Discover trends, market shifts, and competitive outlooks for the medical devices vigilance industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

What Are the Projected Market Size and Growth Rates for the Medical Devices Vigilance Market From 2025 To 2029?

The vigilance market for medical devices has shown robust growth in recent times. There’s an expected increase in the market from $90.26 billion in 2024 to $97.94 billion in 2025, with an 8.5% compound annual growth rate (CAGR). Factors contributing to this historical growth include heightened awareness about vigilance in medical devices, enhanced understanding of the advantages by both physicians and patients, mounting pressure on the manufacturers of these devices, a rise in government initiatives and an increase in the usage of medical devices.

In the ensuing years, the medical devices vigilance market is projected to experience substantial growth. It is expected to expand to $137.61 billion by 2029, with a compound annual growth rate (CAGR) of 8.9%. The anticipated growth over this period can be linked to an upsurge in the implementation of recall systems for medical devices, an increase in post-market surveillance initiatives for these devices, a growing number of reported adverse events, a rising demand for therapeutics and surgical procedures, and increasing complexity related to patient safety rules. Notable trends predicted during this period include technological advancements, the framework of the International Medical Device Regulators Forum (IMDRF), improved cross-border safety information exchange, the use of remote patient monitoring devices, as well as 3D printing and personalized devices.

Download a free sample to assess the report’s scope and structure:

https://www.thebusinessresearchcompany.com/sample.aspx?id=14137&type=smp

Which Factors and External Forces Are Driving Demand in the Medical Devices Vigilance Market?

The surge in medical recalls is anticipated to fuel the medical device vigilance market’s expansion in the future. These recalls are actions initiated by either regulatory bodies, manufacturers, or distributors to edit or withdraw medical products that either pose a threat to public health or fail to meet regulatory standards. Medical device vigilance involves the continual scrutiny of medical products on the market to detect any adverse incidents, dysfunction, or safety hazards, which are subsequently reported to regulatory bodies. This could lead to additional examination, and if necessary, an immediate recall of the product. For example, The Food and Drug Administration (FDA), an essential US federal agency, noted an upsurge in medical device recalls in December 2022. It documented 442 recalls in 2022, a rise from 331 in 2021, which is a nearly 10% increase from 2021. As a consequence, the rise in medical recalls is propelling the medical device vigilance market’s growth.

Which Segments in the Medical Devices Vigilance Offer the Most Growth?

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

Subsegments:

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

Request customized data on this market:

https://www.thebusinessresearchcompany.com/customise?id=14137&type=smp

What Are the Fastest-Growing Geographies in the Medical Devices Vigilance Market?

North America was the largest region in the medical devices vigilance market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical devices vigilance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Which Cutting-Edge Market Trends Are Expected to Drive theMedical Devices Vigilance Market’s Growth?

Leading firms in the medical device vigilance market are innovating by creating products like quality management software to enhance customer satisfaction. This type of software system formalizes and documents the processes, protocols, and responsibilities involved in meeting quality objectives. For instance, Greenlight Guru, a company based in the U.S. that caters to medical device firms, unveiled their latest quality management software in December 2022. This new system aims to aid medical device businesses in updating their processes, reducing clinical testing time, and expedite introducing safer products into the market. The software by Greenlight Guru is pre-validated following FDA and ISO recommended practices, with the goal of helping organizations adhere to evolving standards. In addition to the software, the company offers training and certifications that could boost careers in areas such as product development, quality, and regulatory assurance.

View the full report here:

https://www.thebusinessresearchcompany.com/report/medical-devices-vigilance-global-market-report

What Are the Key Elements That Define the Medical Devices Vigilance Market?

Medical device vigilance refers to monitoring and reporting adverse events or incidents related to the use of medical devices. It is a critical component of post-market surveillance to ensure the safety and effectiveness of medical devices throughout their lifecycle. It identifies and addresses potential risks associated with medical devices, ensures patient safety, and maintains public trust in the healthcare system.

Purchase the full report and get a swift delivery:

https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=14137

About The Business Research Company:

With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.

Get in touch with us:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293

Asia +44 2071930708

Europe +44 2071930708

Email us at info@tbrc.info

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model