The global medical device testing services market size is expected to reach USD 14. 6 billion by 2027, according to a new report by Grand View Research, Inc., registering a 9.4% CAGR over the forecast period. Growing trend of clinical outsourcing is one of the major factors contributing to market growth. Recent advancements in the development of novel test methods for sterilization, irritation, and cytotoxicity are likely to propel the market during the forecast period.
Significant rise in preclinical spending is a recent trend among pharmaceutical and medical device companies, which is expected to significantly contribute to market growth. As per a survey carried out by the International Federation of Pharmaceutical Manufacturers & Associations in 2017, around USD 149.8 billion is spend on preclinical trials every year.
With modern medical devices offering a host of complex functions, the need for appropriate tests to check the compliance of the device with regulatory requirements is becoming vital. In order to meet the requirement of enhanced accuracy, ease of use, and durability, medical devices need to undergo extensive tests. This is expected to deliver competitive advantage to manufacturers.
Rising pressure to contain overall device development costs and avoid the risk of product recall is also compelling manufacturers to outsource testing activities to third-party entities. This trend is expected to contribute to market growth over the forecast period.
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Further key findings from the report suggest:
By service, biocompatibility tests held the largest share in the global market in 2019 owing to increasing demand for in-vitro testing
Based on phase, the preclinical segment accounted for the dominant share in 2019 and is expected to retain its lead throughout the forecast period
North America dominated the global medical device testing services market in 2019, fueled by increasing demand for new technologies and presence of advanced healthcare infrastructure
Asia Pacific is projected to witness the fastest growth during the forecast period owing to increasing number of diabetic patients in this region
Some of the key market players are Eurofins Scientific, LLC; WuXi AppTec Group; North American Science Associates, Inc.; Sterigenics International LLC; and SGS S.A. Most players are focusing on new product development and launch in order to maintain their position in market.
Grand View Research has segmented the global medical device testing services market based on service, phase, and region:
Medical Device Testing Service Outlook (Revenue, USD Million, 2016 - 2027)
Microbiology & Sterility Testing
Pyrogen and Endotoxin Testing
Sterility Test and Validation
Anti-microbial Activity Testing
Medical Device Testing Services Phase Outlook (Revenue, USD Million, 2016 - 2027)
Antimicrobial Wound Dressings
Medical Device Testing Services Regional Outlook (Revenue, USD Million, 2016 - 2027)
Middle East & Africa
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