Medical Automation Market worth $66,920.5 Million by 2018

Tuesday 14 January 2014, Amsterdam

This report studies the global medical automation market over the forecast period of 2013 to 2018. This market is valued at an estimated $43,213.6 million in 2013 and is poised to grow at a CAGR of 9.1% from 2013 to 2018, to reach $66,920.5 million by 2018.

Automated monitoring devices help in reducing the rising healthcare costs, which is the major factor driving the growth of this market. Furthermore, growth in the use of point of care testing devices such as glucose meters, digital blood pressure monitors, pregnancy test kits, and HIV test kits is another factor that is propelling the growth of this market. The rise in labor costs, especially in the Asian region, is a major reason for the high growth of this market. Based on application, the diagnostics and monitoring automation market holds the largest share of 50% in 2013. However, the medical logistics and training automation market is poised to grow at the highest CAGR from 2013 to 2018.

Based on geography, the global medical automation market is segmented into North America, Europe, Asia, and Rest of the World (RoW). North America accounts for the largest share in the medical automation market; the large share of the North American region is attributed to the increase in government spending in the form of grants and funds, investments by venture capitalists, and collaborations among key players in the market.

The major players in the medical automation market include GE Healthcare (U.K), Philips Healthcare (the Netherlands), Siemens Healthcare (Germany), Tecan Group Ltd. (Switzerland), Stanley Black and Decker, Inc. (U.S.), Intuitive Surgical, Inc. (U.S.), CAE Ltd. (Canada), Brainlab AG (Germany), Given Imaging Ltd. (Israel), Medtronic, Inc. (U.S.), Asahi Kasei Corp. (Japan), CareFusion Corp. (U.S.), Roche Holding AG (Switzerland), St. Jude Medical, Inc. (U.S.), Lifescan, Inc. (U.S.), Swisslog Holdings AG (Switzerland), Omnicell, Inc. (U.S.), Omron Corp. (Japan), and Carl Zeiss Group (Germany), among others.