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Global Healthcare Automation Market to Rise at a CAGR of 8.8% during the Forecast Period of 2017 – 2025
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The global healthcare automation market is expected to rise at a CAGR of 8.8% between 2017 and 2025. At this pace, the market is likely to reach a valuation of US$58.98 billion by the end of 2025 from US$28.31 billion in 2016. The factors responsible for this growth are increasing technological advancements in the global healthcare automation market. Technologies are evolving and are getting advanced with several new features due to the rise in demand for automation. The dynamic technological progress is fueling the demand for healthcare automation globally during the assessment period. Thus, automation is employed in various ways in the healthcare industry, thereby reducing the expenses.
The global healthcare automation market is segregated based on application into therapeutic automation, logistics and training automation, lab and pharmacy automation and diagnostics and monitoring automation. Among these, therapeutic automation market held the highest market revenue share in 2016. Requirement for accuracy and increasing cost of labor are some of the major factors increasing the demand of this segment globally during the forecast period. Likewise, on the basis of end-use the market is divided into research institutes and labs, pharmacies, home care and others. Among these, Research institutes and labs accounted for the highest market revenue globally during the forecast period. The geographical segregation of the global market includes Asia Pacific, North America, Europe, Middle East and Africa and Latin America. North America held the highest market share followed by Europe and Asia Pacific in 2016.
Some of the top players operating in the global healthcare automation market include Koninklijke Philips N.V. (the Netherlands), Siemens AG (Germany), General Electric Company (U.S.), Swisslog Holding AG (Switzerland), Medtronic PLC (Ireland), Intuitive Surgical, Inc. (U.S.), Danaher Corporation (U.S.), Accuray Inc. (U.S.), Stryker Corporation (U.S.) and Tecan Group Ltd. (Switzerland) among others.
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