With the expected increase in the number of patients for certain disorders along with the persistence of the pandemic, the global medical device outsourcing market is predicted to grow at a value of $83.95 billion by 2023 at a compound annual growth rate (CAGR) of 9.5% from 2017 to 2023. International medical device establishments usually opt to have their devices manufactured in Asia-Pacific countries such as India, Vietnam, and Indonesia due to less labor costs and overhead expenses while still being capable of generating quality end products.
