Medical Automation Market Dynamics, Growth Prospect and Consumption Analysis till 2024

Posted on 2021-08-13 by researchinsights in Healthcare // 0 Comments

San Jose, California , USA, Aug 13, 2021 — /EPR Network/ —

The Medical Automation Market report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. It also provides a detailed analysis of global market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Furthermore, it sheds light on the market contribution, recent developments and successful marketing strategies of leading companies.

Market Insights

The global market for medical automation 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.

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Drivers

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.

Moreover, the rise in laboratory automation and benefits associated with automation in pharmacies is broadening the growth prospects further. These benefits include such as reliability, speed, reduction of errors in huge sampling and greater cost efficiency which is anticipated to positively impact future demand over the coming years. Furthermore, advent of technologically advanced products such as usage of robots in radio surgery, material handling in hospitals and others, are factors predicted to drive growth potential.

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

Top Players Analysis covered in these report

Danaher Corporation
Stryker Corporation
GE Healthcare
Swisslog Holding AG
Tecan Group Ltd
Intuitive Surgical Inc
Accuray Inc. and many others

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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.

Additionally, presence of various government organizations including Medicine and Healthcare Products Regulatory Agency which validates automated systems in pharmacies and devices with the regulations of the region is predicted to provide growth opportunities in the coming years. Asia Pacific is anticipated to witness attractive growth opportunities during the forecast period owing to the frequent upgradation in healthcare infrastructure, growing patient awareness levels and prevalence of cardiovascular diseases, orthopedic disorders, cancer and diabetes.

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