Medical Automation Market: Information by Type (Medical Logistics & Training (Logistic Automation, and Trainers), Lab & Pharmacy Automation, Therapeutic Automation (Non-Surgical and Surgical), and Diagnostic & Monitoring Automation (Automated Monitoring, Point-of-Care Testing, and Automated Image Analysis)), by End User (Hospitals & Diagnostic Centers, Pharmacies, Research labs & Institutes, and Others) and Region (Americas, Europe, Asia-Pacific, and the Middle East & Africa)—Forecast till 2023
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Leading Medical Automation Market Players
The key players in the global medical automation market include Accuray Incorporated (USA), Danaher (USA), General Electric (USA), Koninklijke Philips N.V. (the Netherlands), Medtronic (USA), Siemens AG (Germany), and Stryker (USA).
Market Analysis
Automation has drastically changed medical operations over the years, and the medical automation market has witnessed substantial growth in the recent past. The global medical automation market is projected to grow at a promising CAGR of 7.0% over the forecast period of 2014 to 2023, reveals a study by Market Research Future (MRFR). Advancements in core technologies give rise to a myriad of complexities in the medical field which calls for automation. A rising number of hospitals and medical institutions are investing in medical automation as they help in cost and error reduction and improvement of outcomes.
Table of Content
4 Market Dynamics
4.1 Introduction
4.2 Drivers
4.2.1 Increasing prevalence of the chronic diseases like cancer, diabetes, and others (Impact Weightage- 33%)
4.2.2 Growing pharmaceutical and biotechnology sector facilitates the automation of the medical sector (Impact Weightage- 35%)
4.2.3 Growing demands for robotic surgery and rising healthcare expenditure (Impact Weightage- 32%)
4.3 Restrains
4.3.1 High cost of automation (Impact Weightage-55%)
4.3.2 Risks associated to the robotic surgery followed by the necessity of physician training (Impact Weightage-45%)
5 Market Factor Analysis
5.1 Porter’s Five Forces
5.1.1 Introduction
5.1.2 Bargaining power of suppliers
5.1.3 Bargaining power of buyers
5.1.4 Threat of new entrants
5.1.5 Threat of substitutes
5.1.6 Degree of rivalry
5.2 Value Chain Analysis
5.2.1 Engagement and Designing
5.2.2 Manufacturing
5.2.3 Distribution & Sales
5.2.4 Post-sales Follow-ups
Continued…
List of Tables
TABLE 1 GLOBAL MEDICAL AUTOMATION MARKET BY TYPE, 2014 TO 2023 (USD MILLION)
TABLE 2 GLOBAL DIAGNOSTIC & MONITORING AUTOMATION MARKET 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)
Continued…
Market Segmentation
The global medical automation market has been segmented based on type and end-users. By type, the market has been segmented into Diagnostic and Monitoring Automation, Therapeutic Automation, Lab & Pharmacy Automation, and Medical Logistics & Training. By end-users, the market has been segmented into Hospitals, Pharmacies, and Research Labs.
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Regional Analysis
The key markets of the global medical automation market comprise of the Americas, Europe, Asia-pacific and the Middle East & Africa. The Americas account for the most significant share of the market owing to rising incidences of chronic diseases such as cancer, diabetes. Presence of a robust healthcare sector in the region coupled with growing investments due to the availability of funds for R&D activities.
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