Global Medical Automation Market Forecast Indicators Trending Lucrative Growth Till 2023

Market Scenario: 

In recent years, various technological advancements led to the automation of the medical sector which enabled the controlled use of medical systems and related technologies. This reduced the need for human work in the production of goods and services. Increasing prevalence of the chronic diseases like cancer, diabetes, and others along with the growing pharmaceutical & biotechnology sector are the major drivers for the market growth during the forecast period. In 2015, according to the World Health Organization, cancer was the second leading cause of global deaths, killing as many as 8.8 million people. Moreover, it was estimated that about 70% of the reported deaths were accounted by the middle and low middle-income countries. However, the high cost of automation, risks associated with the robotic surgery along with the necessity of physician training are the major restraining factor for the market growth during the forecast period. In 2017, according to a case study published in the Journal of Public Health Research, the unified automated laboratory in Brescia called Core-Lab’s equipment cost increased approximately from USD 17.7 million to USD 24.2 million due to lab automation. Moreover, it was estimated that the physicians need a rigorous training for the surgical application of the medical robots. Approximately, USD 3,000 is the training cost per physician.

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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. On the basis of end users, the market is segmented into hospitals and diagnostic centers, pharmacies, research labs & institutes, research labs & institutes, and others.

Intended Audience:                                                                                               

Pharmaceutical companies
Biotechnological institutes
Research and Development (R&D) Companies
Medical Research Laboratories
Market Research and Consulting Service Providers

Regional Analysis:

The Americas dominate the global medical automation market owing to an increasing prevalence of diseases like cancer, diabetes, and others. Moreover, growing biotechnology and biopharmaceutical sector within the region is fuelling the market growth during the forecast period. Europe is the second largest market for the global medical automation. The presence of developed economies in the European region facilitates the market growth. According to the Australian Institute of Health and Welfare, the healthcare expenditure in Australia reached USD 62 billion in 2014-2015 from 103 billion during 2004-05. The least share of the global medical automation market is held by the Middle East & Africa. This can be attributed to the presence of the low per capita income and stringent government policies, especially within the African region.

Key players in global medical automation market

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.

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Table of Content:

1  REPORT PROLOGUE

2  MARKET INTRODUCTION

2.1 Introduction 16

2.2 Scope Of Study 16

2.3 Research Objective 16

2.4 Assumptions & Limitations 17

2.4.1 Assumptions 17

2.4.2 Limitations 17

3  RESEARCH METHODOLOGY

3.1 Research Process 18

3.2 Primary Research 19

3.3 Secondary Research 19

3.4 Market Size Estimation 19

3.5 Forecast Model 20

TOC Continued…!

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This release was published on openPR.