Medical Device Testing Global Market Report 2024

Description

“Medical Device Testing Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on medical device testing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for medical device testing? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The medical device testing market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Testing Type: Physical Testing; Chemical or Biological Testing; Cybersecurity Testing; Microbiology And Sterility Testing; Other Testing Type
2) By Device Class: Class I; Class II; Class III
3) By Sourcing Type: In-House; Outsourced
4) By Service Type: Testing Services; Inspection Services; Certification Services
5) By End-User: Hospital; Research Center; Homecare Clinics; Other End-User
Companies Mentioned: Intertek Group plc.; SGS SA; Bureau Veritas Group; TUV SUD AG; TUV Rheinland Group
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Medical device testing is the process of assessing and validating the safety, effectiveness, and quality of medical devices. This crucial evaluation ensures that these products are safe for use in patient care and comply with the standards and regulations established by relevant authorities.

The primary types of medical device testing include physical testing, chemical or biological testing, cybersecurity testing, microbiology and sterility testing, and other related evaluations. Physical testing involves subjecting medical devices to a series of tests to assess their performance, durability, and safety, aiding manufacturers in ensuring the safety, effectiveness, and reliability of their products. The device classes include class I, class II, and class III, and testing services can be conducted both in-house and outsourced. Services offered encompass testing, inspection, and certification. Medical device testing is utilized by various end-users, including hospitals, research centers, homecare clinics, and others.

The medical device testing market research report is one of a series of new reports from The Business Research Company that provides medical device testing market statistics, including the medical device testing industry global market size, regional shares, competitors with a medical device testing market share, detailed medical device testing market segments, market trends and opportunities, and any further data you may need to thrive in the medical device testing industry. This medical device testing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The medical device testing market size has grown strongly in recent years. It will grow from $9.21 billion in 2023 to $9.83 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The expansion observed in the historical period can be attributed to factors such as stringent regulatory requirements, the increasing complexity of medical devices, the globalization of the medical device industry, a rise in chronic diseases, and an intensified focus on patient safety.

The medical device testing market size is expected to see strong growth in the next few years. It will grow to $12.33 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The anticipated growth in the forecast period can be attributed to advancements in medical technology, the increased outsourcing of testing services, the rapid growth of personalized medicine, the expanding regulatory landscape, and a heightened focus on cybersecurity for medical devices. Major trends expected in the forecast period include enhanced regulatory compliance testing, the expansion of biocompatibility testing methods, the application of simulation and modeling techniques, increased demand for sterility testing, and the introduction of testing services for connected devices.

The medical device testing market is being propelled forward by an increase in medical device recalls. Device recalls involve corrective actions taken by manufacturers or distributors to address issues with medical devices. Medical device testing is utilized by manufacturers to identify potential safety concerns associated with devices. It helps determine the necessity of medical recalls to ensure patient safety, device effectiveness, and product quality improvement to avoid recalls. For instance, Sedgwick reported a 11% increase in medical recalls in Q2 2022 compared to Q1 2022, with a total of 719 recalls. Therefore, the growing number of medical device recalls is a key driver for the medical device testing market.

The expansion of the medical device testing market in the future is expected to be driven by the rising healthcare expenditure. Healthcare expenditure encompasses spending on healthcare-related goods and services within a healthcare system or economy. It plays a crucial role in supporting the development and accessibility of medical device testing. In November 2022, the Canadian Institute for Health Information reported a 0.8% rise in healthcare expenditure to $331 billion in 2022, following a 7.6% increase in 2021. Thus, the increasing healthcare expenditure is fueling the growth of the medical device testing market.

A prominent trend in the medical device testing market is the introduction of product innovations by major companies to maintain their market position. For instance, Nelson Labs launched the Nelson Labs Mark in February 2022, a product testing verification program that provides authentication of test reports and reliable data on product performance. This program, initially intended for masks and respirator devices, includes two-factor authentication for consumers to confirm the legitimacy of tests.

Major companies in the medical device testing market are focusing on developing innovative services to drive revenues. UL Solutions, a safety science company, launched new medical device testing services in October 2023 at its laboratory in Michigan, USA. These services aim to help manufacturers address potential risks such as quality, safety, and cybersecurity issues while supporting innovation and protecting medical device users.

In November 2022, Millstone Medical Outsourcing LLC acquired MycoScience Inc. for an undisclosed amount. This strategic acquisition is geared towards expanding Millstone Medical Outsourcing LLC's laboratory and environmental testing services in the medical device testing market. MycoScience Inc. is a provider of medical device and pharmaceutical laboratory testing services.

Major companies operating in the medical device testing market report are Intertek Group plc., SGS SA, Bureau Veritas Group, TUV SUD AG, TUV Rheinland Group, Pace Analytical Services LLC., Charles River Laboratories Inc, UL Solutions, 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, Thermo Fisher Scientific Inc., Biomedical Device Labs, NSF International, Analytical Lab Group LLC, Boston Analytical, DDL Inc., Element Materials Technology, Empirical Testing Corp., Eurofins Scientific, Gateway Analytical LLC, iuvo BioScience, Laboratory Corporation of America Holdings, Microtest Laboratories Inc., Nelson Laboratories LLC, National Technical Systems Inc., Pacific Biolabs Inc., Sterigenics International LLC, Toxikon Corporation, WCG Imaging, Westpak Inc

North America was the largest region in the medical device testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the medical testing device market report during the forecast period. The regions covered in the medical device testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the medical device testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The medical devices testing market includes revenues earned by entities by providing services such as biocompatibility testing services, bio-burden determination services, and quality assurance testing services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r11131

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

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Medical Device Testing Market Size and Growth

5.1. Global Medical Device Testing Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Medical Device Testing Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Medical Device Testing Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Medical Device Testing Market Segmentation

6.1. Global Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Physical Testing
Chemical or Biological Testing
Cybersecurity Testing
Microbiology And Sterility Testing
Other Testing Type
6.2. Global Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Class I
Class II
Class III
6.3. Global Medical Device Testing Market, Segmentation By Sourcing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
In-House
Outsourced
6.4. Global Medical Device Testing Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Testing Services
Inspection Services
Certification Services
6.5. Global Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Hospital
Research Center
Homecare Clinics
Other End-User

7. Medical Device Testing Market Regional And Country Analysis

7.1. Global Medical Device Testing Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Medical Device Testing Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Medical Device Testing Market

8.1. Asia-Pacific Medical Device Testing Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Medical Device Testing Market

9.1. China Medical Device Testing Market Overview
9.2. China Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Medical Device Testing Market

10.1. India Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Medical Device Testing Market

11.1. Japan Medical Device Testing Market Overview
11.2. Japan Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Medical Device Testing Market

12.1. Australia Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Medical Device Testing Market

13.1. Indonesia Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Medical Device Testing Market

14.1. South Korea Medical Device Testing Market Overview
14.2. South Korea Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Medical Device Testing Market

15.1. Western Europe Medical Device Testing Market Overview
15.2. Western Europe Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Medical Device Testing Market

16.1. UK Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Medical Device Testing Market

17.1. Germany Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Medical Device Testing Market

18.1. France Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Medical Device Testing Market

19.1. Italy Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Medical Device Testing Market

20.1. Spain Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Medical Device Testing Market

21.1. Eastern Europe Medical Device Testing Market Overview
21.2. Eastern Europe Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Medical Device Testing Market

22.1. Russia Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Medical Device Testing Market

23.1. North America Medical Device Testing Market Overview
23.2. North America Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Medical Device Testing Market

24.1. USA Medical Device Testing Market Overview
24.2. USA Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Medical Device Testing Market

25.1. Canada Medical Device Testing Market Overview
25.2. Canada Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Medical Device Testing Market

26.1. South America Medical Device Testing Market Overview
26.2. South America Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Medical Device Testing Market

27.1. Brazil Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Medical Device Testing Market

28.1. Middle East Medical Device Testing Market Overview
28.2. Middle East Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Medical Device Testing Market

29.1. Africa Medical Device Testing Market Overview
29.2. Africa Medical Device Testing Market, Segmentation By Testing Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Medical Device Testing Market, Segmentation By Device Class, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Medical Device Testing Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Medical Device Testing Market Competitive Landscape And Company Profiles

30.1. Medical Device Testing Market Competitive Landscape
30.2. Medical Device Testing Market Company Profiles
- 30.2.1. Intertek Group plc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. SGS SA
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Bureau Veritas Group
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. TUV SUD AG
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. TUV Rheinland Group
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Medical Device Testing Market Competitive Benchmarking

32. Global Medical Device Testing Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Medical Device Testing Market

34. Medical Device Testing Market Future Outlook and Potential Analysis

34.1 Medical Device Testing Market In 2028 - Countries Offering Most New Opportunities
34.2 Medical Device Testing Market In 2028 - Segments Offering Most New Opportunities
34.3 Medical Device Testing Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer