Diagnostic Contract Manufacturing Market is Expected to Reach $44.9 billion | MarketsandMarkets™

Chicago, April 29, 2024 (GLOBE NEWSWIRE) -- *Diagnostic Contract Manufacturing market* in terms of revenue was estimated to be worth $26.0 billion in 2023 and is poised to reach $44.9 billion by 2028, growing at a CAGR of 11.5% from 2023 to 2028 according to a latest report published by MarketsandMarkets™.

The growth of this market is majorly driven by the increasing adoption of robotics and automation in the manufacturing process and growing outsourcing activity by IVD manufacturers. However, IP protection concerns, and the possibility of theft may restrain the market growth.

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*Diagnostic Contract Manufacturing** Market** Scope:*

*Report Coverage* *Details*
Market Revenue in 2023 $26.0 billion
Estimated Value by 2028 $44.9 billion
Growth Rate Poised to grow at a CAGR of 11.5%
Market Size Available for 2021–2028
Forecast Period 2023–2028
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Device, Service, and Application
Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
Report Highlights Updated financial information / product portfolio of players
Key Market Opportunity Growth opportunities in emerging countries
Key Market Driver High cost of in-house IVD manufacturing

Diagnostic contract manufacturing is a process wherein a manufacturing company makes diagnostic devices or the components of devices that can be sold later by other companies. Diagnostic device contract manufacturers specialize in a certain process or task and offer expertise due to their frequent practice of manufacturing.

Based on the device, diagnostic contract manufacturing is mainly categorized into *In vitro diagnostic* devices, *diagnostic imaging* devices, and other devices. In vitro diagnostic devices market segment dominates the market due to favorable government regulations for outsourcing and automation and technological advancements in instruments with high-throughput capabilities.
Based on the service, the global diagnostic contract manufacturing market is segmented into device development and manufacturing services, quality management services, packaging and assembly services, and other services. Device development and manufacturing services dominate the market, which includes device engineering services, process development services, and device manufacturing services.

Based on the application, the IVD contract manufacturing market is categorized into various segments, like infectious diseases, diabetes, oncology, cardiology, and others. Cardiology to observe the highest growth rate during the forecast period attributed to the rising adoption of technologically advanced diagnostic devices for cardiac diseases.

Based on the region segmentation, the diagnostic contract manufacturing market is divided into North America, Europe, Asia Pacific, and Rest of the World (RoW). Asia Pacific holds the largest share and expects to dominate the diagnostic contract manufacturing market. Growth in the Asia Pacific market is mainly driven by less stringent regulatory scenarios in the region and strategic locations to carry out manufacturing operations.

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*Diagnostic Contract Manufacturing market major players covered in the report, such as:*

· Jabil Inc. (US)
· Flex Ltd. (Singapore)
· Plexus Corp. (US)
· Sanmina Corporation (US)
· TE Connectivity Ltd. (Switzerland)
· Celestica Inc. (Canada)
· Integer Holdings Corporation (US)
· Nipro Corporation (Japan)
· Thermo Fisher Scientific (US)
· West Pharmaceutical Services Inc. (US)
· Benchmark Electronics Inc. (US)
· Kimball Electronics Inc. (US)
· KMS Systems (US)
· Savyon Diagnostics (Israel)
· Nova Biomedical (US)
· Cenegenics Corporation (US)
· Cone Bioproducts (US)
· Avioq, Inc. (US)
· Philips-Medisize Corporation (US)
· Invetech (Australia)
· Meridian Bioscience, Inc. (US)
· Nolato AB (Sweden)
· Fujirebio (Japan)
· Sekisui (US)
· Prestige Diagnostics (UK)
· Biokit (Spain)
· and Among Others

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*This research report categorizes the Diagnostic contract manufacturing market into the following segments and subsegments:*

*Regional Split*

· North America
· Europe
· Asia Pacific
· Rest of the World

*Product Split*

· In Vitro Diagnostic Devices

· IVD Consumables
· IVD Equipment

· Diagnostic Imaging Devices

· CT
· X-ray
· Ultrasound
· MRI
· Others

· Other Devices

*Service Split*

· Device Development and Manufacturing Services
· Quality Management Services
· Packaging and Assembly Services
· Other Services

*Application Split*

· In Vitro Diagnostic Devices

· Infectious Diseases
· Diabetes
· Oncology
· Cardiology
· Other Applications

· Diagnostic Imaging Devices

· Cardiology
· Oncology
· Orthopedics
· Neurology
· Other Applications

· Other Devices

· Gastroenterology
· Gynecology
· Other Applications

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*Key Market Stakeholders:*

· Senior Management
· End User
· Finance/Procurement Department
· R&D Department

*Report Objectives:*

· To define, describe, segment, and forecast the global diagnostic contract manufacturing market by device type, service, application, and region
· To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, challenges, and trends)
· To analyze the micro markets with respect to individual growth trends, prospects, and contributions to the overall diagnostic contract manufacturing market
· To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
· To forecast the size of the market segments with respect to four regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World
· To profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
· To benchmark players within the market using the proprietary Company Evaluation Matrix framework, which analyzes market players on various parameters within the 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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