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Materiovigilance Market By Delivery Mode (On-premise and On-cloud), By Application (Diagnostic Application, Research Application, Surgical Application, Therapeutic Application, Others), By End Users (Business Process Outsourcing, Contract Research Organization, Original Equipment Manufacturers, Others), and By Region - Size, Share, and Opportunity Analysis, 2021 - 2027

Format: PDF | Pages: 298 | Report ID: MRS1104


Report Description

The global Materiovigilance Market size is estimated at USD 90,504.1 Million in 2020, expanding at a CAGR of 8.2% from 2021-2027 to reach 118,003.3 Million USD in 2027.

Market Dynamics

Materiovigilance, commonly known as medical device vigilance, is the assessment, collection, detection, and reporting of patterns in medical device-related occurrences. The goal of medical device vigilance is to safeguard patients, health institutions that use medical equipment, and others by avoiding or lowering the occurrence of mistakes that result in dangerous occurrences and unpleasant effects. Materialovigilance monitors the identification of technical difficulties and potentially harmful effects connected with medical equipment. Materiovigilance includes adverse reactions, postmarket surveillance, events, and medical device shortages. Adverse responses to medical equipment can occur and have serious implications.

Factors such as increased releases of medical equipment security plans and an increase in the number of medical equipment platforms are likely to boost the growth of the worldwide materiovigilance market during the forecast period. For example, the MDISS, a non-profit expert group focused on medical device security and safety, created the WHISTL for medical devices. WHISTL focuses on medical product security and education management and development. According to data published by Meditology Services, which is an IT firm that delivers privacy and security threat assessment solutions, the U.S. Food and Drug Administration proposed a plan to keep improving cybersecurity practices for medical devices in August 2021 in reaction to the White House's attempt to bolster cybersecurity across the distribution chain.

Regional Insights

North America is predicted to have a leading position in the worldwide materiovigilance market throughout the projected timeframe, owing to increased releases of medical device security programs. For example, in January 2019, the Healthcare and Public Health Sector, which helps protect all industries from threats such as infectious disease outbreaks, terrorism, and natural calamities, introduced a new joint security policy known as the Medical Device Security and Health IT Joint Security Solution.

Segment Insights

Delivery Mode, Application, and end-users are the three segments that make up the Materiovigilance market. The research application segment is predicted to have the highest CAGR in the global materiovigilance market in the upcoming years. Increasing R&D spending by players, organizations, and governments, among others, is likely to boost segment growth throughout the forecast period. The broad range of medical equipment participating in R&D activities would enhance the requirement to ensure the safety of this equipment, promoting market expansion.

Competitive Insights

Major companies in the industry participate in strategic acquisitions and mergers, alliances, and new product releases to stay competitive in the market. Veeva Systems Inc., for example, has released a new version of Veeva Vault Product Surveillance around April 2020. The firm is the market leader in cloud-based software. The software has been released for use in diagnosis and medical equipment.

The report begins with an overview of the Industry Chain structure, describes the industry environment, then analyses the market size and forecast of the Materiovigilance Market by Delivery Mode, Application, End Users, formulation, application, and region. In addition, this report introduces the market competition situation among the vendors, and company profile, besides, market price analysis, and value chain features are covered in this report.

Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products etc.):

  • AB-Cube
  • AssurX
  • Intel
  • Laerdal Medical
  • MDI Consultants
  • Numerix
  • Omnify Software
  • Oracle Corporation
  • Qserve
  • QVigilance
  • Sarjen Systems Pvt. Ltd.
  • Sparta Systems  
  • Xybion Corporation
  • ZEINCRO

Delivery Mode Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • On-premise
  • On-cloud

Application Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Diagnostic Application
  • Research Application
  • Surgical Application
  • Therapeutic Application
  • Others

End-User Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Business Process Outsourcing
  • Contract Research Organization
  • Original Equipment Manufacturers
  • Others

Region Coverage (Regional Consumption, Demand & Forecast by Countries, etc.):

  • North America (U.S., and Canada)
  • Europe (Germany, U.K., France, Italy, Spain, etc.)
  • Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
  • South America (Brazil, Mexico, Argentina, etc.)
  • Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa, etc.)

Frequently Asked Questions

The global Materiovigilance Market size is estimated at USD 90,504.1 Million in 2020, expanding at a CAGR of 8.2% from 2021-2027 to reach 118,003.3 Million USD in 2027
North America captured the highest revenue in 2021 and is projected to continue its dominance during the study period.
The global Materiovigilance Market size is expanding at a CAGR of 8.2% from 2021-2027 to reach 118,003.3 Million USD in 2027.
Asia Pacific (especially China, and India) region is projected to grow at the fastest growth rate during the study period.
Major companies in the industry participate in strategic acquisitions and mergers, alliances, and new product releases to stay competitive in the market. Veeva Systems Inc., for example, has released a new version of Veeva Vault Product Surveillance around April 2020. The firm is the market leader in cloud-based software. The software has been released for use in diagnosis and medical equipment.

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