The Medical Automation market is estimated to represent a global market of USD 35.23 billion by 2017 with growth rate of 10.9%.
Medical Automation systems involves safely assisting patients with care to avoid any injuries to patient or caregiver and equipment provides effective mobility, comfort to patients using tools such as slings, lifts, hoists, etc. which help in safe and easy patient handling experience. The concept of medical automation is increasing among the patient population as manual lifting involves risks of injuries & musculoskeletal disorders (MSDs) caused by lifting and moving patients. The aging population is expected to be another factor augmenting the overall market growth. Patients with disabilities and geriatric patients demand an extra care pre and post-surgical procedures, therefore, the demand for automated medical equipment such as power wheelchairs, hoists and slings increases, providing a strong platform for the industry growth.
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Furthermore, strict regulations against the manual lifting of heavy loads in healthcare facilities support the medical automation systems market. For example, guidelines published under Health and Safety Executive, Safety Health & Welfare at Work Regulations 2007, Workplace Safety and Health Council, CDC guidelines for manual handling of material, and European Agency for Safety & Health at Work (EU-OSHA) are in favor to use automated equipment in healthcare settings. All above factors stimulate the demand for these products, driving the market growth. A major roadblock to the growth of this industry is the dearth of skilled professionals, especially in developing regions.
The market is majorly classified in terms of application area into Diagnostic, Therapeutic, Laboratory & Pharmacy, and Medical Logistics. Among which, therapeutic segment captured the largest share of the total market. This segment covers both surgical and non-surgical automation. The surgical sector includes intelligent operating room, surgical robotics, surgical navigation and intraoperative imaging. Whereas non-surgical segment includes automated medication system, defibrillator, and others. In 2017, this segment achieved USD 13.8 billion and is projected to remain on the top spot over the future period. Advancement in technologies coupled with rising demand for therapeutic automation among end-users has helped this segment to grow consistently.
Global Medical Automation Market, by Application, 2017 vs 2025
Regionally, North America captures the largest share of the global market. Introduction of innovative products coupled with rising research and development activities by key players support the market growth in this region. Additionally, increasing investment by venture capitalists coupled with rising promotional activities by government organizations for medical automation support the industry grow further. The Asia Pacific and Latin America are anticipated to grow with highest growth rate owing to the rising number of surgical procedure coupled with growing demand for automation in medical industries.
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Key Vendor Takeaway
The global industry is characterized by the presence of numerous participants which demonstrates a highly competitive and a fragmented structure. Companies such as Medtronic, GE Healthcare, Stryker, Siemens, and Philips are profiled in detail. These players are profiled based on attributes such as company overview, financial performance, and key developments. Introduction of technologically advanced equipment is considered to be a major trend in this industry which is likely to propel the revenue growth.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
Traders, Distributors, and Suppliers
Government and Regional Agencies and Research Organizations
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY APPLICATION
Laboratory & Pharmacy
MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of the World
Middle East and Africa
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