Outsourcing Market will Continue to Grow Driven by the Demand from Medical Equipment Industry

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(Free-Press-Release.com) February 11, 2010 -- Outsourcing in the Global Medical Equipment Industry - The Market Expected to Register High Growth in the Future

IT provides key data, information and analysis on the global medical equipment outsourcing industry. The report analyses the drivers behind outsourcing of manufacturing, clinical research and other support services to low-cost service providers based in Asian countries and elsewhere. The report also provides information on the key economies attracting majority of medical equipment outsourced work. The report is also supplemented with information on the preferred vendors executing most of the medical equipment outsourcing work. http://www.tinyurl.com/yl2frpu

Outsourcing Market will Continue to Grow Driven by the Demand from Medical Equipment Industry

The global medical equipment outsourcing market is forecast to reach $40.1 billion by 2016 with a CAGR of 16.3%. The ageing population, advancements in technology, desires to lead active lifestyles, the rise in chronic conditions and increased public & private spending are expected to drive the medical equipment market. These drivers are providing a promising opportunity for the medical equipment companies and service providers. Also, the increasing desire by the medical equipment companies to improve cost savings and to bring products to the market quickly is expected to drive the medical equipment outsourcing market in the future.

Contract Manufacturing is Expected to Remain the Major Contributor of Medical Outsourcing Market

Contract manufacturing accounted for 90% of the global medical equipment outsourcing market in 2009 and is expected to contribute 91.7% by 2016. This market is forecast to reach $36.8 billion by 2016 with a CAGR of 16.5%. Contract manufacturing remains the key market segment driving growth within the outsourcing market. The contract manufacturing market is expected to be driven by the increasing desire of the medical equipment manufacturers to reduce direct expenses and streamline supply chains. Outsourcing of manufacturing activities has helped medical equipment companies to reduce costs by between 10% and 25%.

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