Europe Medical Automation Market, By Component (Equipment, Software, Services), Type (Automated Prescription Formulation and Dispensing, Automated Health Assessment and Monitoring, Automated Imaging and Image Analysis, Automated Healthcare Logistics, Resource and Personnel Tracking, Medical Robotics and Computer-Assisted Surgical Devices, Automated Therapeutic (Nonsurgical) Procedures and Automated Laboratory Testing and Analysis), Application (Diagnostics & Monitoring, Therapeutics, Lab & Pharmacy Automation, Medical Logistics & Training and Others), Connectivity (Wired and Wireless), End User (Hospitals, Diagnostic Center, Pharmacies, Research Labs & Institutes, Homecare, Specialty Clinics, Ambulatory Surgical Centers (ASCS), Others), Distribution Channel (Direct Tender, Retail Sales, Online Sales and Others), Country (Germany, France, Spain, Italy, Netherlands, Switzerland, Russia, Turkey, Poland, Hungary, Lithuania, Austria, Ireland, Norway and Rest of Europe) Industry Trends and Forecast to 2028
Market Analysis and Insights: Europe Medical Automation Market
The medical automation market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 9.1% in the forecast period of 2021 to 2028. Growing number of surgical procedures and pandemic outbreak of COVID-19 is anticipated to drive the growth of the medical automation market.
Medical automation comprises the technology used to decrease medical errors, promote better management of various chronic illnesses along with enabling healthcare professionals to forestall prognosis. Medical automation controls the monitoring, diagnostic and therapeutic machinery which aids the healthcare professionals in the major responsive tasks in various healthcare facilities.
The advancement in technologies brings many advantages towards the patient’s treatment program with improvement in clinical efficiency and increased patient safety, thus the technological advancement and development anticipated to bolster the medical automation market growth in the forecast period. The increasing side effects of medical automation is acting as a restraint and hampering the demand of the medical automation market. The growing support by healthcare organizations and government bodies, significantly influencing the demand for medical automation, thus it is estimated that increase in the growing support by healthcare organizations and government bodies for prevention of diseases acts as an opportunity for the medical automation market growth in the forecast period. Growing number of recalls by major and niche market players across the world anticipated to challenge the demand of the medical automation market growth.
The medical automation market provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the medical automation market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Medical Automation Market Scope and Market Size
The medical automation market is categorized into six notable segments which are based on the component, type, application, connectivity, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the medical automation market is segmented into equipment, software and services. In 2021, equipment segment is expected to dominate due to growing number of hospitals, which are significantly affecting on further growing demand of equipment.
- On the basis of type, the medical automation market is segmented into automated prescription formulation and dispensing, automated health assessment and monitoring, automated imaging and image analysis, automated healthcare logistics, resource and personnel tracking, medical robotics and computer-assisted surgical devices, automated therapeutic (nonsurgical) procedures and automated laboratory testing and analysis. In 2021, automated therapeutic (nonsurgical) procedures segment is dominating because of the rising number of diabetics as well as cardiac patients requiring automated therapeutic devices such as insulin pumps and defibrillators for their treatment.
- On the basis of application, the medical automation market is segmented into diagnostics & monitoring, therapeutics, lab & pharmacy automation, medical logistics & training and others. In 2021, therapeutics segment is dominating because of the increased demand of therapeutics interventions due to the surging cases of chronic diseases and advancement in technologies.
- On the basis of connectivity, the medical automation market is segmented into wired and wireless. In 2021, wired segment is expected to dominate because of the availability of broad product range in the segment.
- On the basis of end user, the medical automation market is segmented into hospitals, diagnostic center, pharmacies, research labs & institutes, homecare, specialty clinics, ambulatory surgical centers (ASCs) and others. In 2021, hospitals segment is dominating as it is the prime location visited by patients for diagnosis and treatment of any chronic disease or emergency case.
- On the basis of distribution channel, the medical automation market is segmented into direct tender, retail sales, online sales and others. In 2021, direct tender segment is dominating due to growing demand from hospitals and laboratories.
Medical Automation Market Country Level Analysis
The medical automation market is analysed and market size information is provided by the country, component, type, application, connectivity, end user and distribution channel as referenced above.
The countries covered in the Europe medical automation market report are Germany, France, Spain, Italy, Netherlands, Switzerland, Russia, Turkey, Poland, Hungary, Lithuania, Austria, Ireland, Norway and Rest of Europe
Germany is dominating in Europe medical automation market due to the pandemic outbreak of COVID-19 and escalation in innovation and technologies in the country.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
New Product Launches by Manufacturers is Creating New Opportunities for Players in the Medical Automation Market
The medical automation market also provides you with detailed market analysis for every country growth in aesthetic industry with medical automation market sales, impact of advancement in the medical automation market and changes in regulatory scenarios with their support for the medical automation market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Medical Automation Market Share Analysis
The medical automation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to medical automation market.
Some of the major players operating in Europe medical automation market are Brainlab AG, eScreen (a subsidiary of Abbott), QMeds Inc., HollySys Asia Pacific Pte Ltd., SP Automation & Robotics, Asahi Kasei Medical Co., Ltd. (a subsidiary of Asahi Kasei Corporation), Asteres Inc., ARxIUM, MedAvail Technologies, Inc., Stereotaxis, Inc., Parata Systems, LLC, 3M, Accuray Incorporated, Intuitive Surgical, Medtronic, Stryker, Cardinal Health, Omnicell, Inc., STANLEY Healthcare, Leica Biosystems Nussloch GmbH (a subsidiary of Danaher), McKesson Corporation, BD, Baxter, iCAD Inc., Tecan Trading AG, Siemens Healthcare GmbH, Koninklijke Philips N.V., GE Healthcare and Johnson & Johnson Services, Inc. among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launches and agreements are also initiated by the companies’ worldwide which are also accelerating the medical automation market.
For instance,
- In December 2020, Siemens Healthcare GmbH conducted AACC Annual Scientific Meeting and clinical lab Expo which happens to be on virtual mode for the first time in history. The expo had presented highly automated solutions that could offer to minimize contact and thereby increase lab efficiency and safety. This event will help the company to get more customers and gain market value.
Collaboration, joint ventures and other strategies by the market players is enhancing the company market in the medical automation market which also provides the benefit for organisation to improve their offering for medical automation.
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