The Medical Automation is an emerging branch of the medical sector that is tended to evolve continuously in the presence of the technological advancements. Increasing prevalence of chronic diseases like cancer, diabetes, and others followed by the growing pharmaceutical and biotechnology sector are the major drivers for the market growth during the forecast period, 2017-2023. According to the Indian Brand Equity Foundation in 2017, the Indian biotech industry holds about 2% share of the global biotech industry. The biotechnology industry in India comprises of about 800 companies and is valued to be about USD 11.6 billion in 2017. Additionally, rising demands for robotic surgery along with the rising healthcare expenditure boost the market growth. On the other hand, the high cost of automation, risks associated with the robotic surgery and the necessity for the physician training are estimated to restrain the market growth during the forecast period. The Global Medical Automation Market is expected to grow at a CAGR of 7.0% during the forecast period.
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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.
Medical Automation Market Regional Analysis:
The Americas dominate the global medical automation market owing to an increasing prevalence of the diseases like cancer, diabetes, and others. Moreover, growing biotechnology and biopharmaceutical sector within the region is fuelling the market during the forecast period. In 2016 according to the National Cancer Institute, approximately 1,685,210 new cases of cancer were diagnosed in the United States and approximately 595,690 deaths were reported due to the same, Europe is the second largest market for the global medical automation. The market growth in the European region is facilitated by the presence of developed economies. Huge patient population and rising healthcare expenditure within the region is further fuelling the market growth within the region. 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 is driving the market growth. Moreover, favorable government policies are boosting the market growth within the region. The Middle East & Africa & Africa holds the least market share. This can be attributed to the presence of the low per capita income and stringent government policies, especially within the African region.
Medical Automation Market Key Players:
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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1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.2.2 ASSUMPTIONS & LIMITATIONS
1.3 MARKET STRUCTURE
2 RESEARCH METHODOLOGY
2.1 RESEARCH PROCESS
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH
3 MARKET DYNAMICS
3.4 MACROECONOMIC INDICATORS
List of Tables:
TABLE 1 GLOBAL MEDICAL AUTOMATION MARKET BY TYPE, 2014 TO 2023 (USD MILLION)
TABLE 2 GLOBAL MEDICAL AUTOMATION MARKET FOR DIAGNOSTIC & MONITORING AUTOMATION, BY TYPE, 2014 TO 2023 (USD MILLION)
TABLE 3 GLOBAL MEDICAL AUTOMATION MARKET FOR THERAPEUTIC AUTOMATION, BY TYPE, 2014 TO 2023 (USD MILLION)
TABLE 4 GLOBAL MEDICAL AUTOMATION MARKET FOR MEDICAL LOGISTICS & TRAINING, BY TYPE, 2014 TO 2023 (USD MILLION)
TABLE 5 GLOBAL MEDICAL AUTOMATION MARKET FOR DIAGNOSTIC & MONITORING AUTOMATION, BY REGION 2014 TO 2023 (USD MILLION)
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List of Figures:
FIGURE 1 GLOBAL MEDICAL AUTOMATION MARKET, BY TYPE, 2016
FIGURE 2 GLOBAL MEDICAL AUTOMATION MARKET, BY END USER, 2016
FIGURE 1 GLOBAL MEDICAL AUTOMATION MARKET, BY REGION, 2016
FIGURE 2 GLOBAL MEDICAL AUTOMATION: MARKET STRUCTURE
FIGURE 3 RESEARCH PROCESS
FIGURE 4 GLOBAL MEDICAL AUTOMATION MARKET: FORECAST MODEL
FIGURE 5 PORTERS FIVE FORCES MODEL: GLOBAL MEDICAL AUTOMATION MARKET
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