Medical Device Validation and Verification Market Size, Trends, Analysis, and Outlook By Therapeutic Area (Cardiovascular, Dermatology, Orthopedics, Nephrology, Respiratory, Neurology, Oncology, ENT, Others), By Application (Diagnostics, Therapeutic, Implants), By Technology (Mechanical testing, Biological, EMC/ECI, Electrical safety testing), by Region, Country, Segment, and Companies, 2024-2030

March 2024 | 190 pages | ID: MDBA3F48A5EEEN
VPAResearch

Abstracts

The global Medical Device Validation and Verification market size is poised to register 10.5% growth from 2024 to 2030, presenting significant growth prospects for companies operating in the industry. The industry study analyzes the global Medical Device Validation and Verification market across By Therapeutic Area (Cardiovascular, Dermatology, Orthopedics, Nephrology, Respiratory, Neurology, Oncology, ENT, Others), By Application (Diagnostics, Therapeutic, Implants), By Technology (Mechanical testing, Biological, EMC/ECI, Electrical safety testing).

The Medical Device Validation and Verification Market is witnessing growth driven by the increasing complexity of medical devices and the regulatory requirements mandating thorough validation and verification processes to ensure safety, efficacy, and compliance. Validation and verification activities involve assessing and confirming that medical devices meet specified requirements and perform as intended throughout their lifecycle. Key trends shaping its future include the adoption of risk-based validation approaches and lifecycle management strategies to prioritize critical functions and features, the integration of automated testing tools and simulation technologies for efficient and comprehensive testing, and the outsourcing of validation and verification services to specialized testing laboratories and contract service providers. Moreover, factors such as the globalization of medical device markets, the convergence of regulatory frameworks, and the advancements in testing methodologies and standards are expected to drive market growth in 2024 and beyond.

Medical Device Validation and Verification Market Drivers, Trends, Opportunities, and Growth Opportunities

This comprehensive study discusses the latest trends and the most pressing challenges for industry players and investors. The Medical Device Validation and Verification market research analyses the global market trends, key drivers, challenges, and opportunities in the industry. In addition, the latest Future of Medical Device Validation and Verification survey report provides the market size outlook across types, applications, and other segments across the world and regions. It provides data-driven insights and actionable recommendations for companies in the Medical Device Validation and Verification industry.

Key market trends defining the global Medical Device Validation and Verification demand in 2024 and Beyond

The industry continues to remain an attractive hub for opportunities for both domestic and global vendors. As the market evolves, factors such as emerging market dynamics, demand from end-user sectors, a growing patient base, changes in consumption patterns, and widening distribution channels continue to play a major role.

Medical Device Validation and Verification Market Segmentation- Industry Share, Market Size, and Outlook to 2030

The Medical Device Validation and Verification industry comprises a wide range of segments and sub-segments. The rising demand for these product types and applications is supporting companies to increase their investment levels across niche segments. Accordingly, leading companies plan to generate a large share of their future revenue growth from expansion into these niche segments. The report presents the market size outlook across segments to support Medical Device Validation and Verification companies scaling up production in these sub-segments with a focus on expanding into emerging countries.

Key strategies adopted by companies within the Medical Device Validation and Verification industry

Leading Medical Device Validation and Verification companies are boosting investments to capitalize on untapped potential and future possibilities across niche market segments and surging demand conditions in key regions. Further, companies are leveraging advanced technologies to unlock opportunities and achieve operational excellence. The report provides key strategies opted for by the top 10 Medical Device Validation and Verification companies.

Medical Device Validation and Verification Market Study- Strategic Analysis Review

The Medical Device Validation and Verification market research report dives deep into the qualitative factors shaping the market, empowering you to make informed decisions-

• Industry Dynamics: Porter's Five Forces analysis to understand bargaining power, competitive rivalry, and threats that impact long-term strategy formulation.
• Strategic Insights: Provides valuable perspectives on key players and their approaches based on comprehensive strategy analysis.
• Internal Strengths and Weaknesses: Develop targeted strategies to leverage strengths, address weaknesses, and capitalize on market opportunities.
• Future Possibilities: Prepare for diverse outcomes with in-depth scenario analysis. Explore potential market disruptions, technology advancements, and economic changes.

Medical Device Validation and Verification Market Size Outlook- Historic and Forecast Revenue in Three Cases

The Medical Device Validation and Verification industry report provides a detailed analysis and outlook of revenue generated by companies from 2018 to 2023. Further, with actual data for 2023, the report forecasts the market size outlook from 2024 to 2030 in three case scenarios- low case, reference case, and high case scenarios.

Medical Device Validation and Verification Country Analysis and Revenue Outlook to 2030

The report analyses 22 countries worldwide including the key driving forces and market size outlook from 2021 to 2030. In addition, region analysis across Asia Pacific, Europe, the Middle East, Africa, North America, and South America is included in the study. For each of the six regions, the market size outlook by segments is forecast for 2030.

North America Medical Device Validation and Verification Market Size Outlook- Companies plan for focused investments in a changing environment

The US continues to remain the market leader in North America, driven by a large consumer base, the presence of well-established providers, and a strong end-user industry demand. Leading companies focus on new product launches in the changing environment. The US economy is expected to grow in 2024 (around 2.2% growth in 2024), potentially driving demand for various Medical Device Validation and Verification market segments. Similarly, Strong end-user demand is encouraging Canadian Medical Device Validation and Verification companies to invest in niche segments. Further, as Mexico continues to strengthen its trade relations and invest in technological advancements, the Mexico Medical Device Validation and Verification market is expected to experience significant expansion, offering lucrative opportunities for both domestic and international stakeholders.

Europe Medical Device Validation and Verification Market Size Outlook-Companies investing in assessing consumers, categories, competitors, and capabilities

The German industry remains the major market for companies in the European Medical Device Validation and Verification industry with consumers in Germany, France, the UK, Spain, Italy, and others anticipated to register a steady demand throughout the forecast period, driving the overall market prospects. In addition, the proactive approach of businesses in identifying and leveraging new growth prospects positions the European Medical Device Validation and Verification market for an upward trajectory, fostering both domestic and international interest. Leading brands operating in the industry are emphasizing effective marketing strategies, innovative product offerings, and a keen understanding of consumer preferences.

Asia Pacific Medical Device Validation and Verification Market Size Outlook- an attractive hub for opportunities for both local and global companies

The increasing prevalence of indications, robust healthcare expenditure, and increasing investments in healthcare infrastructure drive the demand for Medical Device Validation and Verification in Asia Pacific. In particular, China, India, and South East Asian Medical Device Validation and Verification markets present a compelling outlook for 2030, acting as a magnet for both domestic and multinational manufacturers seeking growth opportunities. Similarly, with a burgeoning population and a rising middle class, India offers a vast consumer market. Japanese and Korean companies are quickly aligning their strategies to navigate changes, explore new markets, and enhance their competitive edge. Our report utilizes in-depth interviews with industry experts and comprehensive data analysis to provide a comprehensive outlook of 6 major markets in the region.

Latin America Medical Device Validation and Verification Market Size Outlook- Continued urbanization and rising income levels

Rising income levels contribute to greater purchasing power among consumers, spurring consumption and creating opportunities for market expansion. Continued urbanization and rising income levels are expected to sustainably drive consumption growth in the medium to long term.

Middle East and Africa Medical Device Validation and Verification Market Size Outlook- continues its upward trajectory across segments

Robust demand from Middle Eastern countries including Saudi Arabia, the UAE, Qatar, Kuwait, and other GCC countries supports the overall Middle East Medical Device Validation and Verification market potential. Fueled by increasing healthcare expenditure of individuals, growing population, and high prevalence across a few markets drives the demand for Medical Device Validation and Verification.

Medical Device Validation and Verification Market Company Profiles

The global Medical Device Validation and Verification market is characterized by intense competitive conditions with leading companies opting for aggressive marketing to gain market shares. The report presents business descriptions, SWOT analysis, growth strategies, and financial profiles. Leading companies included in the study are SGS SA, Charles River, Element Materials Technology, Eurofins Scientific SE, Intertek, North American Science Associates Inc (NAMSA), Pacific Biolabs, QuEST Global Services Pte. Ltd, Steris Laboratories., Sterling Medical Devices, T??V S??D AG, Toxikon Corp

Recent Medical Device Validation and Verification Market Developments

The global Medical Device Validation and Verification market study presents recent market news and developments including new product launches, mergers, acquisitions, expansions, product approvals, and other updates in the industry.

Medical Device Validation and Verification Market Report Scope

Parameters: Revenue, Volume Price

Study Period: 2023 (Base Year); 2018- 2023 (Historic Period); 2024- 2030 (Forecast Period)

Currency: USD; (Upon request, can be provided in Euro, JPY, GBP, and other Local Currency)

Qualitative Analysis

• Pricing Analysis
• Value Chain Analysis
• SWOT Profile
• Market Dynamics- Trends, Drivers, Challenges
• Porter’s Five Forces Analysis
• Macroeconomic Impact Analysis
• Case Scenarios- Low, Base, High

Market Segmentation:

By Therapeutic Area

Cardiovascular

Dermatology

Orthopedics

Nephrology

Respiratory

Neurology

Oncology

ENT

Others

By Application

Diagnostics

Therapeutic

Implants

-Active Implantable Medical Device

-Medical Implants

By Technology

Mechanical testing

Biological

EMC/ECI

Electrical safety testing

Geographical Segmentation:

• North America (3 markets)
• Europe (6 markets)
• Asia Pacific (6 markets)
• Latin America (3 markets)
• Middle East Africa (5 markets)

Companies

SGS SA

Charles River

Element Materials Technology

Eurofins Scientific SE

Intertek

North American Science Associates Inc (NAMSA)

Pacific Biolabs

QuEST Global Services Pte. Ltd

Steris Laboratories.

Sterling Medical Devices

T??V S??D AG

Toxikon Corp

Formats Available: Excel, PDF, and PPT

Contents

1. EXECUTIVE SUMMARY

1.1 Medical Device Validation and Verification Market Overview and Key Findings, 2024
1.2 Medical Device Validation and Verification Market Size and Growth Outlook, 2021- 2030
1.3 Medical Device Validation and Verification Market Growth Opportunities to 2030
1.4 Key Medical Device Validation and Verification Market Trends and Challenges
  1.4.1 Medical Device Validation and Verification Market Drivers and Trends
  1.4.2 Medical Device Validation and Verification Market Challenges
1.5 Competitive Landscape and Key Players
1.6 Competitive Analysis- Growth Strategies Adopted by Leading Medical Device Validation and Verification Companies

2. MEDICAL DEVICE VALIDATION AND VERIFICATION MARKET SIZE OUTLOOK TO 2030

2.1 Medical Device Validation and Verification Market Size Outlook, USD Million, 2021- 2030
2.2 Medical Device Validation and Verification Incremental Market Growth Outlook, %, 2021- 2030
2.3 Segment Snapshot, 2024

3. MEDICAL DEVICE VALIDATION AND VERIFICATION MARKET- STRATEGIC ANALYSIS REVIEW

3.1 Porter's Five Forces Analysis
* Threat of New Entrants
* Threat of Substitutes
* Intensity of Competitive Rivalry
* Bargaining Power of Buyers
* Bargaining Power of Suppliers
3.2 Value Chain Analysis
3.3 SWOT Analysis

4. MEDICAL DEVICE VALIDATION AND VERIFICATION MARKET SEGMENTATION ANALYSIS AND OUTLOOK

4.1 Market Segmentation and Scope
4.2 Market Breakdown by Type, Application, and Other Segments, 2021-2030
By Therapeutic Area
Cardiovascular
Dermatology
Orthopedics
Nephrology
Respiratory
Neurology
Oncology
ENT
Others
By Application
Diagnostics
Therapeutic
Implants
-Active Implantable Medical Device
-Medical Implants
By Technology
Mechanical testing
Biological
EMC/ECI
Electrical safety testing
4.3 Growth Prospects and Niche Opportunities, 2023- 2030
4.4 Regional comparison of Market Growth, CAGR, 2023-2030

5. REGION-WISE MARKET OUTLOOK TO 2030

5.1 Key Findings for Asia Pacific Medical Device Validation and Verification Market, 2025
5.2 Asia Pacific Medical Device Validation and Verification Market Size Outlook by Type, 2021- 2030
5.3 Asia Pacific Medical Device Validation and Verification Market Size Outlook by Application, 2021- 2030
5.4 Key Findings for Europe Medical Device Validation and Verification Market, 2025
5.5 Europe Medical Device Validation and Verification Market Size Outlook by Type, 2021- 2030
5.6 Europe Medical Device Validation and Verification Market Size Outlook by Application, 2021- 2030
5.7 Key Findings for North America Medical Device Validation and Verification Market, 2025
5.8 North America Medical Device Validation and Verification Market Size Outlook by Type, 2021- 2030
5.9 North America Medical Device Validation and Verification Market Size Outlook by Application, 2021- 2030
5.10 Key Findings for South America Medical Device Validation and Verification Market, 2025
5.11 South America Pacific Medical Device Validation and Verification Market Size Outlook by Type, 2021- 2030
5.12 South America Medical Device Validation and Verification Market Size Outlook by Application, 2021- 2030
5.13 Key Findings for Middle East and Africa Medical Device Validation and Verification Market, 2025
5.14 Middle East Africa Medical Device Validation and Verification Market Size Outlook by Type, 2021- 2030
5.15 Middle East Africa Medical Device Validation and Verification Market Size Outlook by Application, 2021- 2030

6. COUNTRY-WISE MARKET SIZE OUTLOOK TO 2030

6.1 US Medical Device Validation and Verification Market Size Outlook and Revenue Growth Forecasts
6.2 US Medical Device Validation and Verification Industry Drivers and Opportunities
6.3 Canada Market Size Outlook and Revenue Growth Forecasts
6.4 Canada Medical Device Validation and Verification Industry Drivers and Opportunities
6.6 Mexico Market Size Outlook and Revenue Growth Forecasts
6.6 Mexico Medical Device Validation and Verification Industry Drivers and Opportunities
6.7 Germany Market Size Outlook and Revenue Growth Forecasts
6.8 Germany Medical Device Validation and Verification Industry Drivers and Opportunities
6.9 France Market Size Outlook and Revenue Growth Forecasts
6.10 France Medical Device Validation and Verification Industry Drivers and Opportunities
6.11 UK Market Size Outlook and Revenue Growth Forecasts
6.12 UK Medical Device Validation and Verification Industry Drivers and Opportunities
6.13 Spain Market Size Outlook and Revenue Growth Forecasts
6.14 Spain Medical Device Validation and Verification Industry Drivers and Opportunities
6.16 Italy Market Size Outlook and Revenue Growth Forecasts
6.16 Italy Medical Device Validation and Verification Industry Drivers and Opportunities
6.17 Rest of Europe Market Size Outlook and Revenue Growth Forecasts
6.18 Rest of Europe Medical Device Validation and Verification Industry Drivers and Opportunities
6.19 China Market Size Outlook and Revenue Growth Forecasts
6.20 China Medical Device Validation and Verification Industry Drivers and Opportunities
6.21 India Market Size Outlook and Revenue Growth Forecasts
6.22 India Medical Device Validation and Verification Industry Drivers and Opportunities
6.23 Japan Market Size Outlook and Revenue Growth Forecasts
6.24 Japan Medical Device Validation and Verification Industry Drivers and Opportunities
6.26 South Korea Market Size Outlook and Revenue Growth Forecasts
6.26 South Korea Medical Device Validation and Verification Industry Drivers and Opportunities
6.27 Australia Market Size Outlook and Revenue Growth Forecasts
6.28 Australia Medical Device Validation and Verification Industry Drivers and Opportunities
6.29 South East Asia Market Size Outlook and Revenue Growth Forecasts
6.30 South East Asia Medical Device Validation and Verification Industry Drivers and Opportunities
6.31 Rest of Asia Pacific Market Size Outlook and Revenue Growth Forecasts
6.32 Rest of Asia Pacific Medical Device Validation and Verification Industry Drivers and Opportunities
6.33 Brazil Market Size Outlook and Revenue Growth Forecasts
6.34 Brazil Medical Device Validation and Verification Industry Drivers and Opportunities
6.36 Argentina Market Size Outlook and Revenue Growth Forecasts
6.36 Argentina Medical Device Validation and Verification Industry Drivers and Opportunities
6.37 Rest of South America Market Size Outlook and Revenue Growth Forecasts
6.38 Rest of South America Medical Device Validation and Verification Industry Drivers and Opportunities
6.39 Middle East Market Size Outlook and Revenue Growth Forecasts
6.40 Middle East Medical Device Validation and Verification Industry Drivers and Opportunities
6.41 Africa Market Size Outlook and Revenue Growth Forecasts
6.42 Africa Medical Device Validation and Verification Industry Drivers and Opportunities

7. MEDICAL DEVICE VALIDATION AND VERIFICATION MARKET OUTLOOK ACROSS SCENARIOS

7.1 Low Growth Case
7.2 Reference Growth Case
7.3 High Growth Case

8. MEDICAL DEVICE VALIDATION AND VERIFICATION COMPANY PROFILES

8.1 Profiles of Leading Medical Device Validation and Verification Companies in the Market
8.2 Business Descriptions, SWOT Analysis, and Growth Strategies
8.3 Financial Performance and Key Metrics
SGS SA
Charles River
Element Materials Technology
Eurofins Scientific SE
Intertek
North American Science Associates Inc (NAMSA)
Pacific Biolabs
QuEST Global Services Pte. Ltd
Steris Laboratories.
Sterling Medical Devices
T??V S??D AG
Toxikon Corp

9. APPENDIX

9.1 Scope of the Report
9.2 Research Methodology and Data Sources
9.3 Glossary of Terms
9.4 Market Definitions
9.5 Contact Information