Medical Device Analytical Testing Outsourcing Market Will Reach USD 8.3 Billion By 2025: Grand View Research, Inc.
The global medical device analytical testing outsourcing market is
expected to reach USD 8.3 billion by 2025, according to a new report by Grand
View Research, Inc. A large number of medical device companies outsource
analytical testing operations to minimize business risks, hasten product market
entry, and reduce costs. These lead to significant rise in expenditure levels
and, therefore, medical device original equipment manufacturers rapidly switch
to outsourcing as one of the effective cost curbing tool.
Implantable Medical Devices
(IMDs) are being used increasingly in order to improve patients’ health
outcome. Designers of IMDs have to balance complexity, reliability, power
consumption, and costs. Consequently, companies are shifting their focus to
innovation rather than noncore activities and, therefore, outsourcing these
activities to launch efficient devices. All these factors are expected to
increase the medical device outsourcing market over the forecast period.
In this complex ecosystem, it is
necessary for equipment to provide accurate results, to have durability, and
easy operation. To match these parameters, devices now have to undergo shear
testing in accelerated conditions to obtain marketing approval and have
competitive advantage. Conducting these in-house is matter of time, labor, and
cost; outsourcing these tests helps overcome these limitations.
Browse full research report on Medical Device Analytical Testing
Outsourcing Market: http://www.grandviewresearch.com/blog/medical-device-analytical-testing-outsourcing-services-market-size-share
Further key findings from
the study suggest:
- 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.
- 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
Read Our Blog: http://www.grandviewresearch.com/blog/medical-device-analytical-testing-outsourcing-services-market-size-share
Grand View Research has segmented the global medical device
analytical testing outsourcing market on the basis of services and region:
Medical Device Analytical Testing Outsourcing Services
Outlook (Revenue, USD Million, 2014 - 2025)
- Extractable
& Leachable
- Material
Characterization
- Physical
Testing
- Bioburden
Testing
- Others
Medical Device Analytical Testing Outsourcing Regional
Outlook (Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia
Pacific
- Japan
- China
- Latin
America
- Brazil
- Mexico
- Middle
East and Africa (MEA)
- South
Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: http://www.grandviewresearch.com
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