The Materiovigilance Market is projected to reach a valuation of USD 143.14 bn by 2031 at a CAGR of 8.00%, from USD 66.3 bn in 2021.
Materiovigilance is the practice of monitoring the safety of materials used in products and processes. It is a key element of product safety and quality assurance. Materiovigilance programs aim to identify, assess and control risks associated with materials used in products and processes. They are an important part of a company’s risk management strategy and can help to improve product safety and quality while reducing costs.
Medical device vigilance’s goal is to protect patients and health institutions using medical equipment. It also aims to prevent or lower the likelihood of dangerous occurrences and other unpleasant effects. Materialovigilance is the monitoring of potential harmful effects and technical problems related to medical equipment. Materiovigilance covers adverse reactions, postmarket surveillance and events as well as medical device shortages. Negative reactions to medical equipment may occur, and can have serious consequences.
Over the forecast period, the global materiovigilance industry is expected to grow due to an increase in medical device recalls because of technical defects. The global materiovigilance industry is expected to grow during the forecast period due to an increase in post-market surveillance programs.
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Global Materiovigilance Market: Restraint
The main factors that are hindering growth in the global materiovigilance industry include increased safety regulations, and a lack of skilled professionals from emerging and underdeveloped economies. According to the Organization for Economic Cooperation and Development (OECD), around half of Latin American formal businesses did not find the workers they needed in Latin America in 2016, compared with 36% in OECD countries.
This research report on the global Materiovigilance market includes major company profiles such as
AssurX
Sparta Systems
Oracle Corporation
Xybion Corporation
Sarjen Systems Pvt. Ltd.
MDI Consultants
AB-Cube
Q Vigilance
Qserve
ZEINCRO, among others.
Market Segmentation:
Based on Delivery Mode
On-Premise
On-Cloud
Based on Application
Diagnostic Application
Therapeutic Application
Surgical Application
Research Application
Other Applications
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Based on End-User
Contract Research Organization
Business Process Outsourcing
Original Equipment Manufacturers
Other End-Users
Based on Region
North America
Europe
Asia-Pacifica
South America
Middle East & Africa
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