Medical Device Testing Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Medical Device Testing by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

Learn More On The Medical Device Testing Market:

https://www.thebusinessresearchcompany.com/report/medical-device-testing-global-market-report

According to The Business Research Company’s Medical Device Testing, The medical device testing market size has grown strongly in recent years. It will grow from $9.21 billion in 2023 to $9.83 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%.  The  growth in the historic period can be attributed to stringent regulatory requirements, increasing complexity of medical devices, globalization of medical device industry, rise in chronic diseases, focus on patient safety..

The medical device testing market size is expected to see strong growth in the next few years. It will grow to $12.33 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%.  The growth in the forecast period can be attributed to advancements in medical technology, increased outsourcing of testing services, rapid growth of personalized medicine, expanding regulatory landscape, focus on cybersecurity for medical devices.. Major trends in the forecast period include enhanced regulatory compliance testing, expansion of biocompatibility testing methods, application of simulation and modeling techniques, increased demand for sterility testing, introduction of testing services for connected devices..

A rise in medical device recalls is driving the medical device testing market forward. A device recall is a process by which the manufacturer or distributor of the device takes corrective action to remove or correct the problem in the medical device. Medical device testing is used by medical device manufacturers in identifying the potential safety issues associate with devices and can help determine whether a medical recall is necessary to ensure patient safety and the effectiveness of devices and helps in improving the quality of the product to avoid medical recalls. For instance, in 2022, according to Sedgwick, a US-based IT services management company, there were 719 medical recalls in Q2 2022, up by 11% from Q1 2022. Therefore, the increasing number of medical device recalls is driving the medical device testing market.

Get A Free Sample Of The Report (Includes Graphs And Tables):

https://www.thebusinessresearchcompany.com/sample.aspx?id=9981&type=smp

The medical device testing market covered in this report is segmented –

1) By Testing Type: Physical Testing, Chemical or Biological Testing, Cybersecurity Testing, Microbiology And Sterility Testing, Other Testing Type

2) By Device Class: Class I, Class II, Class III

3) By Sourcing Type: In-House, Outsourced

4) By Service Type: Testing Services, Inspection Services, Certification Services

5) By End-User: Hospital, Research Center, Homecare Clinics, Other End-User

Product innovations are a key trend gaining popularity in the medical device testing market. Major companies in the market are introducing innovative products to sustain their position in the market. For instance, in February 2022, Nelson Labs, a US-based laboratory testing services provider, launched Nelson Labs Mark, a product testing verification program that authenticates test reports and offers trustworthy data on product performance. The new product is a medical device testing and verification program. The uniqueness of this program is that it includes two-factor authentication for the consumer, which they can use to confirm the legitimacy of tests. The testing is initially intended for masks and respirator devices.

The medical device testing market report table of contents includes:

 

1. Executive Summary
2. Medical Device Testing Market Characteristics
3. Medical Device Testing Market Trends And Strategies
4. Medical Device Testing Market – Macro Economic Scenario
5. Global Medical Device Testing Market Size and Growth

.

.

.

31. Global Medical Device Testing Market Competitive Benchmarking
32. Global Medical Device Testing Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Medical Device Testing Market
34. Medical Device Testing Market Future Outlook and Potential Analysis
35. Appendix

Top Major Players

• Intertek Group plc
• SGS SA
• Bureau Veritas Group
• TUV SUD AG
• TUV Rheinland Group

Contact Us:

The Business Research Company

Europe: +44 207 1930 708

Asia: +91 88972 63534

Americas: +1 315 623 0293

Email: info@tbrc.info

 

Follow Us On:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

Twitter: https://twitter.com/tbrc_info  

Facebook: https://www.facebook.com/TheBusinessResearchCompany

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Blog: https://blog.tbrc.info/

Healthcare Blog: https://healthcareresearchreports.com/  

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model