/ Press Release Details /

Medical Automation Market Size Worth $75.6 Billion By 2025 | CAGR: 10.9%

The global medical automation market is expected to grow at growth rate of 10.9% to reach USD 75.6 billion by 2025.

Medical Automation systems involves safely assisting patients with care to avoid any injuries to patient or caregiver and equipment provides effective mobility, comfort to patients using tools such as slings, lifts, hoists, etc. which help in safe and easy patient handling experience. Growing demand for automation in the medical field is primarily driven by the constant rise in labor cost worldwide. Also, advancement in technologies coupled with rising investment by key players in this market drives the industry growth. Furthermore, increasing incidence of musculoskeletal disorders (MSDs) coupled with aging population provides a healthy platform for this market to grow over the forecast period. However, high cost and lack of skilled professionals in developing regions are anticipated to hamper the overall industry growth in the future period.

Key Takeaways

In terms of application, the market is divided into Therapeutic, Diagnostic, Laboratory & Pharmacy, and Medical Logistics. Among which therapeutic segment accounted for the largest share of the total industry.
In 2017, therapeutic automation achieved USD 13.8 billion and is projected to remain on the top spot over the future period
North America capture the largest share owing to the introduction of innovative products coupled with rising research and development activities by key players
Middle East Africa is considered to record the lowest revenue in 2017 owing to the low awareness regarding new medical technologies. Engagement with the academia and government to develop relevant courses that will develop required skill base for the industry and introduction of proper training institutes will help this region to capture significant share in this market in long run.
The market is largely controlled by well-established players even though the presence of small companies is noticeable too. Companies such as Medtronic, GE Healthcare, Stryker, Siemens, and Philips exhibit their strong presence.

KEY BENEFITS OF THE REPORT

In-depth analysis of the key market dynamics
Granular analysis of the current market scenario and expected factors to affect the market
Detailed analysis of the geographic region, regional and county wise analysis
Highlight on the strategies that are being adopted by the key players in this market to stay competitive
Extensive analysis of the key players dominating the market

The scope of this report covers the market by its major segments, which include as follows:

Market Segmentation

MARKET, BY APPLICATION