The Global Medical Devices Testing Services Market size was valued at USD 7.20 Billion in 2019 and is forecasted to reach USD 14.25 Billion by 2027 at a CAGR of 9.5%.

Vancouver, BC -- (SBWire) -- 12/22/2020 --The global Medical Devices Testing Services Market will be worth USD 14.25 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing demand for testing of medical devices. The increasing need to obtain enhanced accuracy and durability of the medical devices has resulted in the rising adoption of the testing services by pharmaceutical companies. Manufacturers of medical devices are outsourcing the testing services to third-party entities to reduce the increasing product recalls, which is expected to drive the growth of the medical devices testing services market. The presence of stringent regulatory protocols to ensure the safety of the devices is most likely to fuel the demand for the testing services of the medical devices. Increasing demand for in-vitro tests to detect infectious diseases and monitor drug therapies and the overall health condition of the patients is a growing trend in the medical devices testing services Market.

Key participants include SGS S.A., Toxikon, Inc., Intertek Group plc, Pace Analytical Services, Charles River Laboratories International, Inc., American Preclinical Services LLC, North American Science Associates, Inc., Sterigenics International LLC, Eurofins, and WuXi AppTec Group, among others.

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Market Drivers
The increasing incidences of chronic illnesses, primarily due to unhealthy lifestyle habits is forecasted to augment the demand for medical devices testing services. Moreover, the implementation of stringent regulatory protocols to ensure the safety of the devices is anticipated to act as a significant market driver of the industry. The advancement in personalized medicine and the rising adoption of drug-device combination is likely to stimulate the growth further. The increasing incorporation of AI and IoT in medical devices and the growing adoption of wearable and portable medical devices is further boosting the industry growth.

Phase Outlook (Revenue, USD Billion; 2017-2027)
- Clinical
- Preclinical (Medical Coatings and Antimicrobial Wound Dressings)

Microbiology & Sterility Testing are forecasted to grow with the fastest CAGR of 10.0% over the forecast period. Rising investments by the biotechnology and pharmaceutical industries on the testing services and increasing research are expected to drive the growth of the segment.

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Service Outlook (Revenue, USD Billion; 2017-2027)
- Chemistry Test
- Package Validation
- Microbiology & Sterility Testing (Pyrogen and Endotoxin Testing, Anti-microbial Activity Testing, Sterility Test and Validation and Bio-Burden Determination)
- Biocompatibility Tests

Regional Analysis
The Asia Pacific dominated the industry in 2019 and is forecasted to command the market during the projected timeframe owing to the rapid improvement in healthcare infrastructure and rising expenditure on the healthcare sector. Extensive investment in the R&D activities and expansion of the biopharmaceutical sector is further augmenting the industry growth in the region. The increased availability of skilled labour and lower production costs are anticipated to make APAC the leading producer of medical devices. North America held the second-largest share of the industry.

To identify the key trends in the industry and read full summary click on the link: https://www.emergenresearch.com/industry-report/medical-devices-testing-services-market

The research provides answers to the following key questions:
- What is the expected market size of the Medical Devices Testing Services market for the forecast period 2020 - 2027? What will be the growth rate of the industry during the estimated period?
- What are the major driving forces shaping the future of the Medical Devices Testing Services industry worldwide?
- Who are the major vendors in the industry and what are their strategies to reap more profits and reduce costs?
- What are the trends from the past and future that are likely to favor the progress of the Medical Devices Testing Services industry worldwide?
- What are the major threats and challenges that hinder the development of the industry?
- What are the opportunities in store for the business owners operating in the market?

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