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The increasing demand for medical devices testing and the growing incidence of chronic diseases are driving the demand of the market.

VANCOUVER, BC, CANADA, January 12, 2022 /EINPresswire.com/ -- The global Medical Devices Testing Services Market will be worth USD 14.25 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing demand for testing of medical devices. The increasing need to obtain enhanced accuracy and durability of the medical devices has resulted in the rising adoption of the testing services by pharmaceutical companies. Manufacturers of medical devices are outsourcing the testing services to third-party entities to reduce the increasing product recalls, which is expected to drive the growth of the medical devices testing services market.

The Medical Devices Testing Services market report focuses on the economic developments and consumer spending trends across different countries for the forecast period 2020 to 2027. The research further reveals which countries and regions will have a better standing in the years to come.  Apart from this, the study talks about the growth rate, market share as well as the recent developments in the Medical Devices Testing Services industry worldwide. Besides, the special mention of major market players adds importance to the overall market study.

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Key Highlights From The Report

In January 2020, SGS acquired Thomas J. Stephens & Associates, Inc., a nationally recognized clinical research organization that is serving the cosmetic and personal care industry. The acquisition is expected to expand the consumer & retail service portfolio of SGS in the clinical testing sector for cosmetic and personal care products in the USA.

The preclinical segment held the largest market share of 57.6% in 2019. Increasing investments in the R&D of the preclinical testing of medical devices is expected to drive the growth of the segment.  

Microbiology & Sterility Testing are forecasted to grow with the fastest CAGR of 10.0% over the forecast period. Rising investments by the biotechnology and pharmaceutical industries on the testing services and increasing research are expected to drive the growth of the segment.

The Asia Pacific region is expected to be the fastest-growing region over the forecast period. Increasing government initiatives on improving the healthcare infrastructure and availability of skilled labor at lower costs are driving the Medical Devices Testing Services market in the region.

The subject matter experts conducting the study offer a deep understanding of how prominent leaders have managed to navigate the potential buyers and competitive dynamics influencing their brand positioning in the industry The Medical Devices Testing Services market analysis provides everything a business owner needs in order to succeed.

Major Players/Manufacturers profiled in the report are:

SGS S.A., Toxikon, Inc., Intertek Group plc, Pace Analytical Services, Charles River Laboratories International, Inc., American Preclinical Services LLC, North American Science Associates, Inc., Sterigenics International LLC, Eurofins, and WuXi AppTec Group, among others.

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For better understanding, the report further divides the market into key segments such as product types and application spectrum. The report also offers estimates about the segment and sub-segment expected to grow at a rapid pace and the key factors expected to drive revenue growth of the segments during the forecast timeline of 2021-2028.

Emergen Research has segmented the global Medical Devices Testing Services Market on the basis of Phase, Service, and region:

Phase Outlook (Revenue, USD Billion; 2017-2027)

Clinical

Preclinical (Medical Coatings and Antimicrobial Wound Dressings)  

Service Outlook (Revenue, USD Billion; 2017-2027)

Chemistry Test

Package Validation

Microbiology & Sterility Testing (Pyrogen and Endotoxin Testing, Anti-microbial Activity Testing, Sterility Test and Validation and Bio-Burden Determination)

Biocompatibility Tests

Regional Segmentation;

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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The report offers insightful information about the market dynamics of the Medical Devices Testing Services market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Medical Devices Testing Services market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Medical Devices Testing Services market.

Key Benefits of the Report:

Comprehensive analysis of the competitive scenario and its changing dynamics

Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis

In-depth 8 year analysis of the Global Medical Devices Testing Services Market

Critical assessment of the key market segments

Comprehensive analysis of the drivers, restraints, trends, and opportunities

Detailed regional analysis and extensive company profiling

Extensive assessment of current and emerging trends of the market

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Thank you for reading our report. To inquire about customization or any query about the report, please get in touch with us. Our team will make sure the report is best suited to your needs. Emergen Research also offers a country-wise customized report as per clients’ needs. 

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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