Rising Focus on Patient Safety and Regulatory Compliance Driving Growth in Medical Device Complaint Management Market

PRESS RELEASE
Published April 20, 2023

The medical device complaint management market is experiencing significant growth due to the increasing focus on patient safety and regulatory compliance. As medical devices become more complex and the regulations governing them become more stringent, it has become essential for manufacturers to have effective complaint management systems in place to ensure the safety and satisfaction of their customers. The global medical device complaint management market is expected to grow at a CAGR of 6.3% from 2021 to 2026. The report notes that the increasing focus on quality management and the growing adoption of automated complaint management systems are driving the growth of the market.

One of the key factors driving the growth of the medical device complaint management market is the increasing emphasis on patient safety. In recent years, there has been a growing awareness of the potential risks associated with medical devices, and patients are increasingly demanding higher levels of safety and quality. This has led to a greater focus on complaint management among medical device manufacturers, who are now investing in advanced complaint handling systems to ensure that they are able to identify and address issues before they become major problems.

Another key driver of the medical device complaint management market is the growing regulatory scrutiny of medical devices. Regulatory bodies around the world are imposing stricter regulations on medical devices, and manufacturers are under increasing pressure to ensure that their devices meet these standards. Effective complaint management is a critical aspect of regulatory compliance, and manufacturers are investing in complaint handling systems to ensure that they are able to meet these requirements.

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Overall, the rising focus on patient safety and regulatory compliance is driving the growth of the medical device complaint management market, and this trend is expected to continue in the coming years as the demand for safe and effective medical devices continues to grow.

Key findings of the Medical Device Complaint Management market study:

  • The report provides a present market outlook on Medical Device Complaint Management. Additionally, the Medical Device Complaint Management market share is anticipated to grow with a CAGR of 7% in the forecast period.
  • Regional breakdown of the Medical Device Complaint Management market based on predefined taxonomy.
  • Innovative manufacturing processes implemented by Medical Device Complaint Management vendors in detail.
  • Region-wise and country-wise fragmentation of the Medical Device Complaint Management market to grasp the revenue, and growth outlook in these areas.
  • Changing preferences among consumers across various regions and countries.
  • Factors (Positive and Negative) impacting the growth of the global Medical Device Complaint Management market.
  • Medical Device Complaint Management price, market share, and Trends forecast for assessment period 2022-2032

How is the US Propelling Growth of Medical Device Complaint Management?

The US is propelling the growth of medical device complaint management through various initiatives and regulations. Firstly, the US Food and Drug Administration (FDA) has issued guidelines on medical device complaint management, requiring manufacturers to establish and maintain procedures for receiving, reviewing, and evaluating complaints. These guidelines aim to ensure that medical device manufacturers have effective systems in place to identify, track, and address device-related issues. Secondly, the FDA has established the Manufacturer and User Facility Device Experience (MAUDE) database, which is a repository of reports submitted by manufacturers, importers, and device user facilities concerning adverse events involving medical devices. The MAUDE database allows for the tracking of complaints and incidents related to medical devices, enabling manufacturers to identify and address issues quickly.

Thirdly, the FDA has also implemented the Unique Device Identification (UDI) system, which requires medical device manufacturers to assign a unique identifier to each device they produce. This system enables better tracking and tracing of medical devices, including those that are the subject of complaints. Moreover, the US healthcare system’s increasing focus on patient safety and quality outcomes has also contributed to the growth of medical device complaint management. Healthcare providers are increasingly focused on ensuring that medical devices are safe and effective, which requires manufacturers to have effective complaint management systems in place.

Finally, technological advancements in medical device complaint management have also played a role in driving growth. Digital tools and software can streamline the complaint management process, allowing for more efficient tracking and resolution of device-related issues.

Competitive landscape analysis

Product innovation and strategic mergers and acquisitions influence the competitive landscape of the medical device complaint management industry. To capitalise on attractive opportunities in developing nations, frontrunners are emphasising capacity increases and global footprint development.

  • IQVIA announced the launch of a new Grants and Funding Management module within its Orchestrated Customer Engagement (OCE) solutions portfolio in November 2021. This initiative is designed to provide a solution for the life sciences sector to easily administer and control their global strategic giving programmes.

Some of the leading companies operating in the market are :

  • IQVIA
  • Parexel
  • SAS Institute
  • Wipro Limited
  • Tata Consultancy Services
  • Sparta Systems Inc.
  • Freyr Solutions
  • BIOVIA
  • AssurX
  • MasterControl Inc.

 What insights does the Medical Device Complaint Management report provide to the readers?

  • Medical Device Complaint Management fragmentation on the basis of product type, end use, and region.
  • Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape.
  • Collaborations, R&D projects, acquisitions, and product launches of each Medical Device Complaint Management
  • Various regulations imposed by the governments on the consumption of Medical Device Complaint Management in detail.

Key Segments Covered in Medical Device Complaint Management Industry Research

  • By Service Type
    • Medical Device Complaints Log / Intake
      • Receive Complaints
      • Classify the Issue
      • Record Issue
    • Medical Device Product Surveillance & Regulatory Compliance
      • Reportable/Non-reportable
      • Medical Device Vigilance/Medical Device Reporting
      • Field Action
    • Returned/ Non-returned Medical Device Product Analysis
      • Complaint Investigation
      • Root Cause Analysis, Testing
      • Corrective/Preventive Action
    • Medical Device Complaints Resolve & Closure
      • Complaint Summary
      • Customer Letter Creation

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This Press Release has been written with the intention of providing accurate market information which will enable our readers to make informed strategic investment decisions. If you notice any problem with this content, please feel free to reach us on mediarelations@xherald.com.

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