Global Medical Device Testing Market to Reach US$ 21.1 Billion by 2032, Bolstered by Stringent Regulatory Requirements

January 31, 2022 | Healthcare

The latest report by IMARC Group, titled “Medical Device Testing Market Report by Service (Testing Services, Inspection Services, and Others), Type (In-House, Outsourced), Testing Type (Biocompatibility Testing, Chemistry Testing, Bio-Burden Determination, Anti-Microbial Activity and Sterility Testing, and Others), Device Class (Class I, Class II, Class III), Device Type (Implantable Medical Devices, Non-Active Medical Devices, In-Vitro Diagnostic Medical Devices, Ophthalmic Medical Devices, and Others), and Region 2024-2032,” finds that the global medical device testing market reached a value of US$ 12.5 Billion in 2023. Medical device testing refers to the inspection of the design and production structure of active and non-active medical equipment. It is essential for ensuring the safety of devices that are used in surgical procedures, home health care, and clinical and medical office settings. The testing process involves biocompatibility, chemistry, microbiology and sterility testing, package validation, electrical, mechanical and functional safety assessments, and package testing. It is generally provided by a third party under a recognized auditing organization.

Global Medical Device Testing Market Trends: 

The market is primarily driven by the significant growth of the medical industry. The rise in preclinical spending by pharmaceutical and medical device companies in the verification and validation of healthcare devices is also fueling the growth of the market. Medical device testing is an intrinsic part of the developmental phase of a product as it examines compliance with specific requirements. The growing need for appropriate tests to check the regulatory requirements in modern equipment that provide a host of complex functions is also positively influencing the market growth. With the advent of the COVID-19 pandemic across the globe, key manufacturers are investing in automated quality assurance, which forms an integral part of the manufacturing processes. Moreover, factors such as developments in the field of drug-device combination, personalized medicine, and increased adoption of portable and wearable medical devices are also creating a positive outlook for the market. Furthermore, technological advancements, such as the integration of the Internet of Things (IoT) and artificial intelligence (AI) with various medical devices, are acting as growth inducing factors for the market. Looking forward, the market is expected to reach a value of US$ 21.1 Billion by 2032, exhibiting a CAGR of 5.8% during 2024-2032.

Market Summary: 

  • Based on the service, the market has been segmented into testing, inspection, and other services.
  • On the basis of the type, the market has been bifurcated into in-hand and outsourced.
  • The market has been categorized based on the testing type into biocompatibility testing, chemistry testing, bio-burden determination, anti-microbial activity and sterility testing, and others.
  • On the basis of the device class, the market has been segregated into class I, II, and III.
  • Based on the device type, the market has been classified into implantable, non-active, in-vitro diagnostic, ophthalmic, and other medical devices.
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined, with some of the key players being American Preclinical Services LLC, Charles River Laboratories International Inc., Element Materials Technology, Eurofins Scientific LLC, Intertek Group Plc, North American Science Associates Inc., Pace Analytical Services LLC (LAB Holdings Inc.), SGS SA, Sterigenics U.S. LLC (Sotera Health LLC), Toxikon Corporation, TÜV Rheinland Aktiengesellschaft, TÜV SÜD Aktiengesellschaft, and WuXi AppTec.

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Global Medical Device Testing Market to Reach US$ 21.1 Billion by 2032, Bolstered by Stringent Regulatory Requirements
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