Medical Automation Market Significant Profits Estimated to be Generated by 2023

The Analysis presents the study of Worldwide Medical Automation facilitating the regional and country wise analysis covering the strategic analysis of each market player and the market share they hold. The Global Medical Automation Market is expected to grow at a CAGR of 7.0% during the forecast period.
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. Moreover, according to the Biotechnology and Biological Sciences Research Council in 2015, the U.K biotechnology businesses spent approximately USD 2.6 billion on equipment, materials, and services. Additionally, rising demands for robotic surgery and rising healthcare expenditure is boosting the market growth. In 2014, according to the Health Research Funding, in 2012 approximately 400,000 robotic surgeries were performed across all types of surgeries in the U.S. Moreover, it is suggested that blood transfusion rates during robotic surgeries are minimal as compared to the open surgery blood transfusion rates that may be up to 40%. 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.

Medical Automation Market 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.
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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Medical Automation Market 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 U.K HealthCare, approximately 970 robotic surgical procedures were performed within the region from 2012-2015. 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 drive 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.
Major Table of Contents:
1 Report Prologue
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global Medical Automation Market, By Type
7 Global Medical Automation Market, By End User
8 Global Medical Automation Market, By Region
9 Competitive Landscape
10 Company Profiles
11 Appendix
12 Conclusions
…Continued
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