Asia Pacific Medical Device Testing Services Market Size & Outlook
Asia Pacific medical device testing services market, 2018-2030 (US$M)
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Asia Pacific medical device testing services market highlights
- The Asia Pacific medical device testing services market generated a revenue of USD 41.9 million in 2023.
- The market is expected to grow at a CAGR of 7.9% from 2024 to 2030.
- In terms of segment, biocompatibility tests was the largest revenue generating service in 2023.
- Chemistry Test is the most lucrative service segment registering the fastest growth during the forecast period.
- Country-wise, Philippines is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 41.9 million |
| Market revenue in 2030 | USD 71.2 million |
| Growth rate | 7.9% (CAGR from 2023 to 2030) |
| Largest segment | Biocompatibility tests |
| Fastest growing segment | Chemistry Test |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Biocompatibility Tests, Chemistry Test, Microbiology & Sterility Testing, Package Validation |
| Key market players worldwide | SGS AG, Labcorp Holdings Inc, Sotera Health Co Ordinary Shares, Charles River Laboratories International Inc, NAMSA, Eurofins Scientific SE, Intertek Group PLC, Wuxi AppTec Co Ltd, TUV SUD, Element Materials Technology, Pace Analytical Services |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 6.1% of the global medical device testing services market in 2023.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Latin America is the fastest growing regional market and is projected to reach USD 147.9 million by 2030.
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Medical Device Testing Services Market Scope
Medical Device Testing Services Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific medical device testing services market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to medical device testing services market will help companies and investors design strategic landscapes.
Biocompatibility tests was the largest segment with a revenue share of 48.45% in 2023. Horizon Databook has segmented the Asia Pacific medical device testing services market based on biocompatibility tests, chemistry test, microbiology & sterility testing, package validation covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific is the fastest-growing market, as many developed economies are outsourcing medical device testing services to countries such as India, China, and South Korea. The evolving medical device testing services are expected to increase the market demand in the region, owing to established healthcare infrastructure with government initiatives.
Furthermore, presence of a large & diverse patient pool and high demand for affordable treatment options are supporting the market growth. In addition, the presence of multinational medical device companies in the region and increasing number of collaborative partnerships & strategic alliances are creating growth opportunities in the market.
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Target buyers of Asia Pacific medical device testing services market databook
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Our clientele includes a mix of medical device testing services market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific medical device testing services market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific medical device testing services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific medical device testing services market size, by country, 2018-2030 (US$M)
Asia Pacific Medical Device Testing Services Market Outlook Share, 2023 & 2030 (US$M)
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