Medical Device Testing Market - Trends Forecast Till 2028

Medical Device Testing Market, By Testing (Electromagnetic Compatibility, Electrical Safety, Wireless Connectivity (2g/3g/4g-Lte, Wi-Fi, Bluetooth, and NFC), Environmental Testing, Mechanical Testing, Chemical, Physical, and Biocompatibility Testing, Cybersecurity Testing), Service Type (Testing Services, Inspection Services, Certification Services and Others), Source Type (In-House and Outsourced), Technology (Active Implant Medical Device, Active Medical Device, Non-Active Medical Device, In-Vitro Diagnostic Medical Device, Ophthalmic Medical Device, Orthopaedic and Dental Medical Device, Vascular Medical Device and Others), Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: September, 2020

Base Year Estimate: 2019

Report ID: D-SE-MDTM-56

Format:  

Number of Pages: 296

Domain: Semiconductors & Electronics

Medical Device Testing Market – Trends Forecast Till 2028

The global medical device testing market is anticipated to reach USD 9.8 billion by 2020 growing at a CAGR of 4.8% during the forecasting period, 2020-2028. Growing demand for regulation of medical devices, increasing bent towards outsourcing of testing services are some of the factors that have supported long-term expansion for the medical device testing industry. Despite the continuous consolidation of the industry, the industry is remarkably fragmented. 

Medical Device Testing Market – Trends Forecast Till 2028

The global medical device testing market is segmented into testing, service type, sourcing type, device class, technology, and geography.

The testing segment is segmented into Electromagnetic Compatibility, Electrical Safety, Wireless Connectivity (2g/3g/4g-LTE, Wi-Fi, Bluetooth), and NFC

The service Type segment is segmented into Testing Services, Inspection Services, Certification Services, and Others

The sourcing Type segment is segmented into In-House and Outsourced

Device Class segment is segmented into Class I, Class II, and Class III

The technology segment is segmented into Active Implant Medical Device, Active Medical Device, Non-Active Medical Device, In-Vitro Diagnostic Medical Device, Ophthalmic Medical Device, Orthopaedic and Dental Medical Device, Vascular Medical Device and Others

Geographically, the global medical device testing market is sub-segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America and insights are provided for each region and major countries within the regions

Asia-Pacific region has come up as the prominent region for the leading share in the overall global market during the forecast period 2020-2028.

Key players in the global medical device testing market are SGS, Eurofins Scientific, Bureau Veritas, Intertek, TÜV SÜD and Dekra

The companies have come up with various promotional activities in from of launch, investment, acquisition, and other, for instance:

  • In 2020, Bureau Veritas USA launched 5G device certification testing. With the opening of regulatory test and global market access services as well as 5G technology integrators can now access services from Bureau Veritas’ Bay Area technical competence center
  • In 2019, SGS launched a new service for international type approval (ITA) restricted substance compliance that offers electrical and electronics (E&E) products importers and manufacturers with a one for all solution 

Available Customizations

In addition to the market data for the medical device testing market, Delvens. offers client-centric reports and customized according to the company’s specific demand and requirement.

Research Methodology

Secondary Research

This research method involved the usage of extensive secondary sources (such as directories and databases)—Hoovers, Avention, annual reports, investor presentation, conferences like Jefferies conference)—to identify and collect information useful for this study of the medical device testing market. The purpose of secondary research was to identify and collection of extensive, technical, market-oriented, and commercial studies of the global medical device testing market. Through secondary research, the market is classified and segmented as per of industry trend, development, regional market. Product and technology development. 

Primary Research

The primary sources mainly included several industry experts from the core and related industries and suppliers, manufacturers, distributors, alliances, and organizations related to all segments of this industry’s supply chain. In-depth interviews were conducted with various primary respondents—including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts—to obtain and verify critical qualitative and quantitative information as well as to assess future prospects. The following figure depicts the market research methodology used in drafting this report on the medical device testing market.

Primary Respondent breakdown is given below:

Medical Device Testing Market – Trends Forecast Till 2028

Market Sizing

Top-down and bottom approaches were used to derive the market estimate and validate the total revenue of the medical device testing market. This approach has also been used to derive the market for segmentation and sub-segmentation. 

Data Validation

Impact analysis has been conducted for deriving the market size. After collecting the in-depth quantitative and qualitative data, we contact primary respondents in order to gain a 98.8% of confidence level on our data.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants 

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors
  • Gain authentic and granular data access for the medical device testing market so as to understand the trends and the factors involved in changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Market Revenue In 2020

USD 9.8 billion

Growth Rate

CAGR of 4.8% during the forecasting period, 2020-2028

Historical Data

2017-2018

Forecast Years

2020-2028

Base Year 

2019

Units Considered

Revenue in USD billion and CAGR from 2020 to 2028

Report Segmentation

Testing, Service Type, Sourcing Type, Device Class, Technology and Geography

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and the Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

SGS, Eurofins Scientific, Bureau Veritas, Intertek, TÜV SÜD and Dekra

Available Customization 

In addition to the market data for the medical device testing market, Delvens. offers client-centric reports and customized according to the company’s specific demand and requirement.

 

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