Medical Automation Market 2030 By Application (Imaging, Therapeutic, Laboratory And Pharmacy, Medical Software, Informatics, Logistics), End Use (Hospital and diagnostic center, Research laboratories & institutes, Pharmacies, Others), and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits

Industry : Healthcare | Pages : 179 Pages | Published On : Dec 2023

Medical Automation Market was valued USD 44.2 Billion in 2023 and projected to reach USD 83.0 Billion by 2030, growing at a CAGR of 8.2% during the forecast period of 2023-2030.

Major vendors in the global Medical Automation Market : Brainlab AG, Abbott, QMeds Inc., HollySys Group, SP Automation & Robotics, Asahi Kasei Medical Co., Ltd., Asteres Inc., ARxIUM, MedAvail Technologies, Inc., Stereotaxis, Inc., Parata Systems, LLC, 3M, Accuray Incorporated, Intuitive Surgical, Medtronic, Stryker, Cardinal Health, Omnicell, Inc., Leica Biosystems Nussloch GmbH, BD, Baxter, iCAD Inc., Siemens Healthcare GmbH, Koninklijke Philips N.V., GE Healthcare, Johnson & Johnson Services, Inc.  and Others.

Market Overview

Medical automation refers to the technology that helps reduce medical errors, encourages better management of many chronic illnesses, and allows medical professionals to delay prognosis. The Medical Automation Market represents a revolutionary intersection of healthcare and technological innovation, embodying the seamless integration of automated processes into various facets of the medical field. At its core, Medical Automation involves the use of advanced technologies, such as robotics, artificial intelligence, and machine learning, to streamline and enhance healthcare processes. This transformative approach seeks to improve efficiency, accuracy, and overall patient outcomes by automating tasks traditionally performed by healthcare professionals. From diagnostics and surgery to pharmacy dispensing and patient monitoring, Medical Automation is reshaping the landscape of healthcare delivery, offering a spectrum of solutions that optimize workflows, reduce human error, and contribute to the advancement of patient care.

Rising demand for surgical procedures drives the market

The increasing demand for surgical procedures is a significant driver of growth in the medical automation market. As the global population ages and the prevalence of chronic diseases rises, the need for surgical interventions is expected to continue to escalate. This trend is fueling the demand for automated medical devices that can enhance surgical precision, reduce complications, and improve patient outcomes. Surgical robots, a prominent example of medical automation, have revolutionized the field of surgery by offering minimally invasive procedures with superior accuracy, reduced recovery times, and minimized scarring. The growing adoption of surgical robots across various surgical specialties, including gynecology, urology, and cardiology, is propelling the expansion of the medical automation market.

The rising prevalence of minimally invasive surgical (MIS) techniques further contributes to the growth of the medical automation market. MIS procedures offer several advantages over traditional open surgeries, including smaller incisions, reduced pain, and faster healing. The adoption of MIS techniques is increasing due to their patient-centric benefits, and automated medical devices play a crucial role in facilitating these procedures. Furthermore, the advancements in artificial intelligence (AI) and machine learning (ML) are opening up new avenues for innovation in medical automation. AI-powered surgical robots are being developed to enhance surgical precision and decision-making, while ML algorithms are being employed to analyze patient data and provide real-time insights to surgeons. These technological advancements are expected to further drive the growth of the medical automation market.

Market Dynamics

Drivers:

  • Rising demand for surgical procedures drives the market
  • Rising chronic diseases create expansion

Opportunities:

  • Growing support for healthcare organizations
  • Increasing demand for more efficient healthcare systems

Growing support for healthcare organizations

The growing support for healthcare organizations to integrate and leverage Medical Automation technologies presents a significant opportunity for the growth of the Medical Automation market. As the healthcare landscape undergoes continuous evolution, the realization of the transformative potential that automation brings to the industry is leading to increased backing from various stakeholders. Medical Automation, involving the application of cutting-edge technologies such as robotics, artificial intelligence, and machine learning, offers a paradigm shift in healthcare delivery, aligning with the broader goals of improving patient outcomes, enhancing operational efficiency, and addressing the complexities of modern healthcare.

The market for Medical Automation is dominated by North America.

North America stands as the dominant force in the Medical Automation market, playing a pivotal role in steering the trajectory of technological advancements and market growth within the healthcare sector. The region's leadership in the Medical Automation market is evident through a combination of factors that collectively contribute to its preeminence in adopting and driving innovation in medical automation technologies. One of the key contributors to North America's dominance in the Medical Automation market is its robust technological infrastructure. The region boasts advanced healthcare systems, research institutions, and a thriving ecosystem of technology companies that actively contribute to the development and integration of automation technologies in healthcare. The synergy between cutting-edge technologies and healthcare expertise positions North America as a frontrunner in implementing and refining medical automation solutions. The U.S. in North America will dominate the market due to the rising use of the elderly population and rising demand from healthcare institutions for automated devices. Additionally, this can be attributed to the region's ongoing advancements in the medical and information technology sectors.

The Hospitals and diagnostic centers Segment is Anticipated to Hold the Largest Market Share During the Forecast Period

Based on end use the Medical Automation market is segmented into Hospital and diagnostic center, Research laboratories & institutes, Pharmacies, Others. Hospitals and diagnostic centres are the dominant end users in the medical automation market, accounting for a significant share of the global market revenue. This dominance is attributed to the comprehensive range of medical services offered by hospitals, their ability to cater to a wide spectrum of patient needs, and the growing demand for automated solutions to enhance efficiency and improve patient care. Hospitals, as the primary providers of inpatient and outpatient healthcare services, are at the forefront of adopting medical automation technologies. The integration of automated systems into hospital operations streamlines administrative tasks, reduces errors, and improves patient safety. Automated medication dispensing systems, robotic-assisted surgery, and computerized patient records are just a few examples of automation technologies widely utilized in hospitals.

Global Medical Automation Market Report Scope:

Report

Details

Market size value in 2023

USD 44.2 Billion

Market size value in 2030

USD 83.0 Billion

CAGR (2023-2030)

8.2%

Forecast Period

2023–2030

Historic Data

2019

Forecast Units

Value (USD Million/USD Billion)

Segments Covered

Application, End User and Region

Geographies Covered

North America, Europe, Asia Pacific, and RoW

Segmentations Analysis of Medical Automation Market: -

  • By Application:
    • Imaging
    • Therapeutic
    • Laboratory And Pharmacy
    • Medical Software
    • Informatics
    • Logistics
  • By end use:
    • Hospital and diagnostic center
    • Research laboratories & institutes
    • Pharmacies
    • Others
  • By Region
    • North America
      • U.S.
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
      • Chile
      • Peru
      • Rest of Latin America
    • Europe
      • Germany
      • France
      • Italy
      • Spain
      • U.K.
      • BENELUX
      • CIS & Russia
      • Nordics
      • Austria
      • Poland
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Thailand
      • Indonesia
      • Malaysia
      • Vietnam
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • South Africa
      • Nigeria
      • Egypt
      • Israel
      • Turkey
      • Rest of MEA

 Recent Developments

  • In July 2022, A medical technology company called Becton, Dickinson, and Company recently announced the acquisition of Parata Systems for $1.5 billion. Arata Systems offers workflow and conformance packaging tools, high-speed robotic dispensers, inventory management software, and more. Bedcton, Dickinson was purchased to operate pharmacies to improve people's lives.
  • In April 2021, Siemens Healthineers Gmbh acquired varian medical systems, inc. This German medical device company strengthens the former's position in the Med Tech industry while granting it greater access to the latter's extensive portfolio.

Answers to Following Key Questions:

  • What will be the Medical Automation Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers in the Medical Automation Market?
  • What are the main forces behind worldwide Medical Automation Market? Which companies dominate Medical Automation Market?
  • Which companies dominate Medical Automation Market? Which business possibilities, dangers, and tactics did they embrace in the market?
  • What are the global Insight Engines industry's suppliers' opportunities and dangers in Medical Automation Market?
  • What is the Insight Engines industry's regional sales, income, and pricing analysis? In the Medical Automation Market, who are the distributors, traders, and resellers?
  • What are the main geographic areas for various trades that are anticipated to have astounding expansion over the Medical Automation Market?
  • What are the main geographical areas for various industries that are anticipated to observe astounding expansion for Medical Automation Market?
  • What are the dominant revenue-generating regions for Medical Automation Market, as well as regional growth trends?
  • By the end of the forecast period, what will the market size and growth rate be?
  • What are the main Medical Automation Market trends that are influencing the market's expansion?
  • Which key product categories dominate Medical Automation Market? What is Medical Automation Market’s main applications?
  • In the coming years, which Medical Automation Market technology will dominate the market?

Reason to purchase this Medical Automation Market Report:

  • Determine prospective investment areas based on a detailed trend analysis of the global Medical Automation Market over the next years.
  • Gain an in-depth understanding of the underlying factors driving demand for different Medical Automation Market segments in the top spending countries across the world and identify the opportunities each offers.
  • Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
  • Identify the major channels that are driving the global Medical Automation Market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
  • Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the global Medical Automation Market.
  • Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top Medical Automation Market providers worldwide, including information about their products, alliances, recent contract wins, and financial analysis wherever available.

TOC

Table and Figures

Methodology:

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This methodology is built upon the integration of all seven research methodologies developed by MarketDigits, a renowned global research and consulting firm. By leveraging the collective strength of these methodologies, we are able to deliver a 360° view of the challenges, trends, and issues impacting your industry.

The first step of our 360° Research Methodology™ involves conducting extensive primary research, which involves gathering first-hand information through interviews, surveys, and interactions with industry experts, key stakeholders, and market participants. This approach enables us to gather valuable insights and perspectives directly from the source.

Secondary research is another crucial component of our methodology. It involves a deep dive into various data sources, including industry reports, market databases, scholarly articles, and regulatory documents. This helps us gather a wide range of information, validate findings, and provide a comprehensive understanding of the industry landscape.

Furthermore, our methodology incorporates technology-based research techniques, such as data mining, text analytics, and predictive modelling, to uncover hidden patterns, correlations, and trends within the data. This data-driven approach enhances the accuracy and reliability of our analysis, enabling us to make informed and actionable recommendations.

In addition, our analysts bring their industry expertise and domain knowledge to bear on the research process. Their deep understanding of market dynamics, emerging trends, and future prospects allows for insightful interpretation of the data and identification of strategic opportunities.

To ensure the highest level of quality and reliability, our research process undergoes rigorous validation and verification. This includes cross-referencing and triangulation of data from multiple sources, as well as peer reviews and expert consultations.

The result of our 360° Research Methodology is a comprehensive and robust research report that empowers you to make well-informed business decisions. It provides a panoramic view of the industry landscape, helping you navigate challenges, seize opportunities, and stay ahead of the competition.

In summary, our 360° Research Methodology is designed to provide you with a deep understanding of your industry by integrating various research techniques, industry expertise, and data-driven analysis. It ensures that every business decision you make is based on a well-triangulated and comprehensive research experience.

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