The Global Medical Device Vigilance Market, by Delivery Mode (On-Demand, and On-Premise), by Application (Therapeutics, Diagnostics, Surgical, and Research), by End Users (Contract Research Organization (CRO), Business Process Outsourcing (BPO), Original Equipment Manufacturers (OEM), and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 53.4 billion in 2018, and is projected to exhibit a CAGR of 8.1%, during the forecast period (2019 - 2026), as highlighted in a new report published by . Increasing number of medical device safety action plans by regulatory authorities is expected to drive growth of the medical device vigilance market. For instance, in April 2018, the U.S. Food and Drug Administration launched a medical device safety action plan based on post marketing surveillance of medical devices which enhances processes and programs in order to ensure medical device safety. Hence, launches of safety action plans are expected to support the medical device vigilance market growth over the forecast period. Furthermore, increasing launches of medical device security platforms is expected to propel growth of medical device vigilance market. For instance, in February 2018, Medigate launched a medical device security platform for healthcare providers. The on premise and cloud-based security platform helps to maintain and improve security of data and patient safety, and prevention of advanced cyber-attacks on medical devices. Browse 23 Market Data Tables and 19 Figures spread through 157 Pages and in-depth TOC on "Medical Device Vigilance Market, by Delivery Mode (On-Demand, and On-Premise), by Application (Therapeutics, Diagnostics, Surgical, and Research), by End Users (Contract Research Organization (CRO), Business Process Outsourcing (BPO), Original Equipment Manufacturers (OEM), and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026" To know the latest trends and insights related to Medical Device Vigilance Market, click the link below: https://www.coherentmarketinsights.com/market-insight/medical-device-vigilance-market-2830 Rise in the number of security plans for medical devices is expected to drive growth of medical device vigilance market. For instance, in January 2019, the Healthcare and Public Health Sector launched a new joint security plan called ‘Medical device security and Health IT Joint Security Plan’. It is a product lifecycle reference guide to develop, support, and deploy cyber security technology solutions in the healthcare environment. Moreover, collaboration strategies adopted by key players are expected to drive growth of the medical device vigilance market. For instance, in July 2017, AB Cube collaborated with Bioclinica. Under this collaboration, AB Cube’s cloud-based vigilance platform joined Bioclinica’s eHealth app xChange for management of adverse drug reactions, and medical device vigilance. Furthermore, increasing number of partnership activities by key players are projected to drive the market growth. For instance, in September 2018, Zingbox partnered with the Medical Device Innovation, Safety and Security Consortium. Under this partnership, Zingbox will provides key information regarding safety and effectiveness of medical devices, which is important for patient safety. Hence, increasing partnership activities are expected to support the medical device vigilance market growth. Key Takeaways of the Medical Device Vigilance Market:
- The global medical device vigilance market is expected to witness a CAGR of 8.1% during the forecast period (2019 – 2026), owing to increasing business expansion activities by key players. For instance, in January 2017, Promenade Software, Inc. launched a new subsidiary organization, MedISAO. MedISAO is composed by the member of medical device community. They are focused on the improvement of safety and effectiveness of medical devices through education, and awareness.
- Among regions, North America is expected to witness significant growth in the medical device vigilance market, owing to increasing partnership activities in the region. For instance, in October 2018, CyberMDX, provider of medical cyber security, partnered with the World Health Information Security Testing Lab (WHISTL). The partnership is focused on improving the safety of medical devices.
- Major 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.
