What Has Driven the Growth of the Healthcare Automation Market in Recent Years?
The healthcare automation market has seen considerable growth due to a variety of factors.
• Recently there has been a swift expansion in the healthcare automation market size. It is projected to escalate from $72.59 billion in 2024 to $80.38 billion in 2025, with a compound annual growth rate (CAGR) of 10.7%.
Factors contributing to this growth in the historic period include regulatory compliance, patient safety, amplified ehr adoption, operational efficiency, and medical device integration.
What is the Market Size Forecast for the Healthcare Automation Market?
The healthcare automation market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for healthcare automation is projected to experience swift expansion in the upcoming years, culminating in a value of $129.37 billion by 2029, following a compound annual growth rate (CAGR) of 12.6%.
The estimated growth within this forecast period can be linked to factors such as population health management, medication management, precision medicine, preparedness for pandemics, and an overall increase in the aging population. The forecast period is also expected to witness key trends such as the deployment of robotics in healthcare, the utilization of artificial intelligence (AI) in diagnostic procedures, the application of blockchain for securing health data, the use of the internet of things (IoT) in healthcare, and the advent of smart hospitals.
Which Factors Are Boosting Growth In The Healthcare Automation Market?
The surge in the adoption of automation is playing a significant role in boosting the healthcare automation market. This refers to incorporating advanced solutions in healthcare establishments. These facilities are integrating healthcare automation to enhance operational efficiency and synchronize tasks. For example, the Netherlands-based international conglomerate corporation, Koninklijke Philips N.V, unveiled the Future Health Index 2023 Australian report in July 2023, the most comprehensive global survey for healthcare. It revealed that around 47% of healthcare chiefs are employing automation to better patient procedures, such as computerizing appointment scheduling. On the other hand, 43% are deploy it to refine internal procedures, including mechanizing administrative chores and enhancing workflows. Hence, the acceleration in automation adoption is predicted to fuel the growth of the healthcare automation market in the future.
What Key Areas Define The Segmentation Of The Global Healthcare Automation Market?
The healthcare automation market covered in this report is segmented –
1) By Component: Equipment, Software, Services
2) By Application: Therapeutic Automation, Lab And Pharmacy Automation, Logistics And Training Automation, Diagnostics And Monitoring Automation, Other Applications
3) By End-User: Pharmacies, Research Institutes And Labs, Home Care, Other End-Users
Subsegments:
1) By Equipment: Automated Laboratory Equipment, Pharmacy Automation Systems, Surgical Robots, Point-Of-Care Testing Devices
2) By Software: Laboratory Information Management Systems (LIMS), Electronic Health Records (EHR) Systems, Workflow Management Software, Clinical Decision Support Systems (CDSS)
3) By Services: Consulting Services, Integration Services, Maintenance And Support Services, Training Services
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How Are Emerging Trends Reshaping The Dynamics Of The Healthcare Automation Market?
The advancement of artificial intelligence (AI) has surfaced as the principal trend acquiring substantial prominence in the healthcare automation industry. Key industry players in healthcare automation are intensifying their focus on integrating AI into healthcare, which assists healthcare providers in various facets of patient care and administrative tasks. For example, in August 2023, Innovaccer Inc., an American healthcare data platform firm, unveiled the AI Automation Suite, Sara for Healthcare. This distinctive range of AI solutions will facilitate population health management, customer relationship management, value-based care, self-serve analytics, and care management and coordination by employing AI's capabilities, all while preserving the safety, precision, security, adherence, and scalability that are unique to healthcare IT needs.
Who Are the Key Players in the Healthcare Automation Market?
Major companies operating in the healthcare automation market include:
• 3M Company
• Accuray Inc.
• Aetna Inc.
• Allscripts Healthcare Solutions
• Becton Co.
• Cerner Corporation
• Danaher Corporation
• Dickinson and Company
• General Electric Company
• International Business Machines Corporation
• Intuitive Surgical Inc.
• Koninklijke Philips N.V.
• McKesson Corporation
• MedeAnalytics
• Medtronic plc
• OptumHealth
• Oracle Corporation
• Stryker Corporation
• Swisslog Holding AG
• Tecan Group Ltd.
• Truven Health Analytics Pvt. Ltd.
• UnitedHealth Group Incorporated
• Verisk Analytics Inc.
• Abbott Laboratories
• Agilent Technologies
• Athenahealth
• Capsule Technologies Inc.
• Change Healthcare Co.
• Elekta
• Epic Systems Corporation
• Hologic Co.
• IBM Watson Health
What Is The Most Dominant Region In The Healthcare Automation Market?
North America was the largest region in the healthcare automation market in 2024. The regions covered in the healthcare automation market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
