London, January 14, 2021 (GLOBE NEWSWIRE) – In its latest release, with the title “Medical Equipment Test Market by Type of Service (Test and Certification) Location, Technology (Active Implant, Medical Functional, In-Vitro Diagnostic, Ophthalmic, Orthopedic and Dental, Vascular), Equipment Class, and Geography – Global Forecast to 2027 ”, Meticulous Research® says the medical device testing market is expected to reach $ 12.5 billion by 2027, at a CAGR of 4.7% in the projected period of 2020 to 2027.
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Medical appliance testing is the process of demonstrating that the appliance performs reliably and safely. It is a crucial step in transforming innovative design into a reliable and marketable product. This is a standard procedure performed by government-certified organizations to determine whether a medical device can meet the usual safety and performance standards.
Growth in this market is largely driven by the growing need for medical device testing and certification and strict government regulations and standards across medical devices and medical device technologies. In addition, the growing medical devices industry in emerging countries and the integration of mobile and medical devices offer opportunities for the growth of this market. However, dynamic regulations / standards across sectors and a lack of testing and skilled facilities can hinder market growth.
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To provide effective analysis, Meticulous Research® has segmented this market on the basis of service type (test, certification), detection type (internal, external), technology (active implant medical device, active medical device, inactive medical device, in-vitro diagnostic medical device, ophthalmic medical device, orthopedic and dental medical device, vascular medical device, and others), machine class (class-1, class-2, and class- 3), and geography.
In terms of regions, North America was ordering the largest share of the global medical device testing market in 2020 due to a greater focus on medical device quality and the presence of a large number of medical device companies. In the North American region, the U.S. was ordering the largest share of the North American medical device testing market in 2020. This can be attributed to the advanced healthcare infrastructure. In addition, an increase in an aging population, a higher rate of chronic diseases, and advances in digital technologies are driving the growth of the medical device testing market in this country.
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By type of service, the testing services sector commanded the largest share of the total medical device testing market in 2020. The large proportion of this segment is due to the high demand for quality and safety products and strong recommendations from regulatory authorities to ensure the safety, quality, and effectiveness of products. However, the certification services sector at the CAGR is expected to grow fastest in the forecast period, due to the growing number of specific standards by governments and international consistency centers. As the medical device market continues to expand, consumers are becoming more inclined towards safe, reliable and eco-friendly products proven by certifications.
Based on technology, the in-vitro diagnostic sector accounted for the largest share of the total medical device testing market in 2020. The market has been seeing rapid growth on its own. guided by technological advances, better monitoring tools, better handling analysis, and more access to over-the-counter tests. In addition, the active implant medical device segment is expected to grow at the highest CAGR in the forecast period.
The report provides competitive financial information, growth strategies, product charts, and geographic presence of some of the key players operating in this market, including SGS USA (Switzerland), Bureau Veritas SA (France), Intertek Group Plc. (UK), Dekra SE (Germany), TÜV SÜD (Germany), TÜV Rheinland Ag Group (US), Eurofins Scientific SE (Luxembourg), British Standards Institution Group (BSI) (UK), Element Materials Technology Ltd . (UK), UL LLC (US), Pace Analytical Services, LLC (Germany), North American Science Associates, Inc. (NAMSA) (US), Medistri SA (Switzerland), and Avomeen Analytical Services (US), among others.
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Scope of the report:
Medical device test market by type of service
- Test
- Physical Test
- Electrical Safety Test
- Operational Safety Test
- EMC test
- Environmental Testing
- Others
- Physical Test
- Chemical / Biological Test
- Biological Assessment & Biocompatibility Test
- Biological, Physical & Chemical Test
- Cybersecurity test
- Certificate
Medical Device Test Market By Source Type
Technological Medical Device Testing Market
- Active Implant Medical Tool
- Active Medical Tool
- Inactive Medical Device
- In-vitro Diagnostic Medical Device
- Ophthalmic Medical Device
- Orthopedic and Dental Medical Instrument
- Vascular Medical Device
- Others
Medical device test market by device class
- Class tools l
- Class ll tools
- Class lll tools
Geography Medical Equipment Test Market
- North America
- Europe
- RA
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Latin America
- Middle East and Africa
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