Medical Device Validation and Verification: Global Strategic Business Report

Global Medical Device Validation and Verification Market to Reach $1.2 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Medical Device Validation and Verification estimated at US$552 Million in the year 2020, is projected to reach a revised size of US$1.2 Billion by 2027, growing at a CAGR of 11.9% over the analysis period 2020-2027. Mechanical Testing, one of the segments analyzed in the report, is projected to record a 11.3% CAGR and reach US$471.5 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Biological segment is readjusted to a revised 12.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $150.4 Million, While China is Forecast to Grow at 15.9% CAGR

The Medical Device Validation and Verification market in the U.S. is estimated at US$150.4 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$254.4 Million by the year 2027 trailing a CAGR of 15.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.4% and 10.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 9.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$174.2 Million by the year 2027.

EMC / ECI Segment to Record 12.3% CAGR

In the global EMC / ECI segment, USA, Canada, Japan, China and Europe will drive the 12.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$78.9 Million in the year 2020 will reach a projected size of US$169.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 13.9% CAGR through the analysis period.

Select Competitors (Total 36 Featured) -

• Charles River
• Element Materials Technology
• Eurofins Scientific SE
• Global Services Pte., Ltd
• Intertek
• NAMSA
• Pacific Biolabs
• QuEST
• SGS SA
• Steris Laboratories
• Sterling Medical Devices
• Toxikon Corporation
• TÜV SÜD AG

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