The number of medical devices gaining approval in the US in November 2021 saw a 14% increase when compared with October 2021, according to GlobalData’s marketed products database.
The US medical devices market was worth $154.01bn in 2020 and is expected to reach $182.95bn by 2023, according to GlobalData’s analysis.
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Hospital Supplies led newly approved devices in November 2021
Looking at the device sectors, Hospital Supplies held the largest share of 23% in gaining US approval during November 2021, followed by General Surgery with 15% and Diagnostic Imaging with 12%.
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As for the US medical devices market value, the Hospital Supplies market held a 17% share worth $26bn in 2020 and is expected to reach $21.94bn by 2023.
510(k) approved medical devices dominate the US market
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By GlobalDataIn November 2021, the number of new medical devices entering the US market saw a 14% increase when compared with October 2021.
GlobalData’s database indicated that 510(k) approved medical devices entering the US market, accounted for 94% of new medical devices in November 2021, compared with 82% in the previous month.
CLIA declined by 75% in November 2021, as against 12% in October 2021. CLIA have become more common during the COVID-19 pandemic, as a speedy mechanism to bring therapeutic devices to market more quickly than the usual device approval process.
Class II devices dominated the US marketing activity for new medical devices in November 2021
During November 2021, Class II medical devices entering the market accounted for 90% of new medical devices approved in November 2021, compared with 89% in October 2021. Class I devices a flat growth from 10% of new device approvals in October 2021 to 9% in November 2021.
Hospital Supplies constituted the largest group of Class II devices, accounting for 17% of devices. Anesthesia and Respiratory Devices and Neurology Devices each held a 50% share of Class III devices. Class III devices are devices that generally pose the most risk to patients and includes implantable devices. Class I devices are of a lesser risk.
Company-developed devices lead US regulatory approvals during November 2021
Looking at the share of activity among medical device organisations, GlobalData’s database indicated that company-developed devices accounted for a 99% share of newly approved devices in the US during November 2021, while institute-developed marketed products held the remaining share.
In comparison, October 2021 saw a split of 99% in newly approved devices originating from private and public companies and 1% from institutes.
Methodology
The medical devices approval data used in this article were extracted from Medical Marketed Products Database of GlobalData’s Medical Intelligence Center. Marketed Products database covers all commercialized medical devices which are intended for diagnosis, treatment, and management of diseases/conditions/symptoms directly or indirectly. Marketed products are covered from regulatory bodies like US FDA, company websites, news releases, SEC filings etc. The information is collected by following systematic research techniques and proprietary methodology.
