Medical Device Testing Market Size, Share, Segmentation, Trends, Growth Opportunities, and Forecast 2030

Medical Device Testing Market

Medical Device Testing Market - By Device Class (Class I, Class II, and Class III), By Technology (Active Implant Medical Device, Active Medical Device, Non-Active Medical Device, In-Vitro Diagnostic Medical Device, Ophthalmic Medical Device, Orthopedic and Dental Medical Device, and Vascular Medical Device), And By Region- Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026

Published Date: 11-May-2021 Category: Healthcare Report Format : PDF Pages: 150 Report Code: ZMR-6237 Status : Published

The global Medical Device Testing market accrued earnings worth approximately 9.1 (USD Billion) in 2019 and is predicted to gain revenue of about 11.2(USD Billion) by 2026, is set to record a CAGR of nearly 4.6% over the period from 2020 to 2026.

The global Medical Device Testing market accrued earnings worth approximately 9.1 (USD Billion) in 2019 and is predicted to gain revenue of about 11.2(USD Billion) by 2026, is set to record a CAGR of nearly 4.6% over the period from 2020 to 2026. The report offers assessment and analysis of the Medical Device Testing market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).

Introduction

Breakthroughs in production of new testing methods for sterilizing and determining cytotoxicity is likely to present new growth opportunities for medical device testing industry in the foreseeable future. Each medical equipment is assigned a protocol of testing requirements that are imposed by regulatory authorities including the U.S. FDA as well as Chinese FDA to check the efficiency as well as determine the defects in medical equipment. Rise in then COVID cases across the globe has led to increase in the testing of medical devices and this will enlarge the scope of the medical device testing industry over the forecast period. Massive outsourcing of medical equipment is set to steer the expansion of medical device testing business over the forthcoming years.

Medical Device Testing Market Growth Drivers

The onset of AI & Big Data analytics as well as IoT technologies has resulted in massive demand for adding new features in medical devices to improve the disease identification at initial phase, thereby resulting in rise in the market demand. Apart from this, necessity for treating disease at early stage along with need for improving diagnosis, medical or drug treatment, and patient monitoring will drive the industry trends. Thriving healthcare sector will prompt the demand for medical device testing activities in the foreseeable future. This, in turn, will embellish the growth of medical device testing industry over the assessment timeframe.

Furthermore, surge in the number of product recalls as well as escalating necessity of high quality medical devices will prompt the expansion of medical device testing industry over the assessment period. With spinal cord stimulators assisting the patients suffering from pain, the market for medical device testing is likely to expand by leaps & bounds over 2020-2026.

North American Market To Register Exponential Growth Over 2020-2026

The expansion of medical device testing industry in North America over the forecast period is owing to strict laws by the regulatory bodies in the U.S. and Canada for maintaining safety & quality standards. Rise in the requirement of TIC services in the sub-continent will further upsurge the regional market growth. Apart from this, rise in product design complexity and need for reducing costs of the product will result in humungous market penetration in the region within next couple of years. Thriving pharma sector coupled with large-scale presence of mammoth medical device manufacturing firms in the sub-continent will manifest into humungous growth of medical device testing industry in the region over the anticipated period.

Report Scope: 

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Key players profiled in the report include  Pace Analytical Services; Toxikon, Inc.; Charles River Laboratories International, Inc.; SGS S.A.; Sterigenics International LLC; Eurofins Scientific, LLC; Intertek Group plc; North American Science Associates, Inc.; WuXi AppTec Group; and American Preclinical Services LLC.

The global Medical Device Testing Market is segmented as follows:

By Technology

By Device Class

  • Class I
  • Class II
  • Class III

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

The onset of AI & Big Data analytics as well as IoT technologies has resulted in massive demand for adding new features in medical devices to improve the disease identification at initial phase, thereby resulting in rise in the market demand. Apart from this, necessity for treating disease at early stage along with need for improving diagnosis, medical or drug treatment, and patient monitoring will drive the industry trends. Thriving healthcare sector will prompt the demand for medical device testing activities in the foreseeable future. This, in turn, will embellish the growth of medical device testing industry over the assessment timeframe. Furthermore, surge in the number of product recalls as well as escalating necessity of high quality medical devices will prompt the expansion of medical device testing industry over the assessment period.  

According to Zion market research report, the global Medical Device Testing market accrued earnings worth approximately 9.1 (USD Billion) in 2019 and is predicted to gain revenue of about 11.2(USD Billion) by 2026, is set to record a CAGR of nearly 4.6% over the period from 2020 to 2026.

North America will contribute lucratively towards the global market size over the estimated timeline. The regional market surge is due to strict laws by the regulatory bodies in the U.S. and Canada for maintaining safety & quality standards. Rise in the requirement of TIC services in the sub-continent will further upsurge the regional market growth. Apart from this, rise in product design complexity and need for reducing costs of the product will result in humungous market penetration in the region within next couple of years. Thriving pharma sector coupled with large-scale presence of mammoth medical device manufacturing firms in the sub-continent will manifest into humungous growth of medical device testing industry in the region over the anticipated period.

The key market participants include Pace Analytical Services; Toxikon, Inc.; Charles River Laboratories International, Inc.; SGS S.A.; Sterigenics International LLC; Eurofins Scientific, LLC; Intertek Group plc; North American Science Associates, Inc.; WuXi AppTec Group; and American Preclinical Services LLC.

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