Medical Automation Market Device Technology Market Scenario and Growth Opportunities 2019 - 2025
Global Medical Automation Market: Information by Type (Medical Logistics & Training (Logistic Automation and Trainers), Lab & Pharmacy Automation, Therapeutic Automation (Non-Surgical and Surgical) and Diagnostic & Monitoring Automation (Automated Monitoring, Point-of-Care Testing and Automated Image Analysis)), by End User (Hospitals & Diagnostic Centers, Pharmacies, Research labs & Institutes and others) and Region (Americas, Europe, Asia-Pacific and the Middle East & Africa) - Forecast till 2023
Market
Highlights
Medical
automation is an emerging branch of the medical sector that is tended to evolve
continuously in the presence of the technological advancements. Increasing
prevalence of chronic diseases like cancer, diabetes, and others followed by
the growing pharmaceutical and biotechnology sector are the major drivers for
the market growth during the forecast period, 2017-2023. According to the
Indian Brand Equity Foundation in 2017, the Indian biotech industry holds about
2% share of the global biotech industry.
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The biotechnology industry
in India comprises of about 800 companies and is valued to be about USD 11.6
billion in 2017. Additionally, rising demands for robotic surgery along with
the rising healthcare expenditure boost the market growth. On the other hand,
the high cost of automation, risks associated with the robotic surgery and the
necessity for the physician training are estimated to restrain the market
growth during the forecast period.
The global medical
automation market is expected to grow at a CAGR of 7.0% during the forecast
period.
Segmentation
The global medical
automation market is segmented on the basis of type, and end users.
On the basis of type, the
market is segmented into diagnostic & monitoring automation, therapeutic
automation, lab & pharmacy automation, medical logistics & training,
and others. The diagnostic & monitoring automation segment is sub-segmented
into automated imaging, point-of-care testing (POCT), automated image analysis,
and others. The therapeutic automation segment is sub-segmented into
non-surgical automation, surgical automation, and others. The medical logistics
& training segment is sub-segmented into logistic automation,
trainers, and others.
On the basis of end users,
the market is segmented into hospitals and diagnostic centers, pharmacies,
research labs & institutes, research labs & institutes, and
others.
Regional Analysis
The Americas dominate the
global medical automation market owing to an increasing prevalence of the
diseases like cancer, diabetes, and others. Moreover, growing biotechnology and
biopharmaceutical sector within the region is fuelling the market during the
forecast period. In 2016 according to the National Cancer Institute,
approximately 1,685,210 new cases of cancer were diagnosed in the United States
and approximately 595,690 deaths were reported due to the same, Europe is
the second largest market for the global medical automation. The market growth
in the European region is facilitated by the presence of developed economies.
Huge patient population and rising healthcare expenditure within the region is
further fuelling the market growth within the region. In Asia Pacific
region growing biotech and biopharmaceutical factor, increasing patient
population and rising healthcare expenditures along with the increasing demands
for the robotic surgery is driving the market growth. Moreover, favorable
government policies are boosting the market growth within the region. The
Middle East & Africa & Africa holds the least market share. This can be
attributed to the presence of the low per capita income and stringent
government policies, especially within the African region.
Market Dynamics
The increasing prevalence of chronic diseases like
cancer, diabetes, and others, along with the growing pharmaceutical &
biotechnology sector and rising demand for robotic surgery are the major
drivers propelling market growth. For instance, according to a report published
by the National Cancer Institute in 2016, approximately 1,685,210 new cases of
cancer were diagnosed in the US. Moreover, rising healthcare expenditure is also
projected to boost market growth. However, the high cost of automation and
risks associated with robotic surgery, followed by the necessity of physician
training are expected to constrain the growth of the market.
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The report for Global market by Market
Research Future comprises of extensive primary research along with the detailed
analysis of qualitative as well as quantitative aspects by various industry
experts, key opinion leaders to gain a deeper insight of the market and
industry performance. The report gives a clear picture of the current market
scenario which includes past and estimated future market size with respect to
value and volume, technological advancement, macro economical and governing
factors in the market. The report provides detail information about and
strategies used by top key players in the industry. The report also gives a
broad study of the different market segments and regions.
Key Players
The key players in the
global medical automation market are Koninklijke Philips N.V., Siemens AG,
GENERAL ELECTRIC, Medtronic, Stryker, Danaher, Accuray Incorporated, and
others.
TOC:
1.
Report Prologue
2. Market
Introduction
2.1
Definition
2.2 Scope of the
Study
2.2.1
Research Objective
2.2.2
Assumptions
2.2.3
Limitations
3. Research
Methodology
3.1 Introduction
3.2 Primary
Research
3.3 Secondary research
3.4 Market Size
Estimation
TOC…Continued
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