The global medical automation market was valued at USD 34.21 billion in 2015. The rising prevalence of chronic diseases and the increasing adoption of automated equipment for diagnosis and therapy are the factors propelling market growth.
North America medical automation market share, by application, 2014-2024 (USD Million)
According to the World Health Organization (WHO) with chronic diseases being one of the leading factors of mortality in the world, chronic conditions such as cancer, stroke, heart disease, diabetes, and respiratory diseases cause approximately 60% of the deaths. Moreover, as per NCBI by 2030, approximately 40.5% of the U.S. population is projected to face one or more cardiovascular diseases, thereby enlarging the consumer base for this market.
The growth over the forecast period is attributed to the growing demand for accuracy and reproducibility during medical procedures offered by CyberKnife series and the automated defibrillators for the treatment of cancer. In addition, the rising automation in laboratories and pharmacies provide benefits such as cost savings, miniaturization of errors in huge sampling, speed, and reliability, which is expected to exert a positive impact on the future demands for medical automation over the forecast period.
Moreover, technological advancements such as robotic radiosurgery systems and automated material handling systems used in the hospitals are the factors expected to drive the market growth.
Therapeutic automation held the largest share of over 35.0% of the application segment in 2015. This dominance is attributed to the increasing usage of automated devices, such as orthopedic navigation systems, portable imaging devices, automated microscopes, surgical robots, defibrillators, and therapeutic dispensing systems.
The increasing demand for minimally invasive surgeries is further increasing the uptake of robotic surgery systems, which is expected to boost the overall medical automation market in the near future. The benefits offered by these systems include improved patient safety, increased efficiency of the procedures, and they serve as standard emergency care; these advantages are estimated to influence the penetration of automated systems in the near future.
Hospitals & diagnostic centers dominated the end-use segment in 2015 with a market share of over 25.0% owing to the rising adoption of automated devices in diagnostics, treatment, and in laboratories & pharmacies.
Automation in the hospitals and pharmacy segment, especially in tier 2 and tier 3 cities of the emerging economies of Asia Pacific, such as India, is spearheading the growth of this industry. For instance, in India, hospitals such as Apollo and Fortis are striving to provide automated healthcare services that are operational in tier 2 and tier 3 cities.
Furthermore, the presence of government agencies such as the National Patient Safety Agency to improve the incorporation of medical automation in hospital settings is anticipated to account for the increasing adoption of automation in healthcare services in the coming years.
North America held a substantial revenue share of the overall medical automation market in 2015 at over43.0%. This can be attributed to the rising government healthcare expenditure in the life sciences & healthcare sectors along with the ongoing clinical research activities in this region.
North America is followed by Europe in capturing a large market share owing to the rising geriatric population base prone to chronic diseases in this region thereby pushing the demand for point-of-care (PoC) testing.
In addition, the presence of government organizations, such as the Medicines and Healthcare Products Regulatory Agency is instrumental in validating pharmacy automated systems and other devices with European regulations, which is expected to provide this regional market with growth opportunities in the near future.
The Asia Pacific region is expected to witness lucrative growth opportunities in the future due to the rapidly improving healthcare infrastructure, the rising awareness amongst patients, and the soaring incidences of diabetes, cancer, orthopedic, and cardiovascular diseases (CVDs).
Some key players in this industry include Accuray, Inc., Tecan Group Ltd., Medtronic Plc., Swisslog Holding AG, GE Healthcare, Intuitive Surgical, Inc., Stryker Corporation, Siemens AG, Koninklijke Philips N.V., and Danaher Corporation.
The industry is highly competitive in nature and the market players are involved in strategic activities, such as collaborations, new product launches, technological advancements, and acquisitions. For example, in November 2015, Tecan completed the acquisition of Sias AG with an aim to expand its partnering business in providing complete lab mechanization solutions.
In addition, the presence of a competitive environment facilitates high R&D investments, distributive agreements, and contracts that are expected to keep the industry rivalry at par over the forecast period. For instance, in May 2016, Accuray, Inc., entered into a collaborative agreement with medPhoton GmbH in an attempt to strengthen its distribution and sales network.
Report Attribute |
Details |
Market size value in 2020 |
USD 54.02 billion |
Revenue forecast in 2024 |
USD 79.4 billion |
Growth Rate |
CAGR of 9.9% from 2016 to 2024 |
Base year for estimation |
2015 |
Historical data |
2013 - 2015 |
Forecast period |
2016 - 2024 |
Quantitative units |
Revenue in USD million and CAGR from 2016 to 2024 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Application, end use, region |
Regional scope |
North America; Europe; APAC; Latin America; MEA |
Country scope |
U.S.; Canada; U.K.; Germany; Japan; China; India; Brazil; Mexico; South Africa |
Key companies profiled |
Accuray, Inc.; Tecan Group Ltd.; Medtronic Plc.; Swisslog Holding AG; GE Healthcare; Intuitive Surgical, Inc.; Stryker Corporation; Siemens AG; Koninklijke Philips N.V.; Danaher Corporation |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
b. The global medical automation market size was estimated at USD 49.19 billion in 2019 and is expected to reach USD 54.02 billion in 2020.
b. The global medical automation market is expected to grow at a compound annual growth rate of 9.9% from 2016 to 2024 to reach 79.4 USD billion by 2024.
b. North America dominated the medical automation market with a share of 43.47% in 2019. This is attributable to the rising government healthcare expenditure in the life sciences & healthcare sectors along with the ongoing clinical research activities in this region.
b. Some key players operating in the medical automation market include Accuray, Inc., Tecan Group Ltd., Medtronic Plc., Swisslog Holding AG, GE Healthcare, Intuitive Surgical, Inc., Stryker Corporation, Siemens AG, Koninklijke Philips N.V., and Danaher Corporation.
b. Key factors that are driving the market growth include rising prevalence of chronic diseases and the increasing adoption of automated equipment for diagnosis and therapy are the factors propelling the market growth.
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.