Medical Automation Technologies, Products and Markets
The U.S. market for medical automation technologies was worth an estimated $13 billion in 2010. BCC expects this market to grow to $13.3 billion in 2011 and $21 billion by 2016, a compound annual growth rate (CAGR) of 9.5% over the next 5 years.
SCOPE AND FORMAT
As indicated above, medical automation is closely related to healthcare IT, which is the subject of a companion BCC report, HLC048C Healthcare Information Technology. However, for the purposes of this report, medical automation technologies are defined as technologies for the electromechanical control or operation of diagnostic or therapeutic processes or systems or training of healthcare professionals, which result in a reduced need or eliminate the need for human intervention. Examples of such medical automation technologies are listed:
- Automated health assessment and monitoring technologies
- Automated medical imaging and image analysis
- Automated prescription fulfillment devices
- Automated therapeutic (nonsurgical) devices
- Robotic and computer-assisted surgical equipment
- Automated laboratory testing and analysis
- Automated healthcare logistics, resource, and patient tracking
- Automated medical training
The study format includes the following major elements:
- Executive summary
- Medical automation technologies and applications
- Enabling technologies
- End user segments
- Market environment (legal and regulatory, standards, economic conditions, consumer attitudes)
- Baseline (2010) and projected market for medical automation technologies and products through 2016
The author of this report is Andrew McWilliams. Mr. McWilliams, a partner in the Boston-based international technology and marketing consulting firm of 43rd Parallel LLC, is the author of several other BCC Research studies relating to healthcare automation, including the previous edition of this report (HLC048B Healthcare Information Technology); HLC016D Microelectronic Medical Implants: Products, Technologies & Opportunities, HLC036C Medical Robotics and Computer-Assisted Surgery, HLC051F The Market for Minimally Invasive Medical Devices, HLC038C Patient Monitoring, HLC054B Home Medical Equipment: Technologies and Global Markets, and HLC014D Telemedicine: Opportunities for Medical and Electronic Providers.
- The U.S. market for medical automation technologies was worth an estimated $12 billion in 2008. This market is projected to grow to $13.1 billion in 2009 and to $23.2 billion by 2014, a compound annual growth rate (CAGR) of 12.2% over the next 5 years.
- Therapeutic applications account for the largest share of the medical automation market, with 73% in 2008, declining slightly to 72% by 2014.
- Diagnostic and monitoring applications represent about a quarter of the market, with $3 billion in sales in 2008. That is expected to rise to $3.3 billion in 2009 and to nearly $5.9 billion in 2014, for a CAGR of 12.4%.