The global medical automation market is valued at $43,213.6 million in 2013. The medical automation market is broadly classified on the basis of application, end-users, and geography. The applications market is further divided into diagnostics and monitoring automation, therapeutic automation, lab and pharmacy automation, and logistics and training automation. Under therapeutic automation, the surgical automation market showcases a lucrative growth potential. Surgical robots, intelligent operating rooms, and surgical simulators represent the new revenue pockets and are expected to flourish in future.
The need for reproducibility and accuracy in medical procedures, rising labor costs, government and venture capitalist investments, are the factors that are likely to provide an impetus for the growth of the medical automation market in future. However, varied stringency of regulatory procedures globally, and an implementation of 2.3% tax by the U.S. government on medical devices manufacturers is likely to hinder the growth of this market. Despite this, the presence of an untapped market in emerging countries, the increasing number of collaborations between healthcare automation companies and research institutes to promote research, and the growing need of automation in various other medical fields such as genomics and proteomics represents the growth opportunities for this market.
The global medical automation market is highly competitive and all the existing players in this market are engaged in developing new and advanced products, to maintain their market share. A number of small, mid-sized emerging players, and large players are present in the global medical automation market.The degree of competiveness amongst these players is high. The medical automation market has no clear market leader, as various segments have different leaders, depending on their expertise and product offerings. For instance, Given Imaging (Israel) is the market leader in the capsule endoscopes market, while the global lab automation market is dominated by Tecan Group Ltd. (Switzerland).
The study analyzes regional markets, namely North America, Europe, Asia, and Rest of the World (RoW) for individual application segments. In-depth geographic analysis deals with significant government investments, funding, grants, venture capitalist investments, collaborations, new researches to provide a holistic market landscape. Taiwan, China, Japan, Singapore, and India are considered the high growth potential markets. Rising research related activities, labor costs, government investments, and investments by major players in the regions are the major factors that fuel the growth of the Asian market.
