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Medical Device Testing Market is expected to reach USD 12.1 Bn by 2025
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Medical Device Testing Market: By Service Type (Testing Service, Certification Service, and Testing Service), By Sourcing Type (Outsourced, and In-House), By Technology (Active Medical Device, Vascular Medical Device, Non-Active Medical Device, Orthopedic Medical Device, In-Vitro Diagnostic Medical Device, and Others) , and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025)
The medical device testing market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating in the global market. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region wise and segment-wise market share/growth analysis. The study of the report will outlook one of the most exhaustive analysis of the market, capturing all the aspects of the medical device testing market.
Global Medical Device Testing Market Research Report, 2018-2025 (USD Billion)
Medical Device Testing Industry Introduction
Medical device testing is the process of quality checks of medical devices, in which both hardware and software linked with the medical device is checked under medical device testing. The process includes R&D testing, factory testing, and certificate testing of medical devices. Testing comprises validation and verification of medical devices for its safe handling at the later stage. While the promotion of standards and control of medical devices are necessary, stringent laws, especially to the domestic context, can act as a barrier to local innovation of medical devices in the upcoming years.
Medical Device Testing Market Dynamics
The global medical device testing market is primarily driven by the rising trend of outsourcing medical device testing, the growing need for verification and validation of medical devices, and the enforcement of government laws for medical devices. The global medical device testing market is observing numerous development with the high adoption of advanced technologies, such as the IoT and AI in various medical devices is the opportunity that will boost the growth of the market over the forecast period. Moreover, in the era of globalization, where countries depend on one another and engage in mutual trading and exchange of services and goods, the import and export of products are impacted by the time-consuming process of overseas qualification tests is the major challenge for the medical device testing market.
Moreover, the outbreak of the COVID-19 pandemic has positively impacted the global medical device testing sector. The demand for medical device testing is always on the rise as this testing plays an important role in eliminating unsafe medical devices and protecting consumers from poor quality. The pandemic has raised the demand for the medical device testing industry. For illustration, the outbreak of the coronavirus pandemic has led to the raised demand for hygienic masks and started remote inspection of medical devices to maintain continuity of health and safety compliance and avoid any physical contact.
Medical Device Testing Market: Scope of the Report
The report outlines the study of the medical device testing market on the basis of service type, sourcing type, and technology.
Based on the service type, the medical device testing market is segmented into-
- Testing Service
- Certification Service
- Testing Service
Based on sourcing type, the medical device testing market is segmented into-
Based on technology, the medical device testing market is segmented into-
- Active Medical Device
- Vascular Medical Device
- Non-Active Medical Device
- Orthopedic Medical Device
- In-Vitro Diagnostic Medical Device
- Others (Ophthalmic Medical Device and Dental Medical Device)
Medical Device Testing Market by Sourcing Type, 2018-2025 (USD Million)
Source: Market Statsville 2020
Medical Device Testing Market: Regional Outlook
The global medical device testing market is geographically segmented into North America, Asia Pacific, Europe, South America, and Middle East & Africa (MEA). The Asia Pacific is predicted to dominate the global medical device testing market and is anticipated to maintain continuity of its dominance over the forecast period. This growth is attributed to the growing awareness regarding the importance of certification of medical testing devices, increasing need for long-term therapy by patients, and huge investment by contract research organizations, owing to easy availability and lower cost of skilled labor. Moreover, Europe contributes a considerable share in the global medical device testing market, backed by the presence of some of the key market players, such as Eurofins Scientific and SGS SA.
Medical Device Testing Market Growth by Region, 2020-2025
Source: MSG Analysis, 2020
North America is expected to project the highest CAGR in the medical device testing market over the forecast period. This is due to the increasing efforts towards cost-cutting, strict government laws to maintain quality and safety standards in the healthcare sector, and growing complexity in product designing. Furthermore, the Middle East and Africa, and South America will contribute a modest share in the global medical device testing market in 2019. The rising healthcare expenditure in UAE and Saudi Arabia will offer growth to the market over the forecast period.
Medical Device Testing Market: Competitive Landscape
The leading manufacturers of medical device testing in the global market include Intertek Group plc, SGS SA, BSI Group, Eurofins Scientific, and Toxikon, Inc.
Other medical device testing manufacturers include North America Science Association, Inc., American Preclinical Services LLC, Sterigenics International LLC, Pace Analytical Services, Charles River Laboratories International, Inc., Wuxi AppTech Group, Element Materials Technology, Dekra, ASTM, and BDC Laboratories.
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