Global Medical Devices Vigilance Market To Show Lucrative Growth With A CAGR Of 8.9%

As per Zion Market Research, the global medical devices vigilance market was capitalized at USD 53 billion in 2019 and is predicted to undergo a striking development with a CAGR of 8.9% from 2019 to 2025.

Key players active in the global market comprise AssurX, AB-Cube, Sarjen Systems, Oracle, Xybion, Sparta Systems, Omnify Software, ZEINCRO, MDI Consultants, INTEL, and Numerix. Industry players are aiming on tactical alliance such as collaboration, mergers, novel offerings, and partnerships to sustain competition and capitalize on market opportunities. For example, AssurX launched AssurX Cloud QMS, a cloud-supported quality management tool, which guarantees quicker production of enhanced goods by managing and monitoring quality of medical machines all over processes in a sole streamlined and centralized system.

Rise In The Number Of Recalls Of Medical Device Owing To Security Problems To Power The Growth Of The Global Market

Rise in the number of recalls of medical device owing to security problems is the major factor boosting the growth of the global market during the forecast period. As per FDA, almost 1.4 million adverse events reported in the US agency in 2015 were sent to the FDA via reporting system for medical device. Increasing awareness amongst users pertaining to reporting of adverse cases and accessibility of medical device monitoring software will positively affect the growth of the global medical devices vigilance market in the years to come.

Favorable Government Programs Pertaining To Medical Devices Monitoring To Boost The Growth Of The Global Market

In addition to this, favorable government programs pertaining to medical devices monitoring to make sure patient security will serve to be one more factor boosting the growth of the global market. Rising burden on manufacturers of medical devices to create safe medical tools as well as strict security laws laid by regulatory agencies pertaining to post- and pre-commercialization of medical machines will additionally power the market size.

Asia Pacific Is Predicted To Undergo Productive Growth Over The Forecast Period

North America commanded the global market with more than 1/3rd income share in 2019 and this high income can be credited to the high requirement in the region for medical devices vigilance. Increasing number of adverse cases reported will elevate acceptance of monitoring systems in the area. Solid foothold of manufacturing companies for medical devices in the area will additionally power the growth of the regional business.

Asia Pacific is predicted to undergo productive growth over the forecast period due to rising aim of manufacturers for medical device on product security. In addition to this, attendance of diverse and large patient pool in the area paired with rise in outsourcing of clinical research will additionally pace growth of the regional market.

Browse the full “Medical Devices Vigilance Market- by Delivery mode (On-demand, On-premise), by Application (Diagnostic, Surgical, Therapeutic, Research sectors), by End-user (Clinical research organizations, Original equipment manufacturers, Business process outsourcing) - Global Industry Perspective Comprehensive Analysis and Forecast, 2020 - 2026.” Report at https://www.zionmarketresearch.com/report/medical-devices-vigilance-market

The global medical devices vigilance market is segmented as follows:

By Delivery Mode

• On-demand
• On-premise

By Application

• Diagnostic
• Therapeutic
• Surgical
• Research

By End-user

• Clinical Research Organizations [CROs]
• Original Equipment Manufacturers [OEMs]
• Business Process Outsourcing [BPO]

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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