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Global Medical Device Testing and Certification Market Report 2023: Sector is Expected to Reach $13.5 Billion by 2030 at a CAGR of 4.3%

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Dublin, May 17, 2023 (GLOBE NEWSWIRE) — The “Medical Device Testing and Certification Market, By Service Type, By Sourcing Type, By Device Class, By Technology, and By Geography – Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.

Medical device testing and certification is necessary to ensure safety and effectiveness of medical devices. The U.S. follows the Food and Drug Administration (FDA) guidelines, Canada needs the Health Canada Registration, Europe considers Conformite Europeenne (CE) approval, and India need approval from the Central Drugs Standard Control Organisation (CDSCO).

Market Dynamics:

Rise in focus on the medical device testing and certification, stringent government regulations, rise in integration of Artificial Intelligence (AI) and Internet of Things (IoT) in medical devices, and the outbreak of COVID-19 are major factors expected to drive growth of the global medical device testing and certification market during the forecast period.

For instance, in January 2022, TUV SUD expanded its medical device testing laboratory in New Brighton, Minnesota. The state-of-the-art laboratory will offer an end-to-end testing solution for all medical devices and will also provide a wide range of biological and chemical testing of medical devices that complements TUV SUD’s current active medical device testing capabilities.

Key Attributes:

Report Attribute Details
No. of Pages 172
Forecast Period 2023 – 2030
Estimated Market Value (USD) in 2023 $10073.4 Million
Forecasted Market Value (USD) by 2030 $13550.8 Million
Compound Annual Growth Rate 4.3%
Regions Covered Global

Key features of the study:

  • This report provides in-depth analysis of the global medical device testing and certification market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2023-2030), considering 2022 as the base year.
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
  • It profiles key players in the global medical device testing and certification market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
  • The global medical device testing and certification market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global medical device testing and certification market.

Detailed Segmentation:

Global Medical Device Testing and Certification Market, By Service Type

  • Testing Services
  • Inspection Services
  • Certification Services

Global Medical Device Testing and Certification Market, By Sourcing Type

  • In-house
  • Outsourced

Global Medical Device Testing and Certification Market, By Device Class

  • Class I
  • Class II
  • Class III

Global Medical Device Testing and Certification Market, By Technology

  • Active Implant Medical Device
  • Active Medical Device
  • Non-Active Medical Device
  • In-Vitro Diagnostic Medical Device
  • Ophthalmic Medical Device
  • Orthopedic and Dental Medical Device
  • Vascular Medical Device
  • Other Technologies

Global Medical Device Testing and Certification Market, By Geography

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Company Profiles

  • Medistri SA
  • BSI Group
  • Ente Certificazione Macchine
  • GMED
  • IMQ Group SRL
  • TOXIKON
  • TUV SUD
  • WuXi AppTec
  • Pace Analytical Services LLC
  • Gateway Analytical LLC
  • Boston Analytical
  • Bureau Veritas
  • UL LLC
  • TUV Rheinland
  • SGS SA
  • Intertek Group PLC
  • Eurofins Scientific
  • Element Materials Technology
  • Dekra Testing and Certification GmbH
  • Institute for testing and Certification Inc.

For more information about this report visit https://www.researchandmarkets.com/r/psm80f

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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Artificial Intelligence

Cato Unveils Industry First AI-driven Networking and Security Incident Detection and Response

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Cato AI now detects and identifies root cause of networking incidents, reducing outages from hours to minutes.
TEL AVIV, Israel, March 19, 2024 /PRNewswire/ — Cato Networks, the leader in SASE, announced the addition of network incident detection and response tools to the Cato SASE Cloud platform. With Network Stories for Cato XDR, advanced AI algorithms instantly identify outages in customer networks and conduct root cause analysis. NOC and SOC teams now have a common platform for improved collaboration and channel partners can quickly bring NOC-as-a-service (NOCaaS) offerings to market.

“With our converged security and networking platform, we leverage advances in one domain, in this case security, to help another domain — networking,” says Shlomo Kramer, CEO and co-founder of Cato Networks. “Our security-trained AI has now been expanded to help NOC teams become smarter, faster, and more proactive than ever. This is the value of a true SASE platform.”
Element Solutions, Inc. (ESI), a leading specialty chemicals company, relies on Cato SASE Cloud to connect and secure 118 locations and cloud instances, and nearly 4,000 remote users with Cato’s NGFW, threat prevention (NGAM, SWG, and IPS), and application protection (CASB).
“We’re very excited about what we’re seeing in Cato’s Network Stories. It’ll save us the time normally spent hunting around other tools and that’s a big deal,” says Brandon Benchley, senior network engineer at ESI. The company’s three-person network team is responsible for all site designs, deployments, switches, and upgrades. “We handle all the network operations, engineering, and planning for locations and Azure. It’s a lot. Cato Network Stories should solve a key pain point for us.”
Cato Network Stories: Slashing Downtime for Enterprises Everywhere
Network outages continue to disrupt enterprise operations. Network and connectivity-related issues accounted for nearly a third of IT outages and 53% of major outages caused by third-party IT providers.1 Even with Cato and its managed private backbone, network outages and slowdowns can occur in the last-mile or customer networks.
Diagnosing network incidents requires NOC teams to sift through and correlate a flood of network alerts. Too often, outages begin as unreported line degradations or occur after hours, extending their impact on the organization.
With Network Stories for Cato XDR, AI algorithms trained for threat detection now collect and analyze network signals and incidents to identify the root cause behind blackouts, downed links, BGP session disconnects, SLA issues, and other network incidents. Cato AI triages those incidents by criticality, empowering network operations teams to focus critical resources on an organization’s most important cases.
Once NOC teams act, Cato provides them with a complete set of incident response tools. Generative AI summarizes Network Stories into human-readable explanations. Cato Playbooks enable NOC teams to understand what happened and how to remediate those incidents. 
When Cato Support adopted Networks Stories last-mile packet loss identification became nearly instantaneous, instead of customers taking several days to report an outage. The average root cause analysis time dropped by 30% to under 35 minutes.
Cato: The First SASE-based Platform for SOC and NOC Teams
Cato enables tighter SOC-NOC collaboration, improving efficiency and service quality. In Cato’s recent 2023 SASE Adoption Survey, 82% of respondents indicated that security and networking teams were consolidating or had a management directive to improve collaboration.
“In an environment where any part of the network might be a key component of the security infrastructure, and any anomalous event could require a comprehensive network AND security response, the convergence of the NOC and the SOC makes more sense than ever,” writes John Burke, CTO of Nemertes, an industry consultancy. 
With Cato, the root-cause analysis conducted in one area benefits the other. Collaboration is improved by sharing a common toolset, speaking a common language, and having a common reference point. With Cato RBAC+ rules,  fine-grained access controls enable IT to determine what information and capabilities team members can view and change.
To learn more about Cato Networks, Network Stories, and the power of Cato XDR, visit Extended Detection and Response (XDR).
1Uptime Institute, Annual outages analysis 2023: The cause and impacts of IT and data center outages,
About Cato Networks
Cato Networks is the leader in SASE, delivering enterprise security and networking in a single cloud platform. With Cato, organizations replace costly and rigid legacy infrastructure with an open and modular SASE architecture based on SD-WAN, a purpose-built global cloud network, and an embedded cloud-native security stack. 
Want to learn why thousands of organizations secure their future with Cato? Visit us at www.catonetworks.com .  
 

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Online Retail Penetration Remains Low for Grocery, While Consumer Electronics is Set to See 50% of all Sales from Online Channels in Coming Years

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NEW YORK, March 19, 2024 /PRNewswire/ — Following turbulent years for retail, omnichannel has become the primary focus for large and small retailers alike. Retail stores and employee numbers look set to decrease across most segments as retailers introduce new store technologies and invest in alternative fulfillment methods. According to global technology intelligence firm ABI Research, retail stores will fall at a CAGR of -1.8% and -0.9% in North America and Europe, respectively. At the same time, retail employee numbers in North America will fall at a CAGR of -2.6% to 2030, while retail stores in Europe look set to fall at a CAGR of -0.9% in the same period, with the drop much higher in the region’s major economies.

“Online retail had its boom in the wake of the pandemic, but in-store retail has made a strong comeback, and consumers are demanding a complimentary blend of both online offerings and enhanced in-store experiences. Retailers of all sizes realize the need to master both and are dedicating significant investment to technologies that can facilitate an omnichannel strategy,” explains Ryan Wiggin, Supply Chain Management & Logistics Industry Analyst at ABI Research.
While a rise in online retail and declining store footprints is apparent across all major economies in North America and Europe, the magnitude of this change varies across countries and retail segments. For example, online retail has surpassed 30% of all sales in the UK, while Italy sits much lower at just over 11%. Food and grocery hold a relatively low online sales penetration rate across all countries assessed, ranging from 3-13%. In contrast, online sales for segments such as apparel and electronics take up a much larger proportion of total sales, even looking set to surpass 50% of all sales by 2030 in certain countries.
Retailers such as Sephora, Nordstrom, Home Depot, and Walmart are leading the charge for omnichannel shopping. They are digitally connecting their different means of fulfillment to improve the overall customer experience and drive sales.
“While an assessment of retail stores and employees paints a negative growth picture, it’s important to remember that is because of restructuring, not declining retail growth. ABI Research forecasts that retailers will be among the highest spenders on advanced technology over the coming years, optimizing in-store and delivery operations and bringing new ways of shopping to the consumer,” concludes Wiggin.
These findings are from ABI Research’s Retail in North America and Europe: Stores, Employees, and Online-Retail market data report. This report is part of the company’s Supply Chain Management and Logistics research service, which includes research, data, and ABI Insights. Market Data spreadsheets comprise deep data, market share analysis, and highly segmented, service-specific forecasts to provide detailed insight into where opportunities lie.
About ABI Research
ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.
ABI Research是一家全球性的技术情报公司,拥有得天独厚的优势,充当终端市场公司和技术解决方案提供商之间的桥梁,通过提供独家研究和专业性指导,推动成功的技术实施和提供经证明可吸引和留住客户的战略,无缝连接这两大主体。
For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
Contact Info: 
GlobalDeborah PetraraTel: +1.516.624.2558 [email protected] 
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LOCUS ROBOTICS NAMED ONE OF FAST COMPANY’S MOST INNOVATIVE COMPANIES OF 2024

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Leading Warehouse Automation Provider Recognized for Its Groundbreaking LocusOne Robotics Orchestration Platform
WILMINGTON, Mass., March 19, 2024 /PRNewswire/ — Locus Robotics, the global leader in autonomous mobile robots (AMRs) for warehouse automation, today announced it has been named one of Fast Company’s Most Innovative Companies of 2024. The company was recognized for its groundbreaking LocusOne robotics orchestration platform, which is revolutionizing warehouse operations by seamlessly orchestrating large, diverse fleets of AMRs using AI and real-time data analytics.

This year’s list shines a spotlight on businesses that are shaping industry and culture through their innovations. These organizations are setting new standards and achieving remarkable milestones in all sectors of the economy. Alongside the World’s 50 Most Innovative Companies, Fast Company recognizes 606 organizations across 58 sectors and regions.
LocusOne represents a paradigm shift in warehouse automation, redefining how businesses manage their material movement needs while optimizing productivity, efficiency and sustainability. By seamlessly blending cutting-edge robotics, AI, data science and smart orchestration, the platform enables warehouses to dynamically coordinate heterogenous AMR fleets to handle any job – from delicate picking to heavy payload transport – while boosting productivity 2-3x.
“We are honored to be recognized by Fast Company as one of the world’s most innovative companies for our revolutionary LocusOne technology,” said Rick Faulk, CEO of Locus Robotics. “The Locus Solution is transforming the logistics industry by accelerating digital transformation through AI-driven, real-time robotics orchestration. This prestigious award validates our commitment to innovation that drives quantifiable business value for our customers worldwide.”
Kait Peterson, Sr. Director of Product Marketing at Locus Robotics, added: “In today’s fast-paced fulfillment environment, warehouses require flexibility, scalability and predictive intelligence to optimize their operations. LocusOne’s ability to coordinate diverse robot types as a single, cohesive unit, while generating actionable business insights through advanced data analytics, is truly pioneering. We are delighted that Fast Company has recognized the transformative impact of our solutions.”
Fast Company’s editors and writers identified the companies driving progress around the world and across industries, evaluating thousands of submissions through a competitive application process. The result is a globe-spanning guide to innovation today, from early-stage startups to some of the most valuable companies in the world.
“Our list of the Most Innovative Companies is both a comprehensive look at the innovation economy and a snapshot of the business trends that defined the year,” said Fast Company editor-in-chief Brendan Vaughan. “We saw extraordinary innovation across the board in 2023, but we also saw a handful of clear patterns: the growing footprint and impact of AI, the triumphant return of live events, and great leaps forward in climate tech. We face daunting challenges on many fronts, but the solutions we celebrate in MIC give me plenty of hope about the future.”
The LocusOne platform is deployed in over 300 sites across 18 countries, powering digital transformation for some of the world’s largest logistics operations. Locus’s data-driven autonomous robotics solutions are delivering proven benefits including 80% reduction in workplace injuries, increased worker satisfaction and morale, seamless scalability, and a significantly reduced environmental footprint.
ABOUT LOCUS ROBOTICS
Locus Robotics’ revolutionary, multi-bot solution incorporates powerful and intelligent autonomous mobile robots that operate collaboratively with human workers to dramatically improve piece-handling productivity 2-3x, with less labor compared to traditional piece-handling systems. This multiple award-winning solution helps solve the challenges companies across multiple industries face – labor shortages, costly and inefficient-to-operate systems, and inflexible processes – allowing brands to easily meet higher throughput requirements and easily adapt to volume changes in any operation.
ABOUT FAST COMPANY
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com. 
For information or inquiries about Locus Robotics:
Kary ZateSr. Director Marketing [email protected] +1-774-249-4477
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