The global medical device vigilance market will exceed US $ 113.5 billion

SEATTLE, November 24, 2021 (GLOBE NEWSWIRE) – According to Coherent Market Insights, the global market materiovigilance market is estimated at $ 66.3 billion in 2021 and should present a TCCA of 8.0% during the forecast period (2021-2028).

Key trends and analysis of the global medical device vigilance market:

Key market trends include the increasing penetration of hospitals across the globe to meet changing patient medical demands as well as the availability of advanced medical equipment. Governments around the world are also investing heavily in building hospitals in developed and emerging economies to meet growing patient needs and provide safe and reliable healthcare solutions. For example, the India Brand Equity Foundation (IBEF) reported that the Indian government, in its 2020-21 Union budget, announced an investment of US $ 9.87 billion for health sector development. . The government also aimed to increase health spending to 3% of total gross domestic product by 2022.

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Key points of the market:

The global medical device vigilance market is expected to post a CAGR of 8.0% during the forecast period. An increase in launches of recall systems for medical devices is expected to drive the growth of the global medical device vigilance market during the forecast period. For example, in April 2017, the South Korean Ministry of Food and Pharmaceutical Safety (MFDS) launched a new recall system called “Harmful Medical Device Distribution Shutdown System” for medical devices.

Among the applications, the cloud segment is expected to hold a dominant position in the global medical device vigilance market during the forecast period. Key market players such as AssurX and AB-Cube, which focus on developing advanced cloud-based quality management software systems, will increase its adoption. Thus, it is expected to drive the growth of the segment during the forecast period. Moreover, the increasing launch of monitoring projects in the medical devices market is expected to drive the growth of the segment during the forecast period. For example, in November 2016, the Medicines and Healthcare Regulatory Agency (MHRA) launched a new market surveillance project (Joint Action on Medical Device Market Surveillance) in Europe. The main objective of this project was to support the surveillance systems of the medical device market by improving and developing coordination activities.

On the basis of region, North America is expected to hold a dominant position in the global medical device vigilance market during the forecast period, owing to the increasing launches of safety plans for medical devices. For example, in January 2019, the health and public health sector, it protects all sectors of the economy from dangers such as terrorism, epidemics of infectious diseases and natural disasters., Launched a new common security plan called Medical Device Security and Health IT Joint Security Plan. It is a reference product lifecycle guide for the development, support and deployment of cybersecurity technology solutions in the healthcare environment.

Competitive landscape:

The main players operating in the global medical device vigilance market are AssurX, Sparta Systems, Oracle Corporation, Xybion Corporation, Sarjen Systems Pvt. Ltd., MDI Consultants, AB-Cube, QVigilance, Qserve and ZEINCRO.

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Market segmentation :

  • Global medical device vigilance market, by delivery method:
  • Global Medical Device Market, By Application:
    • Diagnosis request
    • Therapeutic application
    • Surgical application
    • Search request
    • Others
  • Global medical device vigilance market, by end users:
    • Contract research organization
    • Subcontracting
    • Original equipment manufacturers
    • Others
  • Global medical device vigilance market, by region:
    • North America
    • Latin America
      • By country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By country
        • Germany
        • UK
        • France
        • Italy
        • Spain
        • Russia
        • The rest of europe
    • Asia Pacific
      • By country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia-Pacific
    • Middle East
      • By country
        • CCG
        • Israel
        • Rest of the Middle East
    • Africa
      • By country / region
        • South Africa
        • central Africa
        • North Africa

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