Medical Device Testing Market Size, Share, Growth, Trends And Forecast 2023-2032
Medical Device Testing Market Size, Growth Rate, And Forecast:
The global medical testing device market size is expected to grow from $8.60 billion in 2022 to $9.21 billion in 2023 at a compound annual growth rate (CAGR) of 7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every market across the globe. The global medical testing device market size is expected to reach $11.58 billion in 2027 at a CAGR of 5.90%.
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Medical Device Testing Market Drivers:
A rise in medical device recalls is driving the medical device testing market forward. A device recall is a process by which the manufacturer or distributor of the device takes corrective action to remove or correct the problem in the medical device. Medical device testing is used by medical device manufacturers in identifying the potential safety issues associate with devices and can help determine whether a medical recall is necessary to ensure patient safety and the effectiveness of devices and helps in improving the quality of the product to avoid medical recalls.
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Medical Device Testing Market Segments
•By Testing Type: Physical Testing, Chemical or Biological Testing, Cybersecurity Testing, Microbiology And Sterility Testing, Other Testing Type
•By Device Class: Class I, Class II, Class III
•By Sourcing Type: In-House, Outsourced
•By Service Type: Testing Services, Inspection Services, Certification Services
•By End-User: Hospital, Research Center, Homecare Clinics, Other End-User
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the medical device testing market.
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Medical Device Testing Market Key Players:
Major competitors in the medical device testing market include Intertek Group plc., SGS SA, Bureau Veritas Group, TUV SUD AG, TUV Rheinland Group, Pace Analytical Services LLC., Charles River Laboratories Inc, UL LLC, North American Science Associates LLC, Medistri SA, WuXi AppTec Inc., Siemens AG, ASTM International, Cordant Health Solutions, Legacy Medical Services LLC., GE Healthcare Technologies Inc, and Thermo Fisher Scientific Inc.
The Business Research Company's "Global Medical Device Testing Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Medical Device Testing Market Include:
1. Executive Summary
2. Medical Device Testing Market Characteristics
3. Medical Device Testing Market Trends And Strategies
4. Medical Device Testing Market - Macro Economic Scenario
5. Medical Device Testing Market Size And Growth
26. Africa Medical Device Testing Market
27. Medical Device Testing Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Medical Device Testing Market
29. Medical Device Testing Market Future Outlook and Potential Analysis
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