Europe Medical Device Testing Services Market Size & Outlook
Europe medical device testing services market, 2018-2030 (US$M)
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Europe medical device testing services market highlights
- The Europe medical device testing services market generated a revenue of USD 431.7 million in 2023.
- The market is expected to grow at a CAGR of 7.8% 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, Germany is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 431.7 million |
| Market revenue in 2030 | USD 729.7 million |
| Growth rate | 7.8% (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, Europe region accounted for 63.1% 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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Europe 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 49.97% in 2023. Horizon Databook has segmented the Europe 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.
Europe is expected to be a promising region for the medical device testing services market. Europe’s medical device testing services market is dominated by EU5 nations (France, Italy, Spain, the UK, and Germany). These countries are driven by advanced technologies as well as well-established infrastructure.
Players seeking entry into the Europe market require extensive knowledge of complexity in product design. In addition, small & mid-sized medical device companies have rising requirements for medical device testing services for the performance, and safety of medical devices in the region. In addition, the market is expected to grow lucratively due to stringent regulatory policies.
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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 Europe medical device testing services market , including forecasts for subscribers. This continent databook contains high-level insights into Europe medical device testing services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe medical device testing services market size, by country, 2018-2030 (US$M)
Europe Medical Device Testing Services Market Outlook Share, 2023 & 2030 (US$M)
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