Medical devices testing services market to hit USD 22.43B

The global medical devices testing services market will be worth USD 22.43 Billion by 2032, according to a current analysis by Emergen Research. The growth of this market can be attributed to the growing government initiatives on improving the healthcare infrastructure. The increasing healthcare budgetary allocation in the emerging economies is expected to drive the demand for the medical devices testing services market.

The improvement in medical device technology has resulted in the increased efficiency of the devices and improved patient care, which in turn has increased the adoption of the testing services. Increasing development in the field of personalized medicine and the drug-device combination is most likely to fuel the demand for the testing services. Technological advancements such as the implementation of Artificial Intelligence or the Internet of Things in the testing services of the medical devices is expected to drive the growth of the market.

The presence of complicated reimbursement policies is expected to restrain the growth of the Medical Devices Testing Services market. Moreover, the rising cost of medical device testing services is projected to hamper the demand for testing services.

Major companies and competitive landscape
The Medical devices testing services market is moderately fragmented with a large number of small and medium-sized manufacturers, which account for a major part of the global share. The manufacturers are well-equipped with manufacturing facilities and are involved in several research & development activities. Some of the prominent players in the medical devices testing services market include:

• SGS S.A.
• Toxikon, Inc.
• Intertek Group plc
• Pace Analytical Services
• Charles River Laboratories International, Inc.
• American Preclinical Services LLC
• North American Science Associates, Inc.
• Sterigenics International LLC
• Eurofins
• WuXi AppTec Group

Strategic development
In April 2019, SGS, the leading inspection, verification, testing, and certification company in the world, has entered into a joint venture with Allion Labs, which is a renowned Internet of Things testing service provider. Emergen Research