“The global medical automation market is estimated to grow at a CAGR of 9.5% from 2015 to 2020. Although North America holds a larger share in the medical automation market in 2015, the Asia-Pacific region is poised to grow at the highest CAGR in the next five years. High growth in this regional segment is majorly attributed to the increasing geriatric population along with rising incidence and prevalence of CVDs, diabetes, cancer, and orthopedic diseases; rising number of clinical research activities; and growing government expenditure on healthcare and life sciences research. In addition, increasing business operations by key players in developing Asian countries are further supporting the growth of this market.
The growth of the overall medical automation market is driven by factors such as growing need for reproducibility and accuracy during medical procedures, rising labor costs, technological advancements in automation solutions, and rising government financial support for life science research. In addition, investments by venture capitalists and collaborations to promote automated medical devices, and high potential of medical automation for the early detection and treatment of cancer are offering new growth opportunities for players in the medical automation market. On the other hand, stringency of the regulatory approval procedure and high cost of automation are the key challenges faced by the market players.
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TABLE OF CONTENTS
1 INTRODUCTION 17
1.1 OBJECTIVES OF THE STUDY 17
1.2 MARKET DEFINITION 17
1.3 MARKET SCOPE 18
1.3.1 MARKETS COVERED 18
1.3.2 YEARS CONSIDERED FOR THE STUDY 20
1.4 CURRENCY 20
1.5 LIMITATIONS 20
1.6 STAKEHOLDERS 21
2 RESEARCH METHODOLOGY 22
2.1 RESEARCH DATA 22
2.1.1...