Medical device CDMO market to hit $354B by 2033, driven by outsourcing and advanced tech demand

The global medical device contract development and manufacturing organization (CDMO) market is projected to grow from $134.65 billion in 2025 to $354.6 billion by 2033, at a CAGR of 13.12%. Growth is fueled by OEMs outsourcing to manage regulatory challenges, reduce costs, and access specialized expertise, especially for advanced, connected, and home-care devices. The shift towards minimally invasive treatments and home-use devices also boosts demand. This trend accelerates time-to-market and cost efficiency, with key players like Jabil and Thermo Fisher leading the space.