Thailand Medical Device Testing Services Market Size & Outlook
Thailand medical device testing services market, 2018-2030 (US$M)
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Thailand medical device testing services market highlights
- The Thailand medical device testing services market generated a revenue of USD 90.4 million in 2023 and is expected to reach USD 131.1 million by 2030.
- The Thailand market is expected to grow at a CAGR of 5.4% 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 90.4 million |
| Market revenue in 2030 | USD 131.1 million |
| Growth rate | 5.4% (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, Thailand accounted for 13.2% 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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Thailand 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 50.77% in 2023. Horizon Databook has segmented the Thailand 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.
Thailand’s medical device testing services market is driven by the presence of domestic medical device manufacturers, which manufacture class I and class II devices. The rising interest of many multinational medical device companies to expand into the country due to low-cost regulatory affairs & maintenance services is anticipated to drive the market.
For instance, several large companies in Thailand have increased their overall investment, with companies boosting their outsourcing efforts. Such factors are contributing to market growth. Moreover, the usage of medical devices is growing in Thailand.
This is due to the growth of medical services. For example, medical devices are increasingly being designed and produced in Thailand, especially single-use devices. This is expected to increase the number of new players entering the market, thus making the 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 Thailand medical device testing services market , including forecasts for subscribers. This country databook contains high-level insights into Thailand medical device testing services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Thailand medical device testing services market size, by service, 2018-2030 (US$M)
Thailand Medical Device Testing Services Market Outlook Share, 2023 & 2030 (US$M)
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