close
Enquiry IconContact Us
Logo

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.

Materiovigilance is the coordinated system of identification, collection, reporting, and analysis of any untoward occurrences associated with the use of medical devices and protection of patient's health by preventing its recurrences. The purpose of materiovigilance is to study and follow incidents that might result from using medical devices. It enables dangerous devices to be withdrawn from the market and to eliminate faults in medical devices with the intention of constantly improving the quality of devices and providing patients and users with increased safety.

The global materiovigilance market is estimated to be valued at US$ 66.3 billion in 2021 and is expected to exhibit a CAGR of 8.0% during the forecast period (2021-2028).

Figure 1.Global Materiovigilance Market Share (%) in Terms of Value, By Delivery Mode, 2021

Materiovigilance  | Coherent Market Insights

Increase in the number of medical device recalls is expected to drive the market growth during the forecast period

The increase in the number of medical device recalls due to technical defects is expected to drive the global materiovigilance market growth over the forecast period. For instance, according to data published by Medical Device and Diagnostic Industry (MD+DI), is a resource exclusively for original equipment manufacturers of medical devices and in vitro diagnostic products, in June 2021, the number of medical device recalls issued during the first half of 2021 is higher than the number of recalls issued during the first half of each of the previous five years. First half of 2021, US Food and Drug Administration (US FDA) had reported 29 medical device recalls.

request-sample

Materiovigilance Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 66.3 Bn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 8.0% 2028 Value Projection: US$ 113.5 Bn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Delivery Mode: On-premise, On-cloud
  • By Application: Diagnostic Application, Therapeutic Application, Surgical Application, Research Application, Others
  • By End Users: Contract Research Organization, Business Process Outsourcing, Original Equipment Manufacturers, Others
Companies covered:

AssurX, Sparta Systems, Oracle Corporation, Xybion Corporation, Sarjen Systems Pvt. Ltd., MDI Consultants, AB-Cube, QVigilance, Qserve, and ZEINCRO  

Growth Drivers:
  • Increase in the number of medical device recalls
  • Increase in the number of post-market surveillance programs
Restraints & Challenges:
  • Increasing complexity of safety regulations
  • Lack of skilled professionals in underdeveloped and emerging economies

Figure 2.Global Materiovigilance Market Share (%), By End Users, 2021

Materiovigilance  | Coherent Market Insights

Increase in the number of post-market surveillance programs is expected to drive the market growth during the forecast period

Increase in the number of post-market surveillance programs for medical device is expected to drive the global materiovigilance market growth during the forecast period. For instance, in April 2020, Veeva Systems Inc., a leader in cloud-based software for the global life sciences industry, announced Veeva Vault Product Surveillance, a new cloud application for medical device and diagnostics to simplify and standardize the postmarket surveillance process.

Global Materiovigilance Market– Impact of Coronavirus (COVID-19) Pandemic

The rapid global spread of COVID-19 is challenging healthcare systems worldwide in terms of healthcare planning, infrastructure, and spending. Healthcare professionals are forced to treat severely ill patients with limited access to ventilation equipment, qualified intensive care personnel or protective patient monitoring devices. Since December 2019, a novel coronavirus spread throughout China and across the world, causing a continuous increase in confirmed cases within a short period of time. The disease has spread to more than 200 countries across the globe with the World Health Organization declaring it as a public health emergency. For instance, according to the World Health Organization Coronavirus Disease (COVID-19) Dashboard (WHO) report, the manifestation of the coronavirus disease (COVID-19) has resulted in more than 118 million infected individuals worldwide as of March 11, 2021. The coronavirus (COVID 19) pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors. The private healthcare sector is one the sectors which has been majorly impacted by the COVID-19 pandemic. The lockdown in various countries has created an economic burden on the private healthcare sector. Healthcare providers were facing challenges with regards to manpower, equipment, and other resources to ensure safety in the treatment of patients with other diseases, and has resulted in declining outpatients visits of patients to the hospitals and clinics during the COVID-19. Moreover, the coronavirus pandemic has negatively impacted the development and supply of services, and affected growth of the healthcare businesses of various companies across the globe. This has led to closure of industrial establishments, except manufacturing of essential commodities and disruption in supply chain of products and services. Thus, COVID-19 pandemic has affected the economy in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets.

Global Materiovigilance Market: Restraint

The major factors that hinder growth of the global materiovigilance market include increasing complexity of safety regulations and lack of skilled professionals in underdeveloped and emerging economies. For instance, according to data published by Organization for Economic Co-operation and Development (OECD) in 2016, around 50% of formal firms do not find the workforce with the skills they need in Latin America compared to 36% of firms in OECD countries.

Key Players

Key players operating in the market include AssurX, Sparta Systems,  Oracle Corporation,  Xybion Corporation,  Sarjen Systems Pvt. Ltd.,  MDI Consultants,  AB-Cube,  QVigilance,  Qserve, and ZEINCRO

Materiovigilance, also known as medical device vigilance, is the collection, assessment, reporting and identification of trends in incidents resulting from the use of medical devices. Medical device vigilance aims to protect the patients, healthcare facilities utilizing medical devices, and others by preventing or reducing the occurrence of errors that leads to harmful incidents and adverse effects. The detection of technical issues and potential adverse effects associated with medical devices is monitored by materiovigilance. Materiovigilance includes postmarket surveillance, adverse reactions, incidents and recalls of medical devices. Adverse reactions can occur due to use of medical devices and can have severe consequences.

Market Dynamics

Factors such as increasing launches of security plans for medical devices and increasing number of medical device platforms are expected to drive the growth of the global materiovigilance market over the forecast period. For instance, in July 2017, Medical Device Innovation, Safety and Security Consortium (MDISS), a non-profit professional organization with a focus on the safety and security of medical devices, launched a new security testing lab called the World Health Information Security Testing Lab (WHISTL) for medical devices. WHISTL focuses on management and improvement of medical device security and education. For instance, according to data published by Meditology Services, is an IT company that provides security and privacy risk assessment solutions, in August 2021, the U.S. Food and Drug Administration announced a plan to improve cybersecurity practices for medical devices in response to the White House’s effort to bolster cybersecurity across the supply chain.

Key features of the study:

  • This report provides an in-depth analysis of the global materiovigilance market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global materiovigilance market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, strategies
  • Key companies covered as a part of this study include AssurX, Sparta Systems, Oracle Corporation, Xybion Corporation, Sarjen Systems Pvt. Ltd., MDI Consultants, AB-Cube, QVigilance, Qserve, and ZEINCRO 
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global materiovigilance market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global materiovigilance market

Detailed Segmentation:

  • Global Materiovigilance Market, By Delivery Mode :
    • On-premise
    • On-cloud
  • Global Materiovigilance Market, By Application:
    • Diagnostic Application
    • Therapeutic Application
    • Surgical Application
    • Research Application
    • Others
  • Global Materiovigilance Market, By End users:
    • Contract Research Organization
    • Business Process Outsourcing
    • Original Equipment Manufacturers
    • Others
  • Global Materiovigilance Market, By Region:
    • North America
      • By Delivery Mode 
        • On-premise
        • On-cloud
      •  By Application
        • Diagnostic Application
        • Therapeutic Application
        • Surgical Application
        • Research Application
        • Others
      • By End users
        • Contract Research Organization
        • Business Process Outsourcing
        • Original Equipment Manufacturers
        • Others
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Delivery Mode 
        • On-premise
        • On-cloud
      •  By Application
        • Diagnostic Application
        • Therapeutic Application
        • Surgical Application
        • Research Application
        • Others
      • By End users
        • Contract Research Organization
        • Business Process Outsourcing
        • Original Equipment Manufacturers
        • Others
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Delivery Mode 
        • On-premise
        • On-cloud
      •  By Application
        • Diagnostic Application
        • Therapeutic Application
        • Surgical Application
        • Research Application
        • Others
      • By End users
        • Contract Research Organization
        • Business Process Outsourcing
        • Original Equipment Manufacturers
        • Others
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Delivery Mode 
        • On-premise
        • On-cloud
      •  By Application
        • Diagnostic Application
        • Therapeutic Application
        • Surgical Application
        • Research Application
        • Others
      • By End users
        • Contract Research Organization
        • Business Process Outsourcing
        • Original Equipment Manufacturers
        • Others
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Delivery Mode 
        • On-premise
        • On-cloud
      •  By Application
        • Diagnostic Application
        • Therapeutic Application
        • Surgical Application
        • Research Application
        • Others
      • By End users
        • Contract Research Organization
        • Business Process Outsourcing
        • Original Equipment Manufacturers
        • Others
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Delivery Mode 
        • On-premise
        • On-cloud
      •  By Application
        • Diagnostic Application
        • Therapeutic Application
        • Surgical Application
        • Research Application
        • Others
      • By End users
        • Contract Research Organization
        • Business Process Outsourcing
        • Original Equipment Manufacturers
        • Others
      • By Country/Region
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • AssurX   *
      • Company Highlights
      • Products Portfolio
      • Key Highlights
      • Financial Performance
      • Strategies
    • Sparta Systems
    • Oracle Corporation
    • Xybion Corporation
    • Sarjen Systems Pvt. Ltd
    • MDI Consultants
    • AB-Cube
    • QVigilance
    • Qserve
    • ZEINCRO  

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snapshot, By Delivery Mode
      • Market Snapshot, By Application
      • Market Snapshot, By End Users
      • Market Snapshot, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Opportunity
    • Impact Analysis
    • Regulatory Scenario
    • Market Trends
    • Key Developments
    • PEST Analysis
  4. Global Materiovigilance Market– Impact of Coronavirus (COVID-19) Pandemic
    • COVID-19 Impact Assessments  
    • Government Measures To Combat COVID-19
  5. Global Materiovigilance Market, By Delivery Mode, 2017 – 2028, (US$ Bn)
    • Introduction
      • Market Share Analysis, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, 2017 – 2028
      • Segment Trends
    • On-premise
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Bn)
    • On-cloud
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Bn)
  6. Global Materiovigilance Market, By Application, 2017 – 2028, (US$ Bn)
    • Introduction
      • Market Share Analysis, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, 2017 – 2028
      • Segment Trends
    • Diagnostic Application
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Bn)
    • Therapeutic Application
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Bn)
    • Surgical Application
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Bn)
    • Research Application
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Bn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Bn)
  7. Global Materiovigilance Market, By End Users, 2017 – 2028, (US$ Bn)
    • Introduction
      • Market Share Analysis, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, 2017 – 2028
      • Segment Trends
    • Contract Research Organization
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Bn)
    • Business Process Outsourcing
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Bn)
    • Original Equipment Manufacturers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Bn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Bn)
  8. Global Materiovigilance Market, By Region, 2017 – 2028, (US$ Bn)
    • Introduction
      • Market Share Analysis, By Region, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2028
      • Regional Trends
    • North America
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, By Delivery Mode, 2017 – 2028, (US$ Bn)
      • Market Size and Forecast, and Y-o-Y Growth, By Application, 2017 – 2028, (US$ Bn)
      • Market Size and Forecast, and Y-o-Y Growth, By End Users, 2017 – 2028, (US$ Bn)
      • Market Size and Forecast, and Y-o-Y Growth, By Countries, 2017 – 2028, (US$ Bn)
        • U.S.
        • Canada
    • Latin America
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, By Delivery Mode, 2017 – 2028, (US$ Bn)
      • Market Size and Forecast, and Y-o-Y Growth, By Application, 2017 – 2028, (US$ Bn)
      • Market Size and Forecast, and Y-o-Y Growth, By End Users, 2017 – 2028, (US$ Bn)
      • Market Size and Forecast, and Y-o-Y Growth, By Countries, 2017 – 2028, (US$ Bn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, By Delivery Mode, 2017 – 2028, (US$ Bn)
      • Market Size and Forecast, and Y-o-Y Growth, By Application, 2017 – 2028, (US$ Bn)
      • Market Size and Forecast, and Y-o-Y Growth, By End Users, 2017 – 2028, (US$ Bn)
      • Market Size and Forecast, and Y-o-Y Growth, By Countries, 2017 – 2028, (US$ Bn)
        • U.K.
        • Germany
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, By Delivery Mode, 2017 – 2028, (US$ Bn)
      • Market Size and Forecast, and Y-o-Y Growth, By Application, 2017 – 2028, (US$ Bn)
      • Market Size and Forecast, and Y-o-Y Growth, By End Users, 2017 – 2028, (US$ Bn)
      • Market Size and Forecast, and Y-o-Y Growth, By Countries, 2017 – 2028, (US$ Bn)
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, By Delivery Mode, 2017 – 2028, (US$ Bn)
      • Market Size and Forecast, and Y-o-Y Growth, By Application, 2017 – 2028, (US$ Bn)
      • Market Size and Forecast, and Y-o-Y Growth, By End Users, 2017 – 2028, (US$ Bn)
      • Market Size and Forecast, and Y-o-Y Growth, By Countries, 2017 – 2028, (US$ Bn)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, By Delivery Mode, 2017 – 2028, (US$ Bn)
      • Market Size and Forecast, and Y-o-Y Growth, By Application, 2017 – 2028, (US$ Bn)
      • Market Size and Forecast, and Y-o-Y Growth, By End Users, 2017 – 2028, (US$ Bn)
      • Market Size and Forecast, and Y-o-Y Growth, By Countries/Region, 2017 – 2028, (US$ Bn)
        • North Africa
        • Central Africa
        • South Africa
  9. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis
      • AssurX
        • Company Highlights
        • Product Portfolio
        • Key Highlights
        • Financial Performance
        • Strategies
      • Sparta Systems
        • Company Highlights
        • Product Portfolio
        • Key Highlights
        • Financial Performance
        • Strategies
      • Oracle Corporation
        • Company Highlights
        • Product Portfolio
        • Key Highlights
        • Financial Performance
        • Strategies
      • Xybion Corporation
        • Company Highlights
        • Product Portfolio
        • Key Highlights
        • Financial Performance
        • Strategies
      • Sarjen Systems Pvt. Ltd.
        • Company Highlights
        • Product Portfolio
        • Key Highlights
        • Financial Performance
        • Strategies
      • MDI Consultants
        • Company Highlights
        • Product Portfolio
        • Key Highlights
        • Financial Performance
        • Strategies
      • AB-Cube
        • Company Highlights
        • Product Portfolio
        • Key Highlights
        • Financial Performance
        • Strategies
      • QVigilance
        • Company Highlights
        • Product Portfolio
        • Key Highlights
        • Financial Performance
        • Strategies
      • Qserve
        • Company Highlights
        • Product Portfolio
        • Key Highlights
        • Financial Performance
        • Strategies
      • ZEINCRO
        • Company Highlights
        • Product Portfolio
        • Key Highlights
        • Financial Performance
        • Strategies
    • Analyst Views
  10. Section
    • Research Methodology
    • About us

*Browse 27 market data tables and 31 figures on "Global Materiovigilance Market” - Global forecast to 2028

FAQgrowicon

Frequently Asked Questions

The global materiovigilance market size is estimated to be valued at US$ 66.3 billion in 2021 and is expected to exhibit a CAGR of 8.0% between 2021 and 2028
Factors such as increasing number of medical device recalls and increase in the number of postmarket surveillance programs are expected to drive the market growth during the forecast period.
On-cloud segment is expected to hold a major market share during the forecast period.
The major factors hampering the growth of the market include increasing complexity of safety regulations and lack of skilled professionals in underdeveloped and emerging economies.
Major players operating in the market include AssurX, Sparta Systems, Oracle Corporation, Xybion Corporation, Sarjen Systems Pvt. Ltd., MDI Consultants, AB-Cube, QVigilance, Qserve, and ZEINCRO
Existing Clientele

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients

Our Trusted Patner

Subscribe Newsletter

Kindly subscribe for our latest news & articles.