Medical Devices Testing Services Market Size Worth USD 22.43 Billion in 2032 | Emergen Research
The growing government initiatives on improving the healthcare infrastructure and improvement in medical device technology are driving the demand of the Medical Devices Testing Services Market
Vancouver, Nov. 15, 2023 (GLOBE NEWSWIRE) — The global Medical Devices Testing Services Market will be worth USD 22.43 Billion by 2032, according to a current analysis by Emergen Research. The growth of this market can be attributed to the growing government initiatives on improving the healthcare infrastructure. The increasing healthcare budgetary allocation in the emerging economies is expected to drive the demand for the medical devices testing services market.
The improvement in medical device technology has resulted in the increased efficiency of the devices and improved patient care, which in turn has increased the adoption of the testing services. Increasing development in the field of personalized medicine and the drug-device combination is most likely to fuel the demand for the testing services. Technological advancements such as the implementation of Artificial Intelligence or the Internet of Things in the testing services of the medical devices is expected to drive the growth of the market.
The presence of complicated reimbursement policies is expected to restrain the growth of the Medical Devices Testing Services market. Moreover, the rising cost of medical device testing services is projected to hamper the demand for testing services.
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Scope of Research
|Market size value in 2019||USD 7.20 Billion|
|CAGR (2023 – 2032)||9.5%|
|Revenue forecast in 2032||USD 22.43 Billion|
|Base year for estimation||2022|
|Quantitative units||Volume in Tons, Revenue in USD Thousand, and CAGR from 2023 to 2032|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Phase, Service, region|
|Regional scope||North America; Europe; Asia Pacific; Central & South America; MEA|
|Country scope||U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey|
|Key companies profiled||SGS S.A., Toxikon, Inc., Intertek Group plc, Pace Analytical Services, Charles River Laboratories International, Inc., American Preclinical Services LLC, North American Science Associates, Inc., Sterigenics International LLC, Eurofins, and WuXi AppTec Group|
|Customization scope||10 hrs of free customization and expert consultation|
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Major Companies and Competitive Landscape
The Medical Devices Testing Services Market is moderately fragmented with a large number of small and medium-sized manufacturers, which account for a major part of the global share. The manufacturers are well-equipped with manufacturing facilities and are involved in several research & development activities. Some of the prominent players in the Medical Devices Testing Services Market include:
- SGS S.A.
- Toxikon, Inc.
- Intertek Group plc
- Pace Analytical Services
- Charles River Laboratories International, Inc.
- American Preclinical Services LLC
- North American Science Associates, Inc.
- Sterigenics International LLC
- WuXi AppTec Group
In April 2019, SGS, the leading inspection, verification, testing, and certification company in the world, has entered into a joint venture with Allion Labs, which is a renowned Internet of Things testing service provider.
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Key Highlights from The Report
- In June 2020, Intertek, a total quality assurance provider to industries worldwide, announced the expansion of its personal protective equipment services to include precertification testing of N95 respirators to requirements set by the National Institute for Occupational Safety and Health (NIOSH).
- The preclinical segment held the largest market share of 57.6% in 2019. Rising investments by the pharmaceutical companies to increase the efficiency of the testing services of the medical devices is expected to drive the growth of the segment.
- The Microbiology & Sterility Testing segment is forecasted to grow with the fastest CAGR of 10.0% over the forecast period. The increasing research & development in life science research is expected to drive the growth of the segment.
- North America accounted for the second-largest market share of the Medical Devices Testing Services market in 2019 due to the presence of a technologically advanced healthcare system and the presence of major medical device companies in the region.
- Key participants include SGS S.A., Toxikon, Inc., Intertek Group plc, Pace Analytical Services, Charles River Laboratories International, Inc., American Preclinical Services LLC, North American Science Associates, Inc., Sterigenics International LLC, Eurofins, and WuXi AppTec Group, among others.
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Emergen Research has segmented the global Medical Devices Testing Services Market on the basis of Phase, Service, and region:
- Phase Outlook (Revenue, USD Billion; 2019-2032)
- Preclinical (Medical Coatings and Antimicrobial Wound Dressings)
- Service Outlook (Revenue, USD Billion; 2019-2032)
- Chemistry Test
- Package Validation
- Microbiology & Sterility Testing (Pyrogen and Endotoxin Testing, Anti-microbial Activity Testing, Sterility Test and Validation and Bio-Burden Determination)
- Biocompatibility Tests
- Regional Outlook (Revenue, USD Billion; 2019-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
- North America
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