The global medical device contract manufacturing market is estimated to reach USD 113.3 billion in 2026 from USD 65.9 billion in 2021, at a CAGR of 11.5% during the forecast period. IVD segment is expected to witness the fastest growth in the forecast period. Based on device type, the medical device contract manufacturing market is broadly segmented into IVD devices, diagnostic imaging devices, cardiovascular devices, drug delivery devices, orthopedic devices, respiratory care devices, ophthalmology devices, surgical devices, diabetes care devices, dental devices, endoscopy devices, gynecology/urology devices, personal care devices, neurology devices, and other devices. IVD devices segment is expected to witness the fastest growth during the forecast period. The growth of this segment can be attributed to the increasing volume of IVD tests performed globally, the COVID-19 pandemic, the increasing availability of IVD kits and reagents, the growing number of hospitals & clinical laboratories in developing countries, automation & technological advancements in instruments with high-throughput capabilities, and advances in life sciences research. Class II segment is expected to witness the fastest growth in the forecast period. Based on the class of device, the medical device contract manufacturing market is segmented into Class I, Class II, and Class III medical devices. In 2020, the Class II medical devices segment is projected to grow at the highest CAGR in the medical device contract manufacturing market. The growth of this segment can be attributed to the large number of medical devices that fall under this device class and their greater utilization (compared to other classes) by end users and caregivers in the healthcare industry. In addition, due to the outbreak of COVID-19, governments minimized the regulatory compliance on these devices and issued Emergency Use Authorizations (EUA) for diagnostics and PPE kits, thereby boosting the market growth. Device development click here and manufacturing services segment accounted for the largest share of medical device contract manufacturing market in 2020 Based on service, the medical device contract manufacturing market is segmented into device development and manufacturing services, quality management services, packaging and assembly services, and other services. The device development and manufacturing services segment dominated this market. The increasing adoption of contract manufacturing services in the medical device industry, growth in the medical devices market (especially in the single-use disposable medical devices market), and improving device development and manufacturing capabilities are the major factors responsible for the large share of this segment. Asia Pacific accounted for the largest share of the medical device contract manufacturing market in 2020. Geographically, the medical device contract manufacturing market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2020, the Asia Pacific accounted for the largest market share of the medical device contract manufacturing market. The dominant share of the APAC region is mainly attributed to the lower cost of raw materials & labor compared to the developed countries, the increasing demand for medical devices due to improving healthcare infrastructure, the adoption of technologically advanced products, and the presence of a less stringent regulatory than most developed countries. Technological Advancements in Medical Device Modalities Impact of Industry 4.0 on the Medical Device Industry Consolidation in the Medical Devices Markethttps://www.businesswire.com/news/home/20210729005759/en/Medical-Device-Contract-Manufacturing-Market-by-Device-Type-Class-of-Device-Services-and-Region---Global-Forecast-to-2026---ResearchAndMarkets.com
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Select your default regional edition of MiningWeekly.com Note: When you select a default region you will be directed to the MiningWeekly.com home page of your choice whenever you visit miningweekly.com. This setting is controlled by cookies and should your cookies be re-set you will then be directed to the regional edition associated with the geographic location of look here our IP address. Should your cookies be reset then you may again use the drop-down menu to select a default region. Note: Search is limited to the most recent 250 articles. To access earlier articles, click Advanced Search and set an earlier date range. To search for a term containing the '&' symbol, click Advanced Search and use the 'search headings' and/or 'in first paragraph' options. go back to login or contact us at firstname.lastname@example.org Please enter the email address that you used to subscribe on Mining Weekly. Your password will be sent to this address. separate emails by commas, maximum limit of 4 addresses ARTICLE ENQUIRY SAVE THIS ARTICLE EMAIL THIS ARTICLE Vancouver-based PureGold has reached commercial production at its namesake mine in Ontario, marking an “exciting” growth phase for the company, reports CEO Darin Labrenz. “By combining stable gold production with the high-grade exploration potential that makes the PureGold mine so unique, we are making significant progress toward our goal of unlocking the full potential of the PureGold mine and becoming Canada's next iconic gold producer,” he says. The PureGold mine, milling facilities and other critical systems are all operating in line with, or rapidly approaching, design capacity of 800 t/d of ore on a sustainable basis. Construction of the mine started in 2019 and first gold was poured in December 2020. The Phase 1 mine is expected to produce more than one-million ounces of high-grade gold over a 12-year mine life. With the cash flow generated from gold production, PureGold will pursue a phased organic growth strategy and continue expansion along a 7-km-long gold corridor. Phase 2 is already under way and so is planning for Phase 3, which will incorporate existing and newly-discovered mineral resources that lie outside the Phase 1 footprint into an expanded mine plan.https://www.miningweekly.com/article/puregold-hits-commercial-production-2021-08-03