Dublin, May 06, 2021 (GLOBE NEWSWIRE) -- The "Medical Device Testing Market by Service Type (Testing and Certification) Location, Technology (Active Implant, Active Medical, In-Vitro Diagnostic, Ophthalmic, Orthopedic and Dental, Vascular), Device Class, and Geography - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
This report provides in-depth analysis of the medical device testing market in five major geographies and emphasizes on the current market trends, market size, market share, recent developments, and forecast till 2027.
The medical device testing market is expected to reach $12.5 billion by 2027, growing at a CAGR of 4.7% during the forecast period of 2019 to 2027. The growth in this market is mainly driven by the increasing need for the validation and verification of medical devices and stringent government regulations and standards across medical devices and medical device technologies. Furthermore, growing medical device industries in emerging countries and the integration of mobile and medical devices are offering opportunities for the growth of this market. However, dynamic regulations/standards across regions and lack of testing facilities and skilled resources can obstruct the growth of this market.
The study offers a comprehensive analysis of the medical device testing market with respect to service type, sourcing type, technology, device class, and geography. The medical device testing market is segmented by service type (testing, (physical testing, (electrical safety testing, functional safety testing, EMC testing, environmental testing, and others), chemical/biological testing and cybersecurity testing (biological evaluation & biocompatibility testing, biological, physical, & chemical testing)) & certification) sourcing type (in-house and outsourced), technology (active implant medical device, active medical device, non-active medical device, in-vitro diagnostic medical device, ophthalmic medical device, orthopedic and dental medical device, vascular medical device, and other), device class (class-1, class-2, & class-3), and region The study also evaluates industry competitors and analyses the market at the country level.
Based on service type, the testing services segment commanded the largest share of the medical device testing market in 2020. This large share of this segment is attributed to the high demand for quality and safety products and strong recommendations from regulatory authorities to ensure the safety, quality, and efficiency of medical products.
Based on sourcing type, the in-house segment accounted for the largest share of the medical device testing market in 2020. Conducting in-house testing services allows manufacturers to exert higher control levels by keeping services and personnel under direct check.
Based on technology, the in-vitro diagnostic devices segment accounted for the largest share of the medical device testing market in 2020. The marketplace has witnessed rapid growth driven by technological advancements, better diagnostic tools, and improved treatment monitoring, and increased availability of over-the-counter tests. Furthermore, the active implant medical devices segment is expected to grow at the highest CAGR during the forecast period.
Geographically, the market is segmented into five major geographies, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The North American region commanded the largest share of the medical device testing market in 2020. However, the Asia-Pacific region is expected to witness rapid growth during the forecast period.
The key players operating in the global medical device testing market are SGS S.A (Switzerland), Bureau Veritas S.A. (France), Intertek Group Plc. (U.K.), Dekra SE (Germany), TUV SUD (Germany), TUV Rheinland Ag Group (U.S.), Eurofins Scientific SE (Luxembourg), British Standards Institution (BSI) Group (U.K.), Element Materials Technology Ltd. (U.K.), UL LLC (U.S.), Pace Analytical Services, LLC (Germany), North American Science Associates, Inc. (NAMSA) (U.S.), Medistri SA (Switzerland), and Avomeen Analytical Services (U.S.), among others.
Key questions answered in the report
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Which are the high growth market segments in terms of service, sourcing type, technology, device class, and countries?
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What is the historical market for medical device testing across the globe?
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What are the market forecasts and estimates from the period of 2019-2027?
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What are the major drivers, restraints, and opportunities in the medical device testing market?
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Who are the major players in the medical device testing market, and what share of the market do they hold?
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Who are the major players in various countries, and what share of the market do they hold?
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How is the competitive landscape?
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What are the recent developments in the medical device testing market?
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What are the different strategies adopted by the major players in the medical device testing market?
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What are the geographical trends and high-growth countries?
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Who are the local emerging players in the medical device testing market and how do they compete with the other players?
Key Topics Covered:
1. Introduction
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency and Limitations
1.3.1. Currency
1.3.2. Limitations
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Approach
2.2. Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research
2.3. Market Assessment
2.3.1. Market Size Estimation
2.3.2. Bottom-Up Approach
2.3.3. Top-Down Approach
2.3.4. Growth Forecast
2.4. Assumptions for the Study
3. Executive Summary
3.1. Overview
3.2. Market Analysis, by Service
3.3. Market Analysis, by Technology
3.4. Market Analysis, by Device Class
3.5. Market Analysis, by Geography
3.6. Competitive Analysis
4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Growing Need for Validation and Verification of Medical Devices
4.2.2. Stringent Government Regulations and Standards Across Medical Devices and Technologies
4.2.3. Increasing Cases of Medical Device Recalls
4.3. Restraints
4.3.1. Dynamic Regulations/Standards Across Regions
4.3.2. Lack of Testing Facilities and Skilled Resources
4.4. Opportunities
4.4.1. Rapidly Growing Medical Devices Market in Emerging Economies
4.4.2. Rising Integration of Mobile and Medical Devices
4.5. Challenges
4.5.1. Reliability Concerns Among New Service Providers
4.6. Trends
4.6.1. Growing Inclination Towards Outsourcing Medical Device Testing Services
4.7. Impact of Covid-19 On the Medical Devices Market
5. Medical Device Testing Market, by Service
5.1. Introduction
5.2. Testing Services
5.2.1. Physical Testing
5.2.1.1. Electrical Safety Testing
5.2.1.2. Functional Safety Testing
5.2.1.3. EMC Testing
5.2.1.4. Environmental Testing
5.2.1.5. Others
5.2.2. Chemical/Biological Testing
5.2.2.1. Biological Evaluation & Biocompatibility Testing
5.2.2.2. Biological, Physical, & Chemical Testing
5.2.3. Cybersecurity Testing
5.3. Certification Services
6. Medical Device Testing Market, by Technology
6.1. Introduction
6.2. In-Vitro Diagnostic (IVD) Medical Device
6.3. Orthopaedic and Dental Medical Device
6.4. Vascular Medical Device
6.5. Active Medical Device
6.6. Ophthalmic Medical Device
6.7. Active Implant Medical Device (AIMD)
6.8. Non-Active Medical Device
6.9. Other Devices
7. Medical Device Testing Market, by Device Class
7.1. Introduction
7.2. Class-I Devices
7.3. Class-II
7.4. Class-III
8. Medical Device Testing Market, by Geography
8.1. Introduction
8.2. North America
8.2.1. U.S
8.2.2. Canada
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. U.K.
8.3.4. Italy
8.3.5. Spain
8.3.6. Rest of Europe
8.4. Asia-Pacific
8.4.1. Japan
8.4.2. China
8.4.3. India
8.4.4. Rest of Asia-Pacific
8.5. Latin America
8.6. Middle East & Africa
9. Competitive Landscape
9.1. Key Growth Strategies
9.2. Competitive Benchmarking
9.3. Market Share Analysis
10. Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments)
10.1. SGS S.A
10.2. Bureau Veritas S.A.
10.3. Intertek Group PLC
10.4. TUV SUD
10.5. Dekra SE
10.6. TUV Rheinland AG
10.7. Eurofins Scientific SE
10.8. British Standards Institution (BSI) Group
10.9. Element Materials Technology Ltd.
10.10. UL LLC
10.11. Pace Analytical Services, LLC
10.12. North American Science Associates, Inc. (NAMSA)
10.13. Medistri SA
10.14. Avomeen Analytical Services
11. Appendix
11.1. Questionnaire
11.2. Available Customization
For more information about this report visit https://www.researchandmarkets.com/r/qh25ma
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