The medical device testing market is expected to reach $12.5 billion by 2027, at a CAGR of 4.7% during the forecast period of 2020 to 2027
Healthcare technology and medical devices are constantly evolving to improve accuracy, patient safety, and wellness. The dynamic progress in the sector leaves medical devices increasingly susceptible to quality, safety and cybersecurity issues. Medical Device testing ensures the product’s software and hardware are compatible and compliant with the associated regulations and functionality. These devices are subjected to compliance with strict regulatory protocols, as it is essential to ensure the safety and efficiency of medical devices. Thus, it is mandatory for every device to comply with national and international standards before entering the market. The standard guidelines for medical devices vary from country to country, and it is mandatory for every manufacturer to follow these guidelines for marketing or selling their products in a respective country. For instance, the U.S. follows Food and Drug Administration (FDA) guidelines, Europe considers the Conformitè Europëenne (CE) approval, Canada needs Health Canada Registration, and India requires approval from Central Drugs Standard Control Organization (CDSCO). Such a diverse range of regulatory landscape urges medical device manufacturers to incorporate local testing and certification processes, thus driving the growth of the medical device testing market.
Here are the top 10 companies operating in Medical Device Testing Market
SGS is the world’s leading inspection, verification, testing, and certification company. SGS offers medical device testing, certification, audit, and training services that can help to navigate the complexities of international medical device regulations to bring medical devices to market while ensuring compliance with the required regulations and standards and providing a high level of safety to patients and healthcare professionals. SGS is recognized as the global benchmark for quality and integrity, with more than 94,000 employees. SGS operates a network of over 2,600 offices and laboratories around the world. The company operates in the market through nine business segments: Agriculture; Food & Life; Minerals; Oil, Gas, & Chemicals; Consumer & Retail; Certification & Business Enhancement; Industrial; Environment, Healthcare, & Safety; Transportation; and Government & Institution.
With its subsidiaries and strong distribution network, the company has its presence across the Americas, Europe, Africa, the Middle East, and Asia-Pacific. Some of its subsidiaries include SGS United Kingdom Ltd. (U.K.), SGS Australia (Australia), Ustav Paliv a Maziv, a.s. (Czechia), Vernolienne de Laboratoires SA (France), and Maine Pointe (U.S.).
Bureau Veritas S.A.
Bureau Veritas is a world leader in testing, inspection, and certification and providing quality, health and safety, environmental protection, and social responsibility services. Bureau Veritas has comprehensive testing facilities worldwide for checking electrical safety, electromagnetic compatibility, and wireless technology.
Bureau Veritas operates in various sectors, including Building & Infrastructure, Agri-food & Commodities, Marine & Offshore, Industry, Certification, and Consumer Products. The company operates in the market through six business segments: Agri-food & Commodities, Industry, Buildings & Infrastructure, Certification, Consumer Products, and Marine & Offshore.
With its subsidiaries and strong distribution network, the company has its presence across the Americas, Europe, Asia Pacific, Middle East and Africa. Some of the subsidiaries of Bureau Veritas include EMG Corporation (U.S.), LCIE Bureau Veritas (France), Tecnicontrol S.A. (Colombia), and Primary Integration, LLC (U.S.).
Intertek Group is a global assurance, inspection, testing, and certification company. They deliver innovative and bespoke assurance, testing, inspection, and certification solutions for operations and supply chains. Intertek focuses on quality assurance expertise, delivers consistently with precision, pace, and passion. The company operates in the market through three business segments: Product, Trade, and Resources.
With its subsidiaries and strong distribution network, the company has its presence across the U.S., China (including Hong Kong), the U.K., and other countries. Some of the subsidiaries of Intertek include Intertek Testing Services NA, Inc. (U.K.), Check Safety First Limited (U.K.), Architectural Testing (U.S.), and Professional Service Industries, Inc. (U.S.).
TÜV SÜD is a global technical service provider committed to enabling progress by protecting people, the environment, and assets from technology-related risks. TÜV’s range of services covers certification & testing, inspection, auditing & system certification, knowledge services, and training. The company operates through three business segments: Industry, Mobility, and Certification.
With its subsidiaries and strong distribution network, the company has its presence across Europe, the Americas and Asia. Some of the subsidiaries of TÜV SÜD include TÜV SÜD America Inc. (Germany), Bureau De Projetos E ConsultoriaLtda (Brazil), Uniscon Universal Identity Control GmbH (Germany), and Global Risk Consultants (U.S.).
DEKRA SE is a wholly owned subsidiary of DEKRA e.V. and manages the Group’s operating business. Dekra ensures the safety of human interaction with technology and the environment. They have a broad service portfolio with qualified and independent expert services ranging from vehicle inspection and expert appraisals to claims services, industrial and building inspections, safety consultancy, testing and certification of products and systems, training courses, and temporary work.
With its subsidiaries and strong distribution network, Dekra has a presence across China, the U.S., South Africa, and New Zealand. Some of the subsidiaries of Dekra SE include Dekra Akademie (Germany), Behavioral Science Technology (U.S.), Core Visual Inspection Services, Inc (U.S.). and DEKRA Testing and Certification, S.A.U (Spain).
A report into the projected growth of the current Medical Device Testing Market by Meticulous Research® has produced some incredible forecasts for the industry. By 2027, it’s expected to have grown at a CAGR of 4.7%, reaching over $12.5 billion.
TÜV Rheinland AG Group
TÜV Rheinland AG Group is a global leader in independent inspection services, founded 145 years ago. TÜV Rheinland inspects technical equipment, products, and services, oversees projects, and helps companies with processes and information security. Its experts train people in a wide range of careers and industries. TÜV Rheinland employs a global network of approved labs, testing and education centers. Since 2006, TÜV Rheinland has been a member of the United Nations Global Compact to promote sustainability and combat corruption. It operates in the market through six business segments: Industrial Services, Mobility, Products, Academy & Life Care, Digital Transformation & Cybersecurity, and Systems.
With its subsidiaries and a strong distribution network, TÜV Rheinland has its presence in Germany and abroad. Some of the subsidiaries of TÜV Rheinland are TUV Rheinland of North America (U.S.), TUV Rheinland OpenSky (U.S.), TUV Rheinland UK Limited (Germany) and TUV Rheinland Secure IT GmbH (Germany).
Eurofins Scientific SE
Eurofins Scientific SE is an international life sciences company providing a unique range of analytical testing services to clients across multiple industries. Eurofins works with the biggest companies globally to ensure the products they supply are safe, their ingredients are authentic, and labeling is accurate. Eurofins is a global leader in food, environmental, pharmaceutical, cosmetic product testing, and agro science CRO services. It is also one of the global independent market leaders in certain testing and laboratory services for genomics, discovery pharmacology and forensics, CDMO, advanced material sciences, and in support of clinical studies.
With its subsidiaries and a strong distribution network, Eurofins has its presence across Europe, North America, and RoW. Some of the subsidiaries of Eurofins include Lancaster Laboratories (U.S.), DiscoveRx (U.S.), MET Laboratories, Inc. (U.S.), and Biomnis (France).
British Standards Institution Group
The British Standards Institution is the national standards body of the United Kingdom. BSI produces technical standards on a wide range of products and services and supplies certification and standards-related services to businesses. The company is one of the world’s largest certification bodies. It audits and provides certification to companies worldwide that implement management systems standards. BSI also runs training courses covering the implementation and auditing requirements of national and international management systems standards. BSI operates through five business segments: Knowledge, Assurance Services, Regulatory Services, Professional Services, and Governance/Support Functions.
With its subsidiaries and a strong distribution network, BSI has its presence across EMEA, the Americas, and Asia-Pacific. Some of the subsidiaries of BSI include BSI Group Japan K.K. (Japan), BSI EHS Services and Solutions (U.S.), AppSec Consulting (U.S.), and BSI Group America Inc. (U.S.).
Element Materials Technology Ltd.
Founded in 1827 and headquartered in London, U.K., Element Materials Technology Ltd. is one of the world’s leading independent providers of testing, inspection, and certification services to diverse industries. The company delivers a comprehensive range of testing, inspection, and certification services to the global aerospace, transportation, fire, oil & gas, and infrastructure sectors. Their team of over 6,700 engaged experts operate from over 188 locations in more than 30 countries on 5 continents and deliver an extensive range of materials testing, product qualification testing, inspection, certification, and advisory services.
With its subsidiaries and a strong distribution network, Element Materials has its presence across the Americas, Europe, the Middle East & Africa, Asia, and Australia. Some of its subsidiaries include Analytical Lab Group, LLC (U.S.), PCTEST Engineering Laboratory, Inc. (U.S.), Exova Group Limited (U.K.), and Greenrock Topco Limited (U.K.).
Founded in 1894, UL LLC is a global safety certification company headquartered in Northbrook, Illinois. UL is one of several companies approved to perform safety testing by the U.S. federal agency, Occupational Safety and Health Administration (OSHA). UL provides high quality and performance expectations, risk management, and regulatory compliance with safety, security, and sustainability. They offer testing, verification and certification, training and advisory services, data-driven reporting, and decision-making tools.
With its subsidiaries and a strong distribution network, UL has 64 laboratories, testing, and certification facilities serving customers in 104 countries. Some of the subsidiaries of UL LLC include Innovadex (U.S.), Underwriters Laboratories of Canada (Canada), UL Japan (Japan), UL EHS Sustainability (U.S.), and Safeware Quasar (U.K.).
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Authoritative Research on the Medical Device Testing Market – Global Opportunity Analysis and Industry Forecast (2020-2027)
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