Medical Device Testing Services Market Size Projected to Reach USD 18.6 Billion by 2028 With CAGR of 11.6% | Grand View Research, Inc.

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According to a new report published by Grand View Research, the market is majorly driven by the increasing influence of strict regulations by the government that led to the increasing demand for verification and validation for medical devices. Besides, the rise in the number of small medical device companies that lack in-house expertise is also boosting the market growth.

The global medical device testing services market size is expected to reach USD 18.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.6% from 2021 to 2028. Increasing complexity in product design and stringent government regulations are driving the market.

A significant rise in preclinical spending is a recent trend among pharmaceutical and medical device companies, which is expected to significantly contribute to market growth. As per a survey carried out by the International Federation of Pharmaceutical Manufacturers and Associations in 2017, around USD 149.8 billion is spent on preclinical trials every year.

With modern medical equipment offering a host of complex functions, the need for appropriate tests to check the compliance of the device with regulatory requirements is becoming vital. In order to meet the requirement of enhanced accuracy, ease of use, and durability, medical devices need to undergo extensive tests. This is expected to deliver a competitive advantage to manufacturers.

The COVID-19 pandemic has created an unprecedented demand for medical device testing services in 2020. This is largely due to the increasing demand for COVID-10 related products such as masks, PPE, and respiratory equipment. Besides, countries such as Mexico, Spain, and France have published pertinent specifications and standards, namely the UNE 0064-1, UNE 0064-2, AFNOR-SPEC-S76 and UNE 0065 which must be met until a mask can be sold.

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Medical Device Testing Services Market Report Highlights

The microbiology and sterility testing segment dominated the market in 2020 and accounted for the largest revenue share of 34.1%. The segment is likely to remain dominant over the forecast period
Producing safe and effective products is a core goal of medical equipment manufacturers and sterility assurance is a major component for achieving it
The preclinical phase segment dominated the market in 2020 and accounted for 65.7% of the revenue share as this stage is mostly focused on assessing the safety and biocompatibility of medical devices
Raw materials, packaging, and design all have an impact on a device’s safety and compatibility, and preclinical testing of all of these factors is an important step in determining a device’s market potential
Asia Pacific dominated the market and accounted for 41.8% of the revenue share in 2020. This is due to the rising demand for medical devices in developing nations such as India and China

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Medical Device Testing Services Market Segmentation

Grand View Research has segmented the global medical device testing services market based on service, phase, and region:

Medical Device Testing Services Outlook (Revenue, USD Million, 2016 – 2028)

Biocompatibility Tests
Chemistry Test
Microbiology & Sterility Test
Bioburden Determination
Pyrogen & Endotoxin Testing
Sterility Test & Validation
Antimicrobial Activity Testing
Others
Package Validation

Medical Device Testing Services Phase Outlook (Revenue, USD Million, 2016 – 2028)

Preclinical
Clinical

Medical Device Testing Services Regional Outlook (Revenue, USD Million, 2016 – 2028)

North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Netherlands
Belgium
Switzerland
Russia
Sweden
Asia Pacific
Japan
China
India
Australia
South Korea
Malaysia
Indonesia
Singapore
Philippines
Thailand
Latin America
Brazil
Mexico
Argentina
Colombia
Chile
Middle East & Africa
South Africa
Saudi Arabia
UAE
Israel
Egypt

List of Key Players of Medical Device Testing Services Market

SGS SA
Toxikon, Inc.
Eurofins Scientific
Pace Analytical Services LLC
Intertek Group Plc
Wuxi AppTec
North American Science Associates, Inc.
TÜV SÜD AG
American Preclinical Services
Sterigenics International LLC
Charles River Laboratories International, Inc.
Medical Device Testing Services

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About Grand View Research

 

Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.

Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.

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