Medical Device Testing Market Share

APAC Market Forecast

Asia Pacific industry is expected to account for largest revenue share of 35% by 2037. The regional growth is attributed to the large geriatric population in countries, such as India and China.  As the old population rises in the region prevalence of chronic and other kinds of diseases grows leading to the major demand for medical devices and medical device testing.

Moreover, improving healthcare facilities, along with rising health awareness amongst the people, are projected to boost the market growth in this region over the upcoming decades.  

North American Market Statistics

The North American medical device testing market is poised to gain the largest market share throughout the projected period. The regional growth is ascribed to the high investment in testing activities, along with increasing investment in R&D activities in the region. The American Medical Association estimates that the United States spent USD 4.3 trillion, or USD 12.914 per person, on healthcare in 2021.

Additionally, as more medical devices are approved in the area, rising demand for medical device testing services may promote market expansion over the forecast timeframe.