The global medical device analytical testing outsourcing market size 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.
Full Research Report On Medical Device Analytical Testing Outsourcing Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/medical-device-analytical-testing-outsourcing-market
Medical Device
Analytical Testing Outsourcing Market Report Highlights
- Material characterization
dominated the medical device analytical testing outsourcing 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
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Medical Device
Analytical Testing Outsourcing Market Segmentation
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 info visit @ https://www.grandviewresearch.com
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