Global Medical Device Testing Market research report works as a best solution to know the trends and opportunities in the HEALTHCARE industry. The report has been framed with the most excellent and superior tools of collecting, recording, estimating and analysing market data. This report gives broader perspective of the market place with its all-inclusive market insights and analysis. The information, statistics, facts and figures delivered via this report helps companies in HEALTHCARE industry to maximize or minimize the production of goods depending on the conditions of demand.
Acceleration in technology development in the healthcare sector has tremendously increased in last few years. Advancement in technology of medical devices supports painless and uncomplicated treatment during disease management. Moreover, innovation and upgrading in medical devices assist in disease diagnosis's precise and rapid results. In addition, innovation in medical devices provides the cost-effectiveness of technology-based therapeutic tools during disease treatment.
The global medical device testing market is expected to reach USD 8,423.14 million by 2029 from USD 3,832.27 million in 2021, growing at a CAGR of 10.8% in the forecast period of 2022 to 2029. The rising need for global verification and validation of medical devices has enhanced the market's growth. The rising healthcare expenditure for better health services also contributes to the market's growth. Some of the major market players focus on various service launches and approvals during this crucial period.
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Segment Analysis:
The global medical device testing market is categorized into six notable segments such as service type, testing type, phase, sourcing type, device class, and product.
- On the basis of service type, the global medical device testing market is segmented into testing services, inspection services, and certification services. In 2022, testing services segment is expected to dominate the global medical device testing market with 69.00% market share as this type of service is more prevalent in various regions
- On the basis of testing type, the global medical device testing market is segmented into physical testing, chemical/biological testing, cybersecurity testing, microbiology and sterility testing and others. In 2022, the chemical/biological testing segment is expected to dominate the global medical device testing market with a 36.10% market share. This type of testing is very important for the medical devices to be marketed.
- On the basis of phase, the global medical device testing market is segmented into preclinical and clinical. In 2022, the preclinical segment is expected to dominate the global medical device testing market with 79.52% market share as this phase is highly important for medical device testing.
- On the basis of sourcing type, the global medical device testing market is segmented into in-house and outsourced. In 2022, outsourced segment is expected to dominate the global medical device testing market with 73.53% market share as it is a less expensive type of sourcing present in the market which the manufacturers highly prefer.
- On the basis of device class, the global medical device testing market is segmented into class I, class II and class III. In 2022, class I segment is expected to dominate the global medical device testing market with 42.54% market share due to increasing RD activities for class I medical devices.
The class I segment will dominate the device class segment of the medical device testing market
The class I segment will emerge as the dominating segment device class segment. This is because of the growing awareness about the systems in the market, especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.
- On the basis of product, the global medical device testing market is segmented into active implant medical device, active medical device, non-active medical device, in-vitro diagnostics medical device, opthalmic medical device, orthopedic and dental medical device, vascular medical device, and others. In 2022, the non-active medical device segment is expected to dominate the global medical device testing market with 29.02% market share. This type of medical device is highly used in the market; hence, these products need to be tested before coming into the market.
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