Increasing incidence of various chronic diseases across the globe, growing demand for in-vitro tests, and rising focus on developing advanced medical devices testing services are some key factors expected to drive global market growth.
Increasing incidence of various chronic diseases across the globe, growing demand for in-vitro tests, and rising focus on developing advanced medical devices testing services are some key factors expected to drive global market growth
According to Emergen Research, the global medical devices testing services market size was USD 7.20 billion in 2019 and is expected to reach USD 14.25 billion in 2027 and register a steady revenue CAGR of 9.56% during the forecast period, 2020-2027.
Market Dynamics:
Any instrument, implement, machine, implant, apparatus, or appliance used in hospitals and other healthcare centers is known as medical device. These devices play a crucial role in treating patients. Thus, these devices need to be reliable, compatible, and safe for use. Medical device testing is a process that ensures that these medical devices fulfill all quality-related aspects. The service providers offer outsourcing or in-house testing, inspection, and certifications. These services ensure that the medical device is reliable and safe to use in emergency and clinical settings. Factors such as growing demand for medical device testing services, stringent regulatory norms for safety of devices, improving overall healthcare infrastructure, and increasing research and development activities are expected to drive global market growth during the forecast period.
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However, high cost of medical device testing services, unfavorable reimbursement policies, and lack of skilled technicians are some key factors that can hamper revenue growth of the global market to a certain extent during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Microbiology & Sterility Testing Segment To Register Robust Revenue Growth:
The microbiology & sterility testing segment is expected to register robust revenue CAGR during the forecast period. This can be attributed to rising prevalence of various chronic infections, ongoing research-based activities, and high usage of various tests such as pyrogen and endotoxin tests, anti-microbial activity tests, sterility test, and validation and bio-burden determination to reduce contamination in the production process.
Preclinical Segment to Account for Significantly Larger Revenue Share:
The preclinical segment is expected to account for significantly larger revenue share over the forecast period owing to increasing number of preclinical trials, high usage of medical device testing services in chemistry, microbiology, and biocompatibility tests, and rising investments in R&D investments for preclinical testing of medical devices.
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Asia Pacific to Register Rapid Revenue Growth:
Asia Pacific market is expected to register rapid revenue growth in the global market during the forecast period owing to increasing prevalence of chronic diseases, large population base, and rapid adoption of advanced tools and technologies in the healthcare sector. In addition, rising disposable income, improving healthcare infrastructure and facilities, availability of skilled labor at low wages, and increasing investments in R&D activities in developing advanced testing services are expected to drive Asia Pacific market growth during the forecast period.
Major Companies in the Market 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
- WuXi AppTec Group
For the purpose of this report, 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
- 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
- Bio-Burden Determination
- Biocompatibility Tests
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Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
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