The global Medical Automation Market is expected to surpass an impressive 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 expenditure, are the major drivers driving market growth. However, the high cost of automation and the risks associated with robotic surgery, followed by the requirement of physician training, are expected to limit market growth. The advantages associated with automated systems are attributed to the increasing adoption of these devices.
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Automation of tedious tasks such as sampling, quality and quantity monitoring, packaging and labelling, and scanning of medicines and devices, for example, has condensed human efforts and increased speed and accuracy, leading to increased reliance on these automated systems. Furthermore, the growing global prevalence of chronic conditions such as diabetes, cancer, arthritis, and chronic obstructive pulmonary disease (COPD) is driving demand for faster and more productive therapeutic, laboratory, and pharmacy-automated medication systems.
Key Takeaways-
- North America dominated the healthcare automation market in 2021, accounting for the largest market share.
- The therapeutic automation segment has the largest market share in the global market and is expected to maintain its dominance throughout the forecast period.
- The Research Institute segment has the largest market share in the global market based on end users.
- North America has the largest market share (41% in the global healthcare automation market) by region.
- However, Asia-Pacific is expected to be the fastest-growing medical automation market.
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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.
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
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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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