Medical Automation Market is expected to garner a market value of US$ 102.4 billion by 2033
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 rising prevalence of chronic diseases such as cancer, diabetes, and others, the expanding pharmaceutical and biotechnology sector, and rising demand for robotic surgery, as well as rising healthcare spending, are the primary forces driving market expansion. However, the high cost of automation and the hazards involved with robotic surgery, followed by the requirement of physician training, are expected to limit market expansion. The advantages associated with automated systems are related to the rising popularity of these technologies.
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For instance, the automation of tedious tasks such as sampling, monitoring of quality, quantity, packaging and labeling, and scanning of medicines and devices, have condensed human efforts and increased speed and accuracy, which has led to increased reliance on these automated systems. Moreover, the growing global prevalence of chronic conditions such as diabetes, cancer, arthritis, and chronic obstructive pulmonary disease (COPD) is further thrusting the demand for therapeutic, laboratory, and pharmacy-automated medication systems, which are faster and more productive.
- North American region dominated the healthcare automation market and accounted for the highest market share in 2021.
- Based on Application, the therapeutic automation segment holds the largest market share in the global market and is expected to retain its dominance during the forecast period.
- Based on end users, the Research Institute segment accounts for the largest market share in the global market.
- By region, North America holds the largest market share 41% in the global healthcare automation market.
- However, Asia-Pacific is anticipated to be the fastest-growing market for the medical automation market.
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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
- 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
- laboratory and pharmacy
- medical software
By end use:
- Hospital and diagnostic center
- Research laboratories & institutes
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