The 2023 global medtech outsourcing market grew more than 11% to $81.5B, demonstrating strong market resilience
FRAMINGHAM, Mass., Feb. 26, 2024, a global life sciences advisory and clinical research firm, announced the release of the 2024 Global Medtech Contract Manufacturing Report. This report offers a comprehensive analysis of trends in the global medtech contract manufacturing (CDMO) market and includes a deep dive into the contract manufacturing landscape in France, Germany, Italy, Ireland, Switzerland, the UK, and the Nordic countries.
Key report highlights:
- The European and US outsourcing markets combined represent over half of the global CDMO industry. Europe is home to many smaller, localized players that offer world-renowned specialization across fragmented operations.
- US-headquartered CDMOs generate nearly half of the total revenue of Europe's medtech CDMO market.
- In 2023, a near-record number of deals took place globally surrounding medtech CDMOs. Over half of these deals occurred across international borders between US, Asian, and European players, demonstrating increasing interest in geographic expansion.
- The end markets attracting the most deals are also the fastest growing medtech verticals, signaling that investors expect orthopedics, cardiovascular, and surgical segments to continue flourishing in the future.
This report expands Alira Health's annual coverage of the US CDMO market to provide a deep dive into the Western European CDMO landscape. It was developed in partnership with MassMEDIC, the Massachusetts Medical Device Industry Council, which is the largest regional medtech association in the US and Alira Health's medtech community partner.
"Medtech outsourcing continues its decade-long trend of rapid consolidation, spurred by capital investment. Overall, this consolidation has been a net positive for an industry that is now characterized by robust long-term growth potential and high value-add capabilities for medtech manufacturers," said Carlo Stimamiglio, Partner, Transaction Advisory Practice at Alira Health. "Our industry report provides detailed insights into these trends and offers essential guidance for strategic and M&A decisions."
The 2024 Global Medtech Contract Manufacturing Report is now available for download.
For media inquiries, interviews, or additional information, please contact John McLaughlin at John.McLaughlin@AliraHealth.com.
About Alira Health
Alira Health is a global advisory and clinical research firm whose mission is to humanize healthcare and life sciences, in partnership with patients, through innovative technologies and expert guidance. From development to medical care, Alira Health complements the expertise of its pharma, biotech, and medtech clients with a full spectrum of services across their entire solutions lifecycle. Learn more at AliraHealth.com.
Contact:
John McLaughlin
john.mclaughlin@alirahealth.com
