Medical Devices Testing Services Market Research Report : Industry Analysis, Growth Trends and Market Forecasts 2020-2027 – Emergen Research
The global Medical Devices Testing Services Market will be worth USD 14.25 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing demand for testing of medical devices. The increasing need to obtain enhanced accuracy and durability of the medical devices has resulted in the rising adoption of the testing services by pharmaceutical companies.
To limit the rising number of product recalls, medical device manufacturers are outsourcing testing services to third-party organisations, which is anticipated to fuel market expansion for testing services for medical devices. The need for medical device testing services is most likely to be fueled by the existence of strict regulatory processes to verify the safety of the gadgets. A developing trend in the medical devices testing industry is the desire for in-vitro tests to identify infectious infections, track pharmacological regimens, and assess patients’ general health. Market..
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The increasing demand for medical devices testing and the growing incidence of chronic diseases are driving the demand of the market.
Additional factors anticipated to contribute to market revenue growth during the forecast period include growing government initiatives to develop new and effective drugs, rising demand for in-vitro tests to identify contagious diseases, and rising consumption of medical devices to upgrade healthcare infrastructure (particularly in developing nations). Additionally, in order to decrease product recalls, manufacturers are outsourcing medical device testing services to third-party organisations, which is anticipated to further accelerate market expansion. But throughout the projected period, factors including the high cost of testing services, the lengthy process of getting a product qualified for all medical standards and processes, and the delay in the exporting and importing of medical devices can restrain market growth to some extent.
Top Companies Profiled in the Medical Devices Testing Services Market Report 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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It exclusively offers details about the regulatory framework and development policies that have been implemented in the market over recent years latest Medical Devices Testing Services Market trends The Global Medical Devices Testing Services Market report is an all-inclusive document on the current scenario of the global Medical Devices Testing Services Market industry.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Key Highlights of Report :
The preclinical segment held the largest market share of 57.6% in 2019. Increasing investments in the R&D of the preclinical testing of medical devices is expected to drive the growth of the segment.
Microbiology & Sterility Testing are forecasted to grow with the fastest CAGR of 10.0% over the forecast period. Rising investments by the biotechnology and pharmaceutical industries on the testing services and increasing research are expected to drive the growth of the segment.
The Asia Pacific region is expected to be the fastest-growing region over the forecast period. Increasing government initiatives on improving the healthcare infrastructure and availability of skilled labor at lower costs are driving the Medical Devices Testing Services market in the region.
Emergen Research has segmented the global Medical Devices Testing Services Market on the basis of Phase, Service, and region:
Phase Outlook (Revenue, USD Billion; 2017-2027)
Preclinical (Medical Coatings and Antimicrobial Wound Dressings)
Service Outlook (Revenue, USD Billion; 2017-2027)
Microbiology & Sterility Testing (Pyrogen and Endotoxin Testing, Anti-microbial Activity Testing, Sterility Test and Validation and Bio-Burden Determination)
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The global Medical Devices Testing Services Market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global Medical Devices Testing Services Market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements
Table of Contents:
Chapter 1 includes an introduction of the global Medical Devices Testing Services Market , along with a comprehensive market overview, market scope, product offerings, and an investigation of the market drivers, growth opportunities, risks, restraints, and other vital factors.
Chapter 2 offers an in-depth analysis of the key manufacturers engaged in this business vertical, along with their sales and revenue estimations.
Chapter 3 elaborates on the highly competitive terrain of the market, highlighting the key manufacturers and vendors.
In Chapter 4, our team has fragmented the market on the basis of regions, underscoring the sales, revenue, and market share of each region over the forecast timeline.
Chapters 5 and 6 have laid emphasis on the market segmentation based on product type and application
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