The Worldwide Medical Equipment Monitoring Market, by Therapeutics, Surgical, and Diagnostics, by Original Equipment Manufacturers [OEM], Business Process Outsourcing (BPO), Contract Research Organizations (CRO), and Others, and by regions, Africa, North America, Latin America, Middle East, Europe, and Asia Pacific, was treasured in 2018 at US$ 53.4 billion and from 2019 to 2026 is anticipated to grow at a CAGR of 8.1%.
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The regulatory authorities’ growing need for medical device safety action plans is anticipated to fuel the market for medical device surveillance. For instance, the U.S. Food and Drug Administration introduced a medical device safety action plan in April 2018 that improves processes and programmes to guarantee medical device safety. This plan is based on post-marketing surveillance of medical devices. Launches of safety action plans are therefore anticipated to support the growth of the medical device monitoring market during the anticipated period. The market for medical device monitoring is also anticipated to grow as a result of the rising launches of medical device security platforms. For instance, Medigate introduced a medical device security platform for healthcare providers in February 2018.
The security platforms that are both on-premise and cloud-based support maintaining and enhancing data security, patient safety, and the prevention of sophisticated cyber-attacks on medical devices.
The market for medical device vigilance is anticipated to grow as the number of security plans for medical devices rises. For instance, the Healthcare and Public Health Sector unveiled its new “Medical device security and Health IT Joint Security Plan” in January 2019.
It is a reference manual for the product lifecycle for creating, maintaining, and implementing cyber security technology solutions in the healthcare setting. Additionally, it is anticipated that key players’ collaboration strategies will fuel the market for medical device vigilance. For instance, AB Cube and Bioclinica worked together in July 2017. As part of this partnership, the eHealth app xChange from Bioclinica and AB Cube’s cloud-based monitoring platform teamed up to manage drug-related adverse reactions and medical device vigilance. In addition, key players are anticipated to engage in an expanding quantity of collaborative operations, which will spur market expansion. For instance, Zingbox and the Medical Equipment Advancement, Safety and Security Consortium collaborated in September 2018.
Zingbox will deliver crucial data on the efficacy and safety of medical devices as part of this partnership, which is crucial for patient safety. As a result, expanding partnership activities are anticipated to support the expansion of the medical device vigilance market.
Key Points:
For instance, Promenade Software, Inc. introduced MedISAO as a new subsidiary in January 2017. A representative from the medical device industry makes up MedISAO. They are concentrated on raising public awareness and enhancing the safety and efficacy of medical devices.
Due to an increase in partnership activities in the region, North America is predicted to experience the largest growth in the medical device vigilance market among all other regions. For instance, in October 2018, the World Health Information Security Testing Lab partnered with CyberMDX, a provider of medical cyber security (WHISTLE). The partnership’s main goal is to increase the security of medical equipment.
Sarjen Systems Pvt., ZEINCRO, Xybion Corporation, AssurX, Oracle Corporation, Inc., and Sparta Systems, are significant market participants in the global medical device vigilance market. Omnify Software, Inc., Ltd., AB-Cube, MDI Consultants, Inc., and Laerdal Medical.
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Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Medical Device Vigilance Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Medical Device Vigilance Industry Impact
Chapter 2 Global Medical Device Vigilance Competition by Types, Applications, and Top Regions and Countries
2.1 Global Medical Device Vigilance (Volume and Value) by Type
2.3 Global Medical Device Vigilance (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Medical Device Vigilance Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Medical Device Vigilance Market Analysis
Chapter 6 East Asia Medical Device Vigilance Market Analysis
Chapter 7 Europe Medical Device Vigilance Market Analysis
Chapter 8 South Asia Medical Device Vigilance Market Analysis
Chapter 9 Southeast Asia Medical Device Vigilance Market Analysis
Chapter 10 Middle East Medical Device Vigilance Market Analysis
Chapter 11 Africa Medical Device Vigilance Market Analysis
Chapter 12 Oceania Medical Device Vigilance Market Analysis
Chapter 13 South America Medical Device Vigilance Market Analysis
Chapter 14 Company Profiles and Key Figures in Medical Device Vigilance Business
Chapter 15 Global Medical Device Vigilance Market Forecast (2022-2028)
Chapter 16 Conclusions
Research Methodology
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