Medical Automation Market Driven at Healthy CAGR with Advanced Product Launch

Precise diagnosis of a disease or health condition is vital for a patient seeking medical intervention. Accuracy of diagnosis determines the course to treatment and prognosis of that health condition. Hence, precision becomes a vital aspect of clinical diagnosis. Automated medical systems and laboratories help healthcare providers to make accurate diagnosis, which is vital to provide suitable treatment to the patients. Increased level of efficiency of the clinicians is the driving factor for the medical automation market worldwide. Global industry for these systems is expected to maintain healthy growth rate within next few years. This growth is majorly driven technological advancements.

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Segmentation in Medical Automation Systems Market

Broad classification in the industry is based on the types of applications, deployment for various end users and geographic regions. On the basis of applications, medical automation market is classified into diagnostic and monitoring automation, lab and pharmacy automation, therapeutic automation and logistics and training automation. On the basis of end users, the market is segmented into hospitals and diagnostic centers, research labs and institutes, pharmacies and home and ambulatory services. Based on the recent market research reports, home and ambulatory automation segment is the dominating of all the segments based within the end user section. Geographically, the market is classified into North America, Asia Pacific, Europe and rest of the world.

Market Drivers and Forecasting

Rising need for reproducibility, accuracy and labor costs are some of the strongest drivers for the global medical automation market. Increasing awareness towards healthcare practices is putting pressure on the demand for accuracy in all the medical proceedings. This is a strong factor for the growth of the market in emerging markets like Asia Pacific and rest of the world. Increasing government attention is leading to increased investments, which is also giving way to capitalist investments in the industry. All these trends are increasing the demand and global presence of the automated laboratory and medical systems in the world. Technological advancements also play a great role in the process of growth of this industry. Innovation and advanced devices are also driving the developed and developing regions.

Based on market research reports, global medical automation market is expected to maintain a healthy CAGR of over 9% from 2013 to 2018. At this rate, the market is expected to grow up to $66,920.5 million by 2018, which in 2013, was poised at $43,213.6 million. North America is expected to dominate the global market. Within North America, United States of America holds largest market shares. However, implementation of excise tax is the biggest restraint for the industry in this region. Improving investments and growing demand in developing regions is a positive sign for the market in Asia Pacific and rest of the world.

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