Richmond, Nov. 28, 2023 (GLOBE NEWSWIRE) -- According to a research report "Medical Automation Market, by Application (Imaging, Therapeutic, Laboratory and Pharmacy, Medical Software, Informatics, Logistics), End Use (Hospital and diagnostic center, Research laboratories & institutes, Pharmacies, Others), and Region.
Global Medical Automation Market Report Scope:
| Report | Details |
| Market size value in 2022 | USD 44.2 Billion |
| Market size value in 2030 | USD 83.0 Billion |
| CAGR (2023-2030) | 8.2% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Application, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Medical Automation Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
Medical automation refers to the technology that helps reduce medical errors, encourages better management of many chronic illnesses, and allows medical professionals to delay prognosis. The Medical Automation Market represents a revolutionary intersection of healthcare and technological innovation, embodying the seamless integration of automated processes into various facets of the medical field. At its core, Medical Automation involves the use of advanced technologies, such as robotics, artificial intelligence, and machine learning, to streamline and enhance healthcare processes. This transformative approach seeks to improve efficiency, accuracy, and overall patient outcomes by automating tasks traditionally performed by healthcare professionals. From diagnostics and surgery to pharmacy dispensing and patient monitoring, Medical Automation is reshaping the landscape of healthcare delivery, offering a spectrum of solutions that optimize workflows, reduce human error, and contribute to the advancement of patient care.
Major Vendors in the Global Medical Automation Market:
- Brainlab AG
- Abbott
- QMeds Inc.
- HollySys Group
- SP Automation & Robotics
- Asahi Kasei Medical Co., Ltd.
- Asteres Inc.
- ARxIUM
- MedAvail Technologies, Inc.
- Stereotaxis, Inc.
- Parata Systems, LLC
- 3M
- Accuray Incorporated
- Intuitive Surgical
- Medtronic
- Stryker
- Cardinal Health
- Omnicell, Inc.
- Leica Biosystems Nussloch GmbH
- BD
- Baxter
- iCAD Inc.
- Siemens Healthcare GmbH
- Koninklijke Philips N.V.
- GE Healthcare
- Johnson & Johnson Services, Inc.
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Rising demand for surgical procedures drives the market
The increasing demand for surgical procedures is a significant driver of growth in the medical automation market. As the global population ages and the prevalence of chronic diseases rises, the need for surgical interventions is expected to continue to escalate. This trend is fueling the demand for automated medical devices that can enhance surgical precision, reduce complications, and improve patient outcomes. Surgical robots, a prominent example of medical automation, have revolutionized the field of surgery by offering minimally invasive procedures with superior accuracy, reduced recovery times, and minimized scarring. The growing adoption of surgical robots across various surgical specialties, including gynecology, urology, and cardiology, is propelling the expansion of the medical automation market.
The rising prevalence of minimally invasive surgical (MIS) techniques further contributes to the growth of the medical automation market. MIS procedures offer several advantages over traditional open surgeries, including smaller incisions, reduced pain, and faster healing. The adoption of MIS techniques is increasing due to their patient-centric benefits, and automated medical devices play a crucial role in facilitating these procedures. Furthermore, the advancements in artificial intelligence (AI) and machine learning (ML) are opening up new avenues for innovation in medical automation. AI-powered surgical robots are being developed to enhance surgical precision and decision-making, while ML algorithms are being employed to analyze patient data and provide real-time insights to surgeons. These technological advancements are expected to further drive the growth of the medical automation market.
Market Dynamics
Drivers:
- Rising demand for surgical procedures drives the market
- Rising chronic diseases create expansion
Opportunities:
- Growing support for healthcare organizations
- Increasing demand for more efficient healthcare systems
Growing support for healthcare organizations
The growing support for healthcare organizations to integrate and leverage Medical Automation technologies presents a significant opportunity for the growth of the Medical Automation market. As the healthcare landscape undergoes continuous evolution, the realization of the transformative potential that automation brings to the industry is leading to increased backing from various stakeholders. Medical Automation, involving the application of cutting-edge technologies such as robotics, artificial intelligence, and machine learning, offers a paradigm shift in healthcare delivery, aligning with the broader goals of improving patient outcomes, enhancing operational efficiency, and addressing the complexities of modern healthcare.
The market for Medical Automation is dominated by North America.
North America stands as the dominant force in the Medical Automation market, playing a pivotal role in steering the trajectory of technological advancements and market growth within the healthcare sector. The region's leadership in the Medical Automation market is evident through a combination of factors that collectively contribute to its preeminence in adopting and driving innovation in medical automation technologies. One of the key contributors to North America's dominance in the Medical Automation market is its robust technological infrastructure. The region boasts advanced healthcare systems, research institutions, and a thriving ecosystem of technology companies that actively contribute to the development and integration of automation technologies in healthcare. The synergy between cutting-edge technologies and healthcare expertise positions North America as a frontrunner in implementing and refining medical automation solutions. The U.S. in North America will dominate the market due to the rising use of the elderly population and rising demand from healthcare institutions for automated devices. Additionally, this can be attributed to the region's ongoing advancements in the medical and information technology sectors.
The Hospitals and diagnostic centers Segment is Anticipated to Hold the Largest Market Share During the Forecast Period
Based on end use the Medical Automation market is segmented into Hospital and diagnostic center, Research laboratories & institutes, Pharmacies, Others. Hospitals and diagnostic centres are the dominant end users in the medical automation market, accounting for a significant share of the global market revenue. This dominance is attributed to the comprehensive range of medical services offered by hospitals, their ability to cater to a wide spectrum of patient needs, and the growing demand for automated solutions to enhance efficiency and improve patient care. Hospitals, as the primary providers of inpatient and outpatient healthcare services, are at the forefront of adopting medical automation technologies. The integration of automated systems into hospital operations streamlines administrative tasks, reduces errors, and improves patient safety. Automated medication dispensing systems, robotic-assisted surgery, and computerized patient records are just a few examples of automation technologies widely utilized in hospitals.
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