Medical Device Validation & Verification Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: SGS SA, QuEST Global Services Pte. Ltd, Intertek, Element Materials Technology

The market for Medical Device Validation & Verification was valued at US$ 495.72 million in 2021, and it is anticipated to increase to US$ 998.26 million by 2027, with a CAGR of 10.2% during 2022 and 2027.

Medical Device Validation & Verification Market Overview

International regulatory standards established by key authorities, such as the United States Food and Drug Administration (FDA), are continually evolving as a result of severe regulatory policies imposed by many countries. Medical equipment are getting smaller and more intricately designed as technology advances. As a result, the importance of medical device validation and verification has increased. This validation and verification method aids in the error-free design of medical equipment of the highest caliber. Verification and validation also lower the cost of producing medical equipment.

The demand for medical device validation and verification is rising as a result of the growing need for high-tech, high-quality medical devices and the complexity of product design and engineering. Additionally, the complexity and connection of medical devices have increased. The adoption of digital technology is simple and widespread throughout the healthcare industry. Because of the addition of software, medical equipment are becoming increasingly sophisticated. Previously, turning on and off the equipment and displaying information were done manually using the software in medical devices. The medical device software has become significantly more sophisticated as a result of the complexity of the requirements and customer requests, which has increased the need for validation and verification.

Industry News and Updates

January 12, 2022: TÜV SÜD Announces Medical Device Testing Laboratory Expansion, Adding 26 High-Skilled Job Opportunities in New Brighton, MN--

TÜV SÜD announces its plans to expand its Medical & Health Services (MHS) facilities in New Brighton, Minnesota, during a groundbreaking ceremony. This 20,000 square foot laboratory extension of its existing 36,000 square foot test facility to be completed by June 2022 will offer an end-to-end testing solution for all medical devices.

What are the major Applications, Types and Regions for Medical Device Validation & Verification Market?

Market is segmented based on the type, applications, companies and regions.

By Type, it is segmented into

• Diagnostics


• Therapeutic


• Implants

By Application, it is segmented into

• Cardiovascular


• Dermatology


• Orthopedics


• Nephrology


• Respiratory


• Neurology


• Oncology


• ENT


• Others

Medical Device Validation & Verification Market Regional Analysis

Due to recent technical breakthroughs in medical devices and increased complexity in product design, North America held the greatest share of 44.88% in 2019. Additionally, because the healthcare sector is flourishing in North America, producers of medical devices are concentrating there. North America is therefore expected to control the global market over the estimate.

In 2019, Europe accounted for the second-largest share of the worldwide market thanks to its highly developed healthcare system. Due to rising regulatory emphasis on quality control during medical device production, particularly in emerging nations like China and India, the Asia Pacific region is anticipated to hold a sizable market share over the course of the projected period. In addition, the market in the Asia Pacific is anticipated to be driven by rising medical tourism in emerging economies. Due to the rapidly expanding healthcare business, some regions, including the Middle East and Africa and Latin America, are predicted to have profitable growth in the near future.

• North America
  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

The Medical Device Validation & Verification Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Medical Device Validation & Verification Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

What is our Medical Device Validation & Verification Market report scope?

Key Takeaways from this Medical Device Validation & Verification Market Report

• Evaluate Medical Device Validation & Verification market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.


• Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.


• Get a quick outlook on the Medical Device Validation & Verification market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.


• Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.

Frequently Asked Questions

What is the growth rate of Medical Device Validation & Verification Market?

The Medical Device Validation & Verification Market is growing at a CAGR of 10.2% over the next 5 years.

Who are the key players in Medical Device Validation & Verification Market?

SGS SA, QuEST Global Services Pte. Ltd, Intertek, Element Materials Technology, TÜV SÜD AG, North American Science Associates, Inc. (NAMSA), Eurofins Scientific SE, Charles River, Sterling Medical Devices, Pacific Biolabs, Toxikon Corporation, Steris Laboratories, Global Services Pte., Ltd, NAMSA

What are the significant types of Medical Device Validation & Verification Market?

Diagnostics, Therapeutic, Implants

What are the major end-use applications of Medical Device Validation & Verification Market?

Cardiovascular, Dermatology, Orthopedics, Nephrology, Respiratory, Neurology, Oncology, ENT, Others

All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.