Medical Device Contract Manufacturing Market Estimated to Expand at a Robust CAGR of 10.9% from 2018 to 2026
Over the past few years, the pharmaceutical and medical device industry has seen a significant reduction in new product development and approvals due to the global financial crisis. To remedy this situation, the use of business process outsourcing services has proven to be an effective way of minimizing operational, management, and infrastructure costs. The global medical device contract manufacturing market was valued at US$ 47.5 Bn in 2017.
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