The global Medical Devices Testing Services Market will be worth USD 14.25 Billion by 2027, according to a current analysis by Emergen Research. The latest report offers a profound analysis of the present market scenario, its key product types, end-user landscape, application outlook, leading regions, competitive terrain, and the leading companies' detailed profiles. The report gathers viable information on the most established industry players, sales and distribution channels, regional spectrum, estimated market share and size, and revenue estimations over the forecast timeframe. Increasing demand for in-vitro tests to detect infectious diseases and monitor drug therapies and the overall health condition of the patients is a growing trend in the medical devices testing services Market.
The growth of this market can be attributed to the increasing demand for testing of medical devices. The increasing need to obtain enhanced accuracy and durability of the medical devices has resulted in the rising adoption of the testing services by pharmaceutical companies. The report sheds light on the mergers and acquisitions, collaborations, joint ventures, brand promotions and product launches, agreements and partnerships, and corporate and government deals. Manufacturers of medical devices are outsourcing the testing services to third-party entities to reduce the increasing product recalls, which is expected to drive the growth of the medical devices testing services market. The presence of stringent regulatory protocols to ensure the safety of the devices is most likely to fuel the demand for the testing services of the medical devices.
Key Highlights From The Report
- In January 2020, SGS acquired Thomas J. Stephens & Associates, Inc., a nationally recognized clinical research organization that is serving the cosmetic and personal care industry. The acquisition is expected to expand the consumer & retail service portfolio of SGS in the clinical testing sector for cosmetic and personal care products in the USA.
- The preclinical segment held the largest market share of 57.6% in 2019. Increasing investments in the R&D of the preclinical testing of medical devices is expected to drive the growth of the segment.
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The study performs a historical assessment of the Medical Devices Testing Services from 2017 to 2018, focusing on the market trends, revenue share, growth rate, production capacity, pricing structure, and other vital aspects during that period. The report emphasizes the demands and ongoing trends of the global Medical Devices Testing Services market, more importantly, across the major regions of the market. Additionally, our analysts have included SWOT analysis and Porter's Five Forces analysis in the report to offer a better understanding of the competitive spectrum of this ever-evolving industry.
Key participants include SGS S.A., Toxikon, Inc., Intertek Group plc, Pace Analytical Services, Charles River Laboratories International, Inc., American Preclinical Services LLC, North American Science Associates, Inc., Sterigenics International LLC, Eurofins, and WuXi AppTec Group, among others.
The global Medical Devices Testing Services market report evaluates the latest economic scenario in terms of value and volume. It highlights the key growth drivers, restraints, production capacity, demand & supply ratio, import/export status, growth rate, and other critical aspects. Additionally, the report also performs SWOT analysis, Porter's Five Forces analysis, speculation attainability investigation, and venture return investigation.
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The global Medical Devices Testing Services market consists of various segments, including product type outlook, application spectrum, end-user overview, leading regions, and the competitive analysis. The report further provides information regarding the value chain, emerging market sectors, and the technological advancements in the industry to benefit readers and businesses looking to invest in this industry.
Emergen Research has segmented the global Medical Devices Testing Services Market on the basis of Phase, Service, and region:
- Phase Outlook (Revenue, USD Billion; 2017-2027)
- Clinical
- Preclinical (Medical Coatings and Antimicrobial Wound Dressings)
- Service Outlook (Revenue, USD Billion; 2017-2027)
- Chemistry Test
- Package Validation
- Microbiology & Sterility Testing (Pyrogen and Endotoxin Testing, Anti-microbial Activity Testing, Sterility Test and Validation and Bio-Burden Determination)
- Biocompatibility Tests
Major Regions Covered in the Medical Devices Testing Services Market Report:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Objectives of the Report:
- Analysis and estimation of the Medical Devices Testing Services market size and share for the projected period of 2020-2027
- Extensive analysis of the key players of the market by SWOT analysis and Porter's Five Forces analysis to impart a clear understanding of the competitive landscape
- Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Medical Devices Testing Services market
Table of ContentChapter 1. Methodology & Sources 1.1. Market Definition 1.2. Research Scope 1.3. Methodology 1.4. Research Sources 1.4.1. Primary 1.4.2. Secondary 1.4.3. Paid Sources 1.5. Market Estimation TechniqueChapter 2. Executive Summary 2.1. Summary Snapshot, 2019-2027Chapter 3. Key InsightsChapter 4. Medical Devices Testing Services Market Segmentation & Impact Analysis 4.1. Medical Devices Testing Services Market Material Segmentation Analysis 4.2. Industrial Outlook 4.2.1. Market indicators analysis 4.2.2. Market drivers analysis 4.2.2.1. Increasing demand of Testing for Medical devices 4.2.2.2. Stringent Regulatory Scenario 4.2.2.3. Rising incidence of chronic disease 4.2.2.4. Increasing technological advancement of the medical devices 4.2.2.5. Improving healthcare infrastructure in emerging economies 4.2.3. Market restraints analysis 4.2.3.1. Rising cost of medical device testing services 4.2.3.2. Presence of complicated reimbursement policies 4.2.3.3. Present challenging economic conditions due to the pandemic 4.3. Technological Insights 4.4. Regulatory Framework 4.5. Porter's Five Forces Analysis 4.6. Competitive Metric Space Analysis 4.7. Price trend Analysis 4.8. Covid-19 Impact Analysis
Chapter 5. Medical Devices Testing Services Market By Phase Insights & Trends, Revenue (USD Million), Volume (Kilo Tons) 5.1. Phase Dynamics & Market Share, 2019 & 2027 5.1.1. Clinical 5.1.2. Preclinical (Medical Coatings and Antimicrobial Wound Dressings)
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Global Medical Devices Testing Services Market Highlights:
- Regional demand estimation and forecast
- Product Mix Matrix
- R&D Analysis
- Cost-Benefit Analysis
- Pre-commodity pricing volatility
- Supply chain optimization analysis
- Technological updates analysis
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