2016 News Plus Research: Medical Automation Market Detailed Analysis and Forecast by 2024

The top trends that are shaping the global medical automation market are affordable automation software and systems that make everyday tasks easier.


Albany, NY -- (SBWIRE) -- 12/19/2016 -- In a highly competitive pharmaceutical industry, automation can prove to be a massive operational advantage and a key differentiator for players of all sizes. The future of the healthcare industry is increasingly being defined by the advent of faster, more accurate, and easy-to-use devices that are riding high on the wave of medical automation. With a massive number of people crossing the 60-year threshold, the healthcare industry is facing a pressing need to scale up resources and brace for a spike in healthcare needs. This is where automation is expected to be the real game changer.

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There are several market dynamics that are collectively creating a need for more automation in the medical industry. According to an article published in Health Affairs, there will be a shortage of 260,000 registered nurses by 2025 in the U.S. The scenario won't be drastically different in other developed countries where the workforce is aging rapidly. With fewer humans available to carry out all of the tasks in the healthcare industry, healthcare institutions and pharmaceutical companies are focusing on automation to get redundant and repetitive tasks done. However, as has been the case with several other industries, automation is regarded as a job killer and has been opposed in several countries worldwide.

These push and pull factors will decide how this market shapes up in the coming years. This is what the report aims to assess. The report creates segments of the global medical automation market based on criteria such as applications, end-users, and geography.

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Global Medical Automation Market: Drivers and Restraints

Companies and medical institutions are channeling more funds into medical automation systems and software enticed by benefits such as cost containment, increased speed, greater transparency in processing, and reduction in errors. This thus lays a strong foundation for the growth of the global medical automation market. Another change that is driving the adoption of medical automation is the high degree of interest in point-of-care testing devices for pregnancy, blood glucose levels, blood pressure, and HIV.

On the flip side, the lack of widespread standardization and a heterogeneous regulatory environment will create several obstacles for companies operating in the medical automation market. Moreover, not all healthcare institutions can afford medical automation. It will be a few years before developing countries wholly embrace this trend.

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The top trends that are shaping the global medical automation market are affordable automation software and systems that make everyday tasks easier. There is a massive market that hitherto remains untapped in emerging countries, where the healthcare sector is heaving under the burden of obsolete machinery and techniques. This gap could provide a window of opportunity for companies offering medical automation software and solutions.

Global Medical Automation Market: Drivers and Restraints

The global market for medical automation can be segmented broadly based on the following fronts: End user, application, and geography. The key application areas of medical automation are therapeutic automation, lab automation, pharmacy automation, and medical automation. The segment of medical automation is composed of automated imaging and analysis and point of care testing market. The market for therapeutic automation can similarly be split into surgical and non-surgical automation. Each of these sub-segments can be further segmented based on the automation devices.