Medical Automation Market 2018 Growth Analysis, Future Trends and Top Industry Players – Forecast to 2018 – 2023
Medical Automation Market Report include on MarketReseacrhFuture.com with exhaustive Study. The report aims to provide an overview of Medical Automation Market Report. The report provides key statistics on the market status. Global Forecast till 2023.
Pune, India – July 31, 2018 /MarketersMedia/ —
The Global Medical Automation Market is expected to grow at a CAGR of 7.0% during the forecast period. 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.
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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.
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.
On the basis of end users, the market is segmented into hospitals and diagnostic centers, pharmacies, research labs & institutes, research labs & institutes, and others.
Medical Automation Market – Competitive Landscape
The Global Medical Automation Market is highly competitive, and the key players operating in the market include Koninklijke Philips N.V., GENERAL ELECTRIC, Stryker, Accuray Incorporated, Siemens AG, Medtronic, Danaher, and others.
Industry Updates:
In June 2018, Siemens technology group announced a partnership with a supplier of the biopharmaceutical company, Sartorius Stedim Biotech (SSB) in the area of automation. Sartorius Stedim Biotech will use automation technology of Siemens for the biopharmaceuticals development and manufacture. The automation will facilitate greater scalability of processes.
In June 2018, a UK-based medical equipment developer, CRM Surgical collected funds from investors for commercializing its next-generation surgical robotic system. The financers include Zhejiang Silk Road Fund, Escala Capital Investments, Watrium, LGT and Cambridge Innovation Capital. The company will use the funds to complete validation studies for approval of the system.
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