Global Medical Automation Market is expected to reach US$ 140Bn by 2026 from US$ 58Bn in 2017 at CAGR of 11.6%.
Global medical automation market segmented by application, end user and region. Based on applications, the global medical automation market is segregated into diagnostic and monitoring automation, lab and pharmacy automation, therapeutic automation and medical logistics and training. End user are classified into research laboratories & institutes, home & ambulatory care, hospitals & diagnostic centres, and pharmacies. Region-wise divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
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Global Medical Automation Market
Various technological advancements managed to the automation of the medical sector which enabled the controlled use of medical systems and related technologies. This reduced the necessity for human work in the production of goods and services. The growing prevalence of chronic diseases like cancer, diabetes, and others along with the growing pharmaceutical & biotechnology sector are the major drivers for the market growth during the forecast period. Medical institutions are channelling more funds into global medical automation systems and software enticed by benefits such as cost containment, increased speed, greater transparency in processing, and reduction in errors. The top trends that are shaping the global medical automation market are affordable automation software and systems that make daily tasks easier.
Based on the application, therapeutic automation segment is estimated to hold the largest share of the global medical automation market in 2017. The increasing application of automated devices (such that 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.
On the basis of an end user, hospitals and diagnostic centres dominating the medical automation market. Diagnostics represents one of the most lucrative markets in the domain. Moreover, the market has developed strongly in enhancing disease prevalence and rising consumer awareness. Inflows into sectors such as hospitals & diagnostic centres and medical appliances stood at US$4.1 billion and US$1.45 billion, respectively, during the forecast period.
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In terms of region, North America accounts for the largest share of the medical automation market followed by Europe. The dominance of these regions in this market is seen due to increasing government investments and funding. Additional, collaboration among the key players and increased investments by the venture capitalists are some of the reasons which have augmented the demand for medical automation in North America and the European region. In the U.S market medical automation in therapy segment accounts for the major share of the market followed by diagnostics & monitoring and logistics & training. Asia-Pacific region is expected to show healthy growth in the upcoming future majorly in India, China, Taiwan and Japan. The reason behind an expansion would be a rapid decline in the number of rural labour, the rise in government investments towards automation and economic developments.
Key players operating on the global medical automation market are, Medtronic Inc., DePuy Synthes (Johnson & Johnson), Koninklijke Philips N.V., Ge Healthcare, Siemens Healthineers, Cardinal Health Inc, Stryker Corporation, Becton, Dickinson and Company, Baxter, Danaher Corporation, Stanley Black and Decker Inc., Intuitive Surgical, Swisslog Holding AG, Tecan Group Ltd., iCad INC, Given Imaging Ltd., Brainlab AG, Accuray Incorporated, Clearcount Medical Solutions, eScreen, Quiqmeds and Acrobot Company.
Scope of the Global Medical Automation Market Report
Global Medical Automation Market, by Application
• Diagnostic and monitoring automation
• Lab and pharmacy automation
• Therapeutic automation
• Medical logistics and training
Global Medical Automation Market, by End user
• Research laboratories & institutes
• Home & ambulatory care
• Hospitals & diagnostic centres
Global Medical Automation Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• Latin America
Key players operating in Global Medical Automation Market:
• Medtronic Inc.
• DePuy Synthes (Johnson & Johnson)
• Koninklijke Philips N.V.
• Ge Healthcare
• Siemens Healthineers
• Cardinal Health Inc.
• Stryker Corporation Becton
• Dickinson and Company
• Danaher Corporation
• Stanley Black and Decker Inc.
• Intuitive Surgical
• Swisslog Holding AG
• Tecan Group Ltd.
• iCad INC
• Given Imaging Ltd.
• Brainlab AG
• Accuray Incorporated
• Clearcount Medical Solutions
• Acrobot Company.