Medical Device Testing Services Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2015 to 2020 and Forecast 2021 to 2027

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Global Medical Device Testing Services Market By services (Inspection Services, Testing Services, Certification Services, Others), By technology (In-vitro Diagnostics, Ophthalmic Devices, Active Implantable Devices, Non-Active Medical Devices, Vascular Medical) and By Region

 

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Report

Description

The global medical device testing services market size is expected to reach USD 12.4 billion by 2027 from USD 9.01 billion in 2020 at a CAGR of 6.2%. In the field of drug-device combinations, customised medicine, and the introduction of portable and wearable medical devices, the medical device testing services market is undergoing a series of changes. Medical devices are extremely important since they have a direct impact on the lives of patients. Medical device makers test medical devices before releasing them to the market in order to provide high-quality and safe experiences for patients. This has increased the demand for medical device validation and verification. As a result, it is necessary for manufacturers to adequately define and test medical devices in order to ensure their quality. The overall expansion of the market is expected to be aided by several sets of test requirements, component selection, and final assembly of a medical device. Furthermore, as global organisations invest in automation, the demand for automated quality assurance has increased. The COVID-19 epidemic has increased demand even further, as human intervention has been reduced in the process. To comply with the tight regulatory criteria, medical device manufacturers prefer to conduct in-house testing or outsource testing services to contract research organisations (CROs). Medical device standard rules differ per country, and it is required for all manufacturers to meet these guidelines when marketing or selling their goods in that country. From the simple dressings to sophisticated lifesaving equipment medical devices play a crucial role in disease prevention, diagnosis, management and treatment. Before it enters the market medical device testing helps to develop and validate the safety and effectiveness of the market. Furthermore, many of medical device testing service providers also perform market testing, distribution testing and validation of supply chain.


Medical Device Testing Services Market

MARKET SUMMARY
-
6.2%
  • Study Period– 2021 – 2027
  • Base Year– 2020
  • CAGR– 6.2%
  • Largest Market– North America
  • Fastest Growing Market– Asia Pacific

Medical Device Testing Services Market

  • The report on global medical device testing services market gives historical, current, and future market sizes (US$ Bn) on the by services, by technology, by end user and geography.
  • medical device testing services market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Market Key Players
  • SGS SA (Switzerland)
  • Toxikon Corporation (U.S.)
  • Eurofins Scientific (Luxembourg)
  • Intertek Group plc (U.K.)
  • WuXi AppTec (China)
  • Charles River Laboratories, Inc. (U.S.)
  • Innovatus Imaging Corporation (U.S.)
Drivers And Restraints

Medical Device Testing Services Market

Medical device testing market is mainly driven by the emergence of advancements in drug device combination, personalized medicine, and increase in adaptation of the portable and wearable medical devices for real-time monitoring of patient. In addition, advanced technologies such as medical robots, ophthalmic surgical devices and minimally invasive devices rapidly increased the adaptation of medical devices in patients. Furthermore, regional and local medical companies are expanding their markets internationally. To avoid the failures companies adopting the medical device testing services for market testing and supply chain validation. Furthermore, increased regulatory focus on safety and quality control of medical devices projected to bolster the medical device testing market over the forecast period. However, the cost of the services and the effect on device prices are expected to hamper the market growth over the forecast period.


North-America got significant share

Medical Device Testing Services Market

Geographically, global market is segmented into North America, Europe, Middle East and Africa, Asia Pacific and Latin America. North America medical device testing services market is expected to grow at significant rates owing to the strengthening of regulatory requirements for safety and quality of medical devices. In addition, growing demand for the minimally invasive technologies coupled with presence of the key medical device manufacturers and testing service providers in the region. Asia Pacific medical device testing services market expected to have lucrative growth over forecast period owing to improving healthcare infrastructure, adaptation of the non-invasive techniques for the treatment of various disease. Furthermore, economic improvement and growing population in countries like China and India projected to contribute more tothe Asia Pacific medical device testing services market. Europe medical device testing services market expected to have notable growth rates owing to the technological advancements in the medical devices and presence of key medical device manufacturers.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Notable Market Developments

  • In September 2017, Innovatus Imaging Corporation, a newly formed holding company by Resilience Capital Partners and other co-investors has acquired three medical device service companies, Multi Vendor Service (MVS), Wetsco and MD MedTech, LLC to expand their service offerings.

Key

Key Features of the Report

Medical Device Testing Services Market segmentation


Location

GEOGRAPHY


Report

Table Of Content

Description

The global medical device testing services market size is expected to reach USD 12.4 billion by 2027 from USD 9.01 billion in 2020 at a CAGR of 6.2%. In the field of drug-device combinations, customised medicine, and the introduction of portable and wearable medical devices, the medical device testing services market is undergoing a series of changes. Medical devices are extremely important since they have a direct impact on the lives of patients. Medical device makers test medical devices before releasing them to the market in order to provide high-quality and safe experiences for patients. This has increased the demand for medical device validation and verification. As a result, it is necessary for manufacturers to adequately define and test medical devices in order to ensure their quality. The overall expansion of the market is expected to be aided by several sets of test requirements, component selection, and final assembly of a medical device. Furthermore, as global organisations invest in automation, the demand for automated quality assurance has increased. The COVID-19 epidemic has increased demand even further, as human intervention has been reduced in the process. To comply with the tight regulatory criteria, medical device manufacturers prefer to conduct in-house testing or outsource testing services to contract research organisations (CROs). Medical device standard rules differ per country, and it is required for all manufacturers to meet these guidelines when marketing or selling their goods in that country. From the simple dressings to sophisticated lifesaving equipment medical devices play a crucial role in disease prevention, diagnosis, management and treatment. Before it enters the market medical device testing helps to develop and validate the safety and effectiveness of the market. Furthermore, many of medical device testing service providers also perform market testing, distribution testing and validation of supply chain.

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