Medical Device Design and Development Services Market – Services (Designing, Engineering, Machining, Moulding, Packaging), Device Type (Drug Delivery, Imaging, Cardiovascular, Diagnostics, Surgical), Application, End-use, Global Forecast (2024 – 2032)

Medical Device Design and Development Services Market – Services (Designing, Engineering, Machining, Moulding, Packaging), Device Type (Drug Delivery, Imaging, Cardiovascular, Diagnostics, Surgical), Application, End-use, Global Forecast (2024 – 2032)

Medical Device Design and Development Services Market Size

Medical Device Design and Development Services Market size was valued at USD 10.3 billion in 2023 and is anticipated to showcase growth at 13.4% CAGR from 2024 – 2032, owing to rapid advancements in medical device technologies, increasing demand for medical diagnosis and surgical interventions, and increasing investments to outsource medical device designing and development.

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Moreover, growing adoption of smart devices and connected medical care is also enabling the vendors to redesign and update existing products through adding advanced features such as wireless connectivity, enhanced compatibility, and support for connected architecture. Medical device design and development services encompass the activities from concept to commercialization, provided by specialized firms with expertise in medical device design, engineering, regulatory compliance, and manufacturing. These service providers ensure that devices are safe, effective, and meet regulatory requirements.
 

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Medical Device Design and Development Services Market Trends

• Growing emphasis of digital health technologies such as mobile health (mHealth), wearables, remote patient monitoring devices, and telemedicine platforms into the design and development of medical devices has led to the development of connected medical devices that can transmit, receive, and analyze health data in real time wirelessly supporting compatibility to multiple platforms. This is driving the demand for outsourcing medical device design and development services.
• Medical device design and development service providers are using robotics and automation, and 3D printing technology, for developing high precision surgical instruments that are finding significant adoption in minimally invasive surgical procedures. Such initiatives from service providers are letting the vendors to increasingly outsource medical device design and development.

Medical Device Design and Development Services Market Analysis

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Based on services, the market is segmented into designing & engineering, machining, moulding, and packaging. The designing & engineering segment held the majority of market share in 2023 and is anticipated to grow at CAGR of 13.6% over the coming years.

• Increasing demand for custom designs with specific patient centric requirements among end use organizations is driving the demand for designing & engineering services. Design and engineering teams place a strong emphasis on user-centered design principles to develop medical devices that are intuitive, ergonomic, and user-friendly.
• Moreover, owing to increasing competition in medical device industry, medical device companies are focusing towards introducing highly differentiated products with innovative and enhanced features, and are likely to invest more in design and engineering services.

Based on device types, the medical device design and development services market is classified into drug delivery devices, imaging devices, cardiovascular devices, POC diagnostic equipment, orthopedic devices, surgical devices, dental devices, sleep & respiratory devices, ophthalmology devices, endoscopy, diabetes care, neurostimulators, cochlear implants, and other medical devices. The drug delivery devices dominated the market with a revenue of about USD 1.6 Billion in 2023.

• Ongoing innovations in drug delivery technologies, such as microfluidics, nanotechnology, microneedles, and implantable devices, are fueling advancements in medical device design and development services. Designers and engineers utilize these technologies to develop next-generation drug delivery devices with enhanced precision, safety, and therapeutic outcomes. Thereby driving the revenue growth in the segment.
• Significant advancements in biopharmaceutical products such as protein-based therapeutics, monoclonal antibodies, gene therapies, and RNA-based drugs, along with innovations in mode of deliveries are driving the requirements for specialized delivery platforms, which is increasing the revenue growth in drug delivery devices segment.
• Increasing prevalence of chronic diseases along with patient centric treatment approaches are further driving the use of advanced drug delivery devices. Drug delivery devices focus on patient-centric care by providing convenient, painless, and non-invasive administration routes, enhancing treatment adherence and patient satisfaction.

Based on application, the medical device design and development services market is categorized into treatment and diagnosis. The treatment segment accounted for significant market share and is anticipated to reach USD 19 billion by 2032.

• The key factor contributing to the growth of this segment is the growing need for treatment-focused medical devices driven by demographic factors such as an aging population and rising prevalence of chronic diseases. Healthcare providers, patients, and regulatory agencies are emphasizing the development of effective treatment methods to meet these demands and improve patient outcomes.
• Moreover, treatment-focused medical devices often involve complex engineering challenges, clinical and regulatory considerations, which require specialized expertise in design, development, and testing. As a result, the demand for outsourcing the design and development of treatment-focused medical devices is increasing globally

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Based on end-use, the medical device design and development services market is classified into medical device companies and biotechnology companies. The medical device companies segment accounted for USD 9.2 billion in 2023 and is anticipated to grow at 13.5% CAGR during the forecast period.

• Growing demand for treatment devices such as cardiovascular devices, imaging devices, orthopedic devices for effectively treatment chronic conditions is driving the revenue growth in medical device company’s segment.
• Biotechnology companies comparatively have only specific requirements of specialized medical devices such as drug delivery platforms, and imaging devices to support their research and to commercialize biopharmaceutical products.
• Increasing investments from medical devices companies in developing advanced medical devices with wireless connectivity features to support connected digital infrastructure across healthcare settings is further driving the revenue growth in the segment

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North America medical device design and development services market accounted for 40.1% of market share in global market and is predicted to reach USD 12.3 billion by 2032.

• Increasing investments from established medical device manufacturers-based in North America on the research and development to drive innovation in medical device design, leveraging advancements in areas such as artificial intelligence, robotics, nanotechnology, and 3D printing to develop cutting-edge technology is fueling the market growth.
• Presence of established healthcare infrastructure and trained medical practitioners that are among the early adopters of advanced medical technologies is also supporting the market growth.
• Furthermore, due to increasing demand for medical device manufacturing, medical device companies and biotechnology companies are increasingly shifting their focus towards outsourcing the design and development of medical devices to service providers.

The U.S. medical device design and development services market was valued at USD 3.6 billion in 2023 and is anticipated to grow at a CAGR of 13.0% over the forecast period.

• The dominating position of the U.S. can be attributed to the presence of established players in the country. Owing to the presence of stringent regulatory requirements, the established vendors heavily rely on Medical Device Design and Development Services providers, that have expertise in regulatory compliances throughout the design and development process, facilitating market approval and commercialization.
• Moreover, increasing prevalence of chronic diseases and availability of robust healthcare infrastructure for timely diagnosis and treatment of complex disorders is also fueling the growth in the market.

Germany medical device design and development services market is expected to show lucrative growth opportunities during the forecast period.

• Increasing prevalence of chronic diseases such as cardiovascular diseases, cancer, diabetes, and respiratory disorders are necessitating the use of medical devices for disease monitoring, management, and treatment, thereby driving the market growth in Germany.
• In addition, growing support from government through funding programs such as European Regional Development Fund, cohesion policy 2021-2027, and Horizon Europe are also driving the medical device research and development activities in Germany.
• These programs mainly focus on health and health-sector-related innovation and the projects funded through these programs mainly target cancer treatments, aging, smart health, and digital models of care.

India medical device design and development services market is anticipated to grow remarkably over the coming years.

• Increasing government investments to modernize healthcare infrastructure and provide advanced medical infrastructure is driving the demand for advanced medical devices such as medical robots and smart medical devices in the country.
• Availability of large patient population and growing access to medical care is further driving the demand for new medical devices across healthcare settings in India.
• Growth in local development and manufacturing of medical devices is further fueling the demand for outsourcing medical device design and development services. According to the Invest India, Indian medical device industry has presence of about 750-800 local manufacturers contributing to about 65% of the medical device market.

Medical Device Design and Development Services Market Share

The market is fragmented due to the presence of many established vendors that offers offer end-to-end services for medical device design and development from concept ideation to commercialization. These companies leverage their scale, resources, and global presence to serve large medical device manufacturers and biotechnology companies.

Medical Device Design and Development Services Market Companies

Prominent players operating in the market include

• Veranex, Inc. (Ximedica)
• DeviceLAb Inc.
• Jabil, Inc.
• Flex Ltd.
• Plexus Corporation
• Nordson Corporation
• Celestica, Inc.
• StarFish Product Engineering Inc.
• Planet Innovation
• Donatelle
• Cambridge Design Partnership Ltd.
• Aran Biomedical
• Cirtec
• Integer Holdings Corporation
• Sanmina Corporation
   

Medical Device Design and Development Services Industry News

• In October 2023, Cambridge Design Partnership Ltd. announced its partnership with Re-Vana Therapeutics Ltd. to develop a pioneering delivery system for OcuLief, Re-Vana's gel-based implant designed to form in-situ for prolonged biologic delivery.

• In May 2023, DeviceLab Inc. announced its partnership with Nouslogic Telehealth, Inc. for the development and marketing of next-generation, wireless medical devices, and remote patient monitoring systems.

The medical device design and development services market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 - 2032 for the following segments

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Market, By Services

• Designing & engineering
• Machining
• Molding
• Packaging

Market, By Device Type

• Drug delivery devices
  • Infusion pumps
  • Autoinjectors
  • Prefilled syringes
  • Inhalers
  • Transdermal patches
  • Nebulizers
  • Nasal spray
  • Intrauterine devices (IUDs)
• Imaging devices
  • CT scanners
  • MRI scanners
  • X-ray
  • Ultrasound
  • Nuclear imaging scanners
• Cardiovascular devices
  • Pacemakers
  • Implantable cardioverter defibrillators (ICDs)
  • ECMO systems
  • Ventricular assist devices
  • Total artificial hearts
  • Cardiac loop recorders
  • Holter monitors
  • Event monitors
  • Consumables
• POC diagnostic equipment
  • Blood glucose monitor
  • Blood pressure monitor
  • Blood analyzer
  • Coagulation testing kit
  • Cardiac markers test
  • Infectious diseases testing
  • Hb1Ac testing
  • Pregnancy test kit
  • Thyroid stimulating hormone test
  • Other diagnostic equipment
• Orthopedic devices
  • Orthopedic navigation systems
  • Prosthetics
  • Other orthopedic devices
• Surgical devices
  • Surgical robots
  • Other surgical devices
• Dental devices
• Sleep & respiratory devices
  • Positive airway pressure (PAP) devices
  • Ventilators
  • Oxygen concentrators
  • Other sleep & respiratory devices
• Ophthalmology devices
  • Optical coherence tomography
  • Slit lamps
  • Fundus cameras
  • Corneal topography systems
  • Other ophthalmology devices
• Endoscopy
• Diabetes care
• Neurostimulators
  • Deep brain stimulators
  • Spinal cord stimulators
  • Other neurostimulators
• Cochlear implants
• Other medical devices

Market, By Application

• Treatment
• Diagnostics

Market, By End Use

• Medical device companies
• Biotechnology companies

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa