Medical Device Complaint Management Market Size is Projected to Reach USD 12.4 Billion by 2030, Growing at a CAGR of 7.5%: Zion Market Research

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NEW YORK, United States, May 11, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Medical Device Complaint Management Market By Service Type (Complaints Log/Intake, Product Surveillance & Regulatory Compliance, Returned/ Non-Returned Product Analysis, And Resolve & Closure), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Medical Device Complaint Management Market size & share was valued at USD 6.9 billion in 2022 and it is expected to surpass around USD 12.4 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 7.5% during the forecast period 2023 to 2030.”

The report analyzes the global medical device complaint management market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the medical device complaint management industry.

What is Medical Device Complaint Management? How big is the Medical Device Complaint Management Industry?

Report Overview:

The management of medical device complaints is an essential step in ensuring the security and efficiency of medical equipment. It entails gathering, looking into, and resolving complaints obtained from clients, medical professionals, and other sources. In order to protect patients and raise product quality, it is important to quickly detect and fix any problems with medical devices. The complaint management procedure involves a number of processes, including the intake, documentation, assessment, investigation, and resolution of complaints.

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In order to assure compliance, these stages are often controlled by a structured system that incorporates standard operating procedures. Effective medical device complaint management is crucial for upholding patient safety, complying with regulations, and enhancing the caliber of medical devices through programs for continuous development. Medical equipment makers can improve customer satisfaction by quickly and effectively handling concerns.

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• Includes Tables and figures have been updated
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• Zion Market Research Methodology

Global Medical Device Complaint Management Market Market Dynamics:

Growing regulatory scrutiny and the need to maintain patient safety are the driving forces behind the worldwide medical device complaint management industry. Market expansion is also being fueled by the rising demand for quality management systems and the need to adhere to regulatory regulations. Additionally, the demand for complaint management systems is growing as a result of an increase in unfavorable incidents and product recalls. Adoption of cutting-edge technologies like artificial intelligence and machine learning to enhance the complaint management procedure is one opportunity in the medical device complaint management sector.

Another opportunity for development is the emergence of cloud-based complaint management tools. The medical device complaint management market, however, is constrained by factors including the high cost of adopting complaint management systems and the absence of standardization in complaint management procedures across various industries.

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Report Scope:

Medical Device Complaint Management Market: Segmentation Overview

The global medical device complaint management market is segmented based on service type and region.

Based on service type, the global medical device complaint management industry is segmented into complaints log/intake, product surveillance & regulatory compliance, returned/ non-returned product analysis, and resolve & closure. The product surveillance & regulatory compliance segment is predicted to dominate the global market during the forecast period.

This is a result of the need for manufacturers to abide by regulatory requirements and the growing regulatory scrutiny of medical devices. The portion includes the observing and announcing of unfavorable occasions, including item imperfections and disappointments, to administrative organizations. The reception of trend setting innovations, for example, computer-based intelligence and AI, is supposed to additional drive the development of this section by working on the effectiveness and precision of item observation and revealing.

The global medical device complaint management market is segmented as follows:

By Service Type

• Complaints Log/Intake
• Product Surveillance & Regulatory Compliance
• Returned/ Non-returned Product Analysis
• Resolve & Closure

Browse this Full Research Report | Medical Device Complaint Management Market By Service Type (Complaints Log/Intake, Product Surveillance & Regulatory Compliance, Returned/ Non-Returned Product Analysis, And Resolve & Closure), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030

Competitive Landscape:

Some of the main competitors dominating the global medical device complaint management market include – 

Freyr | Tata Consultancy Services Limited. | Biovia | IQVIA | Wipro | AssurX | Sparta Systems | SAS | Parexel International Corporation | Master Control | HCL Technologies Limited | UserWise, Inc. | Cognizant | Interneer, Inc. | Oracle | Zendesk | Thryv Inc | BizzMine | PTC | Orcanos | ArisGlobal LLC | AmpleLogic

 Key Insights from Primary Research:

• According to the analysis shared by our research analyst, the Medical Device Complaint Management market is likely to expand at a CAGR of around 7.5% during the forecast period (2023-2030).
• In terms of revenue, the Medical Device Complaint Management market size was valued at around US$ 6.9 billion in 2022 and is projected to reach US$ 12.4 billion by 2030.
• The growing number of product recalls of medical devices is expected to drive market growth over the forecast period.
• Based on the service type, product surveillance & regulatory compliance are expected to dominate the market over the forecast period.
• Based on region, North America is expected to dominate the market during the forecast period.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Medical Device Complaint Management industry?
• What are the main driving factors propelling the Medical Device Complaint Management Market forward?
• What are the leading companies in the Medical Device Complaint Management Industry?
• What segments does the Medical Device Complaint Management Market cover?
• How can I receive a free copy of the Medical Device Complaint Management Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Service Type, and Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Overview:

The North American region held the largest medical device complaint management market share in 2022 and is further projected to grow rapidly during the forecast period. This is because of the region’s increasing emphasis on patient safety and stringent regulatory requirements. Due to its robust regulatory framework, the United States of America is the world’s largest market for medical devices and requires the use of complaint management systems.

In addition, the rising number of antagonistic occasions and item reviews in the locale is driving the interest in grumbling administration arrangements. The reception of cutting-edge innovations, for example, man-made intelligence and AI, is likewise expected to drive the development of the market in the area. Furthermore, the presence of significant market players and the developing number of joint efforts and associations in the district are supposed to add to the development of the market.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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Recent Developments:

• In October 2021, Oracle announced the launch of Oracle Health Sciences Complaints Management Cloud Service. The service is designed to help medical device manufacturers manage complaints and comply with regulatory requirements. It includes features such as workflow management, automated case management, and regulatory reporting capabilities.
• In September 2021, MasterControl announced the launch of its Complaints Management Solution. The solution is designed to help medical device manufacturers streamline their complaint management process, from intake to investigation and resolution. It includes features such as automated workflows, integrated risk management, and advanced reporting capabilities.

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