Global Medical Device Testing Market Size study & Forecast, by Service Type (Testing Services, Inspection Services, Certification Services, Others), by Sourcing Type (In-house, Outsourced), by Device Class (Class I, Class II, Class III), by Technology (Ac

Global Medical Device Testing Market Size study & Forecast, by Service Type (Testing Services, Inspection Services, Certification Services, Others), by Sourcing Type (In-house, Outsourced), by Device Class (Class I, Class II, Class III), by Technology (Active Implant Medical Devices, Active Medical Devices, Non-active Medical Devices, Others) and Regional Analysis, 2023-2030

Global Medical Device Testing Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% during the forecast period 2023-2030. Medical device testing is the process of evaluating and verifying the safety, efficacy, and performance of medical devices. This is a crucial step in the development and regulatory approval of medical devices before they can be introduced into the market and used in healthcare settings. The main goals of medical device testing are to ensure that the devices meet specific standards, operate as intended, and pose minimal risks to patients and users. The key factors driving the market growth are stringent regulatory requirements, expansion of the global healthcare industry, increasing emphasis on validation and verification of medical devices, and shift toward outsourcing of medical device testing services that are anticipated to support the market growth during the forecast period 2023-2030.

Additionally, the growing healthcare industry plays a significant role in supporting the growth of the medical device testing market. As the healthcare industry expands, there is a rising demand for various medical devices such as diagnostic equipment, implants, and monitoring devices. This increased demand for medical devices necessitates rigorous testing to ensure their safety, efficacy, and compliance with regulatory standards. According to Statista, in 2020, the global hospital market was valued at USD 3.40 trillion; in 2022 the number reached 3.93 trillion and it is anticipated to reach USD 4.40 trillion by 2025. As a result, the growing healthcare industry is anticipated to support the market growth. Moreover, technological advancements in medical device testing and growing healthcare expenditure are anticipated to create lucrative opportunities for the market over the projected period. However, the high cost of medical devices stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Medical Device Testing Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the robust research & development activities, increasing adoption of advanced technologies, and rising demand for healthcare services. Whereas, the Asia Pacific is expected to grow with the highest CAGR over the forecast period, owing to factors such as the growing focus on increasing production of high-end medical devices, rising concerns regarding product safety and regulatory compliance, increasing demand for medical devices, and rising need for robust testing procedures.

Major market player included in this report are:
SGS (Société Générale De Surveillance SA)
Eurofins Scientific
Bureau Veritas
Element Materials Technology
Gateway Analytical
Medistri Sa
North American Science Associates, Llc (Namsa)
Wuxi Apptec
Laboratory Corp of America Holdings (LabCorp)
Charles River Laboratories

Recent Developments in the Market:
 In January 2022, TÜV SÜD enhanced its medical device testing facility in New Brighton, Minnesota, with a state-of-the-art laboratory. This advanced facility offers an extensive array of chemical and biological testing services for medical devices, complementing TÜV SÜD's existing capabilities in active medical device testing.

Global Medical Device Testing Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Service Type, Sourcing Type, Device Class, Technology, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

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 years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential 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:

By Service Type:
Testing Services
Inspection Services
Certification Services
Others
By Sourcing Type:
In-house
Outsourced
By Device Class:
Class I
Class II
Class III
By Technology:
Active Implant Medical Devices
Active Medical Devices
Non-active Medical Devices
IVD Medical Devices
Ophthalmic Medical Devices
Orthopedic Medical Devices
Vascular Medical Devices
Others
By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
SGS (Société Générale De Surveillance SA)
Eurofins Scientific
Bureau Veritas
Element Materials Technology
Gateway Analytical
Medistri Sa
North American Science Associates, Llc (Namsa)
Wuxi Apptec
Laboratory Corp of America Holdings (LabCorp)
Charles River Laboratories

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