The medical device clinical trial terminations and suspensions in Q3 2022 saw a 69% decrease in the number of trials globally when compared with the last four – quarters average, according to GlobalData’s medical devices database.
The global medical devices market was worth $540.69bn in 2021 and is expected to reach $523.13bn by 2023, according to GlobalData’s analysis.
Medical devices clinical trials by market: Anesthesia and Respiratory Devices has the most terminations and suspensions
Looking at the clinical trial terminations and suspensions by the type of markets, Anesthesia and Respiratory Devices accounted for the largest proportion (11%) in Q3 2022, followed by Cardiovascular Devices (10%) and Patient Monitoring (10%).
Of the global medical devices market value, the Anesthesia and Respiratory Devices market held a 2% share worth $10.50bn in 2021 and is expected to reach $12.58bn by 2023.
North America tops terminated and suspended trials activity
Comparing medical device clinical trial terminations and suspensions in different regions of the globe, North America held the top position with a 62% share during Q3 2022, followed by Europe with 28%, and Asia-Pacific with 8%.
On a country level, The US had the largest share (58%) of the global clinical trial terminations and suspensions during the quarter. In second place was Germany with a share of 14%, followed by United Kingdom with 7%.
Looking at the share of activity of sponsored clinical trials in terms of terminations and suspensions, company-sponsored trials accounted for a 49% share, while institute-sponsored trials held the remaining share.
The quarterly average for the last four quarters saw company-sponsored trials account for 44% of terminations and suspensions, while institute-sponsored trials account for 56%.
The clinical trials data used for the analysis were extracted from the medical Clinical Trials Database of GlobalData’s Medical Intelligence Center. Medical device clinical trials database covers all clinical trials conducted on medical devices, combination devices, diagnostics, and diagnostic imaging agents covering 16 markets (as per medical device taxonomy). GlobalData tracks clinical trials from six key registries: NCT , UMIN, ACTRN, ChiCTR, EudraCT, and ISRCT. It also monitors universities, company websites, press releases, investor presentations and annual reports to track medical device clinical trials. Industry refers to commercial entities such as private and public companies and their subsidiaries. Non-Industry refers to non-profit making entities including hospitals, universities, government research institutions and non-government research institutions. The information is collected by following systematic research techniques and proprietary methodology. Only terminated, suspended and withdrawn clinical trials are considered for this analysis.