Medical Device Analytical Testing Outsourcing Market Poised for Strong Growth by 2030

According to the latest market research study published by P&S Intelligence, the global market for outsourcing medical device analytical testing is growing rapidly, projected to reach USD 10,904.8 million by 2030. This growth is driven by several factors, including the rising number of small-scale medical device manufacturers, the increasing demand for the efficiency and safety validation of devices, stringent government regulations, and the preference of major medical device companies to outsource testing services.

In recent years, outsourced cardiovascular device testing generated the highest revenue, amounting to USD 1,311.6 million, a figure that is expected to increase significantly during the forecast period.

The rising demand for cardiovascular devices, due to the growing prevalence of heart-related diseases, is contributing to this increase in outsourcing. According to a source, over 17 million people die from cardiovascular diseases annually, and this figure is expected to rise to 23.6 million by 2030.

Cardiovascular diseases (CVDs) are highly complex, necessitating treatment and diagnostic equipment that is both safe and user-friendly. This, combined with an increase in patient numbers, is prompting medical device manufacturers to collaborate with contract development and manufacturing organizations (CDMOs) to scale up production and outsource testing procedures.

The reprocessed device segment accounted for the second-largest share of revenue and is expected to witness the fastest growth in the medical device analytical testing outsourcing market, with a projected CAGR of around 10% over the forecast period.

Reprocessing devices helps reduce costs but often poses risks to patient safety. However, the FDA's systematic research aims to reduce long-term healthcare costs and generate savings in advanced countries, especially in the U.S. and Europe.

Hospitals have dominated the market in recent years, accounting for over 84% of the global revenue share. This dominance is attributed to increased patient inflow at these facilities and greater hospital administration budget allocations for such services.

The APAC region led the market, contributing over 39% of total revenue due to government efforts to enhance healthcare infrastructure. Moreover, economic growth in China and India is expected to drive industry expansion.

Additionally, the large population and low disposable income in the region create a high demand for affordable treatment options. Multinational companies are also keen to invest in these emerging markets.

Furthermore, the Chinese government's initiatives to streamline regulations for foreign investors, expedite the approval of innovative medical devices, reduce tariffs on high-tech device trade, and ease procurement restrictions on certain equipment have contributed to the country’s near double-digit growth in medical device analytical testing outsourcing, the highest in the region.