Latest News by Industry
DUBLIN--(BUSINESS WIRE)--Sep 30, 2022--
The "Preclinical Medical Device Testing Services Market by Service (Biocompatibility Tests, Chemistry Test, Microbiology & Sterility Testing, Package Validation), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global preclinical medical device testing services market share is expected to reach USD 4.9 billion by 2030, according to this report. The rising incidence of diseases has provided manufacturers with different approaches for the formation of medical devices and increasing demand for technologically advanced medical devices are the main factors driving the market growth.
The pace of technological advancement in the healthcare industry has vastly increased in recent years. Medical device technology advancements support simple, painless treatment during disease management. Additionally, advancements in medical device technology help with accurate and quick disease diagnosis results, as well as the affordability of technology-based therapeutic tools for disease treatment.
Furthermore, numerous governmental agencies and healthcare institutions support medical research facilities. This funding is primarily intended to promote global health care innovations. The growth of medical device testing in the anticipated period is therefore supported by expanding innovation and technological advancement.
Preclinical testing plays a crucial role in the process of creating new products. Before beginning human testing, most of this testing has been completed and reports should be available. According to ISO-10993, biocompatibility testing results are needed to be included in 510(k) notifications for Class II equipment that has immediate patient contact or contact with the blood supply. This shows that the new device's risks are "substantially equivalent" to the predicate device's risks. In order to show the utility of the new device, validate electrical safety, or examine electromagnetic interference, the testing also involves animal and bench studies.
COVID-19 has created an enormous demand for these services. The growth was not significant during the first half, but it became more significant during the second as the industry adopted the new norms at a faster pace amid the pandemic. Numerous projects that were halted because of COVID have been restarted and PPE kits are witnessing an increase in production and testing. During the pandemic, many medical devices in high demand diverted attention from the equipment needed for surgery. The COVID-19 vaccines, ventilators, and pulse oximeters are the main products that witnessed a spike in demand.
Preclinical Medical Device Testing Services Market Report Highlights
Market Dynamics
Drivers
Restraints
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/nj5enp
View source version on businesswire.com:https://www.businesswire.com/news/home/20220930005214/en/
CONTACT: ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
KEYWORD:
INDUSTRY KEYWORD: MEDICAL DEVICES HEALTH
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/30/2022 05:05 AM/DISC: 09/30/2022 05:06 AM
http://www.businesswire.com/news/home/20220930005214/en