February 12, 2020

Medical Device Testing Services: Rising Demand of Testing for Medical Devices

Medical device testing needs strong experience of the domain, native and national legislations, 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. Since, last few years, medical device companies and doctors have observed that spinal-cord stimulators have helped the patients who suffer from pain disorders. Due to this, it has become one of the most rising products in the $400 billion medical device industry. Therefore, the increasing incidences of product recall and higher demand for quality products are growing the need for testing of medical devices. Hence, it will boost the market for medical device testing services.

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The medical device technology is improving life by identifying diseases at an early stage and enhancing treatment, diagnosis, and patient monitoring. The small and medium-sized enterprises (SMEs) training programs have been implemented in the countries such as China, Chile, Indonesia, Mexico, Malaysia, Singapore, Philippines, Peru, Russia and Viet Nam and others. In 2018, the medical device market in the U.K. was valued approximately US$10.6 billion. Among which, around 2,500 are small to medium-sized medical device companies in the U.K.

Moreover, a large number of multinational companies have established their head offices or subsidiaries in the country. Furthermore, every year, the acute trusts spend around an average of US$ 6.6 billion on clinical supplies, which include medical equipment. Additionally, among the 1,300 medical device companies in France, approximately 92% are small and medium-sized enterprises (SMEs), out of which 88% produce entirely medical devices. SME’s outsource the medical device testing as it requires high cost, time, and skilled labor.

During 2018, the region of Asia Pacific held a maximum share in the medical device testing services market. The growing interest of international players in China and India market, stringent product approval in countries like China, and advancing healthcare infrastructure. Thus, there is a huge potential for medical device testing services market during the forecast period.

The major players operating in the medical device testing services market include SGS SA, Eurofins, Toxikon, Pace Analytical Services, LLC, Intertek Group plc, NORTH AMERICAN SCIENCE ASSOCIATES INC., Charles River, WuXi AppTec, Element Materials Technology, and TÜV SÜD AG, among others.

Source: The Insight Partners