Global Medical Automation Market 2023-2030

Global Medical Automation Market 2023-2030

Global Medical Automation Market Size, Share & Trends Analysis Report by Application Diagnosis & Monitoring Automation, Therapeutic Automation, Lab & Pharmacy Automation and Medical Logistics & Training), by End Users (Hospitals, Diagnostic Centers, Pharmacies, Research Labs and Institutes, Ambulatory Surgical Centers and Others), Forecast Period (2023-2030)

The global medical automation market is anticipated to grow at a CAGR of 13.7% during the forecast period (2023-2030). Medical automation helps improve patient outcomes by supporting technological advancements, making processes more efficient and effective. The key factors driving the market are the adoption of automated instruments by drug discovery departments of pharmaceutical companies, the rise in need for miniaturization, and technological advancements coupled with the rise in demand for robot-assisted surgeries. The growing advances in ingestible sensors, robotic caregivers, and gadgets and applications that remotely monitor patients with the improving AI, big data, robotics, and machine learning is the key factor supporting the growth of the market globally.Hence, the market players are also focusing on introducing automated instruments that further bolster the market growth. For instance, in June 2023, Becton, Dickinson and Company a medical technology company, announced the global commercial launch of a new automated instrument that prepares samples for clinical diagnostics using flow cytometry, enabling a complete ""walkaway"" workflow solution designed to improve standardization and reproducibility in cellular diagnostics.

According to the International Federation of Robotics (IFR), in October 2022, automation booster ignited with strong recovery after COVID-19. The number of new robots installed is 517,000 units (+31%) that are the highest number in history with a CAGR of 2016-2021 of +11% and the number of Robot stock of 3.5 million units (+15%) with a CAGR of 2016-2021 +14%. Advancements in adjacent technologies such as vision and special awareness technologies, New software and end effectors for a diversified range of tasks, AI offering new applications

Segmental Outlook

The global medical automation market is segmented on the transaction mode, advertisement format, and industry verticals. Based on the application, the market is sub-segmented into diagnosis & monitoring automation, therapeutic automation, lab & pharmacy automation and medical logistics & training. Based on the end users, the market is sub-segmented into hospitals, diagnostic centers, pharmacies, research labs and institutes, ambulatory surgical centers and others (homecare, specialty clinics). Among the end users, the pharmacies sub-segment is anticipated to hold a considerable share of the market owing to the rise in development of pharmacy automation technology that can improve medication accuracy and reduce risks of error such as prescription filling errors.

The Lab & Pharmacy Automation Sub-Segment is Anticipated to Hold a Considerable Share of the Global Medical Automation Market

Among the applications, the lab & pharmacy automation sub-segment is expected to hold a considerable share of the global medical automation market. The segmental growth is attributed to the growing influence of advanced robotics, high-definition cameras, customized algorithms, and machine learning to streamline processes and eliminate manual errors. The lab & pharmacy automation integrates five major laboratory disciplines into one automated track. This reduces turnaround time significantly by providing an end-to-end solution. With centralized real-time monitoring, advanced algorithms, and proactive critical alerts, it also provides accurate and prompt results. This enables the hospital to deliver a higher level of patient care. For instance, in June 2023, Kokilaben Dhirubhai Ambani Hospital launched Total Lab Automation (TLA) powered by Roche Diagnostics. The new technology will improve patient care with a special emphasis on preventive healthcare. Total lab automation combines data analytics and workflow integration with robotics to revolutionize traditional laboratory processes.

Regional Outlook

The global medical automation market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe, owing to the increasing cases of chronic diseases, and growing government and corporate investment in the healthcare sector, that are the major growth factors in this region. The key market players include Asahi Kasei Medical Co., Ltd., HollySys Group, Kahle Automation Co., Ltd., Nalashaa Healthcare Solutions, Omron Corp. and others.

The North America Region is Expected to Grow at a Significant CAGR in the Global Medical Automation Market

Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the presence of a well-established healthcare infrastructure, that has increased the use of laboratory automation in the region. An increase in the use of artificial intelligence (AI) in healthcare from diagnostics to treatment in the region drives the growth of the market. Healthcare institutions are also focusing on new technological developments and the high expectations of patients with respect to levels of service and outcomes as they know it from consumer products including those of Amazon and Apple. The advances in wireless technology and smartphones have provided opportunities for on-demand healthcare services using health tracking apps and search platforms and have also enabled a new form of healthcare delivery, via remote interactions, available anywhere and anytime.

The medical ecosystem is realizing the importance of AI-powered tools in the next-generation medical technology. According to the National Institute of Health (NIH), in June 2020, AI can bring improvements to any process within healthcare operation and delivery. For instance, the cost savings that AI can bring to the healthcare system is an important driver for the implementation of AI applications. It is estimated that AI applications can cut annual US healthcare costs by $US 150 billion in 2026. Furthermore, advancements in the medical and information technology sectors support the growth of the market in the region. The key market players include Becton, Dickinson and Company, Boston Scientific Corp., Edwards Lifesciences Corp., Hansen Medical, Inc., Teleflex Inc. and others.

Market Players Outlook

The major companies serving the medical automation market include Boston Scientific Corp., Koninklijke Philips N.V., Medtronic Plc, Siemens AG, Siemens Healthineers, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in March 2023, Masimo Corp. provider of medical technology and automation solutions, and Temple Health, Philadelphia’s 979-bed academic health system, announced that they are entering into a strategic innovation collaboration. The collaboration includes Hospital Automation™ solutions like UniView®, UniView 60™, Halo ION®, and Sepsis Index™ for Patient SafetyNet™.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global medical automation market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.