22 July 2020
Visiongain has launched a new report Medical Device Testing Services Market Report 2020-2030: Forecasts by Service (Biocompatibility Test, Chemistry Test, Microbiology & Sterility Testing, and Package Validation), by Phase (Preclinical, Clinical) and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa). Including Forecasts by Major Developed Countries and Developing Countries, Plus Profiles of Leading Companies.
Medical devices are critical since they have a direct impact on human lives. To deliver safe and effective healthcare services to patients, the medical device manufacturers must follow testing as well as verification and validation practices that ensure quality and reliability of medical devices. All medical devices have a distinctive and comprehensive set of testing requirements imposed by the U.S. Food and Drug Administration (FDA), China Food and Drug Administration (CFDA), EU Notified Bodies, and other governing bodies that need to be fulfilled before entering the marketplace. Development of personalized medicine, drug device combination, and wearables, coupled with increasing focus on real-time patient monitoring, has resulted in a complex medical devices ecosystem. To match these parameters, devices now have to undergo stringent testing in accelerated conditions to obtain marketing approval.
There is a widespread entry of tech-giants and software companies into the healthcare sector. These companies are integrating their expertise in advanced technologies, such as artificial intelligence (AI), and machine learning algorithms, into the medical ecosystem. Moreover, with the rise in reports of adverse events and the resultant, product recalls, medical devices testing services is expected to grow multi-fold in the coming years.
The Visiongain report analyst commented “recent innovations in the development of novel test methods for sterilization, irritation, and cytotoxicity are likely to propel the market during the forecast period. Significant rise in preclinical spending is a recent trend among pharmaceutical and medical device companies, is further expected to contribute to market growth.”
Biocompatibility testing services for medical devices account for a substantial share in the market owing to the lower cost of these tests. Development of novel in-vitro methods is anticipated to replace some of the older in-vivo tests, thereby reducing the cost of biocompatibility tests.
The report covers a detailed competitive outlook that includes market share and company profiles of key players operating in the global market. Key players profiled in the report include Toxikon, Inc.; SGS S.A.; Eurofins Scientific, LLC; Intertek Group plc; WuXi AppTec Group; Pace Analytical Services; North American Science Associates, Inc.; Sterigenics International LLC; Charles River Laboratories International, Inc.; and American Preclinical Services LLC.
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