Product Design And Development Services Market: Process Validation And Manufacturing Transfer Segment Is Expected To Witness The Fastest Growth Rate Of 13.7%
Product Design And Development Services Industry Overview The global product design and development services market is expected to reach USD 24,092.2 million by 2030, registering a CAGR of 12.5%, according to a new report by Grand View Research, Inc. The major drivers of this market are increasing demand for advanced technology, decreasing product costs, and decreasing time to design and manufacture a product. Life science and medical device companies face great pressure for cost and to develop innovative products in a short time frame as they have to comply with stringent regulatory requirements for medical devices. The manufacturers face more hurdles in getting cost-effective high-quality products to market faster along with some internal factors, such as design and production. Hence, medical device companies adopt a design-to-manufacturing approach where design, engineering, as well as production teams work in collaboration to develop the product model. This...