ALBANY, N.Y.--(BUSINESS WIRE)--Advances in the medical technology industry are proving favorable for the growth of the global medical devices outsourcing market, finds a latest report published by Transparency Market Research. The report titled ‘Medical Devices Outsourcing Market - Global Industry Size, Market Share, Trends, Analysis, and Forecast, 2012-2018’ states that the market will go from its 2012 value of US$21.1 billion to US$40.8 billion by the end of 2018. This translates into a moderately healthy CAGR of 11.6% between 2012 and 2018. According to the findings of this market research report, the product design segment enjoys a dominant position, with a 29% share of the overall service market within the global medical devices outsourcing industry.
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The market, when segmented on the basis of application, sees class II devices taking a lead over all other types of applications. Class II devices are subject to a relatively lower number of regulatory mandates and are classified as being ‘medium risk’ as compared against class III devices.
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Breakthroughs and new developments have been widely seen in the global medical device market – a thriving branch of the life sciences industry. Risks taken by players in the global medical devices outsourcing and manufacturing market are amply compensated for by the high profit margins that prevail in this industry. Robust demand for medical devices outsourcing provides additional impetus to this industry. Medical devices outsourcing companies—alongside medical device manufacturers and service outsourcing companies—are key participants of the medical devices industry. Lured by the promise of rapid and substantial profits, many players have ventured into the global medical devices outsourcing market, transforming it into an acutely competitive space.
Other Reports:
- Oxygen Therapy Devices Market: http://www.transparencymarketresearch.com/oxygen-therapy-market.html
- Medical Equipment Rental Market: http://www.transparencymarketresearch.com/medical-equipment-rental.html
The global medical devices outsourcing market report analyzes and assesses both opportunities and threats in the market.
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