Global Medical Automation Market 2019: Industry Analysis, Size, Share, Revenue and Forecast

The 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 market. However, high cost of automation is one of the key restraints for this market.

According to the new market research report "Medical Automation Market by Application (Diagnostics & Monitoring, Therapeutics, Lab & Pharmacy Automation, Medical Logistics & Training), End-User (Hospital, Diagnostic Center, Research Institute, Home/Ambulatory Care) - Global Forecast", published by MarketsandMarkets™.

Revenue Growth Opportunities:

Medical Automation Market is projected to reach USD 55.03 Billion, at CAGR of 9.5%

Market Segmentation in-Detailed:-

On the basis of application, the market is divided into four major segments, namely, diagnostic and monitoring automation (automated imaging, automated image analysis, 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 (logistics automation and trainers).

The therapeutic automation segment is estimated to hold the largest share of the global medical automation market. Increasing application of automated devices (such as defibrillators, surgical robots, surgical navigation systems, and automated medication systems) in therapeutics and rising incidences of various chronic diseases are driving the growth of this market segment.

On the basis of end users, the global market is divided into four segments, namely, hospitals and diagnostic centers, pharmacies, research laboratories and institutes, and home/ambulatory care settings and other end users.

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Worldwide Geographical Segmentation in-detailed:

The Medical Automation therapy market is segmented into four regional segments, namely, North America, Europe, the Asia Pacific, and the Rest of the World. North America is estimated to hold the largest share of the global market, followed by Europe. However, the Asia-Pacific market is expected to grow at the highest CAGR of 11.6% from 2015 to 2020. Presence of a large geriatric population; increasing prevalence of CVDs, diabetes, and cancer; rising number of clinical research activities; and growing government expenditure on healthcare and life sciences research are propelling the growth of the Asia-Pacific market.

Emerging Asia-Pacific countries, including India and China, offer high growth potential for companies engaged in the development and marketing of automated solutions for the healthcare industry.

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Leading Key Players in the Worldwide Industry:

The major players operating in the Medical Automation Market are Koninklijke Philips N.V. (Netherlands), Siemens AG, (Germany), General Electric Company (U.S.), Medtronic plc. (U.S.), Tecan Group Ltd. (Switzerland), Intuitive Surgical, Inc. (U.S.), Stryker Corporation (U.S.), Accuray Incorporated (U.S.), Danaher Corporation (U.S.), and Swisslog Holding AG (Switzerland)

Biobanking Market Forecast 2024, opportunities with Huge Profit and Marginal Revenue

Biobanking Market plays an integral role in advancing biomedical and translational research, through the collection and preservation of biological samples, such as blood, tissues, and nucleic acids, which are then made available for use in research to discover disease-relevant biomarkers; this is further used for diagnosis, prognosis, and predicting drug responses. Growth in the number of research activities in this segment forms a major driver for the market.

The availability of government funding for regenerative medicine, stem cell therapeutics, and cell & gene therapy is supporting research activities in this segment. Apart from this, the increasing trend of cord blood banking will also aid the growth of this market segment. Prospects including advancements in orthopedic procedures with the use of stem cells are expected to further support market growth for regenerative medicine.

Worldwide Growth Opportunities in Terms of Revenue & Segmentation:

The Biobanking Market is expected to reach $2.69 billion, Nearly at a CAGR of 7.8%. 

The Global market is segmented by product and service, sample type, storage type, application and regions.

By product and service, the market is segmented into equipment, consumables, services and software. The equipment segment is expected to lead the global market. Factors such as the growth in the number of biobanks and the number of biosamples to be stored are increasing the demand for biobanking devices market.

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By sample type, the Biobanking Market is classified into blood products, human tissues, cell lines, nucleic acids, human waste products, and biological fluids. Since blood and blood products are the most collected specimens and are used as a source of DNA and RNA, this segment type holds the largest share of the biobanking devices market.

On the basis of applications, the market is segmented into regenerative medicine, life science research, and clinical research. Regenerative Medicine is expected to account for the largest share of the market based on applications. Growing research in regenerative medicine and the increasing demand for well-characterized and quality biosamples for research are prime reasons for the growth of this market segment.

Global Geographical Analysis for Biobanking Market:

The Global market is dominated by North America, followed by Europe. North America will continue to dominate the global market in the forecast period. However, Asia-Pacific is expected to witness the highest CAGR, with the growth in this market centered at Japan, China, and India. Improving life sciences research infrastructure in emerging economies and growing government investment in biomedical, pharmaceutical, and biotechnology industries are some of the factors propelling market growth in the Asia-Pacific region.

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The Major Factors Driving the Growth of Biobanking Market:

·         Increase in Genomic Research Activities for Studying Diseases

·         Advances in Biobanking and Growing Trend of Conserving Cord Blood Stem Cells of Newborns

·         Government and Private Funding to Support Regenerative Medicine Research

·         Growing Need for Cost-Effective Drug Discovery and Development

Major Key Players in Global Biobanking Market:

Key players in the market includes Hamilton Company (U.S.), Thermo Fisher Scientific Inc. (U.S.), Brooks Automation (U.S.), and Panasonic Healthcare Holdings Co. Ltd (Japan) have been identified as the top players in this market. These companies have a broad product portfolio with comprehensive features and have also launched innovative products. These leaders also have products for all end users in this market, a strong geographical presence, and they focus on continuous product innovations.