This Medical Device Testing market research report explores the key parameters for Device Testing industry namely market analysis, market definition, market segmentation, key developments in the market, competitive analysis, and research methodology. This report gives estimations of Compound Annual Growth Rate (CAGR) in % value for the forecasted period that will assist client to take decision based on futuristic chart. The report defines CAGR value fluctuations during the forecast period of 2019-2026 for the market. For obtaining in depth market report, request an analyst call or drop down an enquiry at any time.
The global medical device testing market is expected to reach USD 1,396.8 million by 2025, from USD 828.9 million in 2017, growing at a CAGR of 6.7% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025 (Updated values are listed in sample report).
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This market report defines the market trends and forecast the upcoming opportunities and threats of the medical device testing market in the next 8 years. Medical devices are the most important and powerful tools in the field of healthcare. These apparatus enable people to manage their health and improve the quality of life of patients worldwide. Various companies and healthcare institutes focus on the maintenance and testing of the medical equipment for better results. The need and efficiency of medical devices steered the companies into the surveillance to improve the understanding of medical device safety and effectiveness throughout the product life cycle, for instance the China Food and Drug Administration (CFDA) may soon launch a two-track testing pathway for medical devices.
To provide market definition, Medical Device Testing report neatly researches market driving factors and market restraints. It aids in estimating the demand of particular product in the market with respect to several aspects. In the same way, market segmentation is another major parameter that categories the market depending upon application, vertical, deployment model, end-user, and geography etc. To perform competitive analysis, a range of strategies of the major players in the market have been believed that include new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others which lead to an ascend of their footprints in the market. The Medical Device Testing report provides market shares at global level mainly for Europe, North America, Asia Pacific and South America.
Major Market Drivers and Restraints:
- Rising need of validation and verification (V&V) for medical devices.
- Burden of severe government regulations and standards in medical devices.
- Integration of mobile and medical devices.
- Barriers to local medical device manufacturers.
Major Market Competitors/Players: Global Medical Device Testing Market
Some of the major players operating in the global medical device testing market are SGS, Bureau Veritas, Intertek, TUV SUD, Dekra, BSI, TUV Rheinland, UL LLC, Eurofins Scientific, ASTM, Element Material Technology, Envigo, Avomeen Analytical Services, Gateway Analytical, Medistri SA, North American Science Associates (NAMSA), Pace Analytical Services, Wuxi Apptec, Toxikon, Charles River Laboratories, Medical Device Testing Services, Source Bioscience, NSF International, BDC Laboratories, among others.
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The global medical device testing is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of medical device testing market for global, Europe, North America, Asia Pacific and South America.
Market Segmentation: Global Medical Device Testing Market
- The global medical device testing market is segmented on the basis of technology, sourcing type, and service type.
- On the basis of technology, the global medical device testing is segmented into 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. Others are further sub segmented into mobile devices, medical devices with ancillary medicinal substances and medical devices utilizing animal origin.
- Based on segment, sourcing type the global medical device testing is segmented into in-house and outsourced.
- On the basis of service type, the global medical device testing is segmented into testing services, inspection services, certification services and others.
- Based on geography, the global medical device testing report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
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