Dublin, March 20, 2019 (GLOBE NEWSWIRE) -- The "Medical Device Testing Services Market Size, Share & Trends Analysis Report By Phase (Preclinical, Clinical), By Service (Chemistry, Biocompatibility, Microbiology & Sterility Testing), By Region, And Segment Forecasts, 2018 - 2025" report has been added to ResearchAndMarkets.com's offering.
The global medical device testing services market size is expected to reach USD 13.4 billion by 2025
The market is estimated to expand at a CAGR of 11.5% during the forecast period. Increasing spending in preclinical phase of medical devices coupled with growing trend of outsourcing the services is expected to drive the market growth.
Increasing demand for in-vitro tests is also expected to drive the market as many CROs are developing novel in-vitro methods to replace the traditional methods that require animal testing. Significant advancement in the development and standardization of such novel test methods, particularly for sensitization, cytotoxicity, and irritation, is also likely to boost the market development. There has been a significant rise in preclinical spending for both pharmaceutical and medical devices.
This trend is expected to contribute to the market growth over the next few years. Stringent regulatory standards pertaining to user safety have also fueled the trend of outsourcing medical device testing services. Increasing demand for quality products is expected to further propel the demand by medical device companies, boosting the market growth. There has been a significant consolidation in the CRO space in recent years.
For instance, in October 2017, Sterigenics International LLC acquired Toxikon Europe N.V., the European division of Toxikon Corp., to strengthen its preclinical service portfolio for pharmaceutical and medical device companies.
Further key findings from the study suggest:
- The biocompatibility testing segment is anticipated to expand at a CAGR of 11.3% from 2018 to 2025
- In terms of service, chemistry test segment is expected to witness the fastest growth by 2025
- In terms of development phase, preclinical testing held the largest market share as of 2017 and is expected to continue its dominance
- Asia Pacific is expected to be the dominant regional medical device testing services market over the forecast period
- Europe and North America held lucrative shares in 2017 owing to presence of well-established manufacturing infrastructure for high-end and complex medical devices
Key Topics Covered:
Chapter 1 Research Methodology & Scope
1.1 Information procurement
1.2 Data Analysis
1.3 Region Wise Market Calculation
1.3.1 Region Wise Market: Base Estimates
1.3.2 Global Market: CAGR Calculation
1.4 List of Secondary Sources
Chapter 2 Executive Summary
2.1 Market Snapshot
Chapter 3 Market Variables, Trends & Scope
3.1 Market Segmentation
3.2 Market Size and Growth Prospects
3.3 Medical Device Testing Services Market - Key Market Driver Analysis
3.3.1 Complexity in product design
3.3.2 Intensifying competition
3.3.3 Increasing number of small medical device lacking in-house testing capabilities
3.3.4 Strict Approval Norms
3.4 Medical Device Testing Services - Key Market Restraint Analysis
3.4.1 Legal and Regulatory Issues
3.4.2 Delays in Contractual Obligations
3.5 Key Opportunities Prioritized
3.6 Industry Analysis Porter's
3.7 Medical Device Testing Services PESTEL Analysis
Chapter 4 Medical Device Testing Services Market: Service Segment Estimates & Trend Analysis
4.1 Medical device testing services market: Service movement analysis
4.1.1 Biocompatibility Test
4.1.2 Chemistry Test
4.1.3 Microbiology & Sterility Testing
4.1.3.3 Bio-Burden Determination
4.1.3.4 Pyrogen and Endotoxin Testing
4.1.3.5 Sterility Test and Validation
4.1.3.6 Anti-microbial Activity Testing
4.1.3.7 Other Services
4.1.4 Package Validation
Chapter 5 Medical Device Testing Services Market: Phase Segment Estimates & Trend Analysis
5.1 Medical device testing services market: Phase movement analysis
5.1.1 Preclinical
5.1.1.1 Preclinical market estimates & forecasts, 2014 - 2025 (USD Million)
5.1.1.2 Preclinical market estimates & forecasts, 2014 - 2025 (Units)
5.1.1.3 Antimicrobial Wound Dressings
5.1.1.4 Medical Coatings
5.1.1.5 Others
5.1.2 Clinical
Chapter 6 Medical Device Testing Services Market: Regional Estimates & Trend Analysis
6.1 Medical Device Testing Services Market Share, by Region, 2016 & 2025
Chapter 7 Competitive Landscape
7.1 Strategy framework
7.2 Company Profiles
- SGS SA
- Toxikon, Inc.
- Eurofins Scientific
- Pace Analytical Services LLC.
- Intertek Group plc
- Wuxi AppTec.
- North American Science Associates
- TV SD AG
- American Preclinical Services
- Sterigenics International LLC
- Charles River Laboratories International, Inc.
- Medical Device Testing Services
For more information about this report visit https://www.researchandmarkets.com/research/z7d4w3/global_medical?w=12
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