The global medical automation market is expected to reach USD 55.03 Billion, at CAGR of 9.5%.
The market demands significant investments in R&D, in order to constantly come up with new innovative products and technologies. Through the development of innovative products, the players in the medical automation market compete against each other in order to enhance their market share.
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Medical Automation Market
Global Medical Automation Market, by End User
- Hospitals & Diagnostic Centers
- Research Laboratories & Institutes
- Pharmacies
- Home/Ambulatory Care Settings & Others
The therapeutic automation market segment holds the largest share in the global medical automation market. This segment is further categorized on the basis of product into non-surgical automation (defibrillators and automated medication systems) and surgical automation (surgical robots, intraoperative imaging, surgical navigation, intelligent operating rooms, and surgical simulators). In 2015, the non-surgical automation segment held a larger share of 72.9% of the global therapeutic automation market.
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A number of factors such as continuous advancements in various medical automation technologies; increasing government financial support for medical automation; and growing adoption of automation in laboratory, pharmacy, and medical logistics operations are propelling the growth of the global medical automation market. However, high cost of automation and stringency of regulatory procedures leading to delayed product launches are the key factors restraining the growth of this market.
Geographical Analysis:
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; the 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.
Major key players operating in the global medical automation market;
Koninklijke Philips N.V. (Netherlands), Siemens AG (Germany), General Electric Company (U.S.), Intuitive Surgical, Inc. (U.S.), Medtronic plc (U.S.), Tecan Group Ltd. (Switzerland), Stryker Corporation (U.S.), Accuray Incorporated (U.S.), Danaher Corporation (U.S.), and Swisslog Holding AG (Switzerland)
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