The global medical device testing services market size is expected to reach USD 14.6 billion by 2027, according to a new report by Grand View Research, Inc., registering a 9.4% CAGR over the forecast period. Growing trend of clinical outsourcing is one of the major factors contributing to market growth. Recent advancements in the development of novel test methods for sterilization, irritation, and cytotoxicity are likely to propel the market during the forecast period.
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 & Associations in 2017, around USD 149.8 billion is spend on preclinical trials every year.
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With modern medical devices 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 competitive advantage to manufacturers.
Rising pressure to contain overall device development costs and avoid the risk of product recall is also compelling manufacturers to outsource testing activities to third-party entities. This trend is expected to contribute to market growth over the forecast period.
Medical Device Testing Services Market Report Highlights
• 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. Most players are focusing on new product development and launch in order to maintain their position in market.
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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 Service Outlook (Revenue, USD Million, 2016 - 2027)
• Biocompatibility Tests
• Chemistry Test
• Microbiology & Sterility Testing
o Bio-Burden Determination
o Pyrogen and Endotoxin Testing
o Sterility Test and Validation
o Anti-microbial Activity Testing
o Others
• Package Validation
Medical Device Testing Services Phase Outlook (Revenue, USD Million, 2016 - 2027)
• Preclinical
o Antimicrobial Wound Dressings
o Medical Coatings
o Others
• Clinical
Medical Device Testing Services Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
o Spain
o Italy
o Netherlands
o Belgium
o Switzerland
o Russia
o Sweden
• Asia Pacific
o India
o Japan
o China
o Australia
o South Korea
o Malaysia
o Indonesia
o Singapore
o Philippines
o Thailand
• Latin America
o Brazil
o Mexico
o Argentina
o Colombia
o Chile
• Middle East & Africa
o South Africa
o Saudi Arabia
o UAE
o Israel
o Egypt
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.