The Medical Device Testing Global Market Report 2023, provides comprehensive information on the medical device testing market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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According to The Business Research Company's comprehensive analysis in the Medical Device Testing Global Market Report for 2023, the trajectory of the global medical testing device market manifests a trajectory of substantial growth. Forecasts indicate a commendable escalation from the recorded $8.60 billion in 2022 to a projected $9.21 billion in 2023, demonstrating a robust compound annual growth rate (CAGR) of 7%. However, it is imperative to shed light on external factors influencing this trajectory, particularly the disruptive impact of the Russia-Ukraine conflict. This geopolitical turmoil has cast shadows on the prospects of global economic recovery post the COVID-19 pandemic, especially in the short term. The ensuing economic sanctions, coupled with the cascading effects such as heightened commodity prices and supply chain disruptions, have reverberated across diverse markets worldwide. Despite these challenges, the global medical testing device market is anticipated to attain a formidable valuation of $11.58 billion by 2027, reflecting a sustainable CAGR of 5.90%. This trajectory underscores the resilience of the medical device testing sector in navigating challenges and sustaining growth amidst global uncertainties.
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The landscape of the medical device testing market is currently witnessing a significant upswing in the prominence of product innovations, a trend that has garnered widespread attention. Leading companies within this sector are strategically unveiling novel products to fortify their market standing. A notable illustration of this progressive trajectory is exemplified by Nelson Labs, a prominent US-based laboratory testing services provider. In February 2022, Nelson Labs unveiled the Nelson Labs Mark, a cutting-edge product testing verification program designed to authenticate test reports and furnish reliable data on product performance. This pioneering medical device testing and verification program introduces a distinctive feature—two-factor authentication for consumers, empowering them to validate the authenticity of tests. While initially targeted at masks and respirator devices, the program showcases a commitment to elevating the standards of product testing and ensuring the integrity of test results in the dynamic landscape of medical device testing.
The medical device testing market is segmented:
1) Medical Device Testing Market By Testing Type: Physical Testing, Chemical or Biological Testing, Cybersecurity Testing, Microbiology And Sterility Testing, Other Testing Type
2) Medical Device Testing Market By Device Class: Class I, Class II, Class III
3) Medical Device Testing Market By Sourcing Type: In-House, Outsourced
4) Medical Device Testing Market By Service Type: Testing Services, Inspection Services, Certification Services
5) Medical Device Testing Market By End-User: Hospital, Research Center, Homecare Clinics, Other End-User
North America was the largest region in the medical device testing market in 2022.
The table of contents in TBRC’s medical device testing market report includes:
1. Executive Summary
2. Medical Device Testing Market Characteristics
3. Medical Device Testing Market Trends And Strategies
4. Medical Device Testing Market - Macro Economic Scenario
5. Medical Device Testing Market Size And Growth
......
26. Africa Medical Device Testing Market
27. Medical Device Testing Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Medical Device Testing Market
29. Medical Device Testing Market Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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The global medical device testing services market size is expected to reach USD 14.
Download Free Sample Report @ https://www.radiantinsights.com/research/medical-device-testing-services-market/request-sample Significant rise in preclinical spending is a recent trend among pharmaceutical and medical device companies, which is expected to significantly contribute to market growth.
This is expected to deliver competitive advantage to manufacturers.
Further key findings from the report suggest: • By service, biocompatibility tests held the largest share in the global market in 2019 owing to increasing demand for in-vitro testing • Based on phase, the preclinical segment accounted for the dominant share in 2019 and is expected to retain its lead throughout the forecast period • North America dominated the global medical device testing services market in 2019, fueled by increasing demand for new technologies and presence of advanced healthcare infrastructure • Asia Pacific is projected to witness the fastest growth during the forecast period owing to increasing number of diabetic patients in this region • Some of the key market players are Eurofins Scientific, LLC; WuXi AppTec Group; North American Science Associates, Inc.; Sterigenics International LLC; and SGS S.A.
Rising prevalence of chronic disease3.4.1.3.
Improving healthcare infrastructure in emerging economies3.4.2.
The global Medical Device Testing Services Market is estimated to stretch to US$ 13.4 billion by the year 2025.
Growing expenditure in preclinical stage of medical devices, combined with increasing percentage of subcontracting is expected to benefit the market, in achieving important grip.
With reference to type of phase, the subdivision of preclinical testing detained the biggest stake of the market in 2016.
The Medical Device Testing Services industry on the source of Type of Service could span Certification Services, Testing Services Inspection Services, Environment Services, Asset Integrity Management Services, Technical Assistance & Training Services, Auditing Services, Quality-Safety-Health Services, Project Management Services, Consulting Services.
The areas of North America and Europe seized notable increasing stake in 2016 due to well recognized industrial substructure for high end and composite medical procedures.
In North America, the U.S. is the most important country in the field of medical devices by means of alertness between the customers regarding the care and safety of medical devices.
