Press Releases

The global TIC market for medical devices industry is expected to witness a CAGR of 6.2% during the forecast period. TIC market for medical devices industry is anticipated to witness a CAGR of. during the forecast period owing to the rising demand for verification and validation of medical devices, rising demand for rapid testing kits, and other diagnostic devices globally.

The TIC (Testing, Inspection, and Certification) market plays a crucial role in the medical devices industry. TIC services are essential for ensuring the safety, quality, and regulatory compliance of medical devices before they reach the market. These services help manufacturers, importers, and distributors meet the stringent requirements set by regulatory authorities and provide assurance to end-users regarding the reliability and effectiveness of medical devices.

Increasing Regulatory Compliance: The medical devices industry is subject to stringent regulations to ensure patient safety and product efficacy. TIC services are crucial for manufacturers to meet these regulatory requirements and obtain necessary certifications.

Global Market Expansion: Medical device manufacturers are increasingly targeting international markets. TIC services help them navigate complex regulatory landscapes and meet the diverse requirements of different countries, enabling market access and expansion.

German technical services provider TUV Rheinland’s Indian subsidiary has partnered with Andhra Pradesh MedTech Zone (AMTZ) to create an infrastructure for Electro-Magnetic Interference (EMI/EMC) at an investment of Rs 85 crore over four to five years. The public-private partnership is aimed at reducing the medical devices imports and production cost and to help deliver quality medical devices to the local market.

Browse 53 market data Tables and 35 Figures spread through 250 Pages and in-depth TOC on " TIC Market for Medical Devices  Industry by Sourcing Type (In-House and Outsourced), by Service Type (Testing, Inspection, and Certification), by Industry Vertical (In-Vitro Diagnostics, Dental Equipment, Ophthalmic Devices, Diagnostic Equipment, Hospital Supplies, Cardiovascular Devices, Surgical Equipment, Patient Monitoring Devices, Orthopedic Devices, Diabetes Care Devices, Nephrology And Urology Devices, ENT Devices, Anesthesia And Respiratory Devices, Neurology Devices, Wound Care Devices, Implantable devices, Batteries and Medical Components, Home Healthcare Devices, and Others), and Region - Global Forecast to 2030"

By service type, testing is growing at a significant pace in the TIC market for the medical devices industry during the forecast period.

Based on service type, the TIC market for the medical devices industry is segmented into testing, inspection, and certification. Testing in the TIC market for the medical devices industry is rising owing to the demand for good quality and standard products in various countries. Example- electromagnetic device testing, biocompatibility testing, clinical research services to assess the final product and investigate faulty material and testing its performance and electrical safety.

Global TIC Market for Medical Devices Industry Segmentation Analysis

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“APAC is anticipated to witness high CAGR during the forecast period in the TIC market for medical devices industry.”

APAC is anticipated to have a high CAGR owing to the increasing per capita income among the middle class, and stringent government regulations to maintain quality and safety standards will propel the growth of the TIC market for medical devices in the region.

Some of the key players operating in the TIC market in the medical devices industry: Intertek Group plc, Bureau Veritas, UL LLC, SGS SA, Eurofins Scientific, The British Standards Institution, TUV Rheinland, DEKRA SE, Element Materials Technology, and TUV SUD.

Scope of the Report

Global TIC Market for Medical Devices Industry- Market Coverage

Sourcing Type Insight and Forecast 2018-2030

• In-House
• Outsourced

Service Type Insight and Forecast 2018-2030

• Testing
• Inspection
• Certification

Industry Vertical Insight and Forecast 2018-2030

• In-Vitro Diagnostics
• Dental Equipment
• Ophthalmic Devices
• Diagnostic Equipment
• Hospital Supplies
• Cardiovascular Devices,
• Surgical Equipment
• Patient Monitoring Devices
• Orthopedic Devices
• Diabetes Care Devices
• Nephrology And Urology Devices
• ENT Devices
• Anesthesia And Respiratory Devices
• Neurology Devices
• Wound Care Devices
• Implantable Devices
• Batteries and Medical Components
• Home Healthcare Devices
• Others

Geographical Segmentation

TIC Market for Medical Devices Industry by Region

North America

• By Sourcing Type
• By Service Type
• By Industry Vertical
• By Country – U.S., Canada, and Mexico

Europe

• By Sourcing Type
• By Service Type
• By Industry Vertical
• By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

• By Sourcing Type
• By Service Type
• By Industry Vertical
• By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

• By Sourcing Type
• By Service Type
• By Industry Vertical
• By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries