Medical Device Testing Market is expected to grow from USD 8.5 Billion in 2017 to USD 14.58 Billion by 2026, at a CAGR of 6.18% between 2017 and 2026. (Detailed analysis of the market CAGR is provided in the report)
Medical Device testing is the procedure of quality check of medical devices, such as MRI equipment, Defibrillators etc. Both hardware and software components are tested under medical device testing. The medical device testing comprises, certificate testing, factory testing, and R&D testing. Testing includes verification and validation of both hardware and software.
Medical device testing marketIncreasing need of verification and validation for medical devices, stringent government regulations and standards across medical devices and medical device technologies are the major driving factors for the growth of medical device testing market. However, local laws and regulations & jurisdiction of each region and country is restraining the market growth.
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Further key findings from the report:
• Outsourced services is expected to grow at highest CAGR between 2017 and 2026 owing to increasing outsourcing of medical devices for device inspection, testing, and certification services by many major firms. Applications such as consumer goods and manufacturing owing to the capital-intensive nature of in-house TIC activities are booming the demand for outsourcing TIC services to third party vendors
• Among the service types, testing services held the largest market share of medical device testing market in 2016 and is expected to lead the market during the forecast period. Growing demand for good quality and standard products across the industry is boosting demand for TIC services in medical devices
• From technology segment, IVD medical devices accounted for the largest share of medical device testing market in 2016. With technological advancements, improved treatment monitoring, better diagnostic tools, and increased availability of over-the-counter tests marketplace is witnessing rapid growth
• North America held the largest share of the medical device testing market in 2016 owing to increased awareness among the users about the safety and security of medical devices in US. The federal government established medical devices regulating agencies, such as FDA
Key Highlights:
• Analyzes competitive developments such as contracts, joint ventures, mergers & acquisitions, collaborations, product launches & developments, and research and development (R&D) in the Medical Device Testing Market
• The objective of the report is to provide a detailed analysis of the Medical Device Testing Market on the basis of service type, sourcing type, device class, technology, and geography
• Complete quantitative analysis of the industry from 2017 to 2026 to enable the stakeholders to capitalize on the prevailing market opportunities
• In-depth analysis of the industry on the basis of market segments, market dynamics, market size, competition & companies involved value chain
• Analysis of the Medical Device Testing Market with respect to individual growth trends, prospects, and contribution to the total market
• Segment wise business performance detailed in report will be worthwhile for the organizations willing to enhance its business
• Provides detailed information regarding the major factors influencing the growth of the Medical Device Testing Market (drivers, restraints, opportunities, and challenges)
• This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business
Years that have been considered for the study are as follows:
• Base Year – 2016
• Estimated Year – 2017
• Forecast Period – 2017 to 2026
For company profiles, 2016 has been considered as the base year. In cases, wherein information was unavailable for the base year, the years prior to it have been considered
Research Methodology:
Bloomberg, Hoovers, Factiva are some of the sites that are being referred to gain insights about Medical Device Testing Market. Experts from top manufacturing companies along with other stakeholders have been considered. This is done to validate and collect critical information for evaluating trends related to this market during the forecast period. Top-down and bottom-up approaches have been used to estimate the global and regional size of this market. Data triangulation techniques along with other comparative analysis are also used to calculate the exact size of the Medical Device Testing Market globally.
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Key Players in the Medical Device Testing Market Are:
• Bureau Veritas
• SGS
• TUV SUD
• Intertek
• BSI
• TUV Rheinland
• Dekra
• Eurofins Scientific
• UL
• ASTM
• Pace Analytical Services
• Toxikon
• Wuxi Apptec
• Source Bioscience
• BDC Laboratories
• NSF International
• Charles River Laboratories
• Surpass
Key Target Audience:
• Original equipment manufacturers (OEMs)
• Raw material and testing equipment suppliers
• End-users/enterprise-users
• Research institutes and organizations
• Government bodies, venture capitalists, and private equity firms
• Market research and consulting firms
• Enterprise data center professionals
The scope of the Medical Device Testing Market:
Research report categorizes the Medical Device Testing Market based service type, sourcing type, device class, technology and geography (region wise). Market size by value is estimated and forecasted with the revenues of leading companies operating in the Medical Device Testing Market with key developments in companies and market trends.
Medical Device Testing Market, By Service Type:
• Inspection Services
• Testing Services
• Certification Services
Medical Device Testing Market, By Sourcing Type:
• In-House
• Outsourced
Medical Device Testing Market, by Device Class:
• Regional Class Differentiation
• Class I
• Class II
• Class III
Medical Device Testing Market, By Technology:
• Active Medical Device
• Active Implant Medical Device
• Non-Active Medical Device
• Ophthalmic Medical Device
• In-Vitro Diagnostic Medical Device
• Orthopedic and Dental Medical Device
• Vascular Medical Device
Medical Device Testing Market, By Geography:
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
MAJOR TOC OF THE REPORT
Chapter One: Medical Device Testing Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Medical Device Testing Market Competition, by Players
Chapter Four: Global Medical Device Testing Market Size by Regions
Chapter Five: North America Medical Device Testing Revenue by Countries
Chapter Six: Europe Medical Device Testing Revenue by Countries
Chapter Seven: Asia-Pacific Medical Device Testing Revenue by Countries
Chapter Eight: South America Medical Device Testing Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Medical Device Testing by Countries
Chapter Ten: Global Medical Device Testing Market Segment by Type
Chapter Eleven: Global Medical Device Testing Market Segment by Application
Chapter Twelve: Global Medical Device Testing Market Size Forecast (2019-2026)
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