(EMAILWIRE.COM, April 18, 2020 ) The global medical automation market is expected to reach USD 55.03 Billion, at CAGR of 9.5%.

Continuous technological advancements in automation solutions, increasing government financial support for medical automation, rising labour costs, and growing need for reproducibility and accuracy are key factors fuelling the growth of the medical automation market. Increasing demand for automation in laboratories and pharmacies and high potential for early detection and treatment of diseases due to automation are some other prime factors offering growth opportunities for players in the medical automation market. However, high cost of automation is one of the key restraints for this market.

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On the basis of application, the medical automation market is divided into four segments, namely, diagnostic and monitoring automation (automated image analysis, automated imaging, and point-of-care testing), therapeutic automation (non-surgical automation and surgical automation), laboratory and pharmacy automation (laboratory automation and pharmacy automation), and medical logistics and training (logistic automation and trainers). The medical logistics and training segment is expected to grow at the highest rate in the next five years, owing to high adoption of these automated systems (pneumatic tubes, AGV, RTLS, and RFID) by big hospitals and diagnostic centers.

The therapeutic automation market segment holds the largest share in the global medical automation market. This segment is further categorized on the basis of product into non-surgical automation (defibrillators and automated medication systems) and surgical automation (surgical robots, intraoperative imaging, surgical navigation, intelligent operating rooms, and surgical simulators). In 2015, the non-surgical automation segment held a larger share of 72.9% of the global therapeutic automation market. The increasing incidences of various chronic diseases and technological advancements in defibrillators and medication systems are the key factors contributing to the growth of this market segment.

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On the basis of geography, medical automation market is classified into four regions, namely, North America (U.S. and Canada), Europe, Asia-Pacific, and the Rest of the World. The global medical automation market is estimated to be dominated by North America. Large number of ongoing clinical trials in the U.S., high adoption rate of technologically advanced medical devices in this region, and developed healthcare reimbursement structure are contributing to the large share of the North American medical automation market. The Asia-Pacific market is expected to grow at the highest CAGR.

Koninklijke Philips N.V. (Netherlands), Siemens AG (Germany), General Electric Company (U.S.), Intuitive Surgical, Inc. (U.S.), Stryker Corporation (U.S.), Accuray Incorporated (U.S.), Danaher Corporation (U.S.), and Swisslog Holding AG (Switzerland) are some of the key players in the medical automation market.