The diagnostic contract manufacturing from The Business
Research Company provides comprehensive market statistics, including global
market size, regional shares, competitor market share, detailed segments,
trends, and opportunities. This report offers an in-depth analysis of current
and future industry scenarios, delivering a complete perspective for thriving
in the industrial automation software market.
Diagnostic Contract Manufacturing Market, 2024 report by The Business Research
Company offers comprehensive insights into the current state of the market and
highlights future growth opportunities.
Market Size -
The diagnostic contract manufacturing market size has grown rapidly in recent
years. It will grow from $27.44 billion in 2023 to $31.29 billion in 2024 at a
compound annual growth rate (CAGR) of 14.0%.
The growth in the historic period can be attributed to increasing demand
for outsourcing, cost efficiency achieved through outsourcing manufacturing,
increasing regulatory requirements for quality and compliance in the diagnostic
industry, shortened product lifecycles in the diagnostic market necessitated
flexible manufacturing solutions, and globalization of diagnostic companies'
operations and supply chains increased.
The diagnostic contract manufacturing market size is expected to see rapid
growth in the next few years. It will grow to $53.74 billion in 2028 at a
compound annual growth rate (CAGR) of 14.5%.
The growth in the forecast period can be attributed to increasing demand
for personalized diagnostic tests and companion diagnostics, expansion of
point-of-care testing and decentralized diagnostic platforms, tightening
regulatory requirements for diagnostic products, increase in outsourcing of
specialty testing, such as molecular diagnostics and immunoassays, and shift
towards flexible manufacturing. Major trends in the forecast period include
adoption of automation and robotics in diagnostic manufacturing processes,
utilization of 3D printing technologies for rapid prototyping and customization
of diagnostic devices, integration of artificial intelligence (AI) and data
analytics into diagnostic manufacturing processes, and implementation of
digital twin technology to simulate and optimize manufacturing processes in the
virtual environment before physical implementation.
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Scope Of Diagnostic Contract Manufacturing Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Diagnostic Contract Manufacturing Market Overview
Market Drivers -
An increasing focus on preventive healthcare is expected to propel the growth
of the diagnostic contract manufacturing market going forward. Preventive
healthcare refers to measures taken to prevent the occurrence or development of
disease, illness, or injury. The focus on preventive healthcare is due to
rising healthcare costs, shifts in healthcare priorities, a rise in chronic
diseases, and population aging. Diagnostic contract manufacturing contributes
to increasing the focus on preventive healthcare by providing essential
diagnostic tools and tests, offering customized solutions, ensuring quality and
regulatory compliance, supporting scalability, and enabling cost-effective
solutions for disease prevention and early intervention. For instance, in March
2024, according to a report published by Eurostat, a Luxembourg-based
government statistical agency, in 2021, expenditure on preventive healthcare in
the EU surged by 88.2% compared to the previous year, reaching 0.65% of GDP.
Further, immunization programs witnessed a notable rise in their share of total
preventive care spending, increasing from 13.7% in 2020 to 29.1% in 2021.
Therefore, an increasing focus on preventive healthcare drives the diagnostic
contract manufacturing market.
Market Trends -
Major companies operating in the diagnostic contract manufacturing market are
adopting a strategic partnership approach to support the production of
diagnostic equipment and gain a competitive advantage. A strategic partnership
typically refers to a collaborative relationship between two or more
organizations combining their resources, expertise, and efforts to achieve
common goals or objectives. For instance, in July 2022, Highfield Diagnostics
Ltd., a UK-based diagnostics company, collaborated with SCIENION GmbH, a
Germany-based bio convergence company offering diagnostic contract
manufacturing services, for the development and deployment of equipment for
mass manufacturing lateral flow tests (LFTs) incorporating HDx's flowDx
technology. The collaboration aims to utilize SCIENION's manufacturing
capabilities to finalize equipment designs and manufacturing processes for
cost-effective and high-throughput production of flowDx-enabled LFTs. flowDx
technology, developed over seven years of academic research, enables precise
control of fluidic flows in LFTs, allowing for parallel multiplexing, enhanced
accuracy, and semi-quantitative results.
The diagnostic contract manufacturing market covered in this report is
segmented –
1) By Service: Device Development And Manufacturing Services, Quality
Management Services, Packaging And Assembly Services, Other Services
2) By Application: In Vitro Diagnostic Devices, Diagnostic Imaging Devices,
Other Applications
3) By End User: Medical Device Companies, Pharmaceutical And Biopharmaceutical
Companies, Other End Users
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Regional Insights -
North America was the largest region in the diagnostic contract manufacturing
market in 2023. The regions covered in the diagnostic contract manufacturing
market report are Asia-Pacific, Western Europe, Eastern Europe, North America,
South America, Middle East, Africa.
Key Companies -
Major companies operating in the diagnostic contract manufacturing market
are Thermo Fisher Scientific Inc.,
Abbott Laboratories, Jabil Inc., Flex Ltd., Becton Dickinson and Company (BD),
TE Connectivity Ltd., Sekisui Diagnostics LLC, Sanmina Corporation, Celestica
Inc., Nipro Medical Corporation, Philips-Medisize Corporation, Plexus Corp,
West Pharmaceutical Services Inc., Benchmark Electronics Inc., Bio-Rad
Laboratories, QIAGEN N.V., Kimball Electronics Inc., Integer Holdings
Corporation, Bio-Techne Corporation, Nolato AB, Nova Biomedical Corporation,
Meridian Bioscience Inc., Fujirebio Inc., Biokit S.A., Invetech Pty. Ltd., KMC
Systems, Savyon Diagnostics Ltd., Prestige Diagnostics U.K. Ltd., Cenogenic
Corporation, Avioq Inc.
Table of Contents
1. Executive Summary
2. Diagnostic Contract Manufacturing Market Report Structure
3. Diagnostic Contract Manufacturing Market Trends And Strategies
4. Diagnostic Contract Manufacturing Market – Macro Economic Scenario
5. Diagnostic Contract Manufacturing Market Size And Growth
…..
27. Diagnostic Contract Manufacturing Market Competitor Landscape And Company
Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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