Global Medical Device Testing Services Market Size, Share, Growth Analysis, By Services(Biocompatibility Tests, Chemistry Test), By Phase(Preclinical, and Clinical) - Industry Forecast 2024-2031

Report ID: SQMIG35A2432 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 67 | Figures: 65

Global Medical Device Testing Services Market News

In May 2022, Labcorp introduced a novel at-home collection kit through Labcorp OnDemand. This innovative solution gauges hemoglobin A1c (HbA1c) levels from a provided blood sample, aiming to identify potential diabetes or prediabetes risks in individuals.

In May 2022, Sterigenics announced the initiation of processing operations at its expanded electron beam facility situated in Indiana. The facility's electron beam accelerator is employed for sterilizing medical and pharmaceutical products. By utilizing electron beam irradiation, the facility effectively eliminates microorganisms and potential contaminants from these products, ensuring their safety for utilization in medical environments.

In January 2023, Eurofins Scientific declared the acquisition of resources for establishing a cutting-edge laboratory campus in Hyderabad (Genome Valley). The campus's primary objective is to support prominent global pharmaceutical clients, as well as emerging biotech enterprises, across a range of domains including analytical R&D, bioanalytical services, in-vivo pharmacology, synthetic organic chemistry, formulation R&D, and safety toxicology.

In February 2023, The company Eurofins Viracor LLC, which is a division of Eurofins Scientific, announced the availability of a novel test that will assess the efficacy and durability of Chimeric Antigen Receptor T-Cell (CAR-T) therapy in people with B cell lymphomas and pre-B cell acute lymphoblastic leukaemia. CAR-T therapy, a cutting-edge type of immunotherapy that employs genetically modified T cells to target cancer cells, has shown encouraging results for a number of cancer types.

In June 2023, NAMSA established a collaborative partnership with Terumo Aortic to aid in the market introduction of Terumo Aortic's advanced aortic disease solutions. Under this strategic arrangement, NAMSA aimed to provide Terumo Aortic with access to clinical specialists and its proficient teams specializing in cardiovascular matters.

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Medical Device Testing Services Market size was valued at USD 7.43 billion in 2021 and is poised to grow from USD 8.1 billion in 2022 to USD 16.14 billion by 2030, growing at a CAGR of 9.0% in the forecast period (2023-2030).

The global medical device testing services market is characterized by intense competition among key players offering comprehensive testing solutions to ensure regulatory compliance, safety, and quality of medical devices. Prominent companies such as SGS SA, Eurofins Scientific, Intertek Group plc, and TÜV SÜD AG dominate the market with their extensive expertise in various testing domains including biocompatibility, sterility, electrical safety, and performance testing. These players focus on expanding their service portfolios, global presence, and strategic collaborations to cater to the evolving regulatory landscape and increasing demand for reliable testing services. The market also witnesses the emergence of specialized niche players catering to specific device segments. As innovation continues, competition in the medical device testing services market is anticipated to remain fierce, driving advancements and quality assurance across the industry. 'SGS SA - Switzerland', 'Toxikon, Inc - United States', 'American Preclinical Services - United States', 'Sterigenics International LLC - United States', 'River Laboratories International Inc - United States', 'Medical Device Testing Services - United States', 'North America Science Associates Inc - United States', 'Eurofins Scientific - Luxembourg', 'Pace Analytical Services LLC - United States', 'Intertek Group Plc - United Kingdom'

The increasing stringency of regulatory standards and requirements for medical devices has driven the demand for comprehensive testing services. Manufacturers are seeking to ensure their products meet safety and efficacy criteria to gain regulatory approvals and market acceptance.

With increasing scrutiny from regulatory bodies, such as the FDA and European Medicines Agency, medical device manufacturers are placing a higher importance on ensuring their products meet stringent quality and safety standards. This has led to a growing demand for comprehensive testing services to validate the performance, safety, and effectiveness of medical devices. Companies offering testing services are expanding their capabilities to cover a wide range of regulatory requirements, including pre-market and post-market testing, to help manufacturers navigate complex regulatory landscapes.

The global medical device testing services market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. In the medical device testing services market, North America stands as the dominant region. With a mature healthcare infrastructure, stringent regulatory standards, and a strong emphasis on patient safety, North America has a substantial share in the market. The region's well-established medical device industry and regulatory bodies drive the demand for comprehensive testing services.

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Global Medical Device Testing Services Market Size, Share, Growth Analysis, By Services(Biocompatibility Tests, Chemistry Test), By Phase(Preclinical, and Clinical) - Industry Forecast 2024-2031

Global Medical Device Testing Services Market News

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