Global Medical Automation Technology Market - 2023-2030
The Global Medical Automation Technology Market reached US$ 43.6 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 90 billion by 2030. The Global Medical Automation Technology Market is expected to exhibit a CAGR of 9.8% during the forecast period 2023-2030.
The medical automation technology market has grown significantly within the healthcare sector in recent years. With this technology, many medical duties are carried out by automated systems, including robots, artificial intelligence (AI), and machine learning.
Healthcare delivery can become more effective and efficient thanks to medical automation technology. The potential for medical automation technologies to transform the healthcare sector by enhancing patient outcomes, boosting productivity, and lowering costs.
MarketDynamics
Medical Automation Investments that are Increased Will Accelerate Market Expansion.
Medical automation investments are expected to increase global medical automation technology opportunities. For instance, in July 2022, the US$17 million Series A fundraising round led by SignalFire was closed by Health Note. This pre-visit clinical intake automation platform employs digital patient intake to produce clinical notes for physicians ahead of patient appointments.
UnityPoint Health, Northwell Holdings, Cedars Sinai Health Ventures, and Northwell Health are all partners in SignalFire. Northwell Holdings is the for-profit division of Northwell Health that focuses on investments in early-stage/growth opportunities, strategic partnerships, and the cultivation of internal innovations that drive improvements in patient care and create diversified revenue streams for the health system.
And in November 2022, to extend the market for its medical image annotations service, health tech firm RedBrick AI raised $4.6 million in a fundraising round led by Sequoia India and Southeast Asia's Surge.
The High Cost of Automation Equipment and Lack of Skilled Professionals are Hampering the Market Growth.
The high cost of automation equipment, the scarcity of trained workers, the lengthy regulatory processes required by businesses to introduce a product or service, and the tax placed by the government on enterprises that make medical devices are expected to impede market expansion.
COVID-19 Impact Analysis
The medical automation technology market has potential opportunities due to COVID-19. For instance, COVID-19 has shown that virtual care interventions are urgently needed to minimize interruptions and reduce access to healthcare.
For instance, the Harward Global Health Institute created an app for the COVID-19 forecasting model that provided a prior warning system for cases, hospitalizations, ICU admissions, ventilator usage, and deaths. This app allowed healthcare professionals to be proactive and stop the pandemic, which is why it is so encouraging to see the development of more automation technology in the medical industry.
Russia-Ukraine War Impact Analysis
The Russia-Ukraine is estimated to have a minimal impact on the global medical automation technology market owing to the low prevalence and absence of key market players in this region. However, the impact of the import and export of raw materials, test products, and devices is anticipated to have little influence over the global Medical Automation Technology market in the forecast period.
Artificial Intelligence Impact Analysis
Artificial intelligence is anticipated to positively impact the Global Medical Automation Technology Market because AI can analyze patient data in electronic health records (EHRs) to find patterns and insights that human healthcare practitioners might not instantly see, resulting in more precise diagnoses and more successful treatments.
Segment Analysis
The Global Medical Automation Technology Market is segmented based on automated health assessment and monitoring by automated imaging and image analysis, automated prescription formulation and dispensing, automated therapeutic (nonsurgical) procedures, medical robotics, and computer-assisted surgical devices, by automated laboratory testing and analysis, by end-user, and region.
Surgical Robots is Estimated to Hold a Majority 0f the Medical Automation Technology Market Share During the Forecast Period.
The surgical robots' medical robotics and computer-assisted surgical devices hold about 46.3% of the total medical automation technology market. The segment will rise more rapidly due to the increasing clinical requirement for surgical procedures brought on by the increased prevalence of chronic illnesses and malignancies.
Additionally, rising healthcare costs in emerging nations, new product breakthroughs, and favorable reimbursement environments in a few countries will all contribute to the segment's growth.
For instance, in January 2021, the SSI multi-arm revolutionary telerobotic assistance surgical system was made available in the nation by the medical robotic technology company SS Innovations for a cost of Rs 4-5 crore. The company claimed in a statement that the restricted availability of the dominant contemporary robotic technology is due to its high cost and difficult learning curve.
Geographical Analysis
North America is Estimated to Hold the Largest Share of the Global Medical Automation Technology Market During the Forecast Period.
The North American region holds the largest global medical automation technology market share, accounting for approximately 41.2% in the forecast period.
Due to the rapid advancements in information technology and healthcare, North America is one of the markets for medical automation technologies. For instance, the American Hospital Association estimates that in 2021 the U.S. will spend US$4.3 trillion, or US$12,914 per person, on health care. This growth rate is considerably less than the 2020 growth forecast (10.3%%).
This significant slowdown in spending can be linked to a drop in government spending on pandemic-related expenses, countering an increase in medical supplies and services that recovered from 2020 owing to delayed care and pent-up demand. In contrast with 2020, when health spending made up 19.7% of GDP, it was 18.3% of GDP in 2021.
Over the forecast period, the global expansion of healthcare automation is driven by the rising acceptance rate of high-tech medical equipment and healthcare reimbursement system.
Competitive Landscape
The major global players in the market include Siemens AG, Accuray Incorporated, Kahle automation, Muratec, Ltd., Schneeberger, Hitachi, Danaher Corporation, Becton Dickinson and Company, Stanley Black and Decker Inc, Intuitive Surgical, among others.
Why Purchase the Report?
• To visualize the Global Medical Automation Technology Market segmentation based on product, application, and region and understand critical commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous medical automation technology market-level data points with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.
The Global Medical Automation Technology Market Report Would Provide Approximately 53 Tables,54 Figures And 195 Pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies
- 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Definition and Overview
- 3. Executive Summary
- 3.1. Snippet by Automated Health Assessment and Monitoring
- 3.2. Snippet by Automated Imaging And Image Analysis
- 3.3. Snippet by Automated Prescription Formulation and Dispensing
- 3.4. Snippet by Automated Therapeutic (Nonsurgical) Procedures
- 3.5. Snippet by Medical Robotics and Computer-Assisted Surgical Devices
- 3.6. Snippet by Automated Laboratory Testing and Analysis
- 3.7. Snippet by End User
- 3.8. Snippet by Region
- 4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. Increasing investment of medical automation can surge the market growth
- 4.1.1.2. The Increasing Application and Benefits Offered
- 4.1.2. Restraints
- 4.1.2.1. The high cost of automation equipment and lack of skilled professionals are hampering the market
- 4.1.3. Opportunity
- 4.1.3.1. Expanding due to an increase in chronic diseases
- 4.1.4. Impact Analysis
- 5. Industry Analysis
- 5.1. Porter's 5 Forces Analysis
- 5.2. Supply Chain Analysis
- 5.3. Unmet Needs
- 5.4. Regulatory Analysis
- 6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Scenario Before COVID-19
- 6.1.2. Scenario During COVID-19
- 6.1.3. Post COVID-19 & Future Scenario
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Government Initiatives Related to the Market During the Pandemic
- 6.4. Manufacturers’ Strategic Initiatives
- 6.5. Conclusion
- 7. Russia-Ukraine War Analysis
- 8. Artificial Intelligence Impact Analysis
- 9. By Automated Health Assessment and Monitoring
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Health Assessment and Monitoring
- 9.1.2. Market Attractiveness Index, By Automated Health Assessment and Monitoring
- 9.2. Automated Home Monitoring and Telemetry
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. Telehealth Kiosks
- 9.4. Automated Eye Examination Devices
- 9.5. Automated Drug Testing
- 9.6. Others
- 10. By Automated Imaging and Image Analysis
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Imaging And Image Analysis
- 10.1.2. Market Attractiveness Index, By Automated Imaging And Image Analysis
- 10.2. Automated Radiography and Fluoroscopy
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 10.3. Automated Whole-Breast Ultrasound
- 10.4. Computer-Aided Detection
- 10.5. Automated Microscopy
- 10.6. Automated Skin Cancer Detection
- 10.7. Others
- 11. By Automated Prescription Formulation and Dispensing
- 11.1. Introduction
- 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Prescription Formulation and Dispensing
- 11.1.2. Market Attractiveness Index, By Automated Prescription Formulation and Dispensing
- 11.2. Packaging Machines
- 11.2.1. Introduction
- 11.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 11.3. Intravenous Compounders
- 11.4. Others
- 12. By Automated Therapeutic (Nonsurgical) Procedures
- 12.1. Introduction
- 12.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Therapeutic (Nonsurgical) Procedures
- 12.1.2. Market Attractiveness Index, By Automated Therapeutic (Nonsurgical) Procedures
- 12.2. Automated Defibrillators
- 12.2.1. Introduction
- 12.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 12.3. Automated Medication Delivery Systems
- 13. By Medical Robotics and Computer-Assisted Surgical Devices
- 13.1. Introduction
- 13.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Medical Robotics and Computer-Assisted Surgical Devices
- 13.1.2. Market Attractiveness Index, By Medical Robotics and Computer-Assisted Surgical Devices
- 13.2. Surgical Planners and Simulators
- 13.2.1. Introduction
- 13.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 13.3. Surgical Navigation Systems
- 13.4. Surgical Robots
- 13.5. Intelligent Operating Rooms and Related Equipment
- 14. By Automated Laboratory Testing and Analysis
- 14.1. Introduction
- 14.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Laboratory Testing and Analysis
- 14.1.2. Market Attractiveness Index, By Automated Laboratory Testing and Analysis
- 14.2. Central Laboratory Systems
- 14.2.1. Introduction
- 14.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 14.3. Point-Of-Care Testing Systems
- 15. By End User
- 15.1. Introduction
- 15.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 15.1.2. Market Attractiveness Index, By End User
- 15.2. Hospitals
- 15.2.1. Introduction
- 15.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 15.3. Ambulatory Surgical Centers
- 15.4. Other
- 16. By Region
- 16.1. Introduction
- 16.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 16.1.2. Market Attractiveness Index, By Region
- 16.2. North America
- 16.2.1. Introduction
- 16.2.2. Key Region-Specific Dynamics
- 16.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Health Assessment and Monitoring
- 16.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Imaging And Image Analysis
- 16.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Prescription Formulation and Dispensing
- 16.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Therapeutic (Nonsurgical) Procedures
- 16.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Medical Robotics and Computer-Assisted Surgical Devices
- 16.2.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Laboratory Testing and Analysis
- 16.2.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 16.2.10. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 16.2.10.1. The U.S.
- 16.2.10.2. Canada
- 16.2.10.3. Mexico
- 16.3. Europe
- 16.3.1. Introduction
- 16.3.2. Key Region-Specific Dynamics
- 16.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Health Assessment and Monitoring
- 16.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Imaging And Image Analysis
- 16.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Prescription Formulation and Dispensing
- 16.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Therapeutic (Nonsurgical) Procedures
- 16.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Medical Robotics and Computer-Assisted Surgical Devices
- 16.3.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Laboratory Testing and Analysis
- 16.3.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 16.3.10. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 16.3.10.1. Germany
- 16.3.10.2. The U.K.
- 16.3.10.3. France
- 16.3.10.4. Italy
- 16.3.10.5. Spain
- 16.3.10.6. Rest of Europe
- 16.4. South America
- 16.4.1. Introduction
- 16.4.2. Key Region-Specific Dynamics
- 16.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Health Assessment and Monitoring
- 16.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Imaging And Image Analysis
- 16.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Prescription Formulation and Dispensing
- 16.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Therapeutic (Nonsurgical) Procedures
- 16.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Medical Robotics and Computer-Assisted Surgical Devices
- 16.4.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Laboratory Testing and Analysis
- 16.4.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 16.4.10. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 16.4.10.1. Brazil
- 16.4.10.2. Argentina
- 16.4.10.3. Rest of South America
- 16.5. Asia-Pacific
- 16.5.1. Introduction
- 16.5.2. Key Region-Specific Dynamics
- 16.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Health Assessment and Monitoring
- 16.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Imaging And Image Analysis
- 16.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Prescription Formulation and Dispensing
- 16.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Therapeutic (Nonsurgical) Procedures
- 16.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Medical Robotics and Computer-Assisted Surgical Devices
- 16.5.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Laboratory Testing and Analysis
- 16.5.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 16.5.10. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 16.5.10.1. China
- 16.5.10.2. India
- 16.5.10.3. Japan
- 16.5.10.4. Australia
- 16.5.10.5. Rest of Asia-Pacific
- 16.6. Middle East and Africa
- 16.6.1. Introduction
- 16.6.2. Key Region-Specific Dynamics
- 16.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Health Assessment and Monitoring
- 16.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Imaging And Image Analysis
- 16.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Prescription Formulation and Dispensing
- 16.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Therapeutic (Nonsurgical) Procedures
- 16.6.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Medical Robotics and Computer-Assisted Surgical Devices
- 16.6.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Automated Laboratory Testing and Analysis
- 16.6.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 17. Competitive Landscape
- 17.1. Competitive Scenario
- 17.2. Market Share Analysis
- 17.3. Mergers and Acquisitions Analysis
- 18. Company Profiles
- 18.1. Siemens AG
- 18.1.1. Company Overview
- 18.1.2. Product Portfolio and Description
- 18.1.3. Financial Overview
- 18.1.4. Key Developments
- 18.2. Accuray Incorporated
- 18.3. Kahle automation
- 18.4. Muratec, Ltd.
- 18.5. Schneeberger
- 18.6. Hitachi
- 18.7. Danaher Corporation
- 18.8. Becton, Dickinson and Company
- 18.9. Stanley Black and Decker Inc.
- 18.10. Intuitive Surgical.
- LIST NOT EXHAUSTIVE
- 19. Appendix
- 19.1. About Us and Services
- 19.2. Contact Us
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