Materiovigilance Market: Rising Number of Medical Device Recalls Expected to Drive Market Growth | AssurX, Sparta Systems, Oracle Corporation, Xybion Corporation



Materiovigilance focuses on medical devices. This means that it investigates incidents and reports them in hopes of removing potentially dangerous devices from the market. In addition, it also helps to improve product quality, which translates into increased patient safety. Therefore, materiovigilance aims to improve patient safety by reducing the risk of adverse events. The National Competent Authority report aims to ensure that all adverse incidents are properly assessed and reported, and that an appropriate process can prevent similar incidents from happening again.

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The objective of materiovigilance is to reduce adverse events and ensure the quality of health products. In India, medical device guidelines require that adverse incidents be investigated and reported in the form of a report from the national competent authority. NCRA reports are intended to prevent the recurrence of adverse events. By following this process, the healthcare industry can ensure the safety of medical devices and patients. Its success is essential to ensure patient safety.

The global materiovigilance market is estimated at US$66.3 billion in 2021 and is expected to show a 8.0% CAGR during the forecast period (2021-2028).

Market factors

The growing number of adverse events related to medical devices is expected to propel the growth of the global materiovigilance market during the forecast period. For example, the number of adverse event reports submitted in 2019 to the National Medical Device Adverse Event Surveillance Information System increased by more than 35%, from 396,345 reports in 2019 to 536,055 reports in 2019. 2020.

Additionally, increasing R&D spending in healthcare is also expected to drive the growth of the global materiovigilance market over the forecast period. For example, China’s spending on health research and development rose 11.6% in 2017 from 10.6% in 2016, reaching US$280 million in 2017, according to the National Bureau of Health. statistics.

Market opportunities

The launch of the post-marketing surveillance study is expected to provide lucrative growth opportunities for players in the global materiovigilance market. For example, LifeTech Scientific Corporation, in July 2017, initiated a post-marketing surveillance study for Lambre’s Left Atrial Appendage (LAA) Closure System.

Covid-19 impact analysis

Regulators have ordered health centers to monitor serious adverse events from faulty medical devices used by healthcare workers and patients to fight COVID-19. In April 2020, on behalf of the Medical Device Vigilance Program of India, the Pharmacopoeia Commission of India sent circulars to all 50 Medical Device Adverse Event Reporting Centers in the country to monitor serious adverse events due to faulty ventilators or PPE used in healthcare. staff and patients to fight COVID-19.

Market trends

The growing number of medical registries for medical implants is expected to propel the growth of the global materiovigilance market. For example, the US Department of Veterans Affairs, in June 2018, with collaborative support from the US FDA, Centers for Medicare and Medicaid Services (CMS), and Department of Defense, announced plans to launch the largest registry monitoring of medical device implants in the United States. The new registry will allow it to monitor device safety among veterans and their families, as well as track quality metrics and improve care.

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Moreover, the growing number of medical device platforms is also expected to contribute to the growth of the global materiovigilance market. For example, First Databank Inc. in February 2017 launched FDB Prizm, a new medical device knowledge platform that helps improve clinical, operational and financial outcomes.

Key players

Key players operating in the global materiovigilance market include, AB-Cube, AssurX, MDI Consultants, Oracle Corporation, QVigilance, Qserve, Sparta Systems, Sarjen Systems Pvt. Ltd., Xybion Corporation and ZEINCRO

Reasons to Buy this Medical Device Vigilance Market Report

☑ It attempts an analysis of the competing scenario.

☑ Current and exceptional product revenue market.

☑ In-depth data on regional survey and competitive landscape structure.

☑ It benefits from creating awareness of important key product segments.

☑ Marketing strategies, opportunities and development factors are explained.

☑ The Medical Device Vigilance market size estimation and recent advancements in the industry are explained.

The objectives of the study are:

✔ A comprehensive overview of major players operating in the Medical Devices Market and their corresponding data.
✔ It includes product portfolio, annual revenue, research and development expenditure, geographical presence, key developments in recent years and growth strategies.
✔ Regional analysis, which includes an overview of the dominant market and the corresponding market share.
✔ It also includes various socio-economic factors affecting the development of the market in the region.
✔ The report offers a comprehensive overview of the various individuals in the value chains such as raw material suppliers, distributors and shareholders.

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Chapter 1 Industry overview
1.1 Definition
1.2 Assumptions
1.3 Scope of research
1.4 Market Analysis by Regions
1.5 Medical Device Vigilance Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Impact on Medical Device Vigilance Industry

Chapter 2 Global Medical Device Vigilance Competition by Types, Applications and Top Regions and Countries
2.1 Overall materiovigilance (volume and value) by type
2.3 Global Medical Devices (Volume and Value) by Regions

chapter 3 Generation market analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis

Chapter 4 Global Medical Devices Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 Analysis of the materiovigilance market in North America
Chapter 6 Analysis of the materiovigilance market in East Asia
Chapter 7 Analysis of the materiovigilance market in Europe
Chapter 8 Analysis of the materiovigilance market in South Asia
Chapter 9 Analysis of the materiovigilance market in Southeast Asia
Chapter 10 Analysis of the materiovigilance market in the Middle East
Chapter 11 Analysis of the materiovigilance market in Africa
Chapter 12 Analysis of the materiovigilance market in Oceania
Chapter 13 Analysis of the materiovigilance market in South America
Chapter 14 Company profiles and key figures for materiovigilance activities
Chapter 15 Global Medical Device Vigilance Market Forecast (2022-2028)
Chapter 16 conclusion
Research Methodology

Report customization

Our research analysts will help you get custom details for your report, which can be modified based on a specific region, application, or any other statistical detail. Additionally, we are always willing to comply with the study, which has been triangulated with your own data to make the market research more comprehensive from your perspective.

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