Global Medical Automation Market Estimated to rise at 7% CAGR between 2017 and 2023 due to Growth in Pharmaceutical & Biotechnology Sector


Posted November 6, 2019 by celinaredden

: Increasing Burden of Chronic Diseases Led to The Growth of Medical Automation Market

 
The increasing global burden of diseases like cancer, diabetes and others have increased the demands for correct and timely diagnostics, so as to be followed by accurate therapeutics. For instance, in 2016, according to the National Cancer Institute, approximately 1,685,210 new cases of cancer were diagnosed in the United States and approximately 595,690 deaths were reported due to the same.

Leading 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).

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Market Overview

The medical automation market has been on the rise over the past few years. Based on the MRFR analysis, the market is projected to reach USD 42,284.6 million by 2023 at a healthy CAGR of around 7.00%. The global market was valued at USD 26,332.7 million in 2016. The global market for medical automation is expected to grow at an exponential rate owing to the growing biotechnology and pharmaceutical sector and rising demands for robotic surgery. Majority of market players are focusing on the development of new products and product expansion in the emerging markets.

Segmental Analysis

The global medical automation market has been segmented into end users, type, and lastly, region. Based on end users, this market has been segmented into home/ambulatory care settings, hospitals & diagnostic centers, pharmacies, and research labs & institutes. By type, the market has been segmented into diagnostic & monitoring automation, lab & pharmacy automation, medical logistics & training, and therapeutic automation.

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)

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Who has the ability to hinder market growth?

With the growing advancement in technology the costing of the products is increasing, which is has suppressed the growth of the market. For instance, According to the Economic Cycle Research Institute in 2015, the average quoted prices of da Vinci robot models was estimated to range from USD 0.91 million to USD 2.31 million

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Categories Automotive , Health , Medical
Tags Medical Automation Market , Global Medical Automation Market , Medical Automation Market Trends
Last Updated November 6, 2019