PUNE, India, December 8, 2017 /PRNewswire/ --
According to the new research report "Medical Device Testing Market by Services (Testing, Inspection, Certification), Sourcing (In-house, Outsourced), Class (Class I, Class II, Class III), Technology (Active Implant, IVD, Orthopedic & Dental, Ophthalmic, Vascular) - Global Forecast to 2023", published by MarketsandMarkets™, the market size is expected to be USD 12.26 Billion by 2023, growing at a CAGR of 6.18% from USD 8.56 Billion in 2017. The market growth is mainly driven by an increasing need of validation and verification (V&V) for medical device, and imposition of rigorous government regulations and standards across medical devices.
(Logo: http://photos.prnewswire.com/prnh/20160303/792302 )
Browse 67 market data Tables and 59 Figures spread through 186 Pages and in-depth TOC on "Medical Device Testing Market - Global Forecast to 2023"
Early buyers will receive 10% customization on this report
Medical device testing market for testing services held the largest market share in 2016
Increasing regulatory focus on quality control for manufacturing operations, on additional safety, testing, and reporting measures requires advanced test equipment and instrumentation on-site in manufacturing facilities and laboratories. The accuracy of test results depends largely on the accuracy of test and measurement instruments, used for a particular test process. There is an increasing demand for TIC services in medical devices, owing to the growing demand for good quality and standard products across the industry.
Medical device testing market for outsourced services is expected to grow at the highest CAGR during the forecast period
Many large firms are increasingly outsourcing medical device testing, inspection, and certification services, as stringent regulations drive the cost to conduct test in-house. As a result, outsourcing TIC services helps manufacturers reduce the overall cost of testing. Demand for outsourcing TIC services to third-party vendors is increasing for applications, such as consumer goods and manufacturing owing to the capital-intensive nature of in-house TIC activities.
Download PDF Brochure : https://www.marketsandmarkets.com/pdfdownload.asp?id=254474064
Medical device testing market for IVD medical devices held the largest share in 2016
The marketplace witnesses rapid growth, driven by technological advancements, better diagnostic tools, improved treatment monitoring, and increased availability of over-the-counter tests. IVD adds significant value to the treatment process and medical diagnosis, which simultaneously increases the well-being of the public health.
North America accounted for the largest share of the medical device testing market in 2016
In North America, the US is the leading country in medical devices in terms of awareness among the users about the safety and security of medical devices. The federal government established medical devices regulating agencies, such as FDA.
Inquiry Before Buy @ https://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=254474064
SGS (Switzerland), Bureau Veritas (France), Intertek (UK), and DEKRA (Germany), and TÜV SÜD (Germany) are the major players covered in the report with market share analysis. The report also covers various innovators, such as Avomeen Analytical Services (US), Medistri (Switzerland), and Envigo (UK).
Browse Related Reports
Testing, Inspection, and Certification (TIC) Market by Service Type (Testing, Inspection, Certification), Sourcing Type (In-house and Outsourced), Application (Consumer Goods & Retail, Agriculture & Food, Chemicals), and Geography - Global Forecast to 2023
Aerospace & Life Sciences Testing, Inspection, and Certification Market by Service Type (Testing, Inspection, Certification), Sourcing Type (In-house, Outsourced), Application (Aerospace, Medical & Life Sciences), and Geography - Global Forecast to 2023
Subscribe Reports from Semiconductor & Electronic Domain @ http://www.marketsandmarkets.com/Knowledgestore.asp
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
630 Dundee Road
Northbrook, IL 60062
Connect us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets