| Product Code: ETC4589905 | Publication Date: Jul 2023 | Product Type: Report | ||
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 25 |
The India medical device testing market import shipments demonstrated a consistent growth trend with a CAGR of 8.5% from 2020 to 2024. However, there was a slight slowdown in growth with a 3.0% rate between 2023 and 2024. Overall, the market expanded steadily, indicating a positive momentum despite the marginal dip in growth rate towards the end of the period.
India medical device testing market is expanding due to the increasing demand for rigorous testing and certification of medical equipment. With the growth of the healthcare sector and the development of new medical technologies, there is a rising need for ensuring the safety, efficacy, and compliance of medical devices through testing and certification processes.
The India Medical Device Testing market is witnessing robust growth due to several key drivers. Firstly, the global medical device industry has been expanding rapidly, and India is becoming a significant player in the manufacturing and export of medical devices. To ensure these products meet international standards and safety requirements, rigorous testing and certification are essential, which boosts the demand for testing services. Additionally, India growing healthcare sector and the increasing awareness among patients about the quality and safety of medical devices are driving factors. Regulatory compliance and the need to meet the stringent requirements of international markets further underscore the importance of testing. The COVID-19 pandemic has also highlighted the importance of reliable medical devices, stimulating the demand for testing and certification services in this sector.
The India medical device testing market faces challenges related to regulatory compliance, as evolving standards and the need for rigorous testing to ensure patient safety often result in delays in product approval. Additionally, there`s a lack of standardized testing protocols and infrastructure, leading to inconsistencies and a need for improved testing facilities across the country.
The COVID-19 pandemic had a twofold effect on the medical device testing market in India. While testing and certification related to medical devices experienced increased demand, there were logistical challenges and delays due to the overwhelming demand for COVID-19-related medical equipment. This led to a temporary shift in priorities and resource allocation within the industry.
Key players in this domain comprise Eurofins Scientific, SGS SA, T?V S?D, and Toxikon Corporation.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Medical Device Testing Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Medical Device Testing Market Revenues & Volume, 2021 & 2031F |
3.3 India Medical Device Testing Market - Industry Life Cycle |
3.4 India Medical Device Testing Market - Porter's Five Forces |
3.5 India Medical Device Testing Market Revenues & Volume Share, By Services, 2021 & 2031F |
3.6 India Medical Device Testing Market Revenues & Volume Share, By Technology, 2021 & 2031F |
4 India Medical Device Testing Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing demand for medical devices in India |
4.2.2 Rising focus on quality and safety standards in the healthcare sector |
4.2.3 Growth in research and development activities in the medical device industry |
4.3 Market Restraints |
4.3.1 Stringent regulatory requirements for medical device testing |
4.3.2 Lack of standardized testing protocols |
4.3.3 Limited infrastructure and resources for testing facilities |
5 India Medical Device Testing Market Trends |
6 India Medical Device Testing Market, By Types |
6.1 India Medical Device Testing Market, By Services |
6.1.1 Overview and Analysis |
6.1.2 India Medical Device Testing Market Revenues & Volume, By Services, 2021-2031F |
6.1.3 India Medical Device Testing Market Revenues & Volume, By Testing, 2021-2031F |
6.1.4 India Medical Device Testing Market Revenues & Volume, By Inspection , 2021-2031F |
6.1.5 India Medical Device Testing Market Revenues & Volume, By Certification, 2021-2031F |
6.2 India Medical Device Testing Market, By Technology |
6.2.1 Overview and Analysis |
6.2.2 India Medical Device Testing Market Revenues & Volume, By Active Implant, 2021-2031F |
6.2.3 India Medical Device Testing Market Revenues & Volume, By IVD, 2021-2031F |
6.2.4 India Medical Device Testing Market Revenues & Volume, By Orthopedic & Dental, 2021-2031F |
6.2.5 India Medical Device Testing Market Revenues & Volume, By Opthalmic, 2021-2031F |
6.2.6 India Medical Device Testing Market Revenues & Volume, By Vascular, 2021-2031F |
7 India Medical Device Testing Market Import-Export Trade Statistics |
7.1 India Medical Device Testing Market Export to Major Countries |
7.2 India Medical Device Testing Market Imports from Major Countries |
8 India Medical Device Testing Market Key Performance Indicators |
8.1 Number of medical device testing facilities accredited by regulatory bodies |
8.2 Percentage increase in RD investment in the medical device industry |
8.3 Adoption rate of international quality standards for medical device testing |
9 India Medical Device Testing Market - Opportunity Assessment |
9.1 India Medical Device Testing Market Opportunity Assessment, By Services, 2021 & 2031F |
9.2 India Medical Device Testing Market Opportunity Assessment, By Technology, 2021 & 2031F |
10 India Medical Device Testing Market - Competitive Landscape |
10.1 India Medical Device Testing Market Revenue Share, By Companies, 2024 |
10.2 India Medical Device Testing Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |