Diagnostic Contract Manufacturing Market Growth, Size, Forecast Report 2024-2033
Global diagnostic contract manufacturing market size is expected to reach $53.74 Bn by 2028 at a rate of 14.5%, segmented as by service, device development and manufacturing services, quality management services
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Overview and Scope
Diagnostic contract manufacturing refers to outsourcing manufacturing processes and services by diagnostic companies to specialized contract manufacturing organizations (CMOs) or contract development and manufacturing organizations (CDMOs). It involves outsourcing manufacturing processes and services to specialized partners to streamline production, ensure quality compliance, and enhance cost efficiency for diagnostic companies.
Sizing and Forecast
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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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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.
The diagnostic contract manufacturing market report table of contents includes:
1. Executive Summary
2. Diagnostic Contract Manufacturing Market Characteristics
3. Diagnostic Contract Manufacturing Market Trends And Strategies
4. Diagnostic Contract Manufacturing Market - Macro Economic Scenario
5. Global Diagnostic Contract Manufacturing Market Size and Growth
……….
33. Global Diagnostic Contract Manufacturing Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Diagnostic Contract Manufacturing Market
35. Diagnostic Contract Manufacturing Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Diagnostic Contract Manufacturing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Diagnostic Contract Manufacturing Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Diagnostic Contract Manufacturing Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
……….
Table 74: Thermo Fisher Scientific Inc. Financial Performance
Table 75: Abbott Laboratories Financial Performance
Table 76: Jabil Inc. Financial Performance
Table 77: Flex Ltd. Financial Performance
Table 78: Becton Dickinson and Company (BD) Financial Performance
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