AI and IoT Revolutionize Healthcare Automation:
The global healthcare automation market, valued at US$ 36.9 Bn in 2020, is set for robust growth, projected to reach US$ 88.9 Bn by 2028. Analysts highlight the pivotal role of artificial intelligence (AI), Internet of Things (IoT), and machine learning (ML) in transforming the healthcare landscape post-COVID-19. With a decline in pandemic pressures, stakeholders are bullish on investments, especially in deep learning, to revolutionize the hospital-at-home model, reducing traditional hospitalization costs. The emergence of the Digital India Movement and similar initiatives globally signifies a monumental shift in healthcare infrastructure, emphasizing the need for collaboration between healthcare automation companies and governments to enhance technological advancements.
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Research Institutes Lead Revenue Generation:
Healthcare automation is proving instrumental in streamlining processes for research institutes and labs, becoming the highest revenue-generating segment. The adoption of high-tech solutions in hospital pharmacy automation, logistics, and material handling applications is enhancing work efficiency and improving overall productivity. The market is expected to gather lucrative avenues from this segment as automation continues to leverage productivity, enhance data quality, and reduce lab process cycle times. The increasing adoption of AI and IoT technologies is further enhancing the capabilities of research institutes in therapeutic and diagnostic applications, contributing to the positive market outlook.