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Medical Device Testing Services Market Size Growing at 12.1% CAGR Set to Reach USD 19.5 Billion By 2030

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LOS ANGELES, Feb. 17, 2023 (GLOBE NEWSWIRE) — The Global Medical Device Testing Services Market Size accounted for USD 7.1 Billion in 2021 and is projected to achieve a market size of USD 19.5 Billion by 2030 rising at a CAGR of 12.1% from 2022 to 2030.

Medical Device Testing Services Market Highlights and Statistics

  • The Global Medical Device Testing Services Market size in 2021 stood at USD 7,100 Million and is set to reach USD 19,500 Million by 2030, growing at a CAGR of 12.1%
  • Growing importance of biocompatibility testing is expected to grow as the market for implantable devices and other biocompatible products expands.
  • The need for regulatory compliance is also a major driver of growth in the medical device testing services market, as manufacturers seek to ensure that their products meet stringent safety and efficacy standards.
  • Growing Focus on Quality and Reliability and increasing Demand for Customized Testing Protocols are also primary reasons why the market for Medical device testing services is growing.
  • Asia Pacific region’s medical device testing services market size stands out as the largest amongst all other regions and is expected to continue growing.

Medical Device Testing Services Market Overview

Medical device testing services are an integral component of the healthcare industry, providing critical evaluation and certification of the safety and efficacy of medical devices. These services encompass a wide range of activities, including material testing, biocompatibility, sterilization validation, and clinical trials. The medical device testing market has grown significantly in recent years, driven by the increasing demand for advanced medical technologies, as well as growing concerns regarding product safety and regulatory compliance.

One of the unique applications of medical device testing services is the development of customized testing protocols for emerging technologies, such as implantable devices, wearable devices, and point-of-care diagnostic tools. These services are utilized for the testing of complex medical devices, such as artificial organs, robotics-assisted surgical systems, and implantable drug delivery systems.

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Another key area of application is in the field of biocompatibility testing, where medical device testing services assess the compatibility of medical devices with biological systems, such as human tissues and fluids. This is crucial to ensure that medical devices do not cause harm to patients and can be used safely over an extended period.

With a focus on innovative testing protocols and a commitment to providing high-quality, reliable services, medical device testing services will continue to play a vital role in the healthcare industry.

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Medical Device Testing Services Market Report Coverage:

Market Medical Device Testing Services Market
Medical Device Testing Services Market Size 2021 USD 7.1 Billion
Medical Device Testing Services Market Forecast 2030 USD 19.5 Billion
Medical Device Testing Services Market CAGR During 2022 – 2030 12.1%  
Medical Device Testing Services Market Analysis Period 2018 – 2030
Medical Device Testing Services Market Base Year 2021  
Medical Device Testing Services Market Forecast Data 2022 – 2030
Segments Covered By Service, By Phase, And By Geography
Automotive HVAC Market Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled Medical Device Testing Services, Toxikon, Inc., American Preclinical Services LLC, SGS SA, Charles River Laboratories International, Inc., Eurofins Scientific, LLC, Sterigenics International LLC, Intertek Group PLC, North American Science Associates, Inc., WuXiAppTec Group, and Pace Analytical Services, LLC.
Report Coverage Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Trends in the Medical Device Testing Services Market

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  • Increased Demand for Advanced Testing Techniques: There is a growing demand for advanced testing techniques, such as next-generation sequencing, high-throughput screening, and microfluidics, to assess the safety and efficacy of medical devices.
  • Growing Importance of Biocompatibility Testing: Biocompatibility testing is becoming increasingly important as the market for implantable devices and other biocompatible products expands, driving demand for medical device testing services.
  • Expansion of Customized Testing Protocols: Medical device testing services are expanding their offerings to include customized testing protocols for emerging technologies, such as wearable devices, implantable devices, and point-of-care diagnostic tools.
  • Focus on Patient Safety: With an increasing focus on patient safety, medical device testing services are placing a greater emphasis on the quality and reliability of their services, driving demand for high-quality, reliable testing services.
  • Growing Regulatory Compliance Requirements: The need for regulatory compliance is driving growth in the medical device testing services market, as manufacturers seek to ensure that their products meet stringent safety and efficacy standards.

Medical Device Testing Services Market Dynamics

  • Demand for Real-World Evidence Studies: There is a growing demand for real-world evidence studies, which provide valuable data on the performance of medical devices in real-world settings.
  • Expansion of In-Vitro Testing Services: In-vitro testing is expanding as a complement to traditional in-vivo testing, providing valuable data on the safety and efficacy of medical devices without the need for animal testing.
  • Increased Collaboration with Research Institutions: Medical device testing services are increasing collaboration with research institutions to stay at the forefront of technological advancements and provide cutting-edge testing services to their clients.
  • Rising Demand for Wearable Medical Devices: The demand for wearable medical devices is driving growth in the medical device testing services market, as manufacturers seek to ensure the safety and efficacy of these devices.
  • Increased Focus on Cost-Effective Testing Solutions: Medical device testing services are focusing on providing cost-effective testing solutions to meet the needs of manufacturers operating in an increasingly competitive market.
  • Expansion of Remote Testing Services: With the increasing demand for remote services, medical device testing services are expanding their offerings to include remote testing and consultation services.

Growth Hampering Factors in the market for Medical Device Testing Services

  • Complexity of the testing process and the need for specialized equipment and expertise can be a barrier to market growth.
  • Shortage of skilled personnel in the medical device testing services market can be a hindrance to market growth, as the high level of technical expertise required for these services is difficult to find.
  • Intellectual property concerns can be a hindrance to market growth, as manufacturers may be reluctant to share proprietary information with medical device testing services.
  • Competition from low-cost providers can be a hindrance to market growth, as manufacturers may be tempted to choose lower-cost providers over higher-quality services.
  • The short product life cycles in the medical device industry can be a hindrance to market growth, as manufacturers may be reluctant to invest in testing services for products that will be replaced quickly.

Check the detailed table of contents of the report @

https://www.acumenresearchandconsulting.com/table-of-content/medical-device-testing-services-market

Market Segmentation:

By Service

  • Chemistry Test
  • Biocompatibility Test
  • Microbiology & Sterility Testing
    1. Pyrogen and Endotoxin
    2. Bio-Burden Determination
    3. Antimicrobial Activity
    4. Sterility Test and Validation
    5. Others
  • Package Validations

By Phase

  • Preclinical
    1. Medical Coatings
    2. Antimicrobial Wound Dressings
    3. Other
  • Clinical

Medical Device Testing Services Market Overview by Region

Asia-Pacific has the fastest-growing and the largest medical device testing services market share, with a high potential for growth in countries such as China and India. The region is characterized by the increasing prevalence of chronic diseases, the rapidly growing medical device industry, and the increasing investment in research and development activities. In addition, the favorable reimbursement scenario and the presence of a large pool of skilled personnel are expected to drive the growth of the market in the region.

North America has the second largest medical device testing services market share, with the United States being the largest contributor to the market. The region is characterized by high technological advancements, a large pool of skilled personnel, and a favorable reimbursement scenario. In the U.S. the market is driven by the presence of a large number of medical device manufacturers, the increasing prevalence of chronic diseases, and the growing demand for medical devices.

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Europe has the third largest market share for medical device testing services, with a significant presence of established players. The market is driven by the increasing demand for medical devices and the presence of a large number of regulatory bodies that oversee the approval and certification of medical devices. In addition, the growing awareness of the importance of medical device testing and the increasing investment in research and development activities are expected to drive the growth of the market in the region.

The Rest of the World is also expected to grow at a good pace, driven by the increasing demand for medical devices and the growing investment in research and development activities. The regions are characterized by the presence of a large number of regulatory bodies, the increasing awareness of the importance of medical device testing, and the favorable reimbursement scenario.

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Medical Device Testing Services Market Key Players

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The Medical Device Testing Services Market is highly competitive with a significant presence of both global and local players. Some of the leading players in the market include Intertek, SGS, TÜV SÜD, Bureau Veritas, BSI, UL LLC, DEKRA, ALS Limited, Eurofins Scientific, Element Materials Technology, TUV Nord, TUV Rheinland, CSA Group, CERTIFIED LABS, Applus+, IST METZ, TUV India, NEMKO, and SAI Global. These players offer a wide range of medical device testing services, including regulatory testing, performance testing, biocompatibility testing, and safety testing. The market is highly fragmented with a significant presence of both established players and new entrants, making it a highly dynamic and competitive market.

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Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

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Artificial Intelligence

TraceLink Releases Amadeus, the First Generative AI Assistant for Accelerating the Digitalization of Supply Networks on the Opus Platform

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Trained on a rich set of information from a unified content repository, Opus Orchestration Architects, Solution Designers, Network Administrators, and those simply interested in learning more about TraceLink’s solutions are empowered with information in seconds
BOSTON, Oct. 1, 2024 /PRNewswire/ — TraceLink, the largest end-to-end digital network platform for intelligent orchestration of the supply chain, today announced the launch of Amadeus, an AI Assistant to help users across the supply chain configure and optimize supply networks. Powered by advanced Large Language Model (LLM) algorithms, Amadeus allows users to find answers across a large volume of the TraceLink University educational content ecosystem, including developer resources, educational “how-to” materials, and technical documentation, delivering detailed, accurate responses tailored to their needs.

Whether navigating through extensive resources, searching for specific content, or exploring related topics, Amadeus provides intelligent answers drawn from a knowledge base refreshed on a daily basis. Its advanced search capabilities and context-aware assistance with source URL and citations ensure a smooth, reliable, current, and efficient content discovery process. With instant access to TraceLink University documents, educational whitepapers, case studies, and more, Amadeus delivers quick, within-seconds responses tailored to specific customer use cases, helping users solve complex business problems with confidence.
“With Amadeus, we are offering a powerful way for customers to engage with the wealth of knowledge within TraceLink University,” said Shabbir Dahod, President and CEO at TraceLink. “By integrating generative AI and LLMs with our extensive content library, Amadeus helps users to quickly find the information they need to optimize their supply chain operations. This is just the beginning of how TraceLink aims to harness AI to further transform supply chain management in the future.”
Amadeus’ AI functionality is further enriched by its robust safeguards. Built-in guardrails and alignment with OpenAI’s safety protocols verify that responses are relevant and accurate, eliminating AI hallucinations and keeping users on track. With these AI safety features built into Amadeus, users receive the most applicable and trusted answers, helping them make informed decisions in real-time. Looking forward, Amadeus will securely integrate content from customers’ own orchestration networks, thereby enabling a powerful AI-driven experience on top of end-to-end supply chain network intelligence to leverage predictions to drive business results.
Learn more about TraceLink’s Opus Magnum release, the only no-code network digitalization platform designed to democratize access to end-to-end supply chain integration and orchestration.
See Opus Magnum live at FutureLink Barcelona 2024, the only thought-leadership, education, and networking event for life sciences and healthcare leaders needing critical intelligence and better collaboration across supply chain relationships, from October 2-4, 2024. With keynotes headlined by the industry’s top thought leaders, a full day of TraceLink University educational sessions, three orchestration tracks led by customers and solution partners, and an immersive product and solution exhibition, this year’s FutureLink will focus on the end-to-end digitalization of your supply chain to link your enterprise systems and processes to the network. Register now.
About TraceLink:
TraceLink Inc. is the largest end-to-end intelligent supply chain platform for life sciences and healthcare, enabling end-to-end orchestration by connecting more than 291,000 healthcare and life sciences entities through its B2N Integrate-Once™ network. Leading businesses trust TraceLink to deliver complete global connectivity, visibility, and traceability of healthcare products, ensuring that every patient gets the medicines they need when needed, safely and securely.
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Artificial Intelligence

ResourceWise Launches Forest Trackt™: A Comprehensive Solution for EUDR Compliance

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CHARLOTTE, N.C, Oct. 1, 2024 /PRNewswire/ — ResourceWise®, a leading provider of pricing, market intelligence and sustainability solutions, is proud to announce the launch of Forest Trackt™, an end-to-end compliance solution designed to help companies adhere to the European Union Deforestation Regulation (EUDR). This innovative technology is set to transform how businesses demonstrate supply chain transparency.

Forest Trackt integrates advanced technology, including automated geo-location of source coordinates, machine learning, and advanced algorithms, to enable businesses to trace the origins of wood-based commodities accurately. Forest Trackt enhances transparency across the supply chain, providing a robust framework for meeting the stringent requirements of the EUDR.
Key features of Forest Trackt include:
Geo-Location Data Acquisition: Employs the user-friendly ForestLogger mobile app to collect precise geo-location data with no cellular connection. This ensures accurate and efficient data gathering and polygon definition, even in remote areas.Point-to-Polygon JSON Files: Automates the creation of required geo-location data files to comply with EUDR. One significant challenge for EUDR compliance is the requirement to provide vast amounts of geo-location data. Forest Trackt replaces manual data entry, reducing cost and errors while providing more accurate data and ensuring full traceability of wood-based products.Predictive Risk Assessment: Offers multi-factor risk assessment to pre-qualify tracts, conduct the required risk assessment, and demonstrate a robust risk management program as required by EUDR.Tokenization System: Tracks wood-based raw materials from the forest through the supply chain to the end product and market, solving the many-to-many problem of forest and sawmill residuals.Centralized Data Package Delivered to the EU: Transfers all data from a centralized database to the EU via API.Forest Trackt is engineered to streamline compliance, minimizing manual workload while maximizing compliance accuracy and assuring audit readiness. Businesses that adopt this solution can look forward to increased efficiency and reduced risk of non-compliance penalties, thus future-proofing themselves against evolving regulatory landscapes.
“The penalties for failing to comply with EUDR are steep. For example, US manufacturers of pellets, pulp, paper, and lumber have roughly $4 billion in revenue at risk. At ResourceWise, we recognize the challenges companies face in implementing transparency standards,” said Pete Stewart, CEO of ResourceWise. “With Forest Trackt, we aim to simplify compliance processes and empower businesses to achieve their sustainability goals with confidence and ease.”                                                                             
“The regulatory environment for the forest products industry is becoming more complex,” said Stewart. “With the launch of Forest Trackt, ResourceWise continues its commitment to helping those in the forest products industry meet their financial and sustainability goals.”
For more information about Forest Trackt and how it can benefit your business, visit www.resourcewise.com/foresttrackt.
Contact:
Suz-Anne KinneyVice President, MarketingResourceWisePhone: +1 704 451 7312Email: [email protected]
About ResourceWise:
ResourceWise is a commodity price reporting agency with proprietary datasets and deep expertise in forest products, biofuels and low-carbon feedstocks, biomaterials, and chemicals industries. We help our customers make better decisions by providing accurate data and analytics, which we supplement with strategic consulting. Because our markets are energy-intensive, we use our data and expertise to help our customers identify and navigate decarbonization pathways and industry-related regulatory requirements. 
ResourceWise legacy companies include Chemical Intelligence, Fisher International, Forest2Market, Prima Markets, Tecnon OrbiChem, and Wood Resources International.  

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Artificial Intelligence

VIPRE Introduces All-in-one Endpoint EDR+MDR Package to Help Deliver Around-the-clock Managed Security

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Simplified, cost-effective package empowers Managed Service Providers to enter the endpoint MDR market.
LONDON, Oct. 1, 2024 /PRNewswire/ — VIPRE Security Group, a global leader and award-winning cybersecurity, privacy, and data protection company, today launched a new combined VIPRE Endpoint EDR+MDR package. This single, simplified, and streamlined managed protection package provides organisations of all sizes with cost-effective, advanced, and around-the-clock endpoint security. For managed service providers (MSPs), this solution provides a genuine opportunity for portfolio expansion to offer Managed Detection & Response (MDR) services to customers.

With this powerful all-in-one VIPRE Endpoint EDR+MDR solution, organisations receive top-tier Endpoint Detection & Response (EDR) capabilities, such as threat detection, DNS protection, ransomware rollback, patch, and vulnerability management — alongside a fully managed threat incident response led by an experienced forensics team. This includes 24x7x365 coverage backed by stringent service level agreement guarantees, managed containment and remediation, threat hunting and forensic analysis, and more.
“This new packaged solution directly addresses the security and budgetary challenges identified by our customers and MSP channel partners,” Usman Choudhary, General Manager and CTPO at VIPRE Security Group, elaborated. “The security landscape is complex and challenging. Organisations face escalating threats while dealing with budget limitations. The need for continuous, advanced threat monitoring and remediation strains both security teams and financial resources. Our integrated EDR and MDR solution addresses these challenges cost-effectively, while also reducing the overall total cost of ownership of these solutions.”
“Similarly, many MSPs find it difficult to supplement their EDR offerings with MDR services, which demand specialised cybersecurity expertise. Our new package enables MSPs to enter the MDR market efficiently, enabling them to meet clients’ evolving security needs without the substantial investment of building an in-house MDR team.”
Both VIPRE solutions, EDR and MDR, will also remain available individually.
About VIPRE Security Group
VIPRE Security Group, part of Ziff Davis, Inc., is a leading provider of internet security solutions purpose-built to protect businesses, solution providers, and home users from costly and malicious cyber threats. With over 25 years of industry expertise, VIPRE is one of the world’s largest threat intelligence clouds, delivering exceptional protection against today’s most aggressive online threats. Our award-winning software portfolio includes next-generation antivirus endpoint cloud solutions, advanced email security products, along with threat intelligence for real-time malware analysis, and security awareness training for compliance and risk management. VIPRE solutions deliver easy-to-use, comprehensive layered defense through cloud-based and server security, with mobile interfaces that enable instant threat response. VIPRE is a proud Advanced Technology Partner of Amazon Web Services, operating globally across North America and Europe.
The group operates under various brands, including VIPRE®, StrongVPN®, IPVanish®, Inspired eLearning®, Livedrive®, and SugarSync®. www.VIPRE.com
 

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