Medical Device Testing Services Market To Reach $13.4 Billion By 2025: Grand View Research, Inc.
The global medical device testing services market size is expected to reach USD 13.4 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 11.5% during the forecast period. Increasing spending in preclinical phase of medical devices coupled with growing outsourcing rate is anticipated to help the market gain significant traction. Surging demand for in-vitro test is also projected to fuel demand for testing services as many CROs are developing novel in-vitro methods to replace traditional in-vivo methods, which require animal testing. Improvements in procedures for development and standardization of novel in vitro test methods, particularly for sensitization, cytotoxicity, and irritation, are also working in favor of the market. There has been a significant increase in preclinical spending for both pharmaceutical and medical devices. This trend is estimated to contribute to the demand for testing services by medical...