Medical Device Vigilance Market and its Key Opportunities and Challenges

Medical device vigilance includes post market surveillance, adverse reactions, incidents and recalls of medical devices. The main purpose of medical device vigilance is to improve health and safety of patients by reducing reoccurrence of incidences related to use of medical devices. Adverse reactions can occur due to use of medical devices and can have severe consequences.

The global medical device vigilance market was valued at US$ 53.4 billion in 2018, and is expected to witness a CAGR of 8.1% during the forecast period (2019 - 2026).

Increasing number of recall systems is one of the major factors driving the market growth. For instance, in April 2017, the South Korean Ministry of Food and Drug Safety (MFDS) launched a new recall system called 'Harmful Medical Device Distribution Shutdown System', for medical devices. Examples of medical devices recalled under this system are thermometers, pregnancy test kits, and electronic blood pressure monitors.

Furthermore, increasing number of post market surveillance programs for medical devices is expected to propel growth of the medical device vigilance market. For instance, in April 2015, Lombard Medical, Inc. launched a post market surveillance program for Aorfix. Aorfix is a medical device, used for the treatment of patients with aortic neck angulations up to 90 degrees.

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This report provides an overview of the Medical Device Vigilance industry, including its basic introduction, applications, and advanced manufacturing techniques. So as to get a more extreme view of the market size, the competitive landscape is served. This includes Medical Device Vigilance market revenue share (%) by key players (2013-2018) and revenue (in Million USD) by top leading companies (2013-2018).

Competitive Analysis:

The major companies are exceedingly focused on innovation in Medical Device Vigilance production technology to enhance ledge life and efficiency. The best long-term development path for Medical Device Vigilance market can be caught by guaranteeing financial pliancy to invest in the optimal strategies and current process improvement.

The Medical Device Vigilance industry company profile section of ZEINCRO, AssurX, Inc., Sparta Systems, Oracle Corporation, Xybion Corporation, Sarjen Systems Pvt. Ltd., MDI Consultants, Inc., AB-Cube, Laerdal Medical, and Omnify Software, Inc.

Each manufacturer or Medical Device Vigilance market player's growth rate, revenue figures, and gross profit margin is provided in a tabular, simple format for few years and an individual section on Medical Device Vigilance market recent development such as collaboration, acquisition, mergers, and any new service or new product launching in the market is offered.

Topographical Study: Europe, US, Japan, Southeast Asia, and Central & South America, China and India.

A detailed profile for more than 10 leading manufacturers is included, along with the financial history, to analyze the latest performance of the Medical Device Vigilance market. Latest and revised discussion of major Medical Device Vigilance market and influences the market is considered with a thought-provoking qualitative state on Medical Device Vigilance market future threats, challenges, and opportunities. This report integrates the best of statistically applicable quantitative data from the Medical Device Vigilance industry, along with detailed and relevant qualitative study and comment.

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Customized country-level and region-wise reports for the following regions:

- North America: US, Canada, and Mexico.

- South & Central America: Chile, Argentina, and Brazil.

- Middle East & Africa: UAE, Turkey, Saudi Arabia, Egypt, and South Africa.

- Europe: United Kingdom, France, Spain, Italy, Germany, and Russia.

- Asia-Pacific: Japan, India, China, Singapore, South Korea, Indonesia, and Australia.

The following years taken into consideration in this research to forecast the global Medical Device Vigilance market size are as follows:

History Year: 2013-2018

Base Year: 2018

Estimated Year: 2019

Forecast Year: 2020 to 2026

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