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The global medical automation market size is projected to reach an impressive US$ 44.45 billion in 2022, with a CAGR of 10.6% from 2023 to 2033. Medical Automation Market is expected to reach US$ 102.4 billion by 2033
The rising prevalence of chronic diseases such as cancer, diabetes, and others, the developing pharmaceutical and biotechnology sector, increased demand for robotic surgery, and rising healthcare expenditure are all driving market expansion. The high cost of automation, hazards connected with robotic surgery, and the necessity for physician training, on the other hand, are projected to stymie industry expansion. Despite these challenges, the benefits of automated systems, such as the automation of time-consuming tasks such as sampling, quality monitoring, packaging, labelling, and scanning of medicines and devices, have reduced human efforts and increased speed and accuracy, leading to a greater reliance on these systems.
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Furthermore, the rising global prevalence of chronic illnesses such as diabetes, cancer, arthritis, and chronic obstructive pulmonary disease (COPD) is driving demand for faster and more productive therapeutic, laboratory, and pharmacy-automated pharmaceutical systems.
Key Takeaways-
- North America held the biggest market share in the healthcare automation industry in 2021.
- The therapeutic automation sector has the largest global market share and is expected to maintain its dominance during the forecast period.
- Based on end users, the Research Institution sector has the largest market share in the global market.
- By region, North America has the largest market share (41% in the worldwide healthcare automation business).
- Nonetheless, the Asia-Pacific medical automation business is predicted to be the fastest growing.
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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
Recent Developments-
- In January 2022, the medical technology business Becton, Dickinson, and Company announced a $1.5 billion acquisition of Parata Systems. Inventory management software, the high-speed robotic process for medical automation, robotic dispensers, workflow solutions, and adherence packaging tools are all available from Parata systems. The main goal of Becton, Dickinson is to run pharmacies to help people live better lives.
- Siemens Healthineers AG will buy Varian Medical Systems, Inc. in 2021. This is a German medical device firm that allows the former to have more access to the latter's extensive portfolio while also strengthening its position in the MedTech sector.
- Philips will acquire Capsule Technologies, Inc. in 2021. They serve hospitals and healthcare institutions with medical device integration and data technology. The goal is to strengthen Philips' position as a leader in patient care management solutions. Capsule Technologies, Inc offers medical device information platforms that include device integration, clinical surveillance services, and vital signs monitoring. Philips' objective is to use integrated solutions to transform the delivery of healthcare in the health area. It aids in the connectivity of nearly all medical devices as well as EMRs in hospitals.
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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
