originally published at Health - Trend Magazine
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Medical Devices Testing Services Market Trends – Increasing demand for in-vitro tests
VANCOUER, BC, CANADA, April 26, 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.
The study on the Global Medical Devices Testing Services Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties. The Medical Devices Testing Services Market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the Medical Devices Testing Services Market industry.
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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.
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 presence of stringent regulatory protocols to ensure the safety of the devices is most likely to fuel the demand for the testing services of the medical devices. Increasing demand for in-vitro tests to detect infectious diseases and monitor drug therapies and the overall health condition of the patients is a growing trend in the medical devices testing services Market.
Top Companies Profiled in the Medical Devices Testing Services Market Report Include : 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.
The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
Key Highlights of Report :
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.
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It exclusively offers details about the regulatory framework and development policies that have been implemented in the market over recent years latest Medical Devices Testing Services Market trends The Global Medical Devices Testing Services Market report is an all-inclusive document on the current scenario of the global Medical Devices Testing Services Market industry.
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)
Preclinical (Medical Coatings and Antimicrobial Wound Dressings)
Service Outlook (Revenue, USD Billion; 2017-2027)
Microbiology & Sterility Testing (Pyrogen and Endotoxin Testing, Anti-microbial Activity Testing, Sterility Test and Validation and Bio-Burden Determination)
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The global Medical Devices Testing Services Market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global Medical Devices Testing Services Market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements
This survey provides answers to the following important questions:
What is the expected growth rate of the Medical Devices Testing Services Market ?
What is the market size for the forecast period from 2022 to 2027 ?
What are the market trends for Medical Devices Testing Services Market that business owners can trust in the next few years?
What are the threats and challenges that are expected to limit the progress of Medical Devices Testing Services Market industry in different countries?
What are the main drivers of changing the course of the industry?
Who are the major vendors dominating the Medical Devices Testing Services Market industry in different regions? What are their winning strategies to stay ahead of the competition?
What are the main opportunities available to employers during the forecast period from 2022 to 2027 ?
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originally published at https://thetrendmag.comHealth - Trend Magazine