North America Product Design and Development Services Market

The product design and development services market in North America is expected to grow from US$ 2,477.73 million in 2022 to US$ 4,564.15 million by 2028. It is estimated to grow at a CAGR of 10.7% from 2022 to 2028.

Rising Technological Advancements

Adoption of technologies plays a crucial role in business competitiveness. The use of technologies in healthcare allows professionals to diagnose, collect data, and treat medical conditions accurately and less invasively, improving the health of people. Imaging and diagnostic machines are bulky stationary devices requiring patients to visit a particular room in a hospital or physician's office. Considerable technological developments have been noticed in imaging and diagnostic equipment in the past decade. A new generation of compact devices can be used anywhere for patients. With costs dropping of imaging and diagnostic equipment dramatically and making devices accessible to smaller medical practices and clinics owing to the technological influx in diagnostic devices.

The technological advent has resulted in innovative features. For instance, AI-based medical devices can automate tasks, synthesize data from multiple sources, pinpoint trends, process and analyze information from wearable sensors, identify disease or the onset of medical conditions, identify risk for infection associated with complications. Also, computed tomography (CT) machines evolving from a 16-slice scanner to a 256-slice scanner can measure changes in blood flow and detect the smallest blockages in blood vessels. Therefore, improvements in every aspect of technology increase efficiency, functionality, and reliability. Such aforementioned factors stimulate the overall growth of the product design and development services market.  

Market Overview

The North America product design and development services market is categorized into the US, Canada, and Mexico. North America is likely to capture a significant share of the global market in 2022. The market growth in North America is attributed to the extended presence of contract manufacturing organizations (CMOs) responsible for offering product design and development services. Further, the key market players across the region are expanding their reach of services through mergers and acquisitions. Moreover, the robust increase in the manufacturing of medical devices to meet the rising demand for efficient healthcare is expected to aid the growth of the North American product design and development services market during the forecast period.

North America Product Design and Development Services Market Revenue and Forecast to 2028 (US$ Million)

North America Product Design and Development Services Strategic Insights

Strategic insights for the North America Product Design and Development Services provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Product Design and Development Services Report Scope

North America Product Design and Development Services Regional Insights

The geographic scope of the North America Product Design and Development Services refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

North America Product Design and Development Services Market Segmentation   

North America product design and development services market is segmented into services, application, end user, and country.  

• Based on services, the product design and development services market is segmented into research, strategy, and concept generation; concept and requirements developments; detailed design and process development; design verification; process validation, manufacturing transfer, and design validation; and other services. Research, strategy, and concept generation segment accounted for the largest market share.
• Based on application, the product design and development market is segmented into diagnostic equipment, therapeutic equipment, surgical instruments, clinical laboratory equipment, biological storage, consumables, and others. The surgical instruments segment is likely to dominate the market in 2022.
• Based on the end user, the product design and development services market has been categorized into medical companies, pharmaceutical companies, biotechnology companies, and contract research organizations (CROs). The medical companies held the largest market share in 2022.
• Based on country, the market is segmented into the US, Canada, and Mexico. The US dominated the market share in 2022.

Celestica Inc.; DeviceLab Inc.; FLEX LTD.; Jabil, Inc.; NORDSON CORPORATION; Planet Innovation; Plexus Corp.; Starfish Product Engineering Inc.; Sterling Medical Devices; and Ximedica are the leading companies operating in the product design and development services market in the region.