Medical Device Testing Market Size, Share, Growth Report 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 Size Was Worth 9.1 (USD Billion) in 2019 and Is Expected To Reach 11.2(USD Billion) by 2026, CAGR of nearly 4.6%

Global Medical Device Testing Market Size

The global Medical Device Testing market size 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 an 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).

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Medical Device Testing Market: Introduction

Breakthroughs in the production of new testing methods for sterilizing and determining cytotoxicity are likely to present new growth opportunities for the 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 the Chinese FDA to check the efficiency as well as determine the defects in medical equipment. The rise in then COVID cases across the globe has led to increasing 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 the 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 disease identification at the initial phase, thereby resulting in a rise in the market demand. Apart from this, the necessity for treating the disease at an early stage along with a need for improving diagnosis, medical or drug treatment, and patient monitoring will drive the industry trends. The thriving healthcare sector will prompt the demand for medical device testing activities in the foreseeable future. This, in turn, will embellish the growth of the medical device testing industry over the assessment timeframe.

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

Medical Device Testing Market Report Scope:

Report Attributes Report Details
Report Name Medical Device Testing Market Research Report
Market Size in 2019 USD 9.1 Billion
Market Forecast in 2026 USD 11.2 Billion
Compound Annual Growth Rate CAGR of 4.6%
Number of Pages 150
Forecast Units Value (USD Billion), and Volume (Units)
Key Companies Covered 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.
Segments Covered By Technology, By Device Class, And By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Countries Covered North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
Base Year 2021
Historical Year 2016 to 2020
Forecast Year 2022 - 2030
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

 

North American Market To Register Exponential Growth Over 2020-2026

The expansion of the 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. A rise in the requirement for TIC services in the sub-continent will further upsurge the regional market growth. Apart from this, the rise in product design complexity and the need for reducing the costs of the product will result in humungous market penetration in the region within the next couple of years. The thriving pharma sector coupled with the large-scale presence of mammoth medical device manufacturing firms in the sub-continent will manifest in humungous growth of the medical device testing industry in the region over the anticipated period.

Key Market Players & Competitive Landscape

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
  • American Preclinical Services LLC.

The global Medical Device Testing Market is segmented as follows:

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 Devices
  • Vascular Medical Device

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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