CHICAGO, April 29, 2024 (Globe Newswire) — Diagnostic contract manufacturing market According to the latest report published by MarketsandMarkets™, sales are estimated to be worth $26 billion in 2023 and are expected to reach $44.9 billion by 2028, growing at a CAGR of 11.5% from 2023 to 2028 .
The growth of this market is primarily driven by the increasing adoption of robotics and automation in manufacturing processes and the expansion of outsourcing activities by IVD manufacturers. However, intellectual property protection concerns and potential theft are likely to restrain market growth.
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Contract manufacturing of diagnostic equipment market range:
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Report scope |
detail |
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Market revenue in 2023 |
$26 billion |
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Estimates until 2028 |
$44.9 billion |
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growth rate |
Expected to grow at a CAGR of 11.5% |
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Available market size |
2021–2028 |
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Forecast period |
2023-2028 |
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prediction unit |
Value (US$ billion) |
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Report scope |
Revenue forecast, competitive environment, growth factors, trends |
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Target segment |
Devices, services and applications |
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Target area |
North America, Europe, Asia Pacific, and Rest of the World |
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Report highlights |
Updated player financial information/product portfolio |
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Key market opportunities |
Growth opportunities in emerging countries |
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Key market drivers |
High cost of in-house IVD manufacturing |
Diagnostic contract manufacturing is a process in which a manufacturing company produces diagnostic devices or components of devices that can later be sold by other companies. Diagnostic equipment contract manufacturers specialize in a particular process or task and provide expertise because they frequently perform manufacturing.
Diagnostic contract manufacturing is mainly classified into the following depending on the equipment. for in vitro diagnostics device, Diagnostic imaging devices, and other devices. The in vitro diagnostic equipment market segment is dominated by favorable government regulations for outsourcing, automation, and technological advancements in equipment with high-throughput capabilities.
Based on this service, the global diagnostic contract manufacturing market is segmented into device development and manufacturing services, quality control services, packaging and assembly services, and other services. Device development and manufacturing services dominate the market and include device engineering services, process development services, and device manufacturing services.
Based on application, the IVD contract manufacturing market is segmented into various segments such as infectious diseases, diabetes, oncology, and cardiology. Cardiology is expected to register the highest growth rate during the forecast period due to increasing adoption of technologically advanced diagnostic equipment for heart diseases.
Based on regional segmentation, the diagnostic contract manufacturing market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Asia Pacific region accounts for the largest share and is expected to dominate the diagnostic contract manufacturing market. The growth of the Asia-Pacific market is primarily driven by the region's less stringent regulatory scenario and strategic locations for carrying out manufacturing operations.
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The key players in the Diagnostic Contract Manufacturing market covered in the report are:
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Jabil Inc. (USA)
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Flex (Singapore)
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Plexus (USA)
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Sanmina Corporation (USA)
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TE Connectivity Ltd. (Switzerland)
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Celestica Inc. (Canada)
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Integer Holdings Corporation (USA)
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Nipro Co., Ltd. (Japan)
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Thermo Fisher Scientific (USA)
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West Pharmaceutical Services Inc. (USA)
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Benchmark Electronics Inc. (USA)
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Kimball Electronics (USA)
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KMS Systems (USA)
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Savyon Diagnostics (Israel)
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Nova Biomedical (USA)
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Cenegenics Corporation (USA)
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Cone Bioproducts (USA)
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Abioc Inc. (USA)
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Philips Medisize Corporation (USA)
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Invtech (Australia)
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Meridian Bioscience, Inc. (USA)
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Norato AB (Sweden)
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Fujirebio (Japan)
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Sekisui (USA)
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Prestige Diagnostics (UK)
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Biokit (Spain)
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and above all
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This research report categorizes the Diagnostic Contract Manufacturing market into the following segments and subsegments:
Regional division
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North America
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Europe
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Asia Pacific
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Rest of the world
Product division
Service split
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Device development and manufacturing services
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quality control service
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Packing and assembly services
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Other services
Splitting the application
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Key market players:
Report purpose:
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Define, describe, segment, and forecast the global diagnostic contract manufacturing market by device type, service, application, and region.
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To provide detailed information about the key factors influencing the growth of the market (drivers, constraints, opportunities, challenges, trends, etc.)
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To analyze the micro markets with respect to individual growth trends, prospects and contribution to the overall Diagnostic Manufacturing market.
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To analyze market opportunities for stakeholders and provide details of the competitive environment for key players
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Forecast the size of the market segments into four regions: North America, Europe, Asia Pacific, and Rest of the World
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To profile key companies and comprehensively analyze their product portfolio, market position and core competencies
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Benchmark the players within your market using our proprietary company valuation matrix framework. It analyzes market players on various parameters within broad categories of business and product excellence.
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Content source: https://www.marketsandmarkets.com/PressReleases/diagnostic-contract-manufacturing.asp
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