Ottawa, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Recently Published Report on “Healthcare Automation Market (By Product; By End-User) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2030”.
Continuous advancement in the technological in the automation solution, rising assistance of government in funding for healthcare automation, increasing the cost of labor along with rising demand for repeatability as well as fidelity are some of the integral factors that are propelling the healthcare automation market growth in terms of value sales. Additionally, rising demand for the use of automation in pharmacies & laboratories as well as high potentiality for prompt detection & treatment of the diseases are other key factors that are offering immense opportunities for the growth of the overall healthcare automation market. However, high price of the medical automation is likely to restrain the growth of the market in terms of value sales.
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Developing Asia-Pacific nations such as China and India are expected to be the lucrative market for the key players who are engaged in the growth as well as marketing medical automated solutions for the medical industry. Moreover, rising number of ageing population, growing incidence of chronic disease such as diabetes, cardiovascular disease, cancer, orthopedic diseases and others, increasing clinical investigation and rising government spending on life science as well as the healthcare research are some of the prime factors that are fueling the overall healthcare automation market growth in the emerging economies.
Furthermore, the key market players are increasingly adopting new product formulations and introduction, product approvals, collaborations and other development strategies to maintain its dominance in the market. Likewise, in the year 2014, one of the key market players named Tecan Group Ltd., emphasizes on the modification as well as new product as one of its development strategies to maintain its position in the healthcare automation industry.
Report Highlights
- On the basis of Application, the therapeutic automation segment holds the largest market share in the global market and is anticipated to retain its dominance during the forecast period.
- On the basis of end users, Research Institute segment holds the largest market share in the global market.
- By region, North America holds the largest market share 41% in the global healthcare automation market.
- However, Asia-Pacific is expected to be the fastest growing market for the healthcare automation.
What is the regional impact in the healthcare automation market?
- North America region dominated the healthcare automation market, accounting for the highest market share in 2021. This is attributable to the continuous improvement in the medical as well as and information technology industry in this region. The rising investment in R&D by the government in this region especially in the U.S. is also contributing towards the growth of the organization.
- Consumers with high cases of chronic disease such as diabetes, cardiovascular disease, cancer and others are also propelling the requirement for the government assistance in healthcare automation technology. Additionally, the rising demand for good medical services as well as increasing preference for diagnostics & monitoring automation is driving the market growth in the U.S.
- However, Asia-Pacific is expected to be the fastest growing segment during the forecast period. This is attributable to proliferation of medical infrastructure, rising consumer awareness, increasing application of the automated technology in medical sector in countries like China, India and others. Moreover, the healthcare automation industry is also rising owing to the rise in geriatric population along with rising cases of chronic disease, the proliferation of medical infrastructure and others.
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Scope of the Report
| Report Attributes | Details |
| Market Size in 2021 | USD 37.8 Billion |
| Revenue Forecast by 2030 | USD 91.6 Billion |
| Asia Pacific Market Share | 22% in 2021 |
| CAGR | 10.33% from 2022 to 2030 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2030 |
| Key Players | Siemens AG, Swisslog Holding AG, Koninklijke Philips N.V., General Electric Company, Intuitive Surgical, Inc., Stryker Corporation, Medtronic plc, Danaher Corporation, Accuray, Inc., and Tecan Group Ltd. |
Market Dynamics
Drivers
Rising application of healthcare automation in research centers to augment market growth
- In recent years, the healthcare automation is providing advance solution to the pharmacy hospital automation, material handling and logistics & transport and other application. Research institutes & labs all across the world are increasingly investing in the development of healthcare automation to perform various related activities as well as to enhance overall efficiency of the work. Additionally, the healthcare automation plays a vital role in research organizations to strengthen the overall productivity in providing medical facilities, enhancing quality, and others.
- In addition to this, rising adoption of healthcare automation by the research organization & labs has contributed in the growth of the market in terms of value sales and it is also anticipated to offer lucrative opportunities for the growth of the healthcare automation market during the forecast period.
Restrain
Insufficient government investment in economically developing nation to hamper the market growth
- Insufficient government investment in developing countries including Sri Lanka, Africa, Pakistan and others is restricting the growth the healthcare automation market in these economies. Therefore, the healthcare automation manufacturers can closely work with the government to improve the investment in the advancement of the technology. Thereby, it assists in bolstering the reliability of both healthcare automation providers as well as the government. Additionally, ongoing “Digital India” Movement initiated by the Indian government have a vital role in enhancing the medical infrastructure as well as medical services network in the country.
Opportunities
Dynamic Technological Advancements Enhance Patient Outcomes
- The continuous advancement in technological is one of the prime factor fueling the healthcare automation market growth all across the globe. The rising development in technological in research & lab automation as well as testing& monitoring automation is bolstering the requirement for the use of healthcare automation all across the globe thus contributing towards the overall market growth in terms of value sales.
- Moreover, the medical experts have high volumes of patients medical reports easy available owing to the use of Data & Artificial Intelligence which allows them to make important decision to treat patients. Thereby, the application of healthcare automation is anticipated to surge at medical facilities in recent years, improving efficiency, and fueling the medical facilities to the patients. Therefore, bolstering the growth of the market in terms of value sales.
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Challenges
Scarcity of experts and high costs of installation to restrict the market growth
- The high cost of installation as well as maintenance costs of healthcare automation and the security &privacy issues, are some of the major factors that are hampering the growth of the overall healthcare automation market in terms of value sales globally. Furthermore, the insubstantial configurability of the healthcare automation is the factor which is likely to restrain the global proliferation of the healthcare automation systems during the forecast year. Additionally, scarcity of highly skilled professionals is likely to impede the growth & implementation of the innovative technology.
Market Segmentation
By Product
- Therapeutic Automation
- Lab & Pharmacy Automation
- Medical Logistics & Training Automation
- Diagnostics & Monitoring Automation
By End-User
- Hospital
- Research Institutes
- Home/Ambulatory Care
- Diagnostic center
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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