Medical Automation Market to Gain From Rising Adoption Rate of Equipment: Million Insights

FELTON, California, October 9, 2017 /PRNewswire/ --

The global medical automation market size in 2015 was estimated to be at USD 34.21 billion. The major factors impelling the growth are rising adoption rate of automated equipment for therapy and diagnosis of chronic disorders. According to a report by WHO, chronic diseases are considered to be the leading cause of mortality globally. These diseases include respiratory diseases, diabetes, heart disease, stroke and cancer which accounts for around 60% of deaths.

As per a research published by NCBI, around 40.5% of the population in U.S. is predicted to suffer from one or more than one cardiovascular disease by 2030, leading to expansion of the patient base. Increasing adoption of automated devices can be attributed to the rising demands for reproducibility and accuracy in wide array of medical procedures.

The largest share of over 35.0% in application segment was held by therapeutic automation in 2015. The dominance can be attributed to consistent rise in the adoption rate of automated devices such as therapeutic dispensing systems, defibrillators, surgical robots, automated microscopes, portable imaging device and orthopedic navigation systems.

The high demand for automation while performing minimally invasive surgeries is expected to widen the scope for adoption of robotic surgical systems thereby fueling to the medical automation industry over the coming years.

The segment was dominated by hospitals & diagnostics centers segment in 2015 with a share of more than 25.0%. The dominance can be attributed to growing usage of automated devices in pharmacies & laboratories sufficing various requirements in diagnostic procedures.

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The segment was dominated by hospitals & diagnostics centers segment in 2015 with a share of more than 25.0%. The dominance can be attributed to growing usage of automated devices in pharmacies & laboratories sufficing various requirements in diagnostic procedures.

Automation in hospital segment, particularly in tier 2 & 3 cities of emerging economies of the Asia Pacific region such as India is presenting with lucrative opportunities.

A substantial revenue share of over 43.0% was held by North America in 2015 as a consequence of increasing healthcare expenditure by government healthcare and life science sectors to promote research. Europe held the second largest market share owing to demographic shift in geriatric patient base, possessing greater susceptibility to chronic disorders thereby pushing demand for automated point-of-care testing.

The prominent players include Danaher Corporation, Koninklijke Philips N.V., Siemens AG, Stryker Corporation, Intuitive Surgical Inc., GE Healthcare, Swisslog Holding AG, Medtronic Plc., Tecan Group Ltd., Accuray Inc. Competition in the industry is high as a consequence of prominent players undertaking strategic initiatives such as acquisitions, technological advancements, new product launch and collaborations. For instance, Tecan acquired Sias AG in November 2015, to expand the business for providing mechanization solution for laboratory.

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Market Segmentation: 

Global Medical Automation Application Outlook (Revenue, USD Million, 2014 - 2024)

        • Diagnostic & Monitoring Automation

                • Automated imaging & analysis

                • Point-of-care testing

        • Therapeutic Automation

                • Surgical Automation

                • Non-surgical Automation

        • Lab and Pharmacy Automation

                • Laboratory Automation

                • Pharmacy Automation

        • Medical Logistics and Training

Global Medical Automation End-use Outlook (Revenue, USD Million, 2014 - 2024)

        • Hospitals & Diagnostic Centers

        • Research Laboratories & Institutes

        • Pharmacies

        • Home & Ambulatory Care

Medical Automation Regional Outlook (Revenue, USD Million, 2014 - 2024)

        • North America

                • U.S.

                • Canada

        • Europe

                • UK

                • Germany

        • Asia Pacific

                • Japan

                • China

                • India

        • Latin America

                • Mexico

                • Brazil

        • MEA

                • South Africa

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SOURCE Million Insights