Report: Medical automation technologies market to reach $23B by 2014

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The U.S. market for medical automation technologies is worth about $13.1 billion in 2009, and is expected to reach $23.2 billion in 2014, demonstrating a compound annual growth rate (CAGR) of 12.2 percent, according to a market research report from BCC Research.

The report defined medical automation technologies 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 need at all. Examples of such technologies include health monitoring kiosks, automated x-rays and surgical robots.

Major end-user segments for automated medical technologies include hospitals, stand-alone outpatient surgical centers, physician practices, pharmacies and other retail establishments, home-care recipients, the military, medical research institutes, clinical labs, medical schools and other training programs, the firm said.

The firm said it broke the market down into segments for therapy, diagnostic and monitoring, and logistics and training. The therapy segment currently has the largest share of the market, worth an estimated $9.5 billion in 2009, which the report predicted will increase at a CAGR of 11.9 percent to $16.7 billion in 2014.

The diagnostic and monitoring segment has the second largest share of the market, worth an estimated $3.3 billion in 2009. BCC estimated that the segment is expected to generate nearly $5.9 billion in 2014, for a CAGR of 12.4 percent.

Lastly, the logistic and training market is expected to be worth $272 million in 2009, and to increase to nearly $652 million in 2014, for a CAGR of 19.1 percent.