Global Medical Device Analytical Testing Outsourcing Market Growth Analysis by Capacity, Production, Revenue (Value) and Gross Margin 2021-2025
Industry Trends
Implantable Medical Devices (IMDs) are increasingly being used to improve health outcomes for patients. IMD designers have to balance complexity, reliability, electricity consumption and costs. Consequently, companies shift their focus to innovation rather than non-core activities and thus outsource these activities in order to launch effective devices.
Material characterization dominated the market in 2015 and is likely to grow at a lucrative rate during the forecast period. Other tests that are inclusive of cleaning, reprocessing, method development & validation, accelerated stability testing, biocompatibility, validation testing for packaging materials (container closure permeation), and transport stability are also anticipated to witness rewarding growth. North America is likely to witness lucrative growth which is attributed to the fact that it is one of the top manufacturing hubs of highly reliable, complex, and high-end medical devices.
The regulatory authorities also perform routine post-market surveillance by levying a fee from the manufacturer. Receipt of any complaints about the drawbacks of the product entails its withdrawal from the market, thereby proving the stringent nature of these procedures.
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Emergence of personalized medicine, drug device combination, artificial intelligence, wearables and increased focus on real-time patient monitoring resulted in complex medical devices ecosystem. Real-time patient monitoring, remote patient monitoring, and continuous patient monitoring are the focal areas of interest when it comes to chronic disease management, such as diabetes and cardiovascular diseases.
Some of the key players operating in this space are: SGS SA; Toxikon, Inc.; Eurofins Scientific; Pace Analytical Services, LLC; Intertek Group plc; WuXi AppTec.; NORTH AMERICAN SCIENCE ASSOCIATES INC.; Envigo; Charles River Laboratories International Inc.; and Medical Device Testing Services
Global Medical Device Analytical Testing Outsourcing in Healthcare Market Revenue &Forecast, (US$ Million), 2015 – 2027
Competitive Landscape
In this complex ecosystem, equipment must deliver accurate results, have durability and be easy to operate. In order to match those parameters, devices must now undergo shear testing under accelerated conditions to obtain marketing approval and have a competitive advantage. Having these tests in-house is a matter of time, labor and cost; outsourcing these tests helps to overcome these constraints.
SGS SA; Toxikon, Inc.; Eurofins Scientific; Pace Analytical Services, LLC; Intertek Group plc; WuXi AppTec.; NORTH AMERICAN SCIENCE ASSOCIATES INC.; Envigo; Charles River Laboratories International Inc.; and Medical Device Testing Services are the key players in this market.
Service portfolio expansion along with regional penetration is anticipated to positively affect the market players. For Instance, in December 2016, company acquired Exova’s environment testing laboratories in Eastern Canada. This initiative is expected to help the company enhance geographical footprints in North America.
Global Medical Device Analytical Testing Outsourcing in Healthcare Market:
By Services: Extractable and leachable, Material characterization, Physical testing, Bioburden testing, Sterility testing
By Geography:
North America: (U.S, Canada, Mexico, Rest of North America)Europe: (France, The UK, Spain, Germany, Italy)
Nordic Countries: (Denmark, Finland, Iceland, Sweden, Norway)
Benelux Union: (Belgium, The Netherlands, Luxembourg, Rest of Europe)
Asia Pacific:(China, Japan, India, New Zealand, Australia, South Korea)
Southeast Asia: (Indonesia, Thailand, Singapore)
Rest of Southeast Asia
Middle East and Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of Middle East and Africa)
Latin America: (Brazil, Argentina, Rest of Latina America)
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