The number of clinical trials completed for medical devices in the second quarter of 2022 saw a 75% decrease in the number of trials worldwide, compared to the average of the last four quarters, according to the Medical Devices Database. from GlobalData.
The global medical device market was worth $540.69 billion in 2021 and is expected to reach $523.13 billion by 2023, according to analysis by GlobalData.
Clinical trials completed by market: health informatics has the most studies
Looking at completed studies by market type, ophthalmic devices accounted for the largest proportion (13%) in Q2 2022, followed by health IT (12%) and cardiovascular devices (11%).
Out of the global market value of medical devices, the ophthalmic devices market held a share of 13%, worth $6 billion in 2021 and is expected to reach $6.96 billion by 2023.
North America Leads Completed Trials Activity
Comparing the number of clinical trials completed for medical devices in different regions of the world, North America ranked first with a 46% share in Q2 2022, followed by Europe with 42% and Asia-Pacific with 7%.
Nationally, the United States had the largest share (38%) of global clinical trials completed during the quarter. France comes second with a share of 9%, followed by Germany with 8%.
Regarding the share of activity in terms of sponsorship of completed clinical trials, company-sponsored trials accounted for 57% of the global medical device market, while institute-sponsored trials held the remaining share.
The quarterly average for the past four quarters has seen corporate-sponsored trials account for 55% of completed trials and institute-sponsored trials for 45%.
The clinical trial data used for the analysis was extracted from GlobalData’s Medical Intelligence Center Medical Clinical Trials Database. The Medical Devices Clinical Trials Database covers all clinical trials conducted on medical devices, combination devices, diagnostics and diagnostic imaging agents spanning 16 markets (according to medical device taxonomy). GlobalData tracks clinical trials from six key registries: NCT, UMIN, ACTRN, ChiCTR, EudraCT and ISRCT. He also monitors universities, company websites, press releases, investor presentations and annual reports to track medical device clinical trials. Industry refers to business entities such as private and public companies and their subsidiaries. Non-industry refers to non-profit entities, including hospitals, universities, government research institutes, and non-government research institutes. The information is collected by following systematic research techniques and proprietary methodology. Only completed clinical trials are considered for this analysis