New International Research study of Medical Device Testing Services Market in 2020
Medical Device Testing Services Industry is highly fragmented, with several hundred small and medium-sized limited-service providers, and a small number of large, full-service, global medical device testing market. There are few barriers to entry for smaller companies into the global market, whereas the full-service medical device testing with capabilities require building the necessary infrastructure with the ability to simultaneously manage multiple complex testing services across numerous geographies, establishing the requisite relationships with strategic partners, developing relevant therapeutics and development of expertise to serve the needs of the end users.
Medical device testing needs strong experience of the domain, native and national legislation, and information about the devices, infrastructure, and ability to support the testing. The healthcare and medical device industry is an active one due to continuous development and advanced solutions. The enhancements in medical device technology have significantly enhanced the efficiency of patient care in the last few decades. As per the FDA in 2018, stated that there are above 80,000 incidents identified since 2008, due to the medical device injury.
However, a number of problems inhibit medical devices from undertaking the standard formulary agency review process applied to drugs. In recent years, approximately thirty percent of respondents experienced a significant supply shortage or disruption that was mostly due to supply shortages, quality issues in manufacturing, and delays in regulatory approvals.
Company Profiles
- SGS SA
- Eurofins
- Toxikon
- Pace Analytical Services
- Intertek Group
- North American Science Associates
- Charles River
- WuXi AppTec
- Element Materials Technology