Medical device engineering provides custom product development, regulatory support, quality assurance, and other expertise that helps medical innovators bring safer, more effective solutions to patients. From designing implantable devices to developing digital health platforms, engineering services enable medical breakthroughs that save and improve lives.
The global medical device engineering services market is estimated to be valued at US$5.64 billion in 2024 and is expected to exhibit a CAGR of 11% over the forecast period of 2024 to 2031. Medical device engineering supports the entire product lifecycle from concept to post-market solutions. As healthcare increasingly emphasizes connectivity, interoperability, data analytics and remote care, digital transformation is a key opportunity driving 11% annual growth in engineering services.
Key Takeaways
Key players operating in the medical device engineering services market include Infosys Limited, Cyient, Accenture, Embien Technologies India Pvt Ltd., Saraca Solutions Private Limited, Tata Elxsi, Iziel, Wipro, Althea Group, LT Technology Services Limited., Altran, ALTEN Technology, Flextronics International, LTD., Nordson Corporation, ClariMed, Inc.
Rising chronic diseases and the need for innovative treatments are increasing demand for specialized medical devices. Engineering services help original equipment manufacturers efficiently bring new products from design through regulatory approval.
Advancing technologies like AI, 3D printing, IoT and digital healthcare platforms require specialized engineering expertise that is accelerating demand for outsourced engineering partners with deep domain knowledge and experience across various technologies.
Market Trends
Customized engineering solutions tailored for specific medical specialties like cardiology, orthopedics, neurology are a key trend driving more collaborative partnerships between OEMs and Global Medical Device Engineering Services Market Size . Emerging areas like surgical robotics, medical imaging also require sophisticated multidisciplinary engineering capabilities.
Digital health and remote patient monitoring are seeing accelerated growth and imposing new requirements for data security, interoperability and regulatory compliance that engineering services are well-positioned to address.
Market Opportunities
The shift towards value-based care delivery is creating opportunities for non-invasive, preventative technologies and diagnostics that leverage connectivity and predictive analytics. Engineering services play a vital role in developing these digital health solutions.
As healthcare infrastructure grows in emerging markets, there are greater needs for cost-effective, easy to deploy medical technologies. Engineering service providers can tap into this market by developing innovations tailored for resource-constrained environments.
Impact of COVID-19 on Medical Device Engineering Services Market Growth
The COVID-19 pandemic has significantly impacted the growth of the medical device engineering services market. Lockdowns and supply chain disruptions imposed globally affected the operations and development of various medical devices. However, the pandemic also highlighted the importance of medical technology and fueled investments toward developing new healthcare solutions.
In the pre-COVID era, the market was growing at a steady pace owing to the rising demand for innovative medical devices across areas such as diagnostics, therapeutics, drug delivery, and minimally invasive surgeries. Outsourcing of engineering services helped OEMs focus on their core competencies.
The pandemic led to short-term disruptions as engineering teams faced challenges in product development and clinical trials due to travel restrictions and delayed approvals. It also lowered the demand for elective medical devices in 2020. However, the need to tackle the virus has accelerated R&D activities toward developing COVID-19 diagnostics, ventilators, and therapeutic devices.
Looking ahead, the demand is expected to remain higher than pre-pandemic levels as healthcare infrastructure strengthens globally. Service providers are leveraging digital technologies like AI, ML, and cloud to offer remote engineering solutions. Medical device companies are prioritizing innovation at a faster pace to build resilience against future healthcare crises. Remote monitoring devices and digital health platforms will continue gaining prominence.
Medical Device Engineering Services Market Concentration in North America
North America accounts for the largest share of the global medical device engineering services market in terms of value. Advanced healthcare infrastructure, presence of leading medical device companies, and higher per capita healthcare spending have fueled market growth in the region. The US dominates the North American market owing to supportive regulations and a favorable environment for developing novel medical technologies. countries like Canada and Mexico are also lucrative markets.
Asia Pacific is the Fastest Growing Region for Medical Device Engineering Services Market
The Asia Pacific region is poised to grow at the fastest rate for the medical device engineering services market over the forecast period. Improving access to healthcare through policies like Ayushman Bharat in India and rapid economic development in various APAC countries are driving higher healthcare investments. An increasing elderly population and growing burden of lifestyle diseases have augmented the demand for innovative medical solutions. Moreover, the availability of low-cost highly skilled engineering talent is attracting medical device giants to outsource R&D activities to APAC nations like China, India, and South Korea. Governments are also promoting local manufacturing through initiatives such as Made in China 2025, which will likely accelerate market expansion.
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