Medical Device Testing Services Market
Outbreak of COVID-19 has triggered demand in the global medical device testing services market in the recent times. However, due to a scarcity of medical equipment, a great bulk of medical equipment being examined is Personal Protective Equipment (PPE). Assessing the reuse of personal protective equipment, such as single-use masks, is part of PPE testing. Most of the facemasks were designed to be single-use items until the outbreak of the pandemic. However, because of their global scarcity, a number of producers are developing ways to test these masks for diverse applications. Sterilization tests, fitment testing, and conformity to original filtration standards are all part of the test.
Furthermore, breakthroughs made in technology such as wearables and artificial intelligence (AI), along with a focus on real-time patient monitoring, have resulted in a complicated medical device ecosystem. In an attempt to acquire marketing permission, these products should go through thorough training beneath accelerated settings. Because conducting these assessments in-house takes a lot of effort, money, and time, the need for medical device testing services is expected to rise. The global medical device testing services market is primarily driven by the government's rising influence, which has resulted in an increase in demand for medical device validation and verification.
Global Medical Device Testing Services Market: Overview
Medical devices are crucial when it comes to a patient’s life. These devices have a great impact on the lives of the patient. To deliver quality and safe experiences to the patients, a thorough test is performed before delivering the devices to the market. The test is performed in two types, first in-house testing, where all the tests are done under the banner of the manufacturer and its team. Second, out-source testing, where the testing contract is given to a third party organization, which performs the test for the manufacturer and updates it with the feedback. As a result of rising necessity quality and better experience to the patients, the global medical device testing services market tends to experience remarkable growth in the future.
A report by Transparency Market Research provides an in-depth analysis of global medical device testing services market. The report offers valuable insights regarding various facets of the market. It covers every corner such as key drivers, novel developments, competitive landscape, and challenges of the global medical device testing services market.
Global Medical Device Testing Services Market: Notable Development
Major players have used various strategies to be ahead of their competitors. Some of the strategies are expansion, new product launch, mergers, agreements, partnerships, acquisition, and many others. Production expansion sowing to the demand-supply gap is one of the major strategies that is adopted by various end-user businesses in medical device testing services market across the globe. Extensive research and development for current and future products to have less cure time and higher bond strength are being done by various businesses in order to achieve the edge over other competitors in global lamination adhesive market.
Some of the major players of global medical device testing services market are Toxikon, Inc., SGS S.A., Eurofins Scientific LLC, Intertek Group plc, WuXi AppTec Group, and Pace Analytical Services. These companies dominate the global medical device testing services market. Some other players like, North American Science Associates, Inc., Sterigenics International LLC, Charles River Laboratories International, Inc.; and American Preclinical Services LLC are also the key companies in this market.
Global Medical Device Testing Services Market: Key Drivers
The global medical device testing market is majorly driven by the series of development in the field of drug-device combination, personalized medicine, and elevated adaption of various portable and wearable medical devices. Technological advancements such as implementation of IoT and AI in various devices is also a key growth parameter for global medical device testing service market. The expansion of multiple businesses in the market to international level is yet again helping the market to grow. Finally, focus on complying with stringent regulations regarding medical devices, manufacturers are investing heavily on testing their devices. This, as a result, acts as a plus for the growth of the global medical device testing service market.
Global Medical Device Testing Services Market: Regional Dominance
Region wise the global medical device testing services market is segmented into North America, Europe, the Middle East, and Africa, Asia Pacific and Latin America. However, North America shall dominate the rest of the region in the forecast period of 2018 to 2026. The region shows potentials for significant growth as a result of strengthening of regulatory requirements for safety and quality of medical devices. Also, the growing demand minimally invasive technologies coupled with the presence of the key medical device manufacturers and testing service providers in the region.