Medical Device Testing Market Global Trends, Share, Industry Size, Growth, Opportunities and Forecast By 2029
The world class Global Medical Device Testing market research report endows clients with the information on their business scenario with which they can build business strategies to thrive in the market. According to this market report, the global market is anticipated to witness a moderately higher growth rate during the forecast period. This can be subjected to the moves of key players or brands which include developments, product launches, joint ventures, mergers and acquisitions that in turn change global face of the industry. Global Medical Device Testingmarket report also takes into account strategic profiling of the major players in the market, all-inclusive analysis of their basic competencies, and hence keeps competitive landscape of the market in front of the client.
Global medical device testing market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 10.8% in the forecast period of 2022 to 2029 and is expected to reach USD 8,423.14 million by 2029 from USD 3,832.27 million in 2021.
Some of the major players operating in the medical device testing market are
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Intertek Group plc
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SGS SA
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Bureau Veritas
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TUV SUD
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TUV Rheinland
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Pace, Charles River Laboratories
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Biomedical Device Labs
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UL LLC
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North American Science Associates, LLC
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Medistri SA
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WuXi AppTec
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NSF, Labcorp
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Eurofins Scientific
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Nelson Laboratories
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LLC- A Sotera Health company
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Gateway Analytical, ITC ZLIN
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Element Materials Technology
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EndoLab Mechanical Engineering GmbH
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Hohenstein, Medical Engineering Technologies Ltd.
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Bioneeds
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Cigniti
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Arbro Pharmaceuticals Private Limited
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Auriga Research Private Limited
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Q Laboratories
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Market Overview
Medical device testing is the process of demonstrating that the device is reliably and safely perform in use. In new product development, extensive design validation testing is applied. This includes performance testing, toxicity and chemical analysis, and sometimes human factors or even clinical testing. Ongoing quality assurance testing is generally more limited. This usually include dimensional checks, some functional tests, and packaging verification. Various types of medical testing services are available there in the market such as inspection services, certification services and among others.
Medical Device Testing Market Dynamics
Drivers
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Rise need for the verification and validation of medical devices
The verification and validation methods are widespread and extensively used in the healthcare industry. In general, verification is the developmental phase of a product if it complies with the specified requirements, whereas validation checks if the intended use has been met and thus, usability specifics are fulfilled. The most common types of verification and validation for medical devices are design, process, and software verification and validation. Medical devices are also becoming smaller and more complex in design, sometimes using advanced, engineered plastics. This makes validation and verification (V&V) all the more important. The result is better repeatability, fewer mistakes, less rework and redesign, faster market-time, improved competitiveness, and lower production costs.
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Increase in the demand of in-vitro tests
In vitro diagnostics (IVD) are tests on samples such as blood or tissue taken from the human body. '-vitro diagnostics can detect diseases or other conditions, and can be used to monitor a person's overall health to help cure, treat, or prevent diseases. In-vitro tests are used in various disease detections such as HIV infections, malaria, hepatitis, among others. The prevalence of such diseases is rapidly increasing globally, leading to the increasing demand for in-vitro tests and various medical devices.
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Escalation in innovation & technologies
Acceleration in technology development in the healthcare sector has tremendously increased in the last few years. Advancement in technology of medical devices supports painless and uncomplicated treatment during disease management. Moreover, innovation and up gradation in medical devices assist for the precise and rapid result of disease diagnosing invention in medical devices also provides cost-effectiveness of technology-based therapeutic tools during disease treatment. Moreover, many government bodies and healthcare organizations are supporting the medical research centers. The primary purpose of this support is to enhance health care innovations worldwide. Henceforth, growing innovation and technological advancement bolster the growth of medical device testing in the forecasted period.
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Highlights of TOC :
Chapter 1: Market overview
Chapter 2: Global Medical Device Testing Market
Chapter 3: Regional analysis of the Global Medical Device Testing industry
Chapter 4: Global Medical Device Testing Market segmentation based on types and applications
Chapter 5: Revenue analysis based on types and applications
Chapter 6: Market share
Chapter 7: Competitive Landscape
Chapter 8: Drivers, Restraints, Challenges, and Opportunities
Chapter 9: Gross Margin and Price Analysis
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