The global medical automation technologies market provides various automated services in health monitoring, prescriptions, therapeutics etc. The global medical technologies market revenue stood at $300 billion in 2011 and it is expected to grow at a CAGR of 7% by 2016. The medical automation technologies market is expected to have a significant market share as highly automated and sophisticated services are available in the market. Venture capitalists are investing in the market to boost the development of medical automation, which is a key driver for the market. For example, Google started a healthcare company, Calio, and is now developing smart contact lens for monitoring diabetes.
However, companies have to go through stringent approval procedures to launch products or services which is a restraint for the growth of the market. U.S. FDA has been criticized in the past for over regulation and delay in product launches. Another challenge for companies in the market is to overcome the 2.3% excise tax burden on medical devices. Most of the companies are opposed to this tax and are demanding to repeal it.
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Some of the key companies profiled in this report are Acrobot Company Ltd., Awarepoint Corp., Clearcount Medical Solutions, Inc.,Ekahau Inc., Ge Healthcare, eScreen Inc. , iCad INC.,Intuitive Surgical, Inc., Philips Healthcare, Quiqmeds, Inc., t+ Medical Americas and U-Systems, Inc.