As per Future Market Insights’ latest industry analysis, the global Preclinical Medical Device Testing Services Market accumulated US$ 6 Billion in 2021, and is expected to garner US$ 6.72 Billion by 2022. The market is expected to gain US$ 20.87 Billion by 2032 while expanding at a staggering double-digit CAGR of 12% from 2022 to 2032. Growth of the market is attributed to the strict regulations imposed by governmental bodies to maintain safety standards.
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The integration of artificial intelligence and the Internet of Things is critical to the advancement of preclinical medical device testing services. Furthermore, the rising cost of diagnosing and treating diseases at an early stage is opening up opportunities for the development of preclinical medical device testing services. Manufacturers are also researching and analysing preclinical devices in order to solve problems with them at an early stage. As a result, demand for preclinical medical device testing services is increasing.
On the contrary, incompatible sterilisation measures, combined with equipment sensitivity, are impeding market growth. Furthermore, preclinical medical device approvals differ by region. This, in turn, is impeding overall market growth.
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
According to a Fact.MR analyst, “the increasing burden of diseases and strict governmental regulations for patient safety are positively influencing the demand for preclinical medical device testing services.”
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’s new offering provides an unbiased analysis of the global preclinical medical device testing services market, including historical market data (2017-2021) and forecast statistics for 2022-2032.
The research provides critical insights by Service (Biocompatibility Tests, Chemistry Test, Microbiology & Sterility Testing), and Region Forecast until 2032.
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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
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