According to the latest report published by Credence Research, Inc. “Medical Device Analytical Testing Services Market – Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global medical device analytical testing services market was valued at US$ 2,869.3 Mn in 2016, and is expected to reach US$ 7,831.9 Mn by 2025, expanding at a CAGR of 11.7% from 2017 to 2025.

Browse the full report Medical Device Analytical Testing Services Market – Growth, Future Prospects and Competitive Analysis, 2017–2025 at http://www.credenceresearch.com/report/medical-device-analytical-testing-services-market

Market Insights                                                  

As the latest medical devices are becoming more complex in nature, the need for appropriate and prompt testing to check compliance with the regulatory requirements is becoming more prominent. Introduction of combination devices, personalized medicine, remote and continuous patient monitoring has further urged the need for precise testing of medical devices. To meet the requirement of enhanced accuracy, ease of use and durability, medical devices are needed to undergo extensive testing and examinations thus delivering competitive advantage to device manufacturers. Growing pressure to contain overall device development costs and avoid the risk of device recalls, manufacturers are increasingly outsourcing testing activities to third party entities.

Products such as implantable medical device and drug-device combination solutions are being increasingly adopted worldwide to improve overall health and wellbeing. Manufacturers of such devices are required to focus on core competencies such as innovation and therefore outsource other activities to contract service providers. Among the various medical device testing services, material characterization services capture almost 20% of the global market in 2016 and is expected to retain its dominance through the forecast period. Other tests such as biological indicator testing, endotoxin testing, elemental metal testing, ethylene oxide testing, and validation for packaging materials, etc. are anticipated to undergo the fastest demand during the forecast period. Techniques such as gas and ion chromatography, HPLC, optical emission chromatography, etc. are frequently used for testing medical devices.

Geographically, North America, and particularly the U.S. is the largest market for medical device analytical testing services. Domicile of a huge section of medical device companies and corresponding service providers and being the pioneer in introducing the most complex and novel devices makes the region the market leader. In addition, commercialization and manufacturing of medical devices is the highest in the region, thereby necessitating the companies to outsource their testing activities to third party service providers in order to ensure optimum product safety and fewer recalls.

Additionally, Asia Pacific is anticipated to be the fastest progressing regional market for medical device analytical testing services. Asia Pacific is the hub for healthcare outsourcing and newer players are being perpetually added to the current list. Improvement in healthcare infrastructure, emergence of new medical device manufacturers, and growing government support for such initiatives. Existence of huge patient base looking for affordable treatment options further augments the opportunities in the region.

Expansion of service portfolio is the major focus area of the market players. In order to achieve this, the market players are intensifying their activities by acquiring new, and small players with unique service offering. The major players in the global medical device analytical testing services market include but are not limited to Avomeen Analytical Services, Charles River Laboratories International, Inc., EAG, Inc., Envigo, Eurofins Scientific, Intertek Group plc, IMR Test Labs, Medical Device Testing Services, North American Science Associates, Inc., NSF International, Pace Analytical Services LLC., SGS SA, Toxikon, Inc., Wuxi AppTec and others.

Browse the full report Medical Device Analytical Testing Services Market – Growth, Future Prospects and Competitive Analysis, 2017–2025 at http://www.credenceresearch.com/report/medical-device-analytical-testing-services-market

A medical device is any apparatus, appliance, software, material, or other article—whether used alone or in combination, including the software intended by its manufacturer to be used specifically for diagnostic and/or therapeutic purposes and necessary for its proper application—intended by the manufacturer to be used for human beings for the purpose of:

Diagnosis, prevention, monitoring, treatment, or alleviation of disease;

Diagnosis, monitoring, treatment, alleviation, or compensation for an injury or handicap;

Investigation, replacement, or modification of the anatomy or of a physiological process;

Control of conception; and which does not achieve its principal intended action in or on the human body by pharmacological, immunological, or metabolic means, but which may be assisted in its function by such means

Medical devices vary according to their intended use and indications. Examples range from simple devices such as tongue depressors, medical thermometers, and disposable gloves to advanced devices such as computers which assist in the conduct of medical testing, implants, and prostheses. Items as intricate as housings for cochlear implants are manufactured through the deep drawn and shallow drawn manufacturing processes. The design of medical devices constitutes a major segment of the field of biomedical engineering. Analytical skill is the ability to visualize, articulate, conceptualize or solve both complex and uncomplicated problems by making decisions that are sensible given the available information. Such skills include demonstration of the ability to apply logical thinking to breaking complex problems into their component parts[clarification needed].In 1999, Richards J. Heuer Jr., explained that: “Thinking analytically is a skill like carpentry or driving a car. It can be taught, it can be learned, and it can improve with practice. But like many other skills, such as riding a bike, it is not learned by sitting in a classroom and being told how to do it. Analysts learn by doing.”

To test for analytical skills one might be asked to look for inconsistencies in an advertisement, put a series of events in the proper order, or critically read an essay[citation needed]. Usually standardized tests and interviews include an analytical section that requires the examiner to use their logic to pick apart a problem and come up with a solution. Source: Wikipedia

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