Abstract
REPORT HIGHLIGHTS
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%.
INTRODUCTION
STUDY BACKGROUND
The U.S. government and healthcare industry have embarked on a major effort to
increase the efficiency of healthcare, with the twin objectives of containing
costs and improving the quality of care. Information technology has been at
the forefront of this effort; indeed, BCC Research recently completed a study
of healthcare IT technologies, products, and market opportunities (Report
HLC048B).
However, healthcare IT is just one segment of the broader field of medical
automation, a field that many experts believe will revolutionize the way
medical care is provided. Automated delivery of healthcare can contain costs,
reduce errors, and improve outcomes.
Major improvements in production efficiency and product quality have been
demonstrated through automation in factories. Medical automation will borrow
many of the principles developed in factory automation and apply them to the
medical environment. Automation will have to demonstrate, however, that it is
safe for patients, has more flexibility to accommodate the complex tasks
within the hospital, and can generate a reasonable return on investment.
GOALS AND OBJECTIVES
The overall goal of this study is to identify and quantify the market
opportunities associated with medical automation. In support of this goal,
specific objectives of this report include:
- Identifying the medical automation technologies with the greatest
commercial potential over the next 5 years (2009 to 2014)
- Estimating the market for these technologies in 2007 to 2008
- Analyzing the technical, economic and other demand drivers for these
products, and other prerequisites of success in these markets
- Projecting the potential U.S. markets for these technologies through 2014.
INTENDED AUDIENCE
The report is intended especially for healthcare automation suppliers, as well
as government agencies, healthcare policy analysts and others seeking to
understand the cost and preconditions for success of healthcare automation
initiatives. Although the report is structured around specific technologies,
it is largely nontechnical in nature. That is, it is concerned less with
theory and jargon than with what works, how much of the latter the market is
likely to purchase, and at what price.
As such, the report' s main audience is executive management, marketing and
financial analysts. It is not written specifically for scientists and
technologists, although its findings concerned the markets for their work,
including the availability of government and corporate research funding for
different technologies, and applications should interest them as well.
SCOPE OF REPORT
As indicated above, medical automation is closely related to healthcare IT,
which is the subject of a companion BCC report, 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 for human
intervention, or no such need at all. Examples of such medical automation
technologies include the following:
- 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
- Definitions
- Medical automation technologies and applications
- Enabling technologies
- End-user segments
- Market environment (legal and regulatory, standards, economic conditions,
consumer attitudes)
- Current (2007 and 2008) and projected market for medical automation
technologies and products through 2014
METHODOLOGY
The findings and conclusions of this report are based on information gathered
from developers, suppliers, integrators and users of medical automation
technologies. Interview data were combined with information gathered through
an extensive review of secondary sources, such as trade publications, trade
associations, company literature, and online databases to produce the baseline
market estimates contained in this report.
The base year for analysis and projection is 2008. With 2008 as a baseline,
market projections were developed for 2009 to 2014. These projections are
based on a combination of a consensus among the primary contacts combined with
our understanding of the key market drivers and their impact from a historical
and analytical perspective. The analytical methodologies used to generate the
market estimates are described in detail in the section on detailed market
projections.
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