Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
According to The Global Medical Device Vigilance Market Report, by Delivery Mode (On-Demand and On-Premise), By Application (Therapeutics, Diagnostics, Surgical, and Research), By End User (Contract Research Organization (CRO), Business Process Outsourcing (BPO), Original Equipment Manufacturers (OEM), and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), published by Coherent Market Insights, the global medical device vigilance market was valued at US$ 53.4 billion in 2018 and is projected to exhibit a CAGR of 8.1%, during the forecast period (2019 – 2026).
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Increasing number of medical device safety action plans is expected to propel growth of the global medical device vigilance market over the forecast period. For instance, in April 2018, the U.S. Food and Drug Administration (FDA) launched a medical device safety action plan based on post marketing surveillance of medical devices, which enhances processes and programs in order to ensure medical device safety. Moreover, increasing number of security plans for medical devices is also expected to drive growth of the market. For instance, in January 2019, the Healthcare and Public Health Sector launched a new joint security plan called ‘Medical device security and Health IT Joint Security Plan’.
Increasing launches of medical device security platforms is also expected to aid in growth of the market. For instance, in February 2018, Medigate launched a medical device security platform for healthcare providers.
To know the latest trends and insights related to Medical Device Vigilance Market Press Release, click the link below: https://www.coherentmarketinsights.com/press-release/medical-device-vigilance-market-to-surpass-us-992-billion-by-2026-1683
Major players in the market are focused on adopting collaboration and partnership strategies to expand their product portfolio. For instance, in July 2017, AB Cube collaborated with Bioclinica, under which AB Cube’s cloud-based vigilance platform was integrated in Bioclinica’s eHealth app xChange for management of adverse drug reactions and medical device vigilance. Similarly, in September 2018, Zingbox partnered with the Medical Device Innovation, Safety and Security Consortium to offer key information regarding safety and effectiveness of medical devices.
In October 2018, CyberMDX, a provider of medical cyber security, partnered with the World Health Information Security Testing Lab (WHISTL) to improve the safety of medical devices.
Major players in the market are also focused on business expansion. For instance, in January 2017, Promenade Software, Inc. launched a new subsidiary organization, MedISAO.
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Key Takeaways
The global medical device vigilance market is expected to witness a CAGR of 8.1% during the forecast period (2019 – 2026)
Increasing number of medical device safety action plans is expected to propel growth of the global medical device vigilance market over the forecast period
Major players operating in the global medical device vigilance market include, ZEINCRO, AssurX, Inc., Sparta Systems, Oracle Corporation, Xybion Corporation, Sarjen Systems Pvt. Ltd., MDI Consultants, Inc., AB-Cube, Laerdal Medical, and Omnify Software, Inc.
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