What Has Been the Growth of the Medical Automation Market So Far?
The medical automation market has seen considerable growth due to a variety of factors.
• The medical automation market has grown rapidly in recent years. It is projected to increase from $55.22 billion in 2024 to $61.43 billion in 2025, at a CAGR of 11.2%.
The growth is attributed to the ongoing digitization of the healthcare industry, pandemics and infectious diseases, patient empowerment, a shortage of healthcare workers, and an emphasis on preventive care.
What Is the Forecasted Market Size and Growth Rate for The Medical Automation Market Size In The Coming Years?
The medical automation market is expected to maintain its strong growth trajectory in upcoming years.
• The medical automation market is projected to grow rapidly to $92.78 billion by 2029 at a CAGR of 10.9%.
The growth is driven by the demand for minimally invasive procedures, remote patient monitoring, hospital optimization, value-based care, and greater awareness of automation's benefits in healthcare. Trends include gene editing, medical imaging adoption, 3D printing, telemedicine, IoT integration, and AI advancements.
What Factors Are Driving Growth In The Medical Automation Market?
The prevalence of chronic diseases is expected to propel the medical automation market. Chronic diseases, such as diabetes and heart disease, are on the rise due to unhealthy lifestyles and aging populations. Medical automation plays a critical role in monitoring and managing these conditions, improving patient care and outcomes. In September 2022, the World Health Organization reported that chronic diseases accounted for 74% of global deaths, driving the need for more efficient healthcare solutions, thereby fueling the medical automation market.
What Are The Main Segments Of The Global Medical Automation Market?
The medical automation market covered in this report is segmented –
1) By Component: Equipment, Capital Equipment, Consumables, Software, Services
2) By Connectivity: Wired, Wireless
3) By Application: Diagnostics And Monitoring, Therapeutics, Lab And Pharmacy Automation, Medical Logistics And Training, Large-Joint Replacement, Spinal Fusion, Other Applications
4) By End User: Hospitals, Diagnostic Center, Pharmacies, Research Laboratories And Institutes, Homecare, Specialty Clinics, Ambulatory Surgical Centers (ASCs), Other End Users
Subsegments:
1) By Equipment: Diagnostic Equipment, Therapeutic Equipment, Monitoring Equipment
2) By Capital Equipment: Surgical Robots, Imaging Systems (MRI, CT Scanners), Patient Lifting Equipment, Automated Laboratory Equipment
3) By Consumables: Test Strips And Kits, Reagents And Chemicals, Single-Use Devices
4) By Software: Healthcare Management Software, Diagnostic Software, Automation Software For Laboratory And Pharmacy Systems, AI Or ML-Based Software Solutions For Medical Diagnostics
5) By Services: Maintenance And Support Services, Consulting Services, Integration And Implementation Services, Training Services
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What Trends Are Reshaping The Future Of The Medical Automation Market?
Dominant players in the medical automation market are zeroing in on the production of ingenious solutions, for instance, clinician-managed mobile applications, as means of accelerating revenue growth. A clinician-managed mobile application is a software tool designed by healthcare practitioners like physicians, nurses, therapists, and other healthcare providers to simplify different aspects of patient care, including communication and management. For example, Augmedix Inc., a US-based company specializing in data services and medical documentation, introduced Augmedix Go in April 2024. This clinician-managed mobile app leverages ambient AI technology and structured data to formulate an entirely automated draft medical note following patient visits to healthcare environments like emergency departments. This automation process streamlines the medical documentation process, enabling healthcare professionals to dedicate more time to patient care by cutting down the time spent on administrative duties like note-taking.
Who Are the Key Players In The Medical Automation Market?
Major companies operating in the medical automation market are:
• Johnson & Johnson Services Inc.
• F. Hoffmann-La Roche AG
• Thermo Fisher Scientific Inc.
• Abbott Laboratories
• Medtronic plc
• Siemens Healthineers AG
• Becton
• Dickinson and Company
• Royal Philips
• Stryker Corporation
• Boston Scientific Corporation
• Zimmer Biomet Holdings Inc.
• Agilent Technologies Inc.
• Terumo Corporation
• Intuitive Surgical Inc.
• Smith & Nephew plc
• Hologic Inc.
• ResMed Inc.
• Bio Rad Laboratories Inc.
• QIAGEN N.V.
• Carl Zeiss Meditec AG
• Masimo Corporation
• Elekta AB
• Tecan Group Ltd.
• Accuray Inc.
What Is The Most Dominant Region In The Medical Automation Market?
North America was the largest region in the medical automation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
