Medical Device Analytical Testing Outsourcing Market By Service (Physical Testing, Bioburden Testing, Sterility Testing, Others), By End User (Medical Device Manufacturer, Pharmaceutical Companies): Global Opportunity Analysis and Industry Forecast, 2021-2031
The medical device analytical testing outsourcing market valued for $4,744.84 million in 2021 and is estimated to reach $7,956.99 million by 2031, exhibiting a CAGR of 5.3% from 2022 to 2031.
Medical device analytical testing outsourcing refers to a specific type of contract between the manufacturer and the third-party companies for manufacturing, validation, packing, prototyping, designing, and verifying the medical devices in a sterile and controlled environment for supply chain management. In order to reduce business risks, accelerate product business expansion, and reduce costs, many medical device manufacturers companies go under outsource analytical testing activities. Electronics, finished products, and raw materials are the three main product categories in medical device outsourcing. The major factors driving the growth of global medical device analytical testing outsourcing market are rise in number of key players manufacturing medical devices and high adoption of analytical testing services for medical devices. In addition, rise in prevalence of chronic diseases has led to surge in the demand for new quality medical products, which also increases the adoption of outsourcing testing services. Conversely, the delay in medical devices approval due to lengthy procedure and time restrains the market growth. However, high growth potential in developing economies provide the lucrative opportunity to market growth.
The medical device analytical testing outsourcing market is segmented into service, end user, and region. By service, the market is categorized into physical testing, bioburden testing, sterility testing, and others. On the basis of end user, the market is segregated into medical device manufacturer and pharmaceutical companies. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major Key players that operate in the global medical device analytical testing outsourcing market are Charles River Laboratories International, Inc., Element Materials Technology, Eurofins Scientific, Intetek Group plc, Pace Analytical, Medistri SA, North American Science Associates, LLC, SGS SA, The Smithers Group Inc., and WuXi AppTec.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the medical device analytical testing outsourcing market analysis from 2021 to 2031 to identify the prevailing medical device analytical testing outsourcing market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the medical device analytical testing outsourcing market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global medical device analytical testing outsourcing market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Service
Physical Testing
Bioburden Testing
Sterility Testing
Others
By End User
Medical Device Manufacturer
Pharmaceutical Companies
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
SGS SA
Medistri SA
Element Materials Technology
Pace Analytical
North American Science Associates, LLC
The Smithers Group Inc.
Eurofins Scientific
Intetek Group plc
WuXi AppTec
Charles River Laboratories International, Inc.
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