Impact Analysis of Covid-19 On Global Medical Device Vigilance Market Continues to Expand to Support Development and Top Players: ZEINCRO, AssurX, Sparta Systems

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.

Get a sample copy @: https://www.coherentmarketinsights.com/insight/request-sample/2830

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 (2020 – 2027).

Regional segmentation of the global medical device vigilance market includes North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

North America medical device vigilance market is expected to account for the largest market share, owing to increasing number of national registries for medical implant devices in this region. For instance, in June 2018, The Veterans Affairs launched the national medical registry for medical implant devices. The purpose of this registry is to monitor device safety, track quality metrics, and ensure optimal care of patients.

Moreover, Europe is also projected to witness significant market growth owing to launch of medical device market surveillance projects in this region. For instance, in November 2016, the Medicines and Healthcare Regulatory Agency (MHRA) launched a new market surveillance project (joint action on market surveillance of medical devices) in Europe. The main aim of this project is to support market surveillance systems for medical devices by improving and developing coordination activities. This includes surveillance of various medical devices such as sticking plasters, hip replacements, contact lenses, personal oxygen tanks, and implemented pacemakers.

Asia Pacific is also expected to contribute significant share in the global medical device vigilance market over the forecast period, owing to increasing launches of medical device surveillance programs in this region. For instance, in May 2015, the Government of India launched a nationwide safety and surveillance program named ‘Materio-vigilance Programme of India’ for medical devices. This program is designed to monitor medical device related adverse drug reactions and to determine the safety of medical devices.

Get Your Copy at a Discount @: https://www.coherentmarketinsights.com/insight/request-discount/2830

Key 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.

Coherent Market Insights 1001 4th Ave,
#3200 Seattle, WA 98154,U.S.
Phone: US +1-206-701-6702/UK +44-020 8133 4027
Email: sales@coherentmarketinsights.com

About Us:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

This release was published on openPR.