The Future of Medical Automation….. COVID-19 & Its Impact….


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.
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.
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.
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Further key findings from the study suggest:
·         The therapeutic segment was observed to dominate in terms of revenue share in 2015owing to the high usage rate of automated devices in the non-surgical procedures, such as external defibrillators, an implantable cardioverter, and wearable/ implantable drug pumps 
·         On the other hand, the medical logistics and training segment is expected to grow at a lucrative CAGR of over 10.0%. The rising adoption of advanced systems, such as Pneumatic Tube Systems (PTS) used in material transportation and Real Time Location System (RTLS) in location-tracking, contributes towards the overall medical automation market growth during the forecast period. 
·         The research laboratories and institutes segment is also identified as a lucrative segment due to, the rising demand for automated research laboratories that are helpful in the detection and the treatment of chronic diseases. These laboratory automated systems help in reducing demand and supply gaps by mechanization, which yields rapid results and increases overall productivity. This is expected to further enhance its usage over the forecast period. 
·         With an aim to address the increasing demand for advanced molecular diagnostic techniques in cancer, the Leiden University Medical Center have recently succeeded in isolating DNA and RNA from small tissue samples using a high-throughput, fully automated solution by Siemens. Innovations like these are expected to present the market with significant growth opportunities. 
·         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. 
·         These industry players are adopting strategies such as technological innovation, new product launches, and strategic collaborations including mergers and acquisitions to capitalize untapped opportunities. For instance, in July 2015, Medtronic Plc. acquired RF Surgical Systems, Inc., for further expansion of its business and with the aim of capturing a huge market share of the medical automation market in the coming years. 
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 the market growth.
According to the World Health Organization (WHO) with chronic diseases being one of the leading factors of mortality in 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 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 radio surgery systems and automated material handling systems used in the hospitals are the factors expected to drive the market growth.
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Grand View Research has segmented the medical automation market on the basis of application, end-use: 
Global Medical Automation Application Outlook (Revenue, USD Million, 2014 - 2024)
·         Diagnostic & Monitoring Automation
o    Automated imaging & analysis
o    Point-of-care testing
·         Therapeutic Automation
o    Surgical Automation
o    Non-surgical Automation
·         Lab and Pharmacy Automation
o    Laboratory Automation
o    Pharmacy Automation
·         Medical Logistics and Training
Global Medical Automation End-use Outlook (Revenue, USD Million, 2014 - 2024)
·         Hospitals & Diagnostic Centers
·         Research Laboratories & Institutes
·         Pharmacies
·         Home & Ambulatory Care
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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