Global Medical Automation Market Shows Robust Growth Driven by Technological Advancements and Rising Healthcare Demands

Discover the latest trends in the global medical automation market driven by advancements in robotics, AI, and IoT

VANCOUVER, BC, CANADA, June 20, 2024 /EINPresswire.com/ -- ​​​​​​​The global medical automation market size was USD 27.19 Billion in 2022 and is expected to register a rapid revenue CAGR of 9.7% during the forecast period. The global medical automation market is experiencing significant growth, driven by increasing investments in Research & Development (R&D), adoption of automated instruments by pharmaceutical companies, and advancements in technologies such as robotics, Artificial Intelligence (AI), and Internet of Things (IoT). These factors are projected to boost market revenues substantially over the forecast period.

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Key drivers of market growth include the rising prevalence of chronic diseases like cardiovascular conditions and cancer, which necessitate advanced medical automation solutions to enhance clinical trials and treatment outcomes. Moreover, substantial global investments in healthcare infrastructure, laboratories, and research facilities are further propelling the demand for automation in healthcare settings.

Medical automation plays a crucial role in optimizing patient care by managing vast amounts of patient data, improving treatment accuracy, and facilitating more efficient diagnostic processes. This technology is increasingly adopted by pharmacies, laboratories, and research centers worldwide, contributing significantly to market expansion.

The surgical robotics segment, particularly in Robot-Assisted Surgery (RAS), is witnessing substantial growth due to increasing demand for minimally invasive procedures and the aging population with complex healthcare needs. These robotic systems assist surgeons in enhancing surgical precision and improving patient outcomes.

However, the market faces challenges such as the high cost of installation and a shortage of skilled professionals, which could restrain revenue growth. Despite these challenges, the therapeutic segment remains dominant within the medical automation market, driven by advancements that improve therapy administration accuracy and support precision medicine development.

In terms of application, imaging technologies are expected to register moderate growth, particularly in intraoperative imaging and AI-based diagnostic capabilities. These technologies aid in detecting various medical conditions with greater accuracy, thereby enhancing overall healthcare efficiency.

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Ultrasound systems, leveraging AI and advanced algorithms, are anticipated to capture a significant market share due to their ability to produce high-quality images quickly and accurately. Automated ultrasound systems play a critical role in diagnosing organ anomalies, cardiovascular issues, and monitoring fetal development during pregnancy, thereby enhancing workflow efficiency in healthcare settings.

Hospitals & diagnostic centers constitute a major end-user segment, driven by the increasing demand for effective diagnostic solutions and streamlined healthcare operations. Automation in hospitals improves diagnostic accuracy and speeds up test analysis, resulting in enhanced patient care and operational efficiency.

Overall, the global medical automation market is poised for steady growth as technological innovations continue to redefine healthcare delivery. With ongoing advancements in robotics, AI, and IoT, coupled with increasing healthcare investments globally, the market is expected to expand significantly in the coming years.

Medical Automation Top Companies and Competitive Landscape

The global medical automation market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective medical automation solutions.

Zimmer Biomet

Danaher Corporation

Koninklijke Philips N.V.

Stryker Corporation

Intuitive Surgical, Inc.

GE Healthcare

Swisslog Holding AG

Medtronic Plc.

Tecan Group Ltd.

Accuray, Inc.

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Medical Automation Latest Industry News

On 6 November, 2023, Shadowbox, a prominent figure in healthcare automation solutions, unveiled its pioneering healthcare workflow automation platform specifically designed for imaging centers. This cutting-edge platform redefines the process of order entry and outpatient clinic result management, resulting in cost reduction alongside heightened efficiency, precision, and improved patient care standards.

In 2022, Becton, Dickinson, and Company (BD), a medical technology company announced the acquisition of Parata Systems for USD 1.5 billion. Arata Systems offers workflow and conformance packaging tools, high-speed robotic dispensers, inventory management software, and others.

Medical Automation Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global medical automation market on the basis of component, application, type, end-use, and region:

Component Outlook (Revenue, USD Billion; 2019-2032)

Equipment

Capital equipment

Consumables

Software

Services

Application Outlook (Revenue, USD Billion; 2019-2032)

Imaging

Therapeutic

Laboratory and pharmacy

Informatics

Medical software

Others

Type Outlook (Revenue, USD Billion; 2019-2032)

Computed Tomography (CT)

Ultrasound

Magnetic Resonance Imaging (MRI)

C-arm system

Automated imaging

Sample preparation

Others

End-Use Outlook (Revenue, USD Billion; 2019-2032)

Hospitals & diagnostic centers

Research laboratories & institutes

Pharmacies

Others

Regional Outlook (Revenue, USD Billion; 2019–2032)

North America

U.S.

Canada

Europe

Germany

France

UK

Italy

Spain

Benelux

Russia

Rest of Europe

Asia Pacific

China

Japan

South Korea

India

ASEAN Countries

Oceania

Rest of APAC

Latin America

Brazil

Mexico

Rest of LATAM

Middle East & Africa

GCC Countries

Israel

Turkey

South Africa

Rest of Middle East & Africa

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