Preclinical Medical Device Testing Services Market Size, Share, Trend & Analysis by Application, Technology, Key Companies, Opportunities and Forecast 2022 To 2032
In 2022, the global Preclinical Medical Device Testing Services Market had a market value of US$ 2.8 billion, and by 2032, it is anticipated to reach a market value of US$ 6.63 billion, growing at a CAGR of 9%. Increased product complexity and stringent governmental restrictions are two factors contributing to the growth of the preclinical medical device testing services market. In the historical period from 2017 to 2021, the market for preclinical medical device testing services experienced a CAGR of 5.5%.
Integration of artificial intelligence along with Internet of Things is playing a key role in advancing preclinical medical device testing services. In addition, the growing burden of treating diseases at an early stage is creating opportunities for the development of preclinical medical device testing services. Manufacturers too are researching and analyzing preclinical devices to solve problems related to the same at an early stage. This, in turn, is driving the demand for preclinical medical device testing services.
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On the contrary, incompatible sterilization measures along with equipment sensitivity is derailing the progress of the market. In addition, approvals of preclinical medical devices differ from region to region. This, in turn, is hampering the growth of the overall market.
Key Takeaways from the Market Study
- Global preclinical medical device testing services market is expected to flourish 3x from 2022-2032
- Microbiology and sterility testing expected to possess a market share for 35%
- U.S projected to lead the market by expanding at a CAGR of 18% during the forecast period.
- India expected to register a CAGR of 13% for preclinical medical device testing services in the assessment period 2022-2032
- Switzerland to be an emerging hub across Europe, expected to reflect a 10% value CAGR until 2032
“Increasing burden of diseases and strict governmental regulations for safety of patients is positively influencing the demand for preclinical medical device testing services,” states a Fact.MR analyst.
Competitive Landscape
Key market players in the preclinical medical device testing services are Eurofins Scientific, Nelson Labs, North American Science Associates, Inc, WUXI APPTEC, SGS SA, Labcorp, TÜV SÜD AG, Sterigenics International LLC, Pace Analytical Services LLC, Intertek Group Plc, Charles River Laboratories International, Inc. Some of the recent key developments among the players are:
- In February 2022, Eurofins acquired Genetic Testing Service JSC from Vietnam. Through this expansion, the company is planning to expand its presence in Asia and strengthen its global network of advanced genetic testing.
- In September 2021, Nelson Labs and Sterigenics have collaborated to open a state of art laboratory and expand sterilization facilities to meet growing customer demand in Europe.
More Valuable Insights Available
FMI, in its new offering, presents an unbiased analysis of the global preclinical medical device testing services market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by Service (Biocompatibility Tests, Chemistry Test, Microbiology & Sterility Testing), & Region Forecast till 2032
Key Segments Covered in the Preclinical Medical Device Testing Services Market Report
Preclinical Medical Device Testing Services Market by Service:
- Preclinical Biocompatibility Medical Device Tests
- Preclinical Medical Device Chemistry Test
- Preclinical Medical Device Microbiology & Sterility Testing
- Bioburden Determination
- Pyrogen & Endotoxin Testing
- Sterility Test and Validation
- Antimicrobial Activity Testing
- Others
- Preclinical Medical Device Package Validation
Preclinical Medical Device Testing Market by Region:
- North America Preclinical Medical Device Testing Services Market
- Latin America Preclinical Medical Device Testing Services Market
- Europe Preclinical Medical Device Testing Services Market
- Asia Pacific Preclinical Medical Device Testing Services Market
- Middle East & Africa Preclinical Medical Device Testing Services Market
