The global medical automation
market is expected to reach USD 79.4 billion by 2024, according to a new report
by Grand View Research, Inc. The increasing demand for accuracy and
reproducibility required during medical procedures is the high impact rendering
driver for the medical automation market.
The rising adoption of these
devices is attributed to the advantages associated with automated systems. For
example, the automation of tedious tasks such as sampling, monitoring of
quality, quantity, packaging and labeling, and scanning of medicines and
devices, have reduced human efforts and increased speed and accuracy, which has
led to increased dependency on these automated systems.
Moreover, the growing global
prevalence of chronic conditions such as diabetes, cancer, arthritis, and
chronic obstructive pulmonary disease (COPD) is further pushing the demand for
therapeutic, laboratory and pharmacy automated medication systems, which are
faster and more productive. As per the World Health Organization (WHO) estimates,
cardiovascular diseases (CVDs) is the leading cause of mortality around the
globe; in addition, an exponential rise has been witnessed in the diabetes
cases from 108 million in 1980 to 422 million in 2014. The aforementioned
factors are responsible for creating the need for automated medical equipments
over the forecast period.
Furthermore, with the advent of
technologically advanced defibrillators and ablation therapies, this market is
expected to gain swift growth in its market share in the near future. For
instance, automation in the following pharmacy-based functions, medication
dispensing, storage, and retrieval enables traceability and tracking, which in
turn improves patient safety and reduces errors. Furthermore, there is an
increased focus on incorporating automation in hospitals due to the associated
benefits, such as reduction of errors and operational costs; these factors
altogether are expected to present this market with high growth opportunities
in the near future.
In depth research report on Medical Automation Market
Further key findings from the study suggest:
·
The therapeutic segment was
observed to dominate in terms of revenue share in 2015owing to the high usage
rate of automated devices in the non-surgical procedures, such as external
defibrillators, an implantable cardioverter, and wearable/ implantable drug
pumps
·
On the other hand, the medical
logistics and training segment is expected to grow at a lucrative CAGR of over
10.0%. The rising adoption of advanced systems, such as Pneumatic Tube Systems
(PTS) used in material transportation and Real Time Location System (RTLS) in
location-tracking, contributes towards the overall medical automation market
growth during the forecast period.
·
The research laboratories and
institutes segment is also identified as a lucrative segment due to, the rising
demand for automated research laboratories that are helpful in the detection
and the treatment of chronic diseases. These laboratory automated systems help
in reducing demand and supply gaps by mechanization, which yields rapid results
and increases overall productivity. This is expected to further enhance its
usage over the forecast period.
·
With an aim to address the
increasing demand for advanced molecular diagnostic techniques in cancer, the
Leiden University Medical Center have recently succeeded in isolating DNA and
RNA from small tissue samples using a high-throughput, fully automated solution
by Siemens. Innovations like these are expected to present the market with
significant growth opportunities.
·
Some key players in this
industry include Accuray, Inc., Tecan Group Ltd., Medtronic Plc., Swisslog
Holding AG, GE Healthcare, Intuitive Surgical, Inc., Stryker Corporation,
Siemens AG, Koninklijke Philips N.V., and Danaher Corporation.
·
These industry players are
adopting strategies such as technological innovation, new product launches, and
strategic collaborations including mergers and acquisitions to capitalize
untapped opportunities. For instance, in July 2015, Medtronic Plc. acquired RF
Surgical Systems, Inc., for further expansion of its business and with the aim
of capturing a huge market share of the medical automation market in the coming
years.
Grand View Research has
segmented the medical automation market on the basis of application, end-use,
and region:
Global Medical Automation Application Outlook (Revenue,
USD Million, 2014 - 2024)
·
Diagnostic & Monitoring
Automation
o
Automated imaging &
analysis
o
Point-of-care testing
o
Therapeutic Automation
o
Surgical Automation
o
Non-surgical Automation
·
Lab and Pharmacy Automation
o
Laboratory Automation
o
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
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
Japan
o
China
o
India
·
Latin America
o
Mexico
o
Brazil
·
MEA
o
South Africa
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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