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LONDON, GREATER LONDON, UNITED KINGDOM, June 5, 2025 /EINPresswire.com/ -- The Business Research Company’s Latest Report Explores Market Driver, Trends, Regional Insights - Market Sizing & Forecasts Through 2034
The medical devices vigilance market has been experiencing remarkable growth in recent times, dynamically evolving from a market size of $90.26 billion in 2024 to a projected value of $97.94 billion in 2025. This development demonstrates a compound annual growth rate CAGR of 8.5%. The growth has been propelled largely by a rising awareness of medical device vigilance among both physicians and patients, mounting demand on medical device manufacturers, increasing government initiatives, and a surge in medical device usage.
Projected Future Growth Of The Medical Devices Vigilance Market: What Does The Data Indicate?
The medical devices vigilance market size is anticipated to witness robust growth in forthcoming years, driven by a variety of contributing factors. The market is projected to soar to $137.61 billion in 2029, accounting for a compound annual growth rate CAGR of 8.9%. The escalation in the forecast period can be accounted for by impactful developments such as the increasing number of adaptive recall systems for medical devices and post-market surveillance programs, elevating number of reported adverse events, an intensifying necessity for therapeutics and surgical procedures, and burgeoning complexities in regards to patient safety regulations.
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What Is Propelling The Growth Of The Medical Devices Vigilance Market?
A significant growth driver of the medical devices vigilance market is an escalating number of medical recalls. These recalls symbolize the action taken by regulatory authorities, manufacturers, or distributors to rectify or remove medical products that pose a threat to public health or fail to comply with regulatory standards. Medical device vigilance reflects the continuous monitoring of medical devices in the market to identify adverse events, malfunctions, or safety concerns that, when spotted, are reported to regulatory authorities. This may potentially lead to further investigation, and if justified, a product recall.
Who Are The Major Players In The Medical Devices Vigilance Market?
Key corporations operating in the medical devices vigilance market include 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.
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What Are The Emerging Trends In The Medical Devices Vigilance Market?
Emerging trends in the medical devices vigilance market are highlighted by the innovative developments by these industries, such as the introduction of quality management software QMS. This system documents processes, procedures, and responsibilities necessary for achieving quality policies and objectives, enhancing customer satisfaction.
How Is The Medical Devices Vigilance Market Segmented?
The report segments the medical devices vigilance market as:
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
Furthermore, it breaks down:
1 By On-Demand: Cloud-Based Solutions, Subscription Services, Remote Monitoring And Reporting
2 By On-Premise: In-House Software Solutions, Local Server Deployments, Customized System Implementations
What Are The Regional Insights In The Medical Devices Vigilance Market?
In terms of regional market share, North America was the predominant region for the medical devices vigilance market in 2024. However, projections for the fastest-growing region point towards Asia-Pacific. The medical devices vigilance market report covers a diverse set of regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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