  • Planet Innovation

  • Donatelle

  • Cambridge Design Partnership

  • Biomedical Aran

For more information on this report, visit https://www.researchandmarkets.com/r/3hboj6

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