Canada Medical Device Testing Services Market Size & Outlook
Canada medical device testing services market, 2018-2030 (US$M)
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Canada medical device testing services market highlights
- The Canada medical device testing services market generated a revenue of USD 2,044.6 million in 2023 and is expected to reach USD 3,839.0 million by 2030.
- The Canada market is expected to grow at a CAGR of 9.4% 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 2,044.6 million |
| Market revenue in 2030 | USD 3,839.0 million |
| Growth rate | 9.4% (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, Canada accounted for 298.7% 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 North America, Canada medical device testing services market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 640.8 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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Canada 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 50.38% in 2023. Horizon Databook has segmented the Canada 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.
Canada held a market share of 13.32% in North America in 2023. The country supports its medical device testing services landscape through outsourcing firms that cater to manufacturing and regulatory compliance needs of medical device manufacturers, thereby leading to increasing outsourcing activity in the region.
In addition, the presence of a well-established healthcare system and favorable government support are expected to improve the number of medical device services in the country. Furthermore, in the country, class I medical devices are prominently outsourced due to lower risk, and higher utility, which increases the requirement for medical device testing services.
For instance, diagnostic tools and their components, such as X-ray scanners, are class I products that can be outsourced by clinical partners for the analysis of material characterization, product shelf-life, and stability testing, among others.
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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 Canada medical device testing services market , including forecasts for subscribers. This country databook contains high-level insights into Canada medical device testing services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada medical device testing services market size, by service, 2018-2030 (US$M)
Canada Medical Device Testing Services Market Outlook Share, 2023 & 2030 (US$M)
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