Medical Automation Market to be Worth $79.4 Billion by 2024: Grand View Research, Inc.

SAN FRANCISCO, June 23, 2016 /PRNewswire/ —

The global medical automation market is expected to reach USD 79.4 billion by 2024, according to a new report by Grand View Research, Inc. The increasing demand for accuracy and reproducibility required during medical procedures is the high impact rendering driver for the medical automation market. 

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The rising adoption of these devices is attributed to the advantages associated with automated systems. For example, the automation of tedious tasks such as sampling, monitoring of quality, quantity, packaging and labeling, and scanning of medicines and devices, have reduced human efforts and increased speed and accuracy, which has led to increased dependency on these automated systems. 

Moreover, the growing global prevalence of chronic conditions such as diabetes, cancer, arthritis, and chronic obstructive pulmonary disease (COPD) is further pushing the demand for therapeutic, laboratory and pharmacy automated medication systems, which are faster and more productive. As per the World Health Organization (WHO) estimates, cardiovascular diseases (CVDs) is the leading cause of mortality around the globe; in addition, an exponential rise has been witnessed in the diabetes cases from 108 million in 1980 to 422 million in 2014. The aforementioned factors are responsible for creating the need for automated medical equipments over the forecast period. 

Furthermore, with the advent of technologically advanced defibrillators and ablation therapies, this market is expected to gain swift growth in its market share in the near future. For instance, automation in the following pharmacy-based functions, medication dispensing, storage, and retrieval enables traceability and tracking, which in turn improves patient safety and reduces errors. Furthermore, there is an increased focus on incorporating automation in hospitals due to the associated benefits, such as reduction of errors and operational costs; these factors altogether are expected to present this market with high growth opportunities in the near future.

Browse full research report with TOC on Medical Automation Market Analysis By Application (Diagnostic And Monitoring Automation, Automated Imaging & Analysis, Point-of-care Testing, Therapeutic Automation, Surgical, Non-surgical, Lab & Pharmacy Automation, Laboratory, Pharmacy, Medical Logistics & Training) By End-use (Hospitals & Diagnostic Centers, Research Laboratories & Institutes, Pharmacies, Home & Ambulatory Care) And Segment Forecasts To 2024 at:  

Further key findings from the study suggest: 

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Grand View Research has segmented the medical automation market on the basis of application, end-use, and region: 

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About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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Grand View Research, Inc
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