Diagnostic Contract Manufacturing Market

The report "Diagnostic Contract Manufacturing Market by Device (In Vitro Diagnostic Devices and Diagnostic Imaging Devices), Service (Device Development & Manufacturing, Quality Management, and Packaging & Assembly), Application, Region - Global Forecast to 2028", is projected to reach USD 44.9 billion by 2028 from USD 26.0 billion in 2023, at a CAGR of 11.5% during the forecast period. The growth of this market is majorly driven by rising demand for early diagnosis and widening clinical applications scope and growth opportunities in emerging economies with favorable manufacturing conditions and labor costs.

Browse 183 market data Tables and 37 Figures spread through 218 Pages and in-depth TOC on "Diagnostic Contract Manufacturing Market by Device (In Vitro Diagnostic Devices and Diagnostic Imaging Devices), Service (Device Development & Manufacturing, Quality Management, and Packaging & Assembly), Application, Region - Global Forecast to 2028"
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The IVD Consumables segment is expected to account for the largest share in 2022.

The increased accessibility and demand for reagents & kits and the rising number of IVD tests performed are the key factors driving the growth of this segment. The IVD devices market is segmented into IVD consumables and IVD equipment. The low cost of outsourcing consumables production has supported market growth by ensuring high-scale production.

The CT segment held the largest market share in the diagnostic imaging devices market.

By device type, the global diagnostic imaging devices mar ket is broadly segmented into CT scans, X-rays, MRI, Ultrasound, and Others. The increasing availability of CT devices in major markets and technological advancements in CT offering faster and more precise results drive the growth of this market. These technologically advanced diagnostic imaging systems is high in mature markets. Due to rapid economic growth, the adoption of these devices is expected to increase in developing countries in the coming years.

Asia Pacific dominates the global diagnostic contract manufacturing market.

Based on the region, the diagnostic contract manufacturing market is segmented into North America, Europe, Asia Pacific, and Rest of the World. The North American market is driven by improved industrial and healthcare infrastructure and the competitive manufacturing capabilities of companies providing diagnostic contract manufacturing services. Europe's market is driven by favorable government policies. Asia Pacific will observe high growth during the forecast period with its increasing focus and expansion of players in the market.

Major players in the diagnostic contract manufacturing market include Jabil Inc. (US), Flex Ltd. (Singapore), Plexus Corp (US), Sanmina Corporation (US), TE Connectivity Ltd. (Switzerland), and Celestica Inc. (Canada).

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