Colombia Medical Device Testing Services Market Size & Outlook
Colombia medical device testing services market, 2018-2030 (US$M)
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Colombia medical device testing services market highlights
- The Colombia medical device testing services market generated a revenue of USD 127.4 million in 2023 and is expected to reach USD 263.1 million by 2030.
- The Colombia market is expected to grow at a CAGR of 10.9% 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.
Medical device testing services market data book summary
| Market revenue in 2023 | USD 127.4 million |
| Market revenue in 2030 | USD 263.1 million |
| Growth rate | 10.9% (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, Colombia accounted for 18.6% 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 Latin America, Argentina medical device testing services market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in Latin America and is projected to reach USD 161.5 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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Colombia 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 48.67% in 2023. Horizon Databook has segmented the Colombia 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 country is the ideal nation for key players to establish their manufacturing base in the region, owing to its proximity to the U.S. and other developed nations, cheaper labor & land costs, and reduced shipping costs as compared to Asian nations.
In addition, with massive improvements in healthcare systems, and a growing economy, Colombia’s medical device testing services market is anticipated to create new growth opportunities for medical device manufacturers who are willing to enter the region. This is expected to increase the number of medical device companies entering the country, thus making the country’s market competitive.
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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 Colombia medical device testing services market , including forecasts for subscribers. This country databook contains high-level insights into Colombia medical device testing services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Colombia medical device testing services market size, by service, 2018-2030 (US$M)
Colombia Medical Device Testing Services Market Outlook Share, 2023 & 2030 (US$M)
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