Medical Automation Market Growth and Forecast, 2014 - 2024

A substantial revenue share of over 43.0% was held by North America in 2015 as a consequence of increasing healthcare expenditure by government healthcare and life science sectors to promote research. Europe held the second largest market share owing to demographic shift in geriatric patient base, possessing greater susceptibility to chronic disorders thereby pushing demand for automated point-of-care testing.

Additionally, presence of various government organizations including Medicine and Healthcare Products Regulatory Agency which validates automated systems in pharmacies and devices with the regulations of the region is predicted to provide growth opportunities in the coming years. Asia Pacific is anticipated to witness attractive growth opportunities during the forecast period owing to the frequent upgradation in healthcare infrastructure, growing patient awareness levels and prevalence of cardiovascular diseases, orthopedic disorders, cancer and diabetes.

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Competitive Insights

The prominent players include Danaher Corporation, Koninklijke Philips N.V., Siemens AG, Stryker Corporation, Intuitive Surgical Inc., GE Healthcare, Swisslog Holding AG, Medtronic Plc., Tecan Group Ltd., Accuray Inc. Competition in the industry is high as a consequence of prominent players undertaking strategic initiatives such as acquisitions, technological advancements, new product launch and collaborations. For instance, Tecan acquired Sias AG in November 2015, to expand the business for providing mechanization solution for laboratory.

Moreover, the competitive nature of the industry is also a result of high amount of investments in R&D, contracts and distributive agreements, which are anticipated to keep industry rivalry high throughout the forecast period. For instance, Accuray Inc. and medPhoton GmbH entered in collaboration in May 2016, to strengthen their sales and distribution network.

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