Medical Devices Vigilance Market Size, Share, Trend Analysis, Segmentation And Forecast To 2033

"The new report published by The Business Research Company, titled ""Medical Devices Vigilance Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the medical devices vigilance market size has grown strongly in recent years. It will grow from $82.52 billion in 2023 to $90.26 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The medical devices vigilance market size is expected to see strong growth in the next few years. It will grow to $126.17 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%.

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Surging Medical Device Recalls Fuel Growth In The Medical Device Vigilance Market
The increasing number of medical recalls is expected to propel the growth of the medical device vigilance market going forward. Medical recalls refer to the action taken by regulatory authorities, manufacturers, or distributors to remove or correct medical products that pose a risk to public health or do not comply with regulatory standards. Medical device vigilance entails continuous monitoring of medical devices in the market to identify adverse events, malfunctions, or safety concerns that, upon identification, are reported to regulatory authorities, potentially leading to further investigation and, if warranted, a product recall. For instance, in December 2022, the Food and Drug Administration (FDA), a US-based federal agency, observed a rise in medical device recalls, with 442 recalls documented in 2022, up from 331 in 2021, an almost 10% increase from 2021. Therefore, the increasing number of medical recalls is driving the growth of the medical device vigilance market.

Revolutionizing Medical Device Quality Management Greenlight Guru's Innovative Software Solutions
Major companies operating in the medical device devices vigilance market are developing innovative products, such as quality management software, to improve customer satisfaction. Quality management software (QMS) is a formalized system that documents processes, procedures, and responsibilities for achieving quality policies and objectives. For instance, in December 2022, Greenlight Guru, a US-based company providing systems and software to medical device companies, launched QMS software designed to help medical device companies modernize their processes, cut time from clinical testing, and bring safer products to market faster. Greenlight Guru's software is pre-validated per FDA and ISO best practices, aiming to help companies comply with the ever-changing standards. The company also offers training and certifications to help advance careers in product development, quality, and regulatory assurance.

The medical devices vigilance market covered in this report is segmented -

1) By Delivery Mode: On-Demand, On-Premise
2) By Application: Therapeutics, Diagnostics, Surgical, Research, Other Applications
3) By End-User: Original Equipment Manufacturers (OEMs), Clinical Research Organizations (CROs), Business Process Outsourcing (BPO) Firms

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Major companies operating in the medical devices vigilance market are Johnson & Johnson, Intel Corporation, Oracle Corporation, Medtronic, Siemens Healthineers, RELX Group plc, MasterControl Inc., Laerdal Medical, Numerix, Smithers, Omnify Software Inc., Freyr, Sparta Systems, MDI Consultants Inc., Greenlight Guru, Jama Software, Sarjen Systems Pvt. Ltd, Arena Solutions Inc., Xybion Corporation, ZEINCRO Group, Extedo Gmbh, AssurX Inc., AB-Cube, Panacea Pharma Projects Limited, Qvigilance, General Electric (GE) Healthcare, Philips Healthcare, Baxter International, Stryker Corporation, Boston Scientific

Contents of the report:
1. Executive Summary
2. Medical Devices Vigilance Market Report Structure
3. Medical Devices Vigilance Market Trends And Strategies
4. Medical Devices Vigilance Market - Macro Economic Scenario
5. Medical Devices Vigilance Market Size And Growth
…..
27. Medical Devices Vigilance Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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