UK medical device technology market is projected to grow at a significant CAGR of around 2.8% during the forecast period (2020-2026). Before Brexit, UK followed the rules and regulations for medical devices, as imposed by the European Union. However, post Brexit, the country has announced new rules and regulations regarding the medical devices. These new regulations are expectedly to offer growth to the market in the country, as now the manufacturers do not have to comply the EU-based long hailing norms. The UK Medicines and Healthcare products Regulatory Agency (MHRA) has posted new regulations regarding medical devices placed on the market in Great Britain (and Northern Ireland and European Union (EU)) starting January 01, 2021.
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From January 01, 2021, the roles and responsibilities of companies engaged in the manufacturing and supplying medical devices, including IVDs, will slightly change. Manufacturers that are planning to place a device on the Great Britain will first need to register with the MHRA. The Government of UK will continue to accept CE marked devices on the Great Britain market until June 30, 2023. Manufacturers will need to comply with relevant product marking and conformity assessment requirements for medical devices, including IVDs. As of January 01, 2021, medical devices placed on the Great Britain market will need to have either a UKCA mark or a CE marking, depending on which legislation the device has been certified.
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Market Coverage
- Market number available for- 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segments Covered- By Product Type
- Countries Covered- US and Canada
- Key Companies Profiled- Thermo Fisher Scientific Inc., General Electric Co., Abbott Laboratories, Johnson & Johnson Services Inc., Smith & Nephew plc, and Koninklijke Philips N.V.
Key questions addressed by the report
- What is the market growth rate during the forecast period?
- Which segment/region dominates the market in base year?
- Which segment/region will project fastest growth in the market during the forecast period?
- How COVID-19 will impact the market growth in 2020 and coming years?
- Recovery Timeline
- Deviation from pre-COVID
- Most affected region/segment
- Recommendations
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
UK Medical Device Technology Market – Segmentation
By Product Type
- In Vitro Diagnostics Devices
- Diagnostic Imaging Devices
- Cardiology Devices
- Ophthalmology Devices
- Orthopedic Devices
- Others (Endoscopy Devices and Respiratory Care Devices)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
