The global medical automation market is estimated to achieve an amazing USD 44.45 billion in 2022, with a compound annual growth rate (CAGR) of 10.6% from 2023 to 2033.
The key reasons driving market expansion are the increased prevalence of chronic diseases such as cancer, diabetes, and others, the developing pharmaceutical and biotechnology sector, and rising demand for robotic surgery, as well as rising healthcare spending. However, the high cost of automation and the risks associated with robotic surgery, combined with the need for physician training, are projected to hinder market growth. The benefits of automated systems are tied to the increasing adoption of these technologies.
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Automation of monotonous operations such as sampling, quality and quantity monitoring, packaging and labelling, and scanning of medications and devices, for example, has condensed human efforts and boosted speed and accuracy, leading to growing reliance on these automated technologies. Furthermore, the increased global prevalence of chronic illnesses such as diabetes, cancer, arthritis, and chronic obstructive pulmonary disease (COPD) is driving demand for faster and more productive therapeutic, laboratory, and pharmacy-automated pharmaceutical systems.
Key Takeaways-
- North America dominated the healthcare automation market in 2021, accounting for the largest market share.
- The therapeutic automation sector has the greatest market share in the worldwide market and is likely to maintain its dominance during the forecast period.
- The Research Institution segment has the greatest market share in the global market based on end users.
- North America has the greatest market share (41% in the global healthcare automation industry) by region.
- Nonetheless, Asia-Pacific is expected to be the fastest-growing medical automation industry.
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Competitive Landscape-
The major players in the medical automation market are-
- Accuray, Inc.
- Tecan Group Ltd.
- Medtronic Plc.
- Swisslog Holding AG
- GE Healthcare
- Intuitive Surgical, Inc.
- Stryker Corporation
- Siemens AG
- Koninklijke Philips N.V.
- Danaher Corporation
- Zimmer Biomet
Recent Developments-
- In Jan 2022, medical technology industry Becton, Dickinson, and Company declared acquisition with Parata systems for more than $1.5 billion. Parata systems offer automation products for pharmacies like inventory management software, the high-speed robotic process for medical automation, robotic dispensers, workflow solutions, and adherence packaging tools. The Becton, Dickinson company’s acquisition purpose is to operate pharmacies for people’s healthier lives.
- In 2021, Siemens Healthineers AG acquired Varian Medical Systems, Inc. This is a German medical device company that allows the earlier to increase access to the latter’s comprehensive portfolio as well as strengthen its position in the MedTech sector.
- In 2021, Philips acquisition with Capsule Technologies, Inc. They are providers of medical device integration and data technologies for hospitals and healthcare organizations. The purpose is to enlarge Philips’s leadership in patient care management solutions. Capsule Technologies, Inc is providing medical device Information platforms such as device integration, clinical surveillance services, and vital signs monitoring. Philips’s strategy is to transform the delivery of healthcare in the health field with integrated solutions. It helps to connect almost all medical devices as well as EMRs in hospitals.
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Key Segments Profiled in the Medical automation market Survey
By Application:
- Imaging
- therapeutic
- laboratory and pharmacy
- medical software
- Informatics
- logistics
By end use:
- Hospital and diagnostic center
- Research laboratories & institutes
- Pharmacies
- Others
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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