Medical Device Testing Market 2020-2027: Growth Forecast & Industry Share Report
Global Medical Device Testing Market is valued approximately at USD 8.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.8 % over the forecast period 2020-2027. Medical devices are subject to stringent regulatory requirements, because it is important to ensure the effectiveness and health of medical equipment. It is also compulsory for each product to conform with national and international requirements before entering the market. In order to provide customers with consistency and secure service, a rigorous check is carried out before the products are put on the market.
The regional analysis of global Medical Device Testing market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to Strict regulations have been established by the governments to maintain quality and safety standards in the industry. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such rising per capita income among the middle class, growing consumer awareness regarding the importance of certification would create lucrative growth prospects for the Medical Device Testing market across Asia-Pacific region.
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The test is conducted in two forms, the first in-house test, where all experiments are done under the umbrella of the producer and his staff. As a result of growing demand for safety and better customer care, the global market for medical device testing services anticipated to expect phenomenal growth in the future. Increasing requirement for validation and verification of medical devices along with obligation of rigorous government regulations are prominent factors of the market growth. However, long lead time for overseas qualification tests is creating significant challenge in the market growth.
Apart from this, the key players of global Medical Device Testing market have adopted various strategies to gain competitive advantage including product launch, mergers and acquisition, partnerships and agreements, investment, funding and others. For instance, In October 2019, TÜV SÜD signed a Memorandum of Understanding (MOU) with the NUS Center for Additive Manufacturing (AM.NUS) at the National University of Singapore (NUS) to facilitate research and development initiatives in the field of 3D printing biomedical devices for clinical trials. In June 2020, Intertek reported the extension of its personal protective equipment offerings to include the pre-certification testing of N95 respirators to the specifications laid down by the National Institute for Occupational Safety and Health (NIOSH). With these new programs, Intertek has also extended its strategies and tools to support consumers and the global community during the COVID-19 pandemic.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
To access a sample pages of this report titled “Global Medical Device Testing Market Size study, by Service Type ( Testing Services, Inspection Services, Certification Services), By Sourcing ( In-house, Outsourced), by Device Class (Class I, Class II, 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, Vascular Medical Device, Other ) and Regional Forecasts 2020-2027” in detail along with the table of contents, please click the link below: https://www.marketstudyreport.com/reports/global-medical-device-testing-market-size-research
Medical Device Testing Market By Service Type:
- Testing Services
- Inspection Services
- Certification Services
Medical Device Testing Market By Sourcing:
Medical Device Testing Market By Device Class:
- Class I
- Class II
- Class III
Medical Device Testing Market 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
- Vascular Medical Device
Medical Device Testing Market By Region:
- North America
Major market player included in this report are:
- Eurofins Scientific
- Bureau Veritas
- TÜV SÜD
- TÜV Rheinland
- Elements Material Technology
Global Pharmaceutical Testing and Analytical Services Market Size study, by Service Type, By End-User and Regional Forecasts 2020-2027
Global Pharmaceutical Testing and Analytical Services Market is valued approximately USD 3.50 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.00 % over the forecast period 2020-2027. Pharmaceutical testing and analytical services serve a variety of purposes and used to identify the chemical composition and molecular structure of each individual substance contained in a medication. This approach is mainly used to provide insights into a drugs performance and safety considerations. Also, these services can predict the medications ability to reach to specific target within a body.
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