Latin America Medical Device Testing And Certification Market Size & Outlook, 2025-2031
Latin America Medical Device Testing And Certification Market Size
According to Straits Research analysis, The Latin America Medical Device Testing And Certification Market was valued at USD 588.55 Million in 2024 and is projected to reach USD 850.58 Million by 2031, expanding at a CAGR of 5.4% during the forecast period. This growth is driven by several sectors, prominently from healthcare industries, pharmaceuticals, and biotechnology firms. The need for vigorous medical equipment testing and validation in these sectors is propelling the market demand. Besides, advancements in technology and the implementation of stringent safety regulations are also contributing to market growth. The trend towards sustainability, low-carbon production methods, and the potential for product exportation are emerging opportunities in this market. As we move forward, Latin America is setting its place strong in this market with strategic measures to harness these emerging trends, showcasing a promising future in the global arena.
Source: Straits Research Analysis Company Publications, Primary Interviews.
Latin America Medical Device Testing And Certification Market Highlights
- Testing Services represented the largest share of the Service Type market in terms of size in 2024.
- Among the Service Type segments, Certification Services is forecasted to achieve the highest growth and remain the most lucrative through the forecast period.
- The global medical device testing and certification market size saw Latin America holding a share of 5.84% in 2024.
- United States is forecasted to account for the leading share of the global market by 2031.
- In Latin America, Mexico is forecasted to be the fastest-expanding market, projected to reach USD 627.02 Million by 2031.
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Report Summary
| Report Scope | Details |
|---|---|
| Base Year for Study | 2024 |
| Study Period | 2021-2031 |
| Historical Period | 2021-2023 |
| Forecast Period | 2025-2031 |
| Market Size In 2024 | USD 588.55 Million |
| Market Size In 2031 | USD 850.58 Million |
| Largest segment | Testing Services |
| Fastest segment | Certification Services |
| Units | Revenue in USD Million |
| CAGR | 5.4% (2025-2031) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends |
Latin America Medical Device Testing And Certification Market Share By Service Type
Segmentation Covered
| Segments | Sub Segments |
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| Country |
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| Service Type |
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| Sourcing Type |
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| Device Class |
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| Technology |
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Latin America Medical Device Testing And Certification Market By Country 2031
Source: Straits Research Analysis Company Publications, Primary Interviews.
Latin America Medical Device Testing And Certification Market By Service Type 2031
Source: Straits Research Analysis Company Publications, Primary Interviews.
Latin America Medical Device Testing And Certification Market By Sourcing Type 2031
Source: Straits Research Analysis Company Publications, Primary Interviews.
Latin America Medical Device Testing And Certification Market By Device Class 2031
Source: Straits Research Analysis Company Publications, Primary Interviews.
Latin America Medical Device Testing And Certification Market By Technology 2031
Source: Straits Research Analysis Company Publications, Primary Interviews.
