Australia Medical Device Testing Services Market Size & Outlook
Australia medical device testing services market, 2018-2030 (US$M)
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Australia medical device testing services market highlights
- The Australia medical device testing services market generated a revenue of USD 3,675.5 million in 2023 and is expected to reach USD 7,013.4 million by 2030.
- The Australia market is expected to grow at a CAGR of 9.7% 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.
Medical device testing services market data book summary
| Market revenue in 2023 | USD 3,675.5 million |
| Market revenue in 2030 | USD 7,013.4 million |
| Growth rate | 9.7% (CAGR from 2023 to 2030) |
| Largest segment | Biocompatibility tests |
| Fastest growing segment | Chemistry Test |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Australia accounted for 536.9% of the global medical device testing services market in 2023.
- Country-wise, Australia is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Australia medical device testing services market is projected to lead the regional market in terms of revenue in 2030.
- Philippines is the fastest growing regional market in Asia Pacific and is projected to reach USD 260.8 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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Australia 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 50.26% in 2023. Horizon Databook has segmented the Australia 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.
The Australia medical device testing services market is anticipated to grow gradually over the forecast period due to the presence of multinational medical device companies & their subsidiaries, superior healthcare infrastructure, and skilled research capabilities.
In addition, continuous technological developments, rapidly aging population, increasing burden of chronic diseases are anticipated to drive market growth. Moreover, opportunities exist for products that can provide a significant improvement in clinical outcomes.
As there is also a growing demand for products that aid faster recovery, reduce hospitalization & rehabilitation costs, and manage chronic diseases. These factors are anticipated to boost the demand for medical device testing services in Australia.
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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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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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Horizon Databook provides a detailed overview of country-level data and insights on the Australia medical device testing services market , including forecasts for subscribers. This country databook contains high-level insights into Australia medical device testing services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia medical device testing services market size, by service, 2018-2030 (US$M)
Australia Medical Device Testing Services Market Outlook Share, 2023 & 2030 (US$M)
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