Diagnostic Contract Manufacturing Market Size, Share & Trends Analysis Report By Device (In Vitro Diagnostic Devices (IVD Consumables, IVD Equipment), Diagnostic Imaging Devices (X-ray, CT scan, Ultrasound, MRI, Others), Other Devices), By Service (Device Development & Manufacturing, Quality Management, Packaging & Assembly), By Application, By Region, And By Segment Forecasts, 2024-2031.

Diagnostic Contract Manufacturing Market Size is valued at USD 25.7 Bn in 2023 and is predicted to reach USD 57.9 Bn by the year 2031 at a 10.78% CAGR during the forecast period for 2024-2031.

Diagnostic contract manufacturing is a vital element of the diagnostics supply chain, providing customized solutions that allow diagnostic organizations to allocate more resources towards product innovation and market growth, all the while capitalizing on specialized manufacturing proficiency. In the diagnostics industry, it is common practice to streamline procedures and tap into the expertise of particular manufacturers. There are several benefits of IVD contract manufacturing. 

Diagnostic companies can profit from efficient and cost-effective production while focusing on R&D, marketing, and other key skills by outsourcing to specialized manufacturers. Production costs, operational efficiency, and the time it takes to bring new diagnostic equipment to market might all be improved with this strategy. Companies can access global markets through contract manufacturers, who are already established, and save considerably by investing in infrastructure. Furthermore, innovations in in vitro diagnostics are driving the market forward.

However, the market growth is hampered by the technical issues criteria for the safety and health of the diagnostic contract manufacturing market and the product's inability to prevent fog in environments with dramatic temperature fluctuations or high diagnostic contract manufacturing because of issues with intellectual property and the complexity of customizing products. Intellectual property protection becomes more difficult when diagnostic contract businesses and contract manufacturers work together because of the sharing of confidential information and technology. A lack of open collaboration could affect IVD companies' desire to engage in outsourcing partnerships because there are worries regarding the safety of data and the possibility of unlawful exploitation of novel diagnostic technologies. The market for in-vitro diagnostics has been affected in different ways by the COVID-19 epidemic. Even though the pandemic immediately hampered research and laboratory operations, it ultimately brought attention to the need for RNA-based research and therapies.

Competitive Landscape

Some Major Key Players In The Diagnostic Contract Manufacturing Market:

• Jabil Inc.
• Flex Ltd.
• Plexus Corp
• Sanmina Corporation
• TE Connectivity Ltd.
• Celestica Inc.
• Integer Holdings Corporation
• Nipro Medical Corporation
• Thermo Fisher Scientific
• West Pharmaceutical Services, Inc.
• Benchmark Electronics Inc.
• Kimball Electronics Inc.
• KMC Systems
• Savyon Diagnostics
• Nova Biomedical
• Cenogenic Corporation
• Cone Bioproducts
• Avioq Inc.
• Philips-Medisize Corporation
• Invetech
• Meridian Bioscience, Inc.
• Nolato AB
• Fujirebio
• Sekisui
• Prestige Diagnostics
• Biokit
• Other Market Players

Market Segmentation:

The diagnostic contract manufacturing market is segmented based on device, service and application. The Device segment comprises In Vitro Diagnostic Devices (IVD Consumables, IVD Equipment), Diagnostic Imaging Devices (X-ray, CT scan, Ultrasound, MRI, Others), and Other Devices. Whereas, By Service, the market is segmented as Device Development & Manufacturing, Quality Management, and Packaging & Assembly. The Application segment includes In Vitro Diagnostic Devices (Infectious Diseases, Diabetes, Oncology, Cardiology, Others), Diagnostic Imaging Devices (Cardiology, Neurology, Orthopedics, Oncology, Others), and Other Devices (Gastroenterology, Gynecology, Others).

Based On The Device, The In Vitro Diagnostic Devices Segment Is Accounted As A Major Contributor To The Diagnostic Contract Manufacturing Market 

The in vitro diagnostic devices diagnostic contract manufacturing market is expected to lead with a major global market share in 2023. In vitro diagnostic procedures involve the examination of a patient's blood or tissue samples. They help monitor the patient's vitals and are utilized for precise diagnostic testing of illnesses and other underlying conditions. Each patient's best course of treatment can be better determined with the help of these diagnostic tests. With the rise in both acute and chronic disorders continuing to rise, the in vitro diagnostics business is seeing rapid growth.

Quality Management Segment To Witness Growth At A Rapid Rate.

The quality management industry uses the bulk of acrylic acid ester usage because, with the support of a quality management system (QMS), customers may be confident that their needs will be fully addressed, if not surpassed. In order to optimize operations, reduce waste, and identify and eliminate process inefficiencies, a corporation should develop a quality management system, especially in countries like the US, Germany, the UK, China, and India.

In The Region, The North American Diagnostic Contract Manufacturing Market Holds A Significant Revenue Share.

The Asia Pacific diagnostic contract manufacturing market is expected to register the large market share in revenue in the near future. It can be attributed to increasing supportive government policies and a robust diagnostic system. In addition, North America is projected to grow rapidly in the global diagnostic contract manufacturing market because of the improvement of healthcare facilities and the increasing presence of many target groups in this region.

Recent Developments: 

• In May 2020, Celestica's Newmarket Operation has successfully obtained a contract with StarFish Medical Inc. to manufacture ventilators specifically for the Canadian market. StarFish Medical selected Celestica due to its vast expertise in design, supply chain management, ISO 13485 certified production, and dedication to upholding the most stringent quality and regulatory requirements.

• In May 2020, Sanmina Corporation has successfully obtained the Medical Device Single Audit Program certification for its operations in Malaysia, Singapore, and Sweden. The MDSAP accreditation allows for a single audit of the three manufacturing facilities by a recognized third party, ensuring compliance with laws for medical device markets in Australia, Brazil, Canada, Japan, and the US.

Diagnostic Contract Manufacturing Market Report Scope