The report studies the global Medical Automation Market over the forecast period from 2015 to 2020. The market is expected to reach USD 55.03 Billion by 2020, at CAGR of 9.5% from 2015 to 2020.
According to the new market research report “Medical Automation Market by Application (Diagnostics & Monitoring, Therapeutics, Lab & Pharmacy Automation, Medical Logistics & Training), End-User (Hospital, Diagnostic Center, Research Institute, Home/Ambulatory Care) — Global Forecast to 2020”, published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).
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On the basis of application, the medical automation market is divided into four major segments, namely, diagnostic and monitoring automation (automated imaging, automated image analysis, and point-of-care testing), therapeutic automation (non-surgical automation and surgical automation), laboratory and pharmacy automation (laboratory automation and pharmacy automation), and medical logistics and training (logistics automation and trainers). The therapeutic automation segment is estimated to hold the largest share of the global medical automation market in 2015. Increasing application of automated devices (such as defibrillators, surgical robots, surgical navigation systems, and automated medication systems) in therapeutics and rising incidences of various chronic diseases are driving the growth of this market segment.
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On the basis of end users, the global medical automation market is divided into four segments, namely, hospitals and diagnostic centers, pharmacies, research laboratories and institutes, and home/ambulatory care settings and other end users.
A number of factors such as rising government support for medical automation, growing need for reproducibility and accuracy during medical procedures, investments by venture capitalists and collaborations to promote automated medical devices, and technological advancements are fueling the demand for automation in the healthcare industry. Additionally, increasing use of automation in various research activities, rising cost of labor, and rising number of research studies in emerging nations are some other factors contributing to the growth of the medical automation market. On the other hand, stringency of regulatory procedures leading to delay in product launches and high cost of automated solutions are the key factors hampering the growth of the global medical automation market.
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North America is estimated to hold the largest share of the global medical automation market, followed by Europe. However, the Asia-Pacific market is expected to grow at the highest CAGR of 11.6% from 2015 to 2020. Presence of a large geriatric population; increasing prevalence of CVDs, diabetes, and cancer; rising number of clinical research activities; and growing government expenditure on healthcare and life sciences research are propelling the growth of the Asia-Pacific medical automation market.
Koninklijke Philips N.V. (Netherlands), Siemens AG, (Germany), General Electric Company (U.S.), Medtronic plc. (U.S.), Tecan Group Ltd. (Switzerland), Intuitive Surgical, Inc. (U.S.), Stryker Corporation (U.S.), Accuray Incorporated (U.S.), Danaher Corporation (U.S.), and Swisslog Holding AG (Switzerland) are some of the key players operating in the global medical automation market.
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