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Medical Automation Market by Application & by End-User – 2020

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October 12, 2017 in Health

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The global medical automation market over the forecast period of 2015 to 2020. The market is expected to reach USD 55.03 Billion by 2020, at CAGR of 9.5% from 2015 to 2020. Continuous technological advancements in automation solutions, increasing government financial support for medical automation, rising labour costs, and growing need for reproducibility and accuracy are key factors fuelling the growth of the medical automation market. Increasing demand for automation in laboratories and pharmacies and high potential for early detection and treatment of diseases due to automation are some other prime factors offering growth opportunities for players in the medical automation market. However, high cost of automation is one of the key restraints for this market.

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Emerging Asia-Pacific countries, including India and China, offer high growth potential for companies engaged in the development and marketing of automated solutions for the healthcare industry. Growing geriatric population; increasing cases of cardiovascular disease (CVD), diabetes, cancer, and orthopedic diseases; rising clinical research; and growing government expenditure on healthcare and life science research are the key factors propelling the growth of the medical automation market in the emerging countries.
Koninklijke Philips N.V. (Netherlands), Siemens AG (Germany), General Electric Company (U.S.), Intuitive Surgical, Inc. (U.S.), Stryker Corporation (U.S.), Accuray Incorporated (U.S.), Danaher Corporation (U.S.), and Swisslog Holding AG (Switzerland) are some of the key players in the medical automation market. As of 2014, Medtronic plc (U.S.) held the leadership position in the global implantable cardioverter defibrillators market. Over the past three years, the company adopted new product launches; collaborations; and product approvals as its key business strategies to ensure its dominance in this market. Similarly, in 2014, Tecan Group Ltd. (Switzerland) held the leadership position in the laboratory automation market. The company focuses on new product launches and product enhancements as its key strategy to sustain its leading position in the medical automation market.

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Global Medical Automation Market, by End User
• Hospitals & Diagnostic Centers
• Research Laboratories & Institutes
• Pharmacies
• Home/Ambulatory Care Settings & Others
Drivers
Growing Need for Reproducibility and Accuracy to Fuel the Global Medical Automation Market
Rising Labor Costs Driving A Need for Pharmacy Automation
Technological Advancements to Boost the Adoption of Automation Technology
Rising Government Support for Medical Automation
Investments By Venture Capitalists and Collaborations to Promote Automated Medical Devices

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New product launches, product approvals, and product enhancements is the primary growth strategy adopted by major players to enhance their positions in the global medical automation market. Moreover, strategies such as partnerships, agreements, and collaborations; geographic expansions; and acquisitions were also adopted by a significant number of market players to strengthen their product portfolios and expand their geographic presence in the market.

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