The global Preclinical Medical Device Testing Services Market share is expected to reach USD 4.9 billion by 2030, according to a new report by Grand View Research, Inc. The rising incidence of diseases has provided manufacturers with different approaches for the formation of medical devices and increasing demand for technologically advanced medical devices are the main factors driving the market growth.
The pace of technological advancement in the
healthcare industry has vastly increased in recent years. Medical device
technology advancements support simple, painless treatment during disease
management. Additionally, advancements in medical device technology help with
accurate and quick disease diagnosis results, as well as the affordability of
technology-based therapeutic tools for disease treatment. Furthermore, numerous
governmental agencies and healthcare institutions support medical research
facilities. This funding is primarily intended to promote global health care
innovations. The growth of medical device testing in the anticipated period is
therefore supported by expanding innovation and technological advancement.
Preclinical testing plays a crucial role in the
process of creating new products. Before beginning human testing, most of this
testing has been completed and reports should be available. According to
ISO-10993, biocompatibility testing results are needed to be included in 510(k)
notifications for Class II equipment that has immediate patient contact or
contact with the blood supply. This shows that the new device's risks are
"substantially equivalent" to the predicate device's risks. In order
to show the utility of the new device, validate electrical safety, or examine
electromagnetic interference, the testing also involves animal and bench
studies.
COVID-19 has created an enormous demand for these
services. The growth was not significant during the first half, but it became
more significant during the second as the industry adopted the new norms at a
faster pace amid the pandemic. Numerous projects that were halted because of
COVID have been restarted and PPE kits are witnessing an increase in production
and testing. During the pandemic, many medical devices in high demand diverted
attention from the equipment needed for surgery. The COVID-19 vaccines,
ventilators, and pulse oximeters are the main products that witnessed a spike
in demand.
Related Press Release@ Preclinical Medical Device Testing Services Market Report
Preclinical Medical Device
Testing Services Market Report Highlights
- The Microbiology & sterility testing segment dominated the
market with a revenue share of 34.2% in 2021. It is one of the main tests
included in pre-clinical medical device testing These examinations
aid in identifying the occurrence of microorganisms in the device
- Based on microbiology & sterility test type, sterility test and
validation dominated the market with a revenue share of 45.6% in 2021
- The chemistry test segment is anticipated to exhibit the fastest
CAGR of 9.0%. The test is conducted in order to categorize, recognize, and
understand the chemicals used in the production of medical devices
- Asia Pacific led the global market in 2021 and is projected to
witness the fastest CAGR of 9.0% during the forecast years due to the low
cost of outsourcing medical device testing services
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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