Medical Automation Market Is Projected To Reach USD 79.4 Billion By 2024:By Grand View Research, Inc.
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.
Browse full research report on Medical
Automation Market: http://www.grandviewresearch.com/industry-analysis/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
- 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
Access press release of this
research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-medical-automation-market
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, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information: www.grandviewresearch.com
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