Rapidly evolving healthcare infrastructure has put ever-rising demands for commercializing of novel medical technologies. Medical device manufacturing is unarguably a capital-intensive endeavour for manufacturers. All stages of medical device testing are capital intensive, ranging from prototyping to regulatory approval to market launches. These factors underlie the forces of evolution in the medical device testing market. A number of testing protocols have emerged in North America, Europe, and Asia in this regard. Companies in the medical device testing market are keen on adopting GMP/GLP/ISO 17025 testing protocols to meet wide range of testing needs such as analytical chemical, biocompatibility, microbiological, electrical, package testing, and mechanical methods. Some of the key regulations and compliance that medtech companies need to comply with are 510(k) and CE marking.
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Novel Designs for Cardiovascular and Neurological Specialties Key Avenues for Manufacturers
The medical device testing market is expected to expand on the wave of the relentless spending on research and development of new designs for various medical specialties. The design and production cycle goes through different device testing protocols. Further, the strides made by the healthcare infrastructure has favored the growth dynamics of the market on multiple facets. The rise in modernization of multispecialty hospitals in emerging economies and the rise in demand for complicated surgeries in chronic diseases are key factors propelling the expansion of the medical device testing market.
Need for improving surgical outcomes in neurological and cardiovascular diseases is one of the key drivers for the growing demand for medical device testing services. Concomitantly, the clinical expertise of surgeons has also advanced considerably world over in recent decades. The strides in medical tourism in numerous developing countries has spurred the demand for innovative surgical technologies, thus boosting the growth in the medical device testing market.
Prominent service providers in the medical device testing market are keen on offering end-to-end services. A key trend that might unlock new prospects is the rising private investments on contract research organization in some emerging economies, such as those in Asia.
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