Global Medical
Automation Market is foretold to provide a
robust support for industry players to lay a solid foundation for their
business growth. It includes a comprehensive evaluation of the industry growth
status and risk. In addition, it provides detail market variables, trends, key
opportunities, new entrants & competitors.
Medical Automation Market
study offers detail overview of industry with all the requisite data to support
tactical business decisions and come up with strategic growth plans. This study
also proposes a comprehensive insight into the development policies and plans
in addition to manufacturing processes and cost structures.
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Industry 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.
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.
Application Insights
The largest share of over
35.0% in application segment was held by therapeutic automation in 2015. The
dominance can be attributed to consistent rise in the adoption rate of
automated devices such as therapeutic dispensing systems, defibrillators,
surgical robots, automated microscopes, portable imaging device and orthopedic
navigation systems.
The high demand for
automation while performing minimally invasive surgeries is expected to widen
the scope for adoption of robotic surgical systems thereby fueling to the
medical automation industry over the coming years. The advantages offered by
these systems such as increase in process efficiency and enhanced patient
safety. In addition, they can be used as standard emergency care which is
predicted to drive the growth prospects and further broaden the penetration of
these systems in future.
End-use Insights
The segment was dominated
by hospitals & diagnostics centers segment in 2015 with a share of more
than 25.0%. The dominance can be attributed to growing usage of automated
devices in pharmacies & laboratories sufficing various requirements in
diagnostic procedures.
Automation in hospital
segment, particularly in tier 2 & 3 cities of emerging economies of the
Asia Pacific region such as India is presenting with lucrative opportunities.
For example, the Indian hospitals including Fortis and Apollo are aiming at
providing automated healthcare services which are operational in the region.
Moreover, presence of
various government agencies such as National Patient Safety Agency is striving
for improvement in penetration of automation in hospitals, which is responsible
for greater share garnered by hospitals.
Regional Insights
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.
Competitive Insights
The prominent players
include Danaher Corporation, Koninklijke Philips N.V., Siemens AG, Stryker
Corporation, Intuitive Surgical Inc., GE Healthcare, Swisslog Holding AG,
Medtronic Plc., Tecan Group Ltd., Accuray Inc. Competition in the industry is
high as a consequence of prominent players undertaking strategic initiatives
such as acquisitions, technological advancements, new product launch and
collaborations. For instance, Tecan acquired Sias AG in November 2015, to
expand the business for providing mechanization solution for laboratory.
Moreover, the competitive
nature of the industry is also a result of high amount of investments in
R&D, contracts and distributive agreements, which are anticipated to keep
industry rivalry high throughout the forecast period. For instance, Accuray
Inc. and medPhoton GmbH entered in collaboration in May 2016, to strengthen
their sales and distribution network.
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