Healthcare Automation Market Size To Hold USD 91.6 Bn By 2030

Published Date : 12 Jan 2023

The global healthcare automation market size was exhibited at USD 41.71 billion in 2022 and is expected to hold around USD 91.6 billion by 2030 with a noteworthy CAGR of 10.33% over the forecast period 2022 to 2030.

With the aid of robotics, software, and wearable technology, healthcare automation aims to improve the accuracy and efficiency of medical procedures. The healthcare system feels better since software robots take over tedious activities, intricate data, and processes. For instance, the Nanonets automation platform is useful for processing forms, scheduling patients automatically, processing surveys, and many other tasks. 

Additionally, healthcare automation improves the delivery of healthcare in many areas, from patient registration to treatment procedures. Nurse appointments can now be made using sophisticated scheduling software that takes into account patient proximity, matches the patient's needs with the appropriate medical specialty, and then arranges for the best-suited nurse to visit the patient at home. With a single interface, automation provides nurses with comprehensive real-time patient information.

Market Growth

Automation provides additional assistance for the healthcare sector, and as a result, these characteristics are what is causing the market to grow. Due to better production rates, more efficient use of raw materials increased productivity, and improved safety, the advantages of automation in the healthcare industry help the market expand.

During the forecasted years, it is expected that the worldwide healthcare automation market would expand significantly. Numerous growth drivers include the ongoing development of various healthcare automation technologies, increased government investment in healthcare automation, and the growing adoption of healthcare automation systems in labs, medical logistical operations, pharmacies, and other settings.

Healthcare Automation Market Report Scope

Report Coverage Details
Market Size in 2022 USD 41.71 Billion
Market Size by 2030 USD 91.6 Billion
Growth Rate from 2022 to 2030 CAGR of 10.33%
Largest Market North America
Fastest Growing Market Asia Pacific
Base Year 2022
Forecast Period 2022 to 2030
Segments Covered By Product and By End-User
Regions Covered  North America, Europe, Asia-Pacific, Latin America and Middle East & Africa


Regional Analysis

Due to the growing use of healthcare automation in the healthcare sector in this region, North America will hold a dominant position in the global healthcare automation market by the year 2020. Additionally, the expansion of medical facilities and increased government investment in technological innovation in the healthcare sector in this region are supporting the market's overall growth. Due to the rapid advancements in information technology and healthcare, North America is one of the markets for healthcare automation.

The global expansion of healthcare automation over the projection period is being driven by the rising acceptance rate of cutting-edge medical gadgets and healthcare reimbursement framework. But during the course of the projection period, Asia-Pacific is anticipated to have one of the quickest rates of growth. 

During the forecast period, the Asia-Pacific healthcare automation market is anticipated to grow in terms of value sales due to a number of major factors, including rising government spending on medical research, an increase in clinical trials, an increase in the region's geriatric population and the prevalence of chronic diseases there, as well as improvements in the medical infrastructure.

Market Dynamics

Drivers

The development of the global healthcare automation market is being fueled by technological advances. The global need for healthcare automation is being driven by rapid technical breakthroughs in diagnostic & monitoring automation, lab & pharmacy automation, and others.

Due to the use of Big Data and Artificial Intelligence, physicians may access a significant amount of patient medical history. Because of this, they are able to make crucial choices about the care of patients. The adoption of automation in healthcare is projected to boost patient care delivery, increase efficiency at healthcare institutions, and increase revenue generation. 

A major trend in the global healthcare automation market is the fast-growing demand for wearable technology. The rise of the healthcare industry's automation market is also fueled by an increase in government support in the form of funding and investments. For instance, European governmental organizations like the Healthcare Products Regulatory Agency and Medicines are in favor of pharmacy automation systems.

Restraints

Malware, flaws, and breaches are just a few hazards that the systems may be exposed to. Furthermore, the creation of new technologies and their use may be hindered by a dearth of highly qualified individuals. Strong access control policies that restrict access to Personally Identifiable Information (PII) and Personal Health Information (PHI) data to a specific group of users based on their needs can aid in reducing data theft.

Opportunities

The expansion of the global healthcare automation market is predicted to be fueled by the rise in governmental backing throughout the forecast period. The market expansion in the healthcare automation sector is being driven by the use of smart technology like therapeutic automation. By giving cash and investments, governments' support for the adoption of automation in healthcare is enhancing patient outcomes. For instance, governmental organizations in Europe, including the Medicines and Healthcare Products Regulatory Agency, support automated pharmacy systems.

Product Insight

The therapeutic automation market has the largest share of the global healthcare automation market by product. One of the key drivers driving the market's overall expansion in terms of value sales is the rising prevalence rates of many chronic diseases, as well as technological and medical advancements. The smart development application also aids in the careful handling of patients and the better management of continuous care. 

As a result, these applications assist patients in connecting with nearby attendants who actively coordinate pharmaceutical claims to meet the patient's demands. The medical assistants then arrange to see the patient at home.

End-User Insight

Hospitals, research institutes, home/ambulatory care, and diagnostic centers make up the four segments of the healthcare automation industry, depending on the end user. In the worldwide healthcare automation market, the research institutes sector held the largest market share. The utilization of research institutes is encouraged for a number of factors, including testing timeliness, reliability, improving efficiency, and accuracy. 

Additionally, it makes it feasible to access test results that would be more difficult and impossible to get otherwise. This lessens the risk of human error and provides a test audit trail, allowing compliance requirements to be confirmed. Research institutions are spending money to digitize labs and program various processes, which will boost total employee productivity.

Recent Development

  • In Jan 2022, Becton, Dickinson, and Company, a company in the medical technology sector, announced the acquisition of Parata Systems for more than $1.5 billion. Pharmacy automation products from Parata Systems include workflow solutions, high-speed robotic dispensers, inventory management software, and adherence packing equipment. The acquisition goal of the Becton, Dickinson corporation is to run pharmacies for people's healthier lifestyles.
  • In 2021, Varian Medical Systems, Inc. was purchased by Siemens Healthineers AG. This is a German medical device firm that enables the former to expand its position in the MedTech industry while increasing access to the latter's extensive range.
  • In 2021, the Acquisition of Philips by Capsule Technologies, Inc. They offer data technology and medical device integration to hospitals and other healthcare facilities. The goal is to strengthen Philips' position as a leader in patient care management systems. Medical device information platforms such as device integration, clinical surveillance services, and vital sign monitoring are offered by Capsule Technologies, Inc. The goal of Philips' plan is to use integrated solutions to completely change how healthcare is delivered. It is beneficial to connect virtually all medical equipment and hospital EMR systems.

Major Key players 

  • Siemens AG
  • General Electric Company
  • Swisslog Holding AG
  • Koninklijke Philips N.V.
  • Medtronic plc
  • Intuitive Surgical, Inc.
  • Stryker Corporation
  • Danaher Corporation
  • Accuray, Inc.
  • Tecan Group Ltd.

Market Segmentation

By Product

  • Therapeutic Automation
  • Lab & Pharmacy Automation
  • Medical Logistics & Training Automation
  • Diagnostics & Monitoring Automation

By End-User

  • Hospital
  • Research Institutes 
  • Home/Ambulatory Care
  • Diagnostic center

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