The global Medical Automation Market is expected to reach USD 79.4 billion by 2024, according to a new report by Grand View Research, Inc. The increasing demand for accuracy and reproducibility required during medical procedures is the high impact rendering driver for the medical automation market.
The rising adoption of these devices is attributed to the
advantages associated with automated systems. For example, the automation of
tedious tasks such as sampling, monitoring of quality, quantity, packaging and
labeling, and scanning of medicines and devices, have reduced human efforts and
increased speed and accuracy, which has led to increased dependency on these
automated systems.
Moreover, the growing global prevalence of chronic
conditions such as diabetes, cancer, arthritis, and chronic obstructive pulmonary
disease (COPD) is further pushing the demand for therapeutic, laboratory and
pharmacy automated medication systems, which are faster and more productive. As
per the World Health Organization (WHO) estimates, cardiovascular diseases
(CVDs) is the leading cause of mortality around the globe; in addition, an
exponential rise has been witnessed in the diabetes cases from 108 million in
1980 to 422 million in 2014. The aforementioned factors are responsible for
creating the need for automated medical equipments over the forecast
period.
Furthermore, with the advent of technologically advanced
defibrillators and ablation therapies, this market is expected to gain swift
growth in its market share in the near future. For instance, automation in the
following pharmacy-based functions, medication dispensing, storage, and
retrieval enables traceability and tracking, which in turn improves patient
safety and reduces errors. Furthermore, there is an increased focus on
incorporating automation in hospitals due to the associated benefits, such as
reduction of errors and operational costs; these factors altogether are
expected to present this market with high growth opportunities in the near
future.
Browse Details of Report @
http://www.grandviewresearch.com/industry-analysis/medical-automation-market
Further key findings from the study
suggest:
- The
therapeutic segment was observed to dominate in terms of revenue share in
2015owing to the high usage rate of automated devices in the non-surgical
procedures, such as external defibrillators, an implantable cardioverter,
and wearable/ implantable drug pumps
- On the
other hand, the medical logistics and training segment is expected to grow
at a lucrative CAGR of over 10.0%. The rising adoption of advanced
systems, such as Pneumatic Tube Systems (PTS) used in material
transportation and Real Time Location System (RTLS) in location-tracking,
contributes towards the overall medical automation market growth during
the forecast period.
- The
research laboratories and institutes segment is also identified as a
lucrative segment due to, the rising demand for automated research
laboratories that are helpful in the detection and the treatment of
chronic diseases. These laboratory automated systems help in reducing
demand and supply gaps by mechanization, which yields rapid results and
increases overall productivity. This is expected to further enhance its
usage over the forecast period.
- With an
aim to address the increasing demand for advanced molecular diagnostic
techniques in cancer, the Leiden University Medical Center have recently
succeeded in isolating DNA and RNA from small tissue samples using a
high-throughput, fully automated solution by Siemens. Innovations like
these are expected to present the market with significant growth
opportunities.
- Some key
players in this industry include Accuray, Inc., Tecan Group Ltd.,
Medtronic Plc., Swisslog Holding AG, GE Healthcare, Intuitive Surgical,
Inc., Stryker Corporation, Siemens AG, Koninklijke Philips N.V., and
Danaher Corporation.
- These
industry players are adopting strategies such as technological innovation,
new product launches, and strategic collaborations including mergers and
acquisitions to capitalize untapped opportunities. For instance, in July
2015, Medtronic Plc. acquired RF Surgical Systems, Inc., for further
expansion of its business and with the aim of capturing a huge market
share of the medical automation market in the coming years.
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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