Global Medical Automation Market CAGR, Volume and Value 2020-2026
Summary – A new market study, “Medical Automation Market, By Application (Diagnostic, Therapeutic, Laboratory & Pharmacy, and Medical Logistics) and Geography (NA, EU, APAC, and RoW) – Analysis, Share, Trends, Size, & Forecast From 2016 – 2027- COVID- 19 Updated”has been featured on WiseGuyReports.
The Medical Automation market is estimated to represent a global market of USD 48.96 billion by 2019 with growth rate of 15.4%.
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Medical Automation systems involves safely assisting patients with care to avoid any injuries to patient or caregiver and equipment provides effective mobility, comfort to patients using tools such as slings, lifts, hoists, etc. which help in safe and easy patient handling experience. The concept of medical automation is increasing among the patient population as manual lifting involves risks of injuries & musculoskeletal disorders (MSDs) caused by lifting and moving patients. The aging population is expected to be another factor augmenting the overall market growth. Patients with disabilities and geriatric patients demand an extra care pre and post-surgical procedures, therefore, the demand for automated medical equipment such as power wheelchairs, hoists and slings increases, providing a strong platform for the industry growth.
Furthermore, strict regulations against the manual lifting of heavy loads in healthcare facilities support the medical automation systems market. For example, guidelines published under Health and Safety Executive, Safety Health & Welfare at Work Regulations 2007, Workplace Safety and Health Council, CDC guidelines for manual handling of material, and European Agency for Safety & Health at Work (EU-OSHA) are in favor to use automated equipment in healthcare settings. All above factors stimulate the demand for these products, driving the market growth. A major roadblock to the growth of this industry is the dearth of skilled professionals, especially in developing regions.
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COVID-19 Impact and Recovery Analysis
This is a latest Medical Automation market report, covering the current COVID-19 impact on the market. The pandemic has affected every aspect of life globally. This outbreak has brought along several changes in Medical Automation market conditions. The rapidly changing market scenario and initial and future assessment of the COVID impact is covered in the published Medical Automation report. It covers the entire study with an in-depth analysis on revenue growth and possible growth prospect in future. The report also delivers on key players along with strategic standpoint pertaining to price and promotions.
Regionally, North America captures the largest share of the global market. Introduction of innovative products coupled with rising research and development activities by key players support the market growth in this region. Additionally, increasing investment by venture capitalists coupled with rising promotional activities by government organizations for medical automation support the industry grow further. The Asia Pacific and Latin America are anticipated to grow with highest growth rate owing to the rising number of surgical procedure coupled with growing demand for automation in medical industries.
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Key Vendor Takeaway
The global industry is characterized by the presence of numerous participants which demonstrates a highly competitive and a fragmented structure. Companies such as Medtronic, GE Healthcare, Stryker, Siemens, and Philips are profiled in detail. These players are profiled based on attributes such as company overview, financial performance, and key developments. Introduction of technologically advanced equipment is considered to be a major trend in this industry which is likely to propel the revenue growth.
The market size and forecast for each segment has been provided for the period 2016 to 2027, considering 2019 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2021 to 2027 for every reported segment.
The years considered for the study are:
Historical Year – 2016 to 2018
Base Year – 2019
Estimated Year – 2020
Projected Year – 2027
The proposed reports analyse and evaluates the COVID-19 impact, and anticipated change on the future market scenario on this industry, by taking into the account the economic, political, technological, and social, parameters.
SCOPE OF THE REPORT
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The scope of this report covers the market by its major segments, which include as follows:
GLOBAL MEDICAL AUTOMATION MARKET, BY APPLICATION
Laboratory & Pharmacy
GLOBAL MEDICAL AUTOMATION MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of the World
Middle East and Africa
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