Medical Device Analytical Testing Outsourcing Market Anticipated To Reach USD 10.6 Billion By 2030
Posted by Neha Bora on December 9th, 2022
San Francisco, 9 Dec 2022: The Report Medical Device Analytical Testing Outsourcing Market Size, Share & Trends Analysis Report By Services, By Therapeutic Areas ,By Device Type ,By End-use, By Region And Segment Forecasts, 2022 - 2030
The global medical device analytical testing outsourcing market size is expected to reach USD 10.6 billion by 2030, registering a CAGR of 8.1% over the forecast period, according to a new report by Grand View Research, Inc. Several medical device companies outsource analytical testing operations to decrease business risks, accelerate product market entrance, and lower expenses. As a result of this considerable rise in spending levels, medical device Original Equipment Manufacturers (OEMs) quickly shift to outsourcing as a cost-cutting technique. Medical device testing remained consistent in 2021. The testing requirements of Medical Device Manufacturers (MDMs) reflected variations in the medical/healthcare market as it recovered from the COVID-19 slowdown.
In 2021, the need for European Medical Device Regulation (MDR) remediation standards, as well as the ever-increasing regulatory demands in the Leachables & extractables (E&L) arena, accounted for a significant portion of the testing effort. However, due to delays and a lack of external resources and labor, labs’ ability to expand capacity has been limited. Regulatory authorities are focusing on testing technique validation, especially data quality, including repeatability and reproducibility. There is also a trend toward more deterministic testing methods. This enables companies to acquire more statistically reliable data to determine if their products meet the criteria. For example, the medical device sector and testing labs confront considerable hurdles in adopting ISO 10993-18:2020 E&L testing regulations while still meeting FDA expectations. The FDA had requested the use of conservative techniques to reduce areas of ambiguity or potential inaccuracy in E&L testing throughout 2021.
Access Research Report of Medical Device Analytical Testing Outsourcing Market @ https://www.grandviewresearch.com/industry-analysis/medical-device-analytical-testing-outsourcing-market
Medical Device Analytical Testing Outsourcing Market Report Highlights
List of Key Players in Medical Device Analytical Testing Outsourcing Market
Access Press Release of Medical Device Analytical Testing Outsourcing Market @ https://www.grandviewresearch.com/press-release/global-medical-device-analytical-testing-outsourcing-market
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About the AuthorNeha Bora
Joined: September 16th, 2019
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