Global Clinical Automation for Healthcare Providers Market Size, Share & Trends Analysis Report By End-user, By Region, and Segment Forecasts, 2023 - 2032

Global Clinical Automation for Healthcare Providers Market Size, Share & Trends Analysis Report By End-user, By Region, and Segment Forecasts, 2023 - 2032

Global Clinical Automation for Healthcare Providers Market Size, Share & Trends Analysis Report By End-user, By Region, and Segment Forecasts, 2023 – 2032

The global clinical automation for healthcare providers' market was valued US $40.0 Billion in 2022 and is expected to reach US $91.60 Billion by 2030, growing at a CAGR of 10.5% during the forecast period 2023-2030.

The purpose of these automation technologies is to improve overall efficiency, accuracy, and patient care in medical facilities. The following are a few of the most important technologies: automated appointment scheduling, automated billing and revenue cycle management, telehealth and telemedicine, clinical decision support systems (CDSS), order entry and management, laboratory information management systems (LIMS), radiology information systems (RIS), and picture archiving and communication systems (PACS).

These technologies help healthcare institutions perform clinical tasks more accurately, efficiently, and affordably. They also streamline workflow and boost patient participation in the hospital setting. Despite the many advantages that clinical automation offers, its effective deployment necessitates thorough planning, employee training, and continuing maintenance. Clinical automation projects must also take data security and regulatory compliance in the healthcare industry into account.

The following are some of the main causes of the market's expansion:

Faster Digital Transformation: The COVID-19 pandemic increased consumer demand for clinical automation technology, especially telemedicine and electronic health records (EHRs). In order to get control of the situation and reduce in-person contact, healthcare practitioners urgently needed to fast adjust to digital record-keeping and remote patient consultations.

The rapid spread of the COVID-19 virus has resulted in a significant increase of the telehealth business in recent years. Healthcare professionals began depending on telehealth solutions as the number of instances rose in order to continue treating patients while following social distance protocols. The demand for clinical automation solutions like electronic prescription and virtual visit scheduling was fuelled by this boom in telehealth use.

Remote Monitoring: Patients looked for clinical automation solutions to ensure safety in light of the abrupt increase in the importance of remote patient monitoring and early detection of COVID-19 symptoms. Also, it made it possible to continuously monitor patients from home.

Data analytics and artificial intelligence (AI) are utilised by healthcare organisations to gather precise data and examine a substantial number of cases in the event of a pandemic.

Procurement and Supply Chain Obstacles: Despite the market's possible increase in demand, the industry faced numerous obstacles. Medical supplies and equipment became unavailable as a result of the pandemic's disruption of international supply lines. Supply chain interruptions resulted from this.

Telecommuting and remote work: In order to avoid manual labour and face-to-face interaction, telecommuting has become an absolute necessity. During lockdowns, many healthcare workers were forced to work from a distance and follow quarantine regulations. This further contributed to the growing inclination towards secure remote access to clinical automation systems.

Technological Advancements: Artificial intelligence (AI), machine learning, and natural language processing are just a few examples of the cutting-edge technologies that are in high demand in the industry. Large amounts of patient data, such as test results, clinical notes, and pictures, can be analysed by AI and machine learning algorithms to help with diagnosis and treatment planning. In addition, they can be used to spot patterns and trends in healthcare data as well as forecast patient outcomes. Clinical automation driven by AI has the potential to improve patient outcomes by enabling more precise diagnosis and individualised treatment regimens. It can also help healthcare providers make better use of the resources they have. InterSystems recently declared the opening of its HealthShare Health Connect Cloud. This AWS Marketplace high-performance healthcare integration engine effectively meets the demands of healthcare delivery networks.

“Therapeutic automation segment, by application, to be largest market from 2023 to 2030.”

By application, the market is segmented into therapeutic automation, lab automation, pharmacy automation, logistics automation, diagnostics and monitoring automation and others. The therapeutic automation category is the one with the largest market share worldwide. There are two subcategories of this segment: surgical and non-surgical. With over 70% of the market for therapeutic automation in 2022, non-surgical automation's dominance in the present is warranted. The segment's dominance is ascribed to a number of variables, including rising rates of chronic illnesses and improvements in medical technology.

“Research institutes segment, by end user, to be largest market from 2023 to 2030.”

By end user, the market is segmented into pharmacies, research institutes, labs, homecare and others. With a 38.0% market share, research institutes dominate the global economy. The research institutions are employed because the research and development institutes demand precision, increased efficiency, reliability, quality, and timeliness in their tests. It also facilitates access to test results, which would otherwise be more difficult. Clinical automation reduces the possibility of human error and offers the ability to audit test results.

“North America to be largest region in Clinical Automation for Healthcare Providers Market.”

The clinical automation market for healthcare providers in North America led the industry in 2023 as a result of significant R&D expenditures, cutting-edge product introductions, and encouraging government programs. Strong healthcare infrastructure is credited with the market expansion, as it has led to a rise in the use of laboratory automation in the US and Canada. The strong local presence of key businesses in this region and the reimbursement system that is supportive are also contributing to the quick penetration of fresh solutions in the North American market.

During the projected period of 2023–2030, the clinical automation market for healthcare providers in Europe is anticipated to rise at an amazing CAGR of 10.8%. The availability of advanced healthcare infrastructure and the rising need for sophisticated systems are predicted to fuel regional market expansion.

Clinical Automation for Healthcare Providers Competitive Landscape

The competitive landscape of the Clinical Automation for Healthcare Providers Market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of Clinical Automation for Healthcare Providers technology holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.

The Clinical Automation for Healthcare Providers Market is highly competitive, with numerous companies vying for market share. Prominent companies in the Clinical Automation for Healthcare Providers Market include:

Major Players:

Cerner Corporation

Epic Systems Corporation

Philips Healthcare

GE Healthcare

Siemens Healthineers

Allscripts Healthcare Solutions

Meditech

McKesson Corporation

Oracle Health

Recent Developments:

ImagineSoftware announced in May 2023 that it has acquired Within Health, a radiology workflow automation startup. With the help of this plan, ImagineSoftware will be able to develop their machine learning and artificial intelligence (AI) skills, which will revolutionise workflows and improve patient retention all while lowering administrative expenses for radiological imaging centres across the country.

CorroHealth bought Medical Savant in July 2021, following a year-long successful test program involving fully autonomous coding and charge capture. The advantages of merging Medical Savant Autonomous Coding with the CorroHealth Advanced Coding Solution (ACS) were demonstrated by automation surpassing 95% of encounters.

Ortho Development announced in May 2021 that THINK Surgical's TSolution One TKA application could be used with its BKS and BKS TriMax implants, thanks to FDA approval.

The Corin Group revealed improvements to its cloud-based digital ecosystem in May 2021, which included a significant CorinConnect software update.

Mobius, a robotic arm from Dexterity Robotics, was introduced in 2020 and is capable of doing a number of activities in the operating room, including suturing and threading needles.