Future Market Insights
Automation is a term referred for the usage of control systems and software to independently operate and monitor a mechanized system of various industrial processes (medical, chemical, textile, automotive, food & processing and others). Automated delivery of medical practices can help reduce errors, contain cost and streamline the process with improved outcomes. The rising demand for accuracy and reliability in medical procedures, increasing government investments, rising labor cost are the various reasons which are likely to propel the market for medical automation. Additionally, the growth of this market would be fuelled by growing usage of point of care testing devices such as HIV test kits, digital blood pressure monitors and pregnancy test kits. However, strict government regulation for medical device manufacturers globally is likely to hinder the growth of this market.
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The market for medical automation can be broadly segmented on the basis of application, end-users and geography. The application segment is further subdivided into therapeutic automation market, medical automation market and lab & pharmacy automation market. The medical automation market can be categorized on the basis of automated imaging, automated image analysis and point of care testing market. Automated radiography, automated microscopy, capsule endoscopy and automated fluoroscopy are the major segments which can be covered under automated imaging market. The therapeutic application market can be further sub-divided into various segments namely non-surgical automation and surgical automation. Defibrillators and automated medication systems are the two segments that can be covered under non-surgical automation. Defibrillators market can be further indentified on the basis of automated external defibrillators, wearable defibrillators and implantable cardioverter defibrillator. Similarly, implantable drug pumps and wearable drug pumps can be categorized under automated medication systems. Surgical automation market can be further studied on the basis of surgical robots (Da vinci, Cyberknife, renaissance and others), intraoperative imaging (ICT scanners, MRI, and IOUS), surgical navigation, intelligent operating rooms and surgical simulators.
Lab & pharmacy automation market can be identified on the basis of lab automation market and pharmacy automation market. Lab automation market includes microplate readers, liquid handling, automated storage and retrieval systems, stand-alone robots and software and informatics systems. The pharmacy automation market is further subdivided into automated medication dispensing systems, automated medication compounding systemsand automated packaging and labeling systems. On the basis of end users medical automation market can be classified as pharmacies, research laboratories & institutes, hospital and diagnostic centers and home/ ambulatory and others.
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Geographically, currently North America accounts for the largest share of the medical automation market followed by the European region. The dominance of these regions in this market is seen due to growing government investments and funding. Further, collaboration among the key players and increased investments by the venture capitalists are some of the reasons which have augmented the demand for medical automation in the North America and European region. In the U.S market medical automation in therapy segment accounts for the largest share of the market followed by diagnostics & monitoring and logistics & training. Asia-Pacific region is expected to show healthy growth in the near future majorly in India, China, Taiwan and Japan. The reason behind an expansion would be rapid decline in the number of rural labor, increasing government investments towards automation and economic developments. Additionally, growing demand for automation in the research laboratories is further propelling the growth of this industry.
Major players operating in medical automation market includes Accuray, Inc., Beckman Coulter, Inc., Asahi Kasei Corp, CAE, Ltd, Carefusion Corp, GE Healthcare, Lifescan, Inc., Medtronic, Inc., Intuitive Surgical Inc., Omnicell, Inc, Roche Holding AG, Philips Healthcare, Siemens Healthcare, St. Jude Medical, Inc., Stanley Black and Decker, Inc, Swisslog Holdings AG, Stryker Corporation, Simsurgery As, Parata Systems LLC and others.
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