USD 5.24 billion
Medical Automation Technologies Market Size, Share, Growth Analysis, By Type(Diagnostic & Monitoring Operations, Therapeutic Automation, Lab & Pharmacy Automation, and Home Healthcare Automation.), By Application(Imaging and radiology, Clinical Chemistry analysis, Vital signs monitoring, Surgery and Rehabilitation.), By End-use(Hospitals & Diagnostics Centres, Research Institute & Labs, Homecare Settings.), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35G2173 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
92
|Figures:
76
Medical Automation Technologies Market Insights
Medical Automation Technologies Market size was valued at USD 5.66 billion in 2022 and is poised to grow from USD 6.11 billion in 2023 to USD 11.33 billion by 2031, growing at a CAGR of 8.02% during the forecast period (2024-2031).
The global medical automation technologies market is driven by the increasing demand for efficient and accurate healthcare services. One of the key factors driving the growth of the global medical automation technologies market is the rising need to streamline healthcare processes and reduce human errors. Automation technologies enable healthcare providers to automate repetitive tasks, such as data entry, medication dispensing, and laboratory testing, leading to enhanced efficiency and reduced chances of errors. This not only saves time but also improves patient safety by minimising the risk of medical errors. Furthermore, the increasing prevalence of chronic diseases, ageing populations, and the need for personalised healthcare are also contributing to the market's growth. Medical automation technologies facilitate remote patient monitoring, telemedicine, and home healthcare, enabling healthcare providers to monitor and manage patients' health conditions remotely. This not only improves patient convenience but also reduces the burden on healthcare facilities and lowers healthcare costs.
US Medical Automation Technologies Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Diagnostic & Monitoring Operations
Fastest Growth
Diagnostic & Monitoring Operations
Growth Rate
8.02% CAGR
Global Medical Automation Technologies By Country ($ Bn)
Country Share for North America Region (%)
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Medical Automation Technologies Market Segmental Analysis
The global medical automation technologies market is segmented in terms of type, application, end - use and region. Based on type, the market can be segmented into Diagnostic & Monitoring Operations, Therapeutic Automation, Lab & Pharmacy Automation and Home Healthcare Automation. Based on application, the market is segmented into Imaging and radiology, Clinical Chemistry analysis, Vital signs monitoring, Surgery and Rehabilitation. By end - use it is segmented into Hospitals & Diagnostics Centres, Research Institute & Labs, Homecare Settings. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Medical Automation Technologies Market Analysis by Type
Among the types mentioned in the global medical automation technologies market, the dominant type is Diagnostic & Monitoring Operations. This segment encompasses automated systems and devices used for diagnosing and monitoring various medical conditions. It includes automated imaging systems, diagnostic equipment, and remote patient monitoring devices, among others. The demand for advanced diagnostic and monitoring technologies is increasing due to the rising prevalence of chronic diseases and the need for accurate and efficient diagnostic procedures.
On the other hand, the fastest-growing type in the global medical automation technologies market is Home Healthcare Automation. This segment involves the automation of healthcare services and devices that can be used in a home setting. With the growing emphasis on personalised and patient-centric care, there is an increasing trend towards shifting healthcare services from hospitals and clinics to the comfort of patients' homes. Home healthcare automation includes automated devices for remote patient monitoring, medication management, telehealth services, and home-based diagnostic systems. The convenience, cost-effectiveness, and improved patient outcomes associated with home healthcare automation are driving its rapid growth.
Medical Automation Technologies Market Analysis by Application
Among the mentioned applications in the global medical automation technologies market, the dominant application is Imaging and Radiology. Imaging and radiology technologies play a crucial role in diagnostic procedures, providing valuable insights into the internal structures of the human body. These technologies include X-ray, computed tomography (CT), magnetic resonance imaging (MRI), ultrasound, and nuclear medicine imaging. The dominant position of Imaging and Radiology can be attributed to its widespread use across various medical specialties and its criticality in disease diagnosis and treatment planning.
On the other hand, the fastest-growing application in the global medical automation technologies market is Surgery and Rehabilitation. With advancements in robotic and automated systems, surgical procedures have witnessed a transformation in recent years. Automation technologies in surgery assist surgeons in performing complex procedures with enhanced precision, reduced invasiveness, and improved patient outcomes. Additionally, rehabilitation technologies, such as robotic exoskeletons and virtual reality-based therapies, are gaining traction for their ability to aid in the recovery and rehabilitation of patients with mobility impairments. The growing adoption of surgical and rehabilitation automation technologies is driven by the need for improved surgical outcomes, reduced human errors, and the rising prevalence of chronic diseases and disabilities.
Global Medical Automation TechnologiesBy Type
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Medical Automation Technologies Market Regional Insights
The most dominant region in the global medical automation technologies market is North America. This region has a well-established healthcare system and a high adoption rate of advanced medical technologies. The presence of major healthcare companies, research institutions, and academic centres contribute to the dominance of North America in this market. Additionally, favourable reimbursement policies, government initiatives, and a strong focus on healthcare innovation drive the demand for medical automation technologies in the region.
On the other hand, the fastest-growing region in the global medical automation technologies market is Asia-Pacific. This region is witnessing rapid economic growth, increasing healthcare expenditure, and a growing ageing population. Countries such as China, Japan, and India are investing significantly in upgrading their healthcare infrastructure and adopting advanced medical technologies. Moreover, the rising demand for efficient healthcare delivery, improved patient outcomes, and the need to address the healthcare challenges in densely populated countries contribute to the fast growth of the medical automation technologies market in Asia-Pacific.
Global Medical Automation Technologies By Geography
- Largest
- Fastest
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Medical Automation Technologies Market Dynamics
Medical Automation Technologies Market Drivers
Increasing Demand for Efficiency and Accuracy
- The global medical automation technologies market is driven by the increasing need for healthcare providers to enhance efficiency, accuracy, and productivity in various healthcare processes. By implementing automation, healthcare facilities can reduce human errors, improve precision, and streamline workflows, leading to enhanced patient care and better treatment outcomes.
Medical Automation Technologies Market Restraints
Ethical Considerations
- The adoption of automation technologies in healthcare raises ethical concerns that need careful consideration. These concerns include the potential impact on the doctor-patient relationship, the ethical implications of decision-making algorithms, and the risk of dehumanisation in healthcare practices. Striking the right balance between technological advancements and ethical principles is an ongoing challenge in the widespread acceptance and implementation of medical automation technologies.
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Medical Automation Technologies Market Competitive Landscape
The global medical automation technologies market is characterised by intense competition and a diverse range of players operating across different segments. This market encompasses various automation technologies designed to streamline processes, improve efficiency, and enhance patient care in the healthcare industry. While numerous companies are active in this sector, the competitive landscape can be broadly categorised into several key players and emerging players.
Medical Automation Technologies Market Top Player’s Company Profiles
- BD (US)
- Omnicell, Inc. (US)
- McKesson Corporation (US)
- Cerner Corporation (US)
- Siemens Healthineers (Germany)
- Capsa Healthcare (US)
- Baxter International Inc. (US)
- Swisslog Healthcare (Switzerland)
- Talyst, LLC (US)
- ScriptPro LLC (US)
- Omnicare, Inc. (US)
- Parata Systems (US)
- Yuyama Co., Ltd. (Japan)
- ARxIUM Inc. (Canada)
- TCGRx (US)
- Becton, Dickinson and Company (US)
- CareFusion Corporation (US)
- Innovation Associates, Inc. (US)
- Talis Clinical, LLC (US)
- Accu-Chart Plus Healthcare Systems, Inc. (US)
Medical Automation Technologies Market Recent Developments
- In February 2023, Swisslog Holding AG announced the launch of its new X-POD automated medication dispensing system. The X-POD is designed to improve patient safety and efficiency in hospitals and other healthcare settings.
- In January 2023, Becton, Dickinson and Company (BD) announced the acquisition of Talyst, a provider of medication automation solutions. The acquisition will help BD to expand its portfolio of medication automation solutions and to better serve its customers.
- In December 2022, Baxter International announced the launch of its new IntelliBridge Medication Management System. The IntelliBridge system is designed to help hospitals and other healthcare settings to improve patient safety and efficiency.
- In November 2022, Omnicell announced the launch of its new Omnicell IV Assistant. The Omnicell IV Assistant is designed to help hospitals and other healthcare settings to improve the accuracy and efficiency of IV drug compounding.
- In October 2022, ARxIUM announced the launch of its new ARxIUM Pharmacy Automation Platform. The ARxIUM platform is designed to help hospitals and other healthcare settings to improve the efficiency and accuracy of pharmacy operations.
Medical Automation Technologies Key Market Trends
- Increasing Demand for Patient Safety and Efficiency: The global medical automation technologies market is expected to grow significantly in the coming years, driven by factors such as the increasing demand for patient safety and efficiency, the rising cost of healthcare, and the growing adoption of automation technologies in other industries. The market is segmented by product, application, end user, and region. The automated medication dispensing & storage systems segment is the largest segment of the market, and is expected to continue to dominate the market during the forecast period.
Medical Automation Technologies Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to the global medical automation technologies analysis, the increasing need for advanced healthcare solutions and the growing demand for efficient and accurate diagnostic procedures are the key growth drivers. Automation technologies enable healthcare providers to streamline processes, reduce errors, and enhance patient outcomes. Automated laboratory systems, for example, improve efficiency and accuracy in diagnostic testing, leading to faster and more reliable results. Similarly, robotic surgical systems offer precise and minimally invasive procedures, reducing patient trauma and recovery time. AI-powered systems enable accurate diagnosis, predictive analytics, and personalised treatment plans. ML algorithms analyse vast amounts of patient data to identify patterns and assist healthcare providers in making informed decisions. In terms of the competitive landscape, the report identifies key players in the global medical automation technologies market and analyses their market share, product portfolio, and business strategies.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 5.66 billion |
| Market size value in 2031 | USD 11.33 billion |
| Growth Rate | 8.02% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Medical Automation Technologies Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Medical Automation Technologies Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Medical Automation Technologies Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Medical Automation Technologies Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Medical Automation Technologies Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Medical Automation Technologies Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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