The product design and development services market in Asia Pacific is expected to grow from US$ 3,946.34 million in 2022 to US$ 7,407.91 million by 2028. It is estimated to grow at a CAGR of 11.1% from 2022 to 2028.

High Demand for Quality Products in Healthcare due to Rising Health Concern
Among Geriatric Population
For example, GE Healthcare featured a new image-guided X-ray system that possesses functionality like a robot. New products and services assemble personal and big data, including genomics, preference, lifestyle information, and social determinant factors, that can create ground-breaking solutions. One such example of the solution is Livongo. Livongo is a chronic disease management platform that can be referred to as an “applied health signals” company using the Aggregate, Interpret (AI)+ Apply, and Iterate (AI) formula with functionality such as Aggregate, Interpret, Apply, and Iterate. Also, the platform delivers actionable, personalized, and timely recommendations that assist the user in managing chronic disease. Therefore, the growing health concerns among the population propel the demand for quality products in healthcare, which positively influences the growth of the product design and development services market.

Market Overview

APAC is the fastest-growing regional market for Product Design and Development Services; and China, India, Japan, South Korea, Australia, and the Rest of APAC are the major contributors to the market in this region. APAC is likely to account for over 41.37% market share of the global Product Design and Development Services market in 2021 owing to the rising geriatric population, increasing applications of diagnostic equipment, therapeutic equipment, and clinical laboratory equipment along with rising end-users such as pharmaceutical, medical device manufacturers, and research organizations. Therefore, the region holds huge potential for the Product Design and Development Services market players to grow during the forecast period. The Rest of APAC product design and development services market is segmented into Indonesia, Singapore, Malaysia, Taiwan, Thailand, and New Zealand. The market is witnessing significant growth in these countries due to the increasing demand for various medical products and the aging population. As per the UN 2017 World Population Ageing report, Singapore’s population accounted for 5.71 million, consisting of 855,000 people under the age of 15 and 886,000 people aged 65 and above. According to Statistics New Zealand, 2019, people aged 65 and older currently constitute 15% of New Zealand’s population, with over half (~53.4%) of the population being women. Moreover, Thailand currently has the third most rapidly aging population globally. Thailand has ~13 million people aged 60 and over, accounting for 20% of the total population. Furthermore, by 2050, Thailand’s aging population is expected to increase to 20 million, accounting for 35.8% of the population. This indicates that one will be a senior citizen out of every three Thais.

The rapidly evolving medical device industry in rest of APAC region is likely to favor growth for product design and development services market. For instance, Singapore’s healthcare industry has enormously evolved due to the highly skilled healthcare workforce, advanced healthcare infrastructure, and favorable government policy initiatives. Therefore, it is expected that these factors are likely to influence various medical devices and pharmaceutical product design and development. Moreover, countries such as Singapore and Thailand are developing their healthcare systems and are emerging as excellent destinations for medical tourism. Hence, the demand for product design and development services in these countries has increased. Thus, the product design and development services market is expected to offer vital growth opportunities during the forecast period.

Asia Pacific Product Design and Development Services Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Product Design and Development Services Market Segmentation

Asia Pacific 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 Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the market 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.

TABLE OF CONTENTS

1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 APAC Product Design and Development Services Market – By Services
1.3.2 APAC Product Design and Development Services Market – By Application
1.3.3 APAC Product Design and Development Services Market – By End User
1.3.4 APAC Product Design and Development Services Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Product Design and Development Services Market – Market Landscape
4.1 Overview
4.2 APAC PEST Analysis
4.3 Experts Opinion
5. APAC Product Design and Development Services Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Advancements in Technologies
5.1.2 High Demand for Quality Products in Healthcare due to Rising Health Concerns Among Geriatric Population
5.2 Market Restraints
5.2.1 Data Breach and Information Security Concerns
5.3 Market Opportunities
5.3.1 New Standards and Regulations Supportive Towards Innovative Product Design and Development
5.4 Future Trends
5.4.1 Utility of Portable Medical Devices
5.5 Impact Analysis
6. Product Design and Development Services Market– APAC Analysis
6.1 APAC Product Design and Development Services Market Revenue Forecast and Analysis
7. APAC Product Design and Development Market Revenue and Forecast to 2028 – by Services
7.1 Overview
7.2 APAC Product Design and Development Market Share, By Services 2022 & 2028 (%)
7.3 Research, Strategy and Concept Generation
7.3.1 Overview
7.3.2 Research, Strategy and Concept Generation: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
7.4 Concept and Requirements Development
7.4.1 Overview
7.4.2 Concept and Requirements Development: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
7.5 Detailed Design and Process Development
7.5.1 Overview
7.5.2 Detailed Design and Process Development: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
7.6 Design Verification
7.6.1 Overview
7.6.2 Design Verification: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
7.7 Process Validation, Manufacturing Transfer and Design Validation
7.7.1 Overview
7.7.2 Process Validation, Manufacturing Transfer and Design Validation: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
7.8 Other Services
7.8.1 Overview
7.8.2 Other Services: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
8. APAC Product Design and Development Market Revenue and Forecast to 2028 – by Application
8.1 Overview
8.2 APAC Product Design and Development Market Share, By Application 2022 & 2028 (%)
8.3 Diagnostic Equipment
8.3.1 Overview
8.3.2 Diagnostic Equipment: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
8.4 Therapeutic Equipment
8.4.1 Overview
8.4.2 Therapeutic Equipment: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
8.5 Surgical Instruments
8.5.1 Overview
8.5.2 Surgical Instruments: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
8.6 Clinical Laboratory Equipment’s
8.6.1 Overview
8.6.2 Clinical Laboratory Equipment’s: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
8.7 Biological Store
8.7.1 Overview
8.7.2 Biological Store: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
8.8 Consumables
8.8.1 Overview
8.8.2 Consumables: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
8.9 Others
8.9.1 Overview
8.9.2 Others: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
9. APAC Product Design and Development Market Revenue and Forecast to 2028 – by End User
9.1 Overview
9.2 APAC Product Design and Development Market Share, By Services 2022 & 2028 (%)
9.3 Medical Device Companies
9.3.1 Overview
9.3.2 Medical Device Companies: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
9.4 Pharmaceutical Companies
9.4.1 Overview
9.4.2 Pharmaceutical Companies: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
9.5 Biotechnology Companies
9.5.1 Overview
9.5.2 Biotechnology Companies: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
9.6 Contract Research Companies
9.6.1 Overview
9.6.2 Contract Research Companies: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
10. APAC Product Design and Development Services Market Revenue and Forecasts to 2028 – Country Analysis
10.1 Overview
10.1.1 APAC: Product Design and Development Services Market Revenue, By Country, 2022 and 2028 (%)
10.1.1.1 Japan: Product Design and Development Services Market Revenue and Forecasts to 2028 (US$ Million)
10.1.1.1.1 Overview
10.1.1.1.2 Japan: Product Design and Development Services Market Revenue and Forecasts to 2028 (US$ Million)
10.1.1.1.3 Japan: Product Design and Development Services Market Revenue and Forecasts to 2028, By Services (US$ Million)
10.1.1.1.4 Japan: Product Design and Development Services Market Revenue and Forecasts to 2028, By Application (US$ Million)
10.1.1.1.5 Japan: Product Design and Development Services Market, by End User – Revenue and Forecast to 2028 (US$ Million)
10.1.1.2 China: Product Design and Development Services Market Revenue and Forecasts to 2028 (US$ Million)
10.1.1.2.1 Overview
10.1.1.2.2 China: Product Design and Development Services Market Revenue and Forecasts to 2028 (US$ Million)
10.1.1.2.3 China: Product Design and Development Services Market Revenue and Forecasts to 2028, By Services (US$ Million)
10.1.1.2.4 China: Product Design and Development Services Market Revenue and Forecasts to 2028, By Application (US$ Million)
10.1.1.2.5 China: Product Design and Development Services Market, by End User – Revenue and Forecast to 2028 (US$ Million)
10.1.1.3 India Product Design and Development Services Market Revenue and Forecasts to 2028 (US$ Million)
10.1.1.3.1 Overview
10.1.1.3.2 India: Product Design and Development Services Market Revenue and Forecasts to 2028 (US$ Million)
10.1.1.3.3 India: Product Design and Development Services Market Revenue and Forecasts to 2028, By Services (US$ Million)
10.1.1.3.4 India: Product Design and Development Services Market Revenue and Forecasts to 2028, By Application (US$ Million)
10.1.1.3.5 India: Product Design and Development Services Market, by End User – Revenue and Forecast to 2028 (US$ Million)
10.1.1.4 South Korea: Product Design and Development Services Market Revenue and Forecasts to 2028 (US$ Million)
10.1.1.4.1 Overview
10.1.1.4.2 South Korea: Product Design and Development Services Market Revenue and Forecasts to 2028 (US$ Million)
10.1.1.4.3 South Korea: Product Design and Development Services Market Revenue and Forecasts to 2028, By Services (US$ Million)
10.1.1.4.4 South Korea: Product Design and Development Services Market Revenue and Forecasts to 2028, By Application (US$ Million)
10.1.1.4.5 South Korea: Product Design and Development Services Market, by End User – Revenue and Forecast to 2028 (US$ Million)
10.1.1.5 Australia: Product Design and Development Services Market Revenue and Forecasts to 2028 (US$ Million)
10.1.1.5.1 Overview
10.1.1.5.2 Australia: Product Design and Development Services Market Revenue and Forecasts to 2028 (US$ Million)
10.1.1.5.3 Australia: Product Design and Development Services Market Revenue and Forecasts to 2028, By Services (US$ Million)
10.1.1.5.4 Australia: Product Design and Development Services Market Revenue and Forecasts to 2028, By Application (US$ Million)
10.1.1.5.5 Australia: Product Design and Development Services Market, by End User – Revenue and Forecast to 2028 (US$ Million)
10.1.1.6 Rest of APAC: Product Design and Development Services Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.6.1 Overview
10.1.1.6.2 Rest of APAC: Product Design and Development Services Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.6.3 Rest of APAC: Product Design and Development Services Market Revenue and Forecasts to 2028, By Services (US$ Million)
10.1.1.6.4 Rest of APAC: Product Design and Development Services Market Revenue and Forecasts to 2028, By Application (US$ Million)
10.1.1.6.5 Rest of APAC: Product Design and Development Services Market, by End User – Revenue and Forecast to 2028 (US$ Million)
11. Product Design and Development Services Market–Industry Landscape
11.1 Overview
11.2 Growth Strategies Done by the Companies in the Market (%)
11.3 Organic Developments
11.3.1 Overview
11.4 Inorganic Developments
11.4.1 Overview
12. Company Profiles
12.1 Ximedica
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 DeviceLab Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Jabil Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 FLEX LTD.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Plexus Corp.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Celestica Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 StarFish Product Engineering Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 NORDSON CORPORATION
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Planet Innovation
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Sterling Medical Devices
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms

LIST OF TABLES

Table 1.             Japan: Product Design and Development Services Market Revenue and Forecasts to 2028, By Services (US$ Million)
Table 2.             Japan: Product Design and Development Services Market Revenue and Forecasts to 2028, By Application (US$ Million)
Table 3.             Japan: Product Design and Development Services Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 4.             China: Product Design and Development Services Market Revenue and Forecasts to 2028, By Services (US$ Million)
Table 5.             China: Product Design and Development Services Market Revenue and Forecasts to 2028, By Application (US$ Million)
Table 6.             China: Product Design and Development Services Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 7.             India: Product Design and Development Services Market Revenue and Forecasts to 2028, By Services (US$ Million)
Table 8.             India: Product Design and Development Services Market Revenue and Forecasts to 2028, By Application (US$ Million)
Table 9.             India: Product Design and Development Services Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 10.          South Korea: Product Design and Development Services Market Revenue and Forecasts to 2028, By Services (US$ Million)
Table 11.          South Korea: Product Design and Development Services Market Revenue and Forecasts to 2028, By Application (US$ Million)
Table 12.          South Korea: Product Design and Development Services Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 13.          Australia: Product Design and Development Services Market Revenue and Forecasts to 2028, By Services (US$ Million)
Table 14.          Australia: Product Design and Development Services Market Revenue and Forecasts to 2028, By Application (US$ Million)
Table 15.          Australia: Product Design and Development Services Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 16.          Rest of APAC: Product Design and Development Services Market Revenue and Forecasts to 2028, By Services (US$ Million)
Table 17.          Rest of APAC: Product Design and Development Services Market Revenue and Forecasts to 2028, By Application (US$ Million)
Table 18.          Rest of APAC: Product Design and Development Services Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 19.          Organic Developments Done By Companies
Table 20.          Inorganic Developments Done By Companies
Table 21.          Glossary of Terms
 
 

LIST OF FIGURES

Figure 1.           APAC Product Design and Development Services Market Segmentation
Figure 2.           APAC Product Design and Development Services Market, By Country
Figure 3.           APAC Product Design and Development Services Market Overview
Figure 4.           Service Segment Held Largest Share of Type Segment in APAC Product Design and Development Services Market
Figure 5.           UK is Expected to Show Remarkable Growth During the Forecast Period
Figure 6.           APAC: PEST Analysis
Figure 7.           Experts Opinion
Figure 8.           Impact Analysis of Drivers and Restraints Pertaining to APAC Product Design and Development Services Market
Figure 9.           APAC: Product Design and Development Services Market Revenue and Forecasts to 2028 (US$ Million)
Figure 10.        APAC Product Design and Development Market Share, By Services 2022 & 2028 (%)
Figure 11.        APAC Research, Strategy and Concept Generation: Product Design and Development Market Revenue and Forecast To 2028  (US$ Million)
Figure 12.        APAC Concept and Requirements Development: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
Figure 13.        APAC Detailed Design and Process Development: Product Design and Development Market Revenue and Forecast To 2028  (US$ Million)
Figure 14.        APAC Design Verification: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
Figure 15.        APAC Process Validation, Manufacturing Transfer and Design Validation: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
Figure 16.        APAC Other Services: Product Design and Development Services Market Revenue and Forecast To 2028 (US$ Million)
Figure 17.        APAC Product Design and Development Market Share, By Application 2022 & 2028 (%)
Figure 18.        APAC Diagnostic Equipment: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
Figure 19.        APAC Therapeutic Equipment: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
Figure 20.        APAC Surgical Instruments: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
Figure 21.        APAC Clinical Laboratory Equipments: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
Figure 22.        APAC Biological Store: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
Figure 23.        APAC Consumables: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
Figure 24.        APAC Others: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
Figure 25.        APAC Product Design and Development Market Share, By Services 2022 & 2028 (%)
Figure 26.        APAC Medical Device Companies: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
Figure 27.        APAC Pharmaceutical Companies: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
Figure 28.        APAC Biotechnology Companies: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
Figure 29.        APAC Contract Research Companies: Product Design and Development Market Revenue and Forecast To 2028 (US$ Million)
Figure 30.        APAC Product Design and Development Services Market Overview, by Country (2022)
Figure 31.        APAC: Product Design and Development Services Market Revenue, By Country, 2022 and 2028 (%)
Figure 32.        Japan: Product Design and Development Services Market Revenue and Forecasts to 2028 (US$ Million)
Figure 33.        China: Product Design and Development Services Market Revenue and Forecasts to 2028 (US$ Million)
Figure 34.        India: Product Design and Development Services Market Revenue and Forecasts to 2028 (US$ Million)
Figure 35.        South Korea: Product Design and Development Services Market Revenue and Forecasts to 2028 (US$ Million)
Figure 36.        Australia: Product Design and Development Services Market Revenue and Forecasts to 2028 (US$ Million)
Figure 37.        Rest of APAC: Product Design and Development Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 38.          Growth Strategies Done by the Companies in the Market (%)

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific product design and development services market
● Highlights key business priorities in order to assist companies to realign their business strategies
● The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific product design and development services market, thereby allowing players across the value chain to develop effective long-term strategies
● Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
● Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the product design and development services market, as well as those hindering it
● Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

The List of Companies – Asia Pacific Product Design and Development Services Market

● Celestica Inc.
● DeviceLab Inc.
● FLEX LTD.
● Jabil, Inc.
● NORDSON CORPORATION
● Planet Innovation
● Plexus Corp.
● Starfish Product Engineering Inc.
● Sterling Medical Devices
● Ximedica

At 11.1% CAGR, the Asia Pacific Product Design and Development Services Market is speculated to be worth US$ 7,407.91 Million by 2028, says The Insight Partners

According to The Insight Partners’ research, the Asia Pacific product design and development services market was valued at US$ 3,946.34 million in 2022 and is expected to reach US$ 7,407.91 million by 2028, registering an annual growth rate of 11.1% from 2022 to 2028. Utility of Portable Medical Devices is the critical factor attributed to the market expansion.

Advancements in technology have resulted in portable critical care devices, and the trend continues to grow owing to the performance of the batteries that power them. The expanding range of portable devices consists of diverse products from hand-carried cardiac ultrasound units to portable ventilators. Designers of portable medical devices consider the capability of existing battery technology while creating a new product. Also, the power supply is crucial in designing portable medical devices, particularly when the device performs critical care functions with constantly improving battery technology. Therefore, portable medical devices are expected to become a crucial trend in the product design and development services market in the coming years.

On the contrary, various concerns related to data breach and information security hurdles the growth of Asia Pacific product design and development services market.

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 with a share of to 38.0%. It accrued US$ 1,497.73 million in 2022 and is estimated to generate US$ 2,854.51 million by 2028 to grow at a CAGR of 11.3% over the forecast period.

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 held 27.1% market share in 2022, amassing US$ 1,069.97 million. It is projected to garner US$ 2,007.84 million by 2028 to expand at 11.1% CAGR during 2022–2028.

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). With 55.2% share of the domain, the medical companies segment dominated the market in 2022. It accrued US$ 2,177.87 million in 2022 and is estimated to generate US$ 4,090.33 million by 2028 to grow at a CAGR of 11.1% over the forecast period.

Our regional analysis states that China captured 55.3% market share in 2022. It was assessed at US$ 2,182.72 million in 2022 and is likely to hit US$ 4,168.43 million by 2028, exhibiting a CAGR of 11.4% during the forecast period.

Key players dominating the Asia Pacific product design and development services market are Celestica Inc.; DeviceLab Inc.; FLEX LTD.; Jabil, Inc.; NORDSON CORPORATION; Planet Innovation; Plexus Corp.; Starfish Product Engineering Inc.; Sterling Medical Devices; and Ximedica among others.

A few key market developments from top market players are as follows:

In July 2020, Jabil Launches Jabil Healthcare, the Largest Healthcare Manufacturing Solutions Provider. Jabil combines Nypro with its Orthopedics, Spine, Trauma, and associated medical instruments businesses to deliver unmatched depth and breadth of advanced manufacturing solutions and innovative technical capabilities. In Sep 2021, BioSig Technologies, Inc. announced partnership with Plexus Corp. intended for biomedical signaling processing platform designed to improve signal fidelity and uncover the full range of ECG and intra-cardiac signals.