LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global automation control market in the medical devices industry to grow at a CAGR of close to 6% during the period 2018-2022, according to their latest report.
One of the prominent trends being witnessed in the market is the shift from on-premises to cloud-based systems. The medical device manufacturers are becoming more aware of the emergence of the concept of service-based technology architecture. Automation providers and medical device manufacturers can reduce the costs substantially, achieve greater flexibility, and improve functionality by shifting to a cloud-based environment. SMEs operating in medical device industries face budget constraints, which make it difficult to afford the initial investment required for automation control systems such as the MESs and DCSs. Thus, new entrants face severe financial challenges to employ automated systems, dedicated technical staff, and specialized personnel for complicated rollouts, updates, and operation of servers.
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In this report, Technavio analysts highlight the stringent regulatory requirements for product development documentation process as a key factor contributing to the growth of the global automation control market in the medical devices industry:
Stringent regulatory requirements for product development documentation process
The medical devices industry is highly regulated. It requires internal and external environment as well as product development procedures to support regulatory mandates. As medical equipment is manufactured for the wellness of humans, safety becomes the key objective to safeguard health. To streamline and simplify complex regulatory reporting tasks, medical device manufacturers need a strong support system that can ease the regulatory reporting and ensure the quality of the manufacturing process.
According to a senior analyst at Technavio for automation, “Discrete manufacturing processes such as medical device manufacturing produces highly engineered and complex products with multiple sub-assembly levels and longer product cycles. As each product is distinct and manufactured as per the desired specifications by healthcare professionals, product and component tracking is indispensable. Complex products range from magnetic resonance imaging, X-ray machines, and surgical equipment. As most of the products have a diverse product configuration, they are customized as per the order.”
The shorter time-to-market, longer product lifecycle, and strict regulatory requirements are making the product development process difficult for the operator. Medical devices not manufactured as per regulatory requirements or failing to pass the test must be recalled by medical device manufacturers, thereby causing loss of revenue and brand value.
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Global automation control market in the medical devices industry – segmentation analysis
This market research report segments the global automation control market in the medical devices industry into the following products (MES, PLC, DCS, and SCADA) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the four major products, the MES segment held the largest market share in 2017, accounting for over 32% of the market. This product segment is expected to project steady growth during the forecast period.
The Americas was the leading region for the global automation control market in the medical devices industry in 2017, accounting for a market share of nearly 37%. This region is anticipated to grow steadily and dominate the market throughout the forecast period.
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