A recent report ongoing study by
Infinium Global Research on biocompatibility testing services for medical
devices market provides in-depth analysis of segments and sub-segments in the
global as well as regional biocompatibility testing services for medical
devices market. The study also highlights the impact of drivers, restraints,
and macro indicators on the global and regional biocompatibility testing
services for medical devices market over the short term as well as long term.
The report is a comprehensive presentation of trends, forecast and dollar
values of global biocompatibility testing services for medical devices market.
According to the report, the global biocompatibility testing services for
medical devices market is projected to grow at a healthy CAGR over the forecast
period of 2021-2027.
Biocompatibility testing for
medical devices is a critical part of the regulatory approval process. In order
to successfully move medical devices to market the complexity involved in
choosing the right biocompatibility testing for medical devices has
substantially increased over recent years. When the patient comes into contact
with a medical device, it should fulfill its intended function without
inflicting any harm to the patient. Therefore, all medical devices need to
undergo thorough Biocompatibility testing.
The increasing complexity of
medical devices has increased the need for specific equipment for testing each
component of the completed device. Furthermore, increasingly complex
regulations are driving the need to validate equipment. For instance, universal
test systems are designed to test drug delivery systems and reducing lead times for
testing. Furthermore, breathing circuit and gas pathway device testing is in
especially high demand. In addition, OEMs are also asking for end-of-life
assessments, for devices that come into contact with the patient. Such as,
blood-contacting devices such as catheters and vascular stents require special
consideration regarding any possible changes in surface characteristics over
time. There is a need to ensure these devices are clean and sterile for every
cycle of use. The market is majorly driven by the increasing government regulations
that led to the increasing demand for verification and validation for medical
devices. Besides, the growing number of small medical device companies that lack in-house
expertise is also attributing to the market growth. In addition, the
developments in the medical device industry are likely to have a positive impact
on the demand for the market. However, interruptions in contractual obligations
are affecting the growth of the market.
The Asia Pacific holds the largest
market shares in biocompatibility testing services for medical devices. The
advancements in healthcare infrastructure are driving the growth of the market
in the Asia Pacific region. North America, is growing with a healthy CAGR as Strict
regulations have been established by the governments to maintain quality and
safety standards in the industry.
The report on global
biocompatibility testing services for medical devices market covers segments
such as service, and phase. On the basis of service, the sub-markets include
biocompatibility test, chemistry test, microbiology & sterility testing,
and package validation. On the basis of phase, the sub-markets include
preclinical, and clinical.
The report provides profiles of
the companies in the market such as NORTH AMERICAN SCIENCE ASSOCIATES INC,
WICKHAM LABORATORIES, GLR LABORATORIES PVT LTD, NELSON LABORATORIES, INC,
ACCUPREC RESEARCH LABS PVT. LTD, TOXIKON, INC, PACIFIC BIOLABS, BIOCOMP LABORATORIES,
INC, MORULAA HEALTHTECH PVT. LTD, and GENEVA LABORATORIES.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the market
using analytical tools such as Porter's five forces analysis and DRO analysis
of biocompatibility testing services for medical devices market. Moreover, the
study highlights current market trends and provides forecast from 2021-2027. We
also have highlighted future trends in the market that will affect the demand
during the forecast period. Moreover, the competitive analysis given in each
regional market brings an insight into the market share of the leading players.