Outsourcing market to value $41bn

Device outsourcing set to rise exponentially between now and 2018.

The value of the outsourcing market for medical devices is expected to reach $41 billion worldwide by the end of 2018, with a number of factors driving an exponential increase.

This is according to a research paper published by Transparency Market Research, which claims that continuous technological developments, an improved quality of healthcare and a reduction in cost for the market will continue to play a big role in the expansion of the industry.

The entry of new players in the marketplace will also have a large impact, with more pharmaceutical companies than ever looking to increase their dependence on outsourcing for medical devices.

Claims from the research are backed up by a separate survey from Cutting Edge Information, which this week reported a rise in the number of companies looking to introduce outsourcing into their regulatory affairs budgets.
The report was keen to emphasise that, while more firms are considering outsourcing as a feasible option due to an increase in trust, the actual percentage of work they're willing to give up remains somewhat low at somewhere between ten and 20 per cent.