Global medical device testing market size to register 4.8% CAGR through 2027

Selbyville, Delaware, Sept. 29, 2020 (GLOBE NEWSWIRE) — Worldwide medical device testing market garnered a valuation of USD 8.9 billion in 2019 and is projected to expand with a CAGR of 4.8% during 2020-2027. As per the report findings, rising focus towards better safety and patient care, growing necessity for validation & verification of medical devices, and stringent compliance norms are catalysing the industry growth.Medical devices are liable to strict regulatory requirements to ensure the health and effectiveness of medical equipment. It is mandatory for each product to adhere with national and international requisites before being released into the market, which is hence projected to amplify the demand for medical device testing.Despite the positive global medical device testing market outlook, long waiting periods for overseas qualification tests remain a major challenge for the industry growth.Request Sample copy of this Report @ https://www.marketstudyreport.com/request-a-sample/2895838/Regional outlook:Global medical device testing market size is defined through several fragments, namely, North America, Latin America, Europe, Asia Pacific, and Rest of the World. Trusted records cite that North America currently accounts for majority market share, driven by strict quality & safety standards established by legal bodies.On the other hand, Asia Pacific market size is slated to grow tremendously over the projected timeline, attributable to factors such as rising consumer cognizance towards importance of certification and increasing healthcare accessibility due to rising per capita income among the middle-class population.Competitive landscape:Prominent players influencing the global medical device testing market trends are Envigo International Holdings Inc., Elements Material Technology, TÜV Rheinland Group, BSI Group, DEKRA, TÜV SÜD, and Intertek Group plc among others.These industry giants are reportedly leveraging strategies like new product launches, mergers, acquisitions, partnerships, investments, and funding to stay ahead of the competition. For instance, in October 2019, TÜV SÜD entered into an MOU with the Center for Additive Manufacturing, National University of Singapore, to accelerate R&D of 3D printing biomedical devices for clinical trials.Whereas, Intertek, in June 2020, extended its personal protective equipment portfolio with the pre-certification testing of N95 respirators by the National Institute for Occupational Safety and Health (NIOSH). Moreover, Intertek has restructured its strategies to serve consumers and the global community amid the COVID-19 pandemic.To access a sample copy or view this report in detail along with the table of contents, please click the link below:https://www.marketstudyreport.com/reports/global-medical-device-testing-market-size-researchGlobal Medical Device Testing Market Service Sub-Segments (Revenue, USD Billion, 2017-2027)Testing servicesInspection servicesCertification servicesGlobal Medical Device Testing Market Sourcing Sub-Segments (Revenue, USD Billion, 2017-2027)In-houseOutsourceGlobal Medical Device Testing Market Device Class Sub-Segments (Revenue, USD Billion, 2017-2027)Class IClass IIClass III  
                                                                                             Global Medical Device Testing Market Device Technology Sub-Segments (Revenue, USD Billion, 2017-2027)Active medical deviceActive implant medical deviceNon-active medical deviceOphthalmic medical deviceIn-vitro diagnostic medical deviceOrthopaedic and dental medical deviceVascular medical deviceOtherGlobal Medical Device Testing Market Device Regional Bifurcation (Revenue, USD Billion, 2017-2027)North AmericaUnited StatesCanadaEuropeGermanyUnited KingdomFranceItalySpainRest of EuropeAsia PacificIndiaChinaJapanSouth KoreaAustraliaRest of APACLatin AmericaMexicoBrazilRest of the WorldGlobal Medical Device Testing Market Device Company ProfilesEnvigo International Holdings Inc.Elements Material Technology Ltd.TÜV Rheinland GroupBSI GroupDEKRATÜV SÜDIntertek Group plcBureau Veritas GroupEurofins ScientificSGS S.A.Table of Content:Chapter 1. Executive Summary        1.1.         Market Snapshot1.2.         Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)1.2.1.     Medical Device Testing Market, by Region, 2018-2027 (USD Billion)1.2.2.     Medical Device Testing Market, by Service Type, 2018-2027 (USD Billion)1.2.3.     Medical Device Testing Market, by Sourcing, 2018-2027 (USD Billion)1.2.4.     Medical Device Testing Market, by Device Class, 2018-2027 (USD Billion)1.2.5.     Medical Device Testing Market, by Technology, 2018-2027 (USD Billion)1.3.         Key Trends1.4.         Estimation Methodology1.5.         Research AssumptionChapter 2. Global Medical Device Testing Market Definition and Scope2.1.         Objective of the Study2.2.         Market Definition & Scope2.2.1.     Scope of the Study2.2.2.     Industry Evolution2.3.         Years Considered for the Study2.4.         Currency Conversion RatesChapter 3. Global Medical Device Testing Market Dynamics       3.1.         Medical Device Testing Market Impact Analysis (2018-2027)3.1.1.     Market Drivers3.1.2.     Market Challenges3.1.3.     Market OpportunitiesChapter 4. Global Medical Device Testing Market: Industry Analysis4.1.         Porter’s 5 Force Model4.2.         PEST Analysis4.2.1.     Political4.2.2.     Economical4.2.3.     Social4.2.4.     Technological4.3.         Investment Adoption Model4.4.         Analyst Recommendation & ConclusionChapter 5. Global Medical Device Testing Market, by Service Type5.1.         Market Snapshot5.2.         Global Medical Device Testing Market by Service Type, PerService Typeance – Potential Analysis5.3.         Global Medical Device Testing Market Estimates & Forecasts by Service Type 2017-2027 (USD Billion)5.4.         Medical Device Testing Market, Sub Segment Analysis5.4.1.       Testing Services5.4.2.     Inspection Services5.4.3.     Certification ServicesChapter 6. Global Medical Device Testing Market, by Sourcing         6.1.         Market Snapshot6.2.         Global Medical Device Testing Market by Sourcing, PerService Typeance – Potential Analysis6.3.         Global Medical Device Testing Market Estimates & Forecasts by Sourcing 2017-2027 (USD Billion)6.4.         Medical Device Testing Market, Sub Segment Analysis6.4.1.     In-house6.4.2.     OutsourcedChapter 7. Global Medical Device Testing Market, by Device Class         7.1.         Market Snapshot7.2.         Global Medical Device Testing Market by Device Class, PerService Typeance – Potential Analysis7.3.         Global Medical Device Testing Market Estimates & Forecasts by Device Class2017-2027 (USD Billion)7.4.         Medical Device Testing Market, Sub Segment AnalysisChapter 8. Global Medical Device Testing Market, by Technology         8.1.         Market Snapshot8.2.         Global Medical Device Testing Market by Technology, PerService Typeance – Potential Analysis8.3.         Global Medical Device Testing Market Estimates & Forecasts by Technology 2017-2027 (USD Billion)8.4.         Medical Device Testing Market, Sub Segment Analysis8.4.1.       Active Implant Medical Device8.4.2.     Active Medical Device8.4.3.     Non-Active Medical Device8.4.4.     In-vitro Diagnostic Medical Device8.4.5.     Ophthalmic Medical Device8.4.6.     Orthopaedic and Dental Medical Device8.4.7.     Vascular Medical DeviceChapter 9. Global Medical Device Testing Market, Regional AnalysisRelated Report:Medical Electronics Market Size, Application Potential, Competitive Market Share & Forecast, 2019 – 2025Medical Electronics Market will exceed USD 169 billion by 2025, as per a new research report. Increasing demand for minimally invasive surgeries will render significant positive impact on medical electronics industry growth. Geriatric population generally prefers minimally invasive surgeries as it involve less complications. According to United Nations, the global geriatric population in 2017 was 962 million and majority of the geriatric population suffers from chronic ailments. This scenario proves beneficial for the industry growth as it elevates the demand for recently developed medical electronic devices utilized in minimally invasive surgeries.About US:Market Study Report, LLC. is a hub for market intelligence products and services.We streamline the purchase of your market research reports and services through a single integrated platform by bringing all the major publishers and their services at one place.Our customers partner with Market Study Report, LLC. to ease their search and evaluation of market intelligence products and services and in turn focus on their company’s core activities.If you are looking for research reports on global or regional markets, competitive information, emerging markets and trends or just looking to stay on top of the curve then Market Study Report, LLC. is the platform that can help you in achieving any of these objectives.Contact Us:
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