What Is The Current and Historic Market Size Analysis Of The Medical Automation Technologies Market?
The medical automation technologies market has seen considerable growth due to a variety of factors.
• The medical automation technologies market has experienced significant growth in recent years. It will rise from $6.27 billion in 2024 to $7.07 billion in 2025, with a CAGR of 12.8%.
Key growth drivers include digitization in healthcare, increased focus on patient empowerment, the healthcare worker shortage, and the growing importance of preventive care.
What are the Market Size and Expected Growth Rates for the Medical Automation Technologies Market?
The medical automation technologies market is expected to maintain its strong growth trajectory in upcoming years.
• The medical automation technologies market is expected to grow to $11.31 billion by 2029 at a CAGR of 12.5%.
Growth is due to the demand for minimally invasive procedures, remote monitoring, hospital optimization, value-based care, and increased awareness of automation's advantages. Trends include robotic surgery, AI in diagnostics, telemedicine and remote monitoring, automation in drug discovery, and smart hospitals.
Which Key Drivers Are Propelling The Medical Automation Technologies Market's Growth?
The increasing prevalence of chronic diseases is also expected to boost the medical automation technology market. Chronic diseases require ongoing management and medical automation technology enhances this through personalized treatment, remote monitoring, and data analysis, improving patient outcomes. In September 2024, the British Heart Foundation reported that 7.6 million people in the UK suffer from heart and circulatory diseases, with numbers expected to rise in the coming years, driving demand for medical automation technologies.
What Are The Key Segments Within The Global Medical Automation Technologies Market?
The medical automation technologies market covered in this report is segmented –
1) By Type: Diagnostic And Monitoring Operations, Therapeutic Automation, Lab And Pharmacy Automation, Home Healthcare Automation
2) By Application: Imaging And Radiology, Clinical Chemistry Analysis, Vital Signs Monitoring, Surgery And Rehabilitation
3) By End Use: Hospitals And Diagnostics Centers, Research Institutes And Laboratories, Homecare Settings
Subsegments:
1) By Diagnostic And Monitoring Operations: Diagnostic Imaging Automation, Patient Monitoring Systems Automation, Laboratory Diagnostic Automation, Remote Patient Monitoring
2) By Therapeutic Automation: Robotic Surgery Systems, Infusion Pumps And Automated Drug Delivery, Automated Rehabilitation Devices, Radiotherapy Automation
3) By Lab And Pharmacy Automation: Automated Laboratory Equipment, Pharmacy Dispensing Automation, Automated Sample Handling And Analysis, Robotic Pharmacy Solutions
4) By Home Healthcare Automation: Remote Health Monitoring Devices, Wearable Health Devices, Home Care Robotics, Automated Medication Management Systems
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What New Trends Are Influencing The Medical Automation Technologies Market?
Prominent businesses in the medical automation technologies market are embracing cutting-edge technologies like AI-driven medical coding to boost their earnings. This refers to the use of artificial intelligence systems to auto-assign precise medical codes to patient diagnoses, therapeutic interventions, and procedures. This improves healthcare invoicing and administrative duties by reducing errors and enhancing productivity. For example, CorroHealth Inc., a US-based medical technology company, debuted Pulse in December 2023. This is an incredible innovation in the automation of medical codes, and with its adaptive learning abilities and on-the-spot insights, the coding accuracy is consistently enhanced. Its design prioritizes refinement of procedures, upping productivity, and unparalleled value provision to healthcare professionals. It seamlessly integrates with any electronic health record (EHR) system and is fully customized to the unique necessities of every healthcare establishment.
Who Are the Key Players In The Medical Automation Technologies Market?
Major companies operating in the medical automation technologies market are:
• Johnson & Johnson Services Inc.
• F. Hoffmann-La Roche AG
• Thermo Fisher Scientific Inc.
• Abbott Laboratories
• Medtronic plc
• Danaher Corporation
• Siemens Healthineers AG
• Koninklijke Philips N.V.
• Becton Dickinson and Co
• GE HealthCare Technologies Inc.
• Boston Scientific Corporation
• Zimmer Biomet Holdings Inc.
• Olympus Corporation
• Terumo Corporation
• Intuitive Surgical Inc.
• Oracle Cerner
• Hologic Inc.
• Illumina Inc.
• Mindray Medical International Limited
• Nikon Corporation
• Sysmex Corporation
• Bio Rad Laboratories Inc.
• QIAGEN N.V.
• Carl Zeiss Meditec AG
• Yuyama Co Ltd.
What Are The Regional Insights Into The Medical Automation Technologies Market?
North America was the largest region in the medical automation technologies market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical automation technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
