Medical Device Testing Market to Witness Huge Growth by Key Players: SGS, Bureau Veritas, Intertek, DEKRA, Eurofins Scientific. TUV Rheinland, BSI and Others.

According to Market Study Report, Medical Device Testing Market provides a comprehensive analysis of the Medical Device Testing Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape, technological trends and emerging opportunities of global industry. This report also provides market landscape and market share information in the Medical Device Testing Market. An exclusive data offered in this report is collected by research and industry experts team.

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The Medical Device Testing Market is estimated to be USD 8.56 Billion in 2017 and is expected to reach USD 12.26 Billion by 2023, growing at a CAGR of 6.18% between 2017 and 2023. This report spread across 186 pages, profiling 10 companies and supported with 67 tables and 59 figures are now available in this research.

Top Companies Profiled in the Medical Device Testing Market:
o SGS (Switzerland)
o Bureau Veritas (France)
o Intertek (UK)
o DEKRA (Germany)
o Eurofins Scientific (Luxembourg)
o BSI (UK)
o UL (US)
o ASTM (US)

"Medical device testing market for certification services expected to grow at the highest CAGR during the forecast period"
There has been an increasing demand for certification services, owing to the increasing number of specified standards by governments and international standardization institutions. Companies are more aware about their credibility than before and certifications demonstrate the compliance of their medical device with specific standards and improve its marketability.

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"Medical device testing market for in-house sourcing type accounted for the largest share in 2016"
Manufacturers and organizations had to adhere to limited standards and regulations in the past; hence, it was possible for companies to build their in-house testing and inspection capabilities. In the recent years, the standards pertaining to human/user safety have increased and become mandatory for medical devices. However, this trend is shifting to the increase in outsourcing TIC services to specialized third-party service providers as they help reduce manufacturers' operational expenditure.

"Medical device testing market for active implant medical device to grow at the highest CAGR during the forecast period"
Implementation of stringent regulations to ensure that the implantable medical devices are fit for the human body is increasing. These devices are prone to risks. Hence, they are subjected to rigorous regulatory controls, both pre- and post-marketing.

Breakdown of primary participants' profile:
o By Company: Tier 1 -52 %, Tier 2 -14%, and Tier 3 -34%
o By Designation: C-Level Executives - 49%, Directors =28%, and Others =23%
o By Region: North America -42%, Europe -32%, APAC -21%, and RoW -5%

Competitive Landscape of Medical Device Testing Market:
1 Overview
2 Key Players in the Medical Device Testing Market
3 Competitive Situations and Trends
4 Developments
4.1 New Standards and Certification Developments
4.2 Expansions and Service Expansions
4.3 Mergers and Acquisitions

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Research Coverage:
The study segments the medical device testing market report into service type (testing services, inspection services, certification services, and others) and sourcing type (in-house and outsourced). The study also covers device class (class I, class II, class III), technologies (active implant, active, non-active, IVD, ophthalmic, orthopedic and dental, vascular, and others), and provides the geographic forecast of the market size for various segments with regard to 4main regions-North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).

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This release was published on openPR.