The global medical device testing services market is expected to reach $13.4 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a compound annual growth rate of 11.5% during the forecast period. Increasing spending in the preclinical phase of medical devices, coupled with the growing outsourcing rate, is anticipated to help the market gain significant traction.
What’s more, surging demand for in-vitro test is also projected to fuel demand for testing services as many contract research organizations are developing novel in-vitro methods to replace traditional in-vivo methods, which require animal testing. Improvements in procedures for development and standardization of novel in vitro test methods, particularly for sensitization, cytotoxicity, and irritation, are also working in favor of the market.
Plus, there has been a significant increase in preclinical spending for both pharmaceutical and medical devices. This trend is estimated to contribute to the demand for testing services by medical device companies.
Finally, stringent regulatory standards pertaining to user safety are supporting the growing trend of outsourcing medical device testing services. And increasing demand for good quality products is poised to further trigger the demand for testing services by medical device companies. After all, these companies are constantly trying to comply with stringent regulatory norms put forth by authorities across the globe.
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