Key Drivers and Opportunities in the Medical Device Testing Services Market: Insights into Trends and Growth
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What Long-Term Growth Rate is Expected for the Medical Device Testing Services Market Between 2025 and 2034?
The market for medical device testing services has witnessed expedited expansion in the last few years. The market size is projected to leap from $9.25 billion in 2024 to $10.21 billion in 2025, with a compound annual growth rate (CAGR) of 10.4%. Factors such as industry amalgamation, stringent quality assurance norms, heightened emphasis on patient safety, the global reach of medical devices, and their augmenting complexity have contributed to the growth during the historical period.
Expectations indicate that the medical device testing services market will experience substantial growth in the forthcoming years, reaching $14.22 billion by 2029, with an 8.6% compound annual growth rate (CAGR). Factors promoting growth during this period include the accelerated expansion in the medical device industry, emerging markets and regulatory alterations, the emphasis on personalized medicine, cybersecurity issues, and the transition towards value-based healthcare. Significant trends during the forecast period will encompass the implementation of sustainable testing procedures, the integration of regulatory consulting services, the adoption of personalized medicine and corresponding testing, advancements in testing machines and technology, and the broadening of in vitro diagnostic (IVD) testing services.
How Are the key drivers expanding the growth of the Medical Device Testing Services Market?
The escalation of chronic health conditions is anticipated to boost the expansion of the medical device testing services market in the near future. Chronic health conditions are often long-lasting, persisting for a year or more, and can be attributed to factors such as an aging population, poor lifestyle choices, and environmental influences. These testing services for medical devices play a critical role in managing chronic diseases by aiding remote patient monitoring (RPM) and the instant detection of health alterations, thus ensuring the safety, efficiency, dependability, and quality of the devices. This, in turn, enhances patient results and their overall quality of life. For example, as per the National Library of Medicine, a medical library based in the US, the estimated count of individuals suffering from at least one chronic disease is predicted to nearly double in the future, soaring by 99.5% from 71.522 million in 2020 to 142.66 million by the year 2050. Hence, the increasing incidence of chronic diseases is stimulating the growth of the medical device testing services market.
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What Are the Key Firms That Are Driving Transformation in the Medical Device Testing Services Market?
Major companies operating in the medical device testing services market are Laboratory Corporation of America Holdings, Eurofins Scientific SE, SGS SA, Bureau Veritas SA, WuXiAppTec Group, Steris plc, Sartorius AG, Charles River Laboratories International Inc., Altran Corporation, TUV SUD AG, Element Minnetonka, Underwriters Laboratories LLC, Intertek Group Plc., QTS Analytical Limited, Pace Analytical Services LLC., Sterigenics International LLC, Nelson Laboratories LLC, Exova Group Limited, Mérieux NutriSciences Corporation, American Preclinical Services LLC, Toxikon Corporation, North American Science Associates Inc., Avomeen Analytical Services LLC, Element Materials Technology Group Limited, Sionic Advisors LLC, Medical Engineering Technologies Ltd.
What Current Trends in the Medical Device Testing Services Market Should Industry Players Pay Attention To?
Leading businesses in the medical device testing services market are focusing their efforts on embracing cutting-edge advancements, including fresh medical device testing offerings, to provide holistic testing solutions. These services pertain to various tests administered by specialist organizations to confirm the efficacy, safety, and regulatory compliance of medical devices as per national and international standards. For example, in October 2023, UL Solutions, a US-based firm offering medical testing, inspection, and certification services, unveiled new medical device testing services at its Rochester Hills lab. These services encompass compliance training for medical device manufacturers, usability testing, and independent verification and validation. This aids in the evolution of the local medical device industry and assists manufacturers to enhance the safety, security, usability, and cross-functionality of their devices. Moreover, it caters to third-party verification and validation, cybersecurity services, audits, usability testing, and compliance instruction for medical device makers, all the while mitigating potential risks like quality, safety, and cybersecurity threats, maintaining the energy of innovation, and ensuring user protection.
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How Are Market Segments in the Medical Device Testing Services Industry Positioned for Long-Term Growth?
The medical device testing services market covered in this report is segmented –
1) By Product: Active Implant Medical Device, Active Medical Device, Non-Active Medical Device, In-Vitro Diagnostics Medical Device, Ophthalmic Medical Device, Orthopedic And Dental Medical Device, Vascular Medical Device, Other Products
2) By Service: Biocompatibility Tests, Chemistry Test, Microbiology And Sterility Test, Package Validation
3) By Phase: Preclinical, Clinical
Subsegments:
1) By Active Implant Medical Device: Pacemakers, Implantable Defibrillators, Neurostimulators
2) By Active Medical Device: Infusion Pumps, Diagnostic Equipment, Therapeutic Equipment
3) By Non-Active Medical Device: Surgical Instruments, Patient Monitoring Equipment, Bandages And Dressings
4) By In-Vitro Diagnostics Medical Device: Blood Test Kits, Urine Test Strips, Molecular Diagnostic Devices
5) By Ophthalmic Medical Device: Contact Lenses, Surgical Instruments For Eye Surgery, Diagnostic Equipment For Eye Care
6) By Orthopedic And Dental Medical Device: Joint Replacement Implants, Orthotic Devices, Dental Crowns And Bridges
7) By Vascular Medical Device: Stents, Catheters, Vascular Grafts
8) By Other Products: Miscellaneous Medical Devices, Custom Medical Devices, Combination Products
What Regions Are Driving Expansion in the Medical Device Testing Services Market?
Asia-Pacific was the largest region in the medical device testing services market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the medical device testing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Key Parameters Define the Medical Device Testing Services Market’s Scope?
Medical device testing services refer to the processes and procedures conducted to evaluate the safety, efficacy, reliability, and quality of medical devices. These services are crucial in ensuring that medical devices meet regulatory standards and requirements before they can be marketed and used for clinical purposes.
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