Medical Automation Market
PUBLISHED: 2023 ID: SMRC22307
SHARE
SHARE

Medical Automation Market

Medical Automation Market Forecasts to 2028 - Global Analysis By Type (Diagnostic & Monitoring Automation, Therapeutic Automation, Lab & Pharmacy Automation and Medical Logistics & Training), Component (Equipment, Service and Software), Connectivity (Wired and Wireless), End User (Hospitals and Diagnostic Centers, Pharmacy, Research Labs & Institutes, Homecare, Diagnostic Center, Ambulatory Surgical Centers (ASCS) and Other End Users) and Geography

4.5 (73 reviews)
4.5 (73 reviews)
Published: 2023 ID: SMRC22307

This report covers the impact of COVID-19 on this global market
Loading...

Years Covered

2020-2028

Estimated Year Value (2022)

US $44.44 BN

Projected Year Value (2028)

US $83.30 BN

CAGR (2022 - 2028)

11.04%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Europe

According to Stratistics MRC, the Global Medical Automation Market is accounted for $44.44 billion in 2022 and is expected to reach $83.30 billion by 2028 growing at a CAGR of 11.04% during the forecast period. Medical automation increases control, which improves operational growth and the patient experience. There are many benefits to medical automation, including fewer human errors, better patient monitoring & management, increased clinical precision, and quicker data retrieval. The rising incidence of chronic diseases, as well as the expanding pharmaceutical and biotechnology industries, are all factors contributing to the expansion of the global market for medical automation. Additionally, the growing demand for robotic surgery is a factor in the expansion of the global market.

According to the Centers for Disease Control and Prevention (CDC), in 2018, 1,708,921 new cancer cases were reported, with 599,265 people dying of cancer in the US.


Market Dynamics:

Driver:

Increasing prevalence of chronic diseases

Better diagnostics and therapeutics are becoming more essential as chronic diseases like cancer and diabetes become more popular. Chronic diseases are diagnosed and treated properly earlier because of automation in medical procedures. The automation of customary practises for the management and treatment of chronic diseases is the alternative to the growing demand currently occurring throughout the world in light of the technological advancements in the healthcare sector. To aid in the management of chronic diseases, there are various tools available, including sensors and apps. It has the capacity to track stress levels, heartbeats, and breathing.

Restraint:

High cost of automation

During the forecast period, the medical automation market's growth may be constrained by the high cost of automation in the healthcare industry, which is a significant affordability factor. It's expensive to adopt automation in the medical world, and expanding businesses might not be able to afford it. The technology of laboratory automation is only available to large, for-profit organizations due to the high cost of implementing it. Furthermore, the cost of medical automation takes into consideration maintenance and auxiliary costs. To increase their production life, the automation machines should receive the proper maintenance and servicing. As a result, the organisation is being financially burdened. It is anticipated that the high cost of automation systems and their maintenance will restrain the growth of the global medical automation market over the forecast period.

Opportunity:

Growing need for medical automation

Automation in the medical field can accelerate patient access to better care. A 2020 survey revealed that 90% of significant healthcare organisations around the world claimed to have an AI and automation strategy, up from 53% in 2019. Automation in the healthcare sector has the potential to save lives. The idea of medical care facilities has transformed as automation becomes more widely accepted in the healthcare industry. Since it minimises the possibility of human error and fatigue, it can vastly enhance quality and consistency. Additionally, healthcare automation in medicine allows for early disease detection, which facilitates early treatment and slows the progression of disease.

Threat:

Insufficient government investment in economically developing nations

The growth of the medical automation market in these economies is being constrained by insufficient government investment in developing nations like Sri Lanka, Africa, Pakistan, and other areas. In order to increase government investment in technological advancement, healthcare automation manufacturers can collaborate with the government. As a result, it aids in boosting the credibility of the government and healthcare automation providers. Additionally, the ongoing "Digital India" Movement, which was originated by the Indian government, has a big impact on developing the nation's medical network and infrastructure.

Covid-19 Impact:

Many healthcare systems are seeing an increase in demand for medical automation systems as a result of the COVID-19 pandemic. Healthcare professionals can now provide better services owing to medical automation. Automation and artificial intelligence solutions had an impact during the pandemic by streamlining workflows and assisting in lowering clinician burnout because staffing and supplies were scarce. By automating and coordinating particular care tasks, it also decreased the number of close encounters that could lead to coronavirus exposure.

The therapeutic automation segment is expected to be the largest during the forecast period

Owing to the expansion of surgical automation, the therapeutic automation segment is expected to hold the largest market share during the forecast period. This is the result of a combination of technological advancements and an increase in the strategic initiatives taken by the businesses. For instance, strategic initiatives from organisations like the BPCI, CJR, and advanced value-based reimbursement models have allowed manufacturers to provide supplemental products and services that will successfully broaden the continuum of care.

The hospitals and diagnostic centers segment is expected to have the highest CAGR during the forecast period

Due to the increasing use of automated equipment in diagnostics, treatment, and laboratories, hospitals and diagnostic centres commanded the highest growth rate in 2022 and is anticipated to have the highest CAGR during the forecast period. Furthermore, automation in hospitals, particularly in tier 2 and tier 3 cities of Asia Pacific's expanding economies, including India, is a factor driving the growth of this industry in this segment. For instance, organisations in India such as Apollo and Fortis are working to provide computerised healthcare services that are operational in tier 2 and tier 3 towns.

Region with largest share:

Due to significant government initiatives, product launches, and R&D expenditures, North America dominated the worldwide market during the forecast period. Furthermore, the expansion can be attributed to the region's developed healthcare infrastructure, which has increased the use of laboratory automation there. Additionally, the favourable reimbursement structure and the regional presence of significant players in this region are promoting the market penetration of novel solutions. Moreover, the demand for high-quality medical services, robotic surgery, and diagnostics & monitoring automation is growing in the U.S., which is boosting market expansion in this region.

Region with highest CAGR:

Because of the rising demand for technology-driven systems, the presence of major players, and the region's established and advanced healthcare infrastructure, the Europe medical automation market is anticipated to grow at the highest CAGR during the projection period. Furthermore, the existence of government organisations like the Medicines and Healthcare Products Regulatory Agency is essential in certifying pharmacy automation systems and other devices with European standards, which is anticipated to provide growth opportunities in the upcoming years for this regional market.


Key players in the market

Some of the key players in Medical Automation market include Siemens Healthcare GMBH, Koninklijke Philips N.V., Medtronic, GE Healthcare, Accuray Incorporated, Asahi kasei medical co., ltd, Asteres inc., Baxter, Brainlab AG, Cardinal Health, Hollysys Asia Pacific PTE Ltd, Johnson & Johnson Services, Inc and 3M.

Key Developments:

In January 2020, Siemens Healthcare GmbH had launched ACUSON Redwood Ultrasound system at IRIA 2020 Indian Radiological and Imaging Association. The system is device on the company’s new platform base that features more advanced applications for higher clinical confidence. This product launch is estimated to bolster company’s product portfolio and growth pace.

Types Covered:
• Diagnostic & Monitoring Automation
• Therapeutic Automation
• Lab & Pharmacy Automation
• Medical Logistics & Training

Components Covered:
• Equipment
• Service
• Software

Connectivities Covered:
• Wired
• Wireless

End Users Covered:
• Hospitals and Diagnostic Centers
• Pharmacy
• Research Labs & Institutes
• Homecare
• Diagnostic Center
• Ambulatory Surgical Centers (ASCS)
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Medical Automation Market, By Type
5.1 Introduction
5.2 Diagnostic & Monitoring Automation
5.2.1 Automated Imaging
5.2.1.1 Capsule Endoscopy
5.2.1.2 Automated Fluoroscopy (C-ARM)
5.2.1.3 Automated Radiography
5.2.1.4 Automated Microscopy
5.2.2 Point of Care Testing (POCT)
5.3 Therapeutic Automation
5.3.1 Surgical Automation
5.3.2 Non-Surgical Automation
5.4 Lab & Pharmacy Automation
5.4.1 Lab Automation
5.4.1.1 Software & Informatics
5.5 Medical Logistics & Training
5.5.1 Trainers
5.5.2 Logistic Automation
5.5.2.1 Automated Hospital Pickup & Delivery

6 Global Medical Automation Market, By Component
6.1 Introduction
6.2 Equipment
6.2.1 Standalone Based
6.2.2 Platform Based
6.2.3 Automated Medication Systems
6.2.3.1 Wearable Drug Pumps
6.2.3.2 Implantable Drug Pumps
6.2.4 Intraoperative Imaging Systems
6.2.4.1 Intraoperative Computed Tomography (ICT) Scanners
6.2.4.2 Intraoperative Ultrasound Imaging (IOUS)
6.2.4.3 Intraoperative Magnetic Resonance Imaging (IMRI)
6.2.5 Surgical Simulators
6.2.6 Respiratory Instruments
6.2.6.1 Homecare Devices
6.2.6.2 Ventilators
6.2.6.3 Sleep Apnea
6.2.6.4 Anesthesia Machines
6.2.7 Automated Surgery Instruments
6.2.8 Ophthalmic Surgery Devices
6.2.9 Medical Mattresses, Anti-Decubitus, Lymph Drainage Devices
6.2.10 Dialysis Devices
6.2.11 Automated Dental Devices
6.2.12 Automated Medical Production Machines
6.2.13 Clinical IVD Devices
6.2.14 Automated Pipetting Systems
6.2.15 Automated Sample Handling Systems
6.2.16 Experiment Automation Products
6.2.17 Automated Liquid Handling Systems
6.2.18 Automated Storage & Retrieval Systems
6.2.19 Automated Packaging & Labeling Systems
6.2.20 Automated Hospital Pickup & Delivery Systems
6.2.21 Pneumatic Tube Systems (PTS)
6.2.22 Biopsy System
6.2.22.1 Robotic Biopsy System
6.2.22.2 Automated Biopsy Device
6.2.23 Automated Guided Vehicles (AGVS)
6.2.24 Sensor Tags
6.2.25 Hybrid Systems
6.3 Service
6.4 Software

7 Global Medical Automation Market, By Connectivity
7.1 Introduction
7.2 Wired
7.3 Wireless

8 Global Medical Automation Market, By End User
8.1 Introduction
8.2 Hospitals and Diagnostic Centers
8.3 Pharmacy
8.4 Research Labs & Institutes
8.5 Homecare
8.6 Diagnostic Center
8.7 Ambulatory Surgical Centers (ASCS)
8.8 Other End Users

9 Global Medical Automation Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa

10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies

11 Company Profiling
11.1 Siemens Healthcare GMBH
11.2 Koninklijke Philips N.V.
11.3 Medtronic
11.4 GE Healthcare
11.5 Accuray Incorporated
11.6 Asahi kasei medical co., ltd
11.7 Asteres inc.
11.8 Baxter
11.9 Brainlab AG
11.10 Cardinal Health
11.11 Hollysys Asia Pacific PTE Ltd
11.12 Johnson & Johnson Services, Inc
11.13 3M

List of Tables
1 Global Medical Automation Market Outlook, By Region (2020-2028) ($MN)
2 Global Medical Automation Market Outlook, By Type (2020-2028) ($MN)
3 Global Medical Automation Market Outlook, By Diagnostic & Monitoring Automation (2020-2028) ($MN)
4 Global Medical Automation Market Outlook, By Automated Imaging (2020-2028) ($MN)
5 Global Medical Automation Market Outlook, By Point of Care Testing (POCT) (2020-2028) ($MN)
6 Global Medical Automation Market Outlook, By Therapeutic Automation (2020-2028) ($MN)
7 Global Medical Automation Market Outlook, By Surgical Automation (2020-2028) ($MN)
8 Global Medical Automation Market Outlook, By Non-Surgical Automation (2020-2028) ($MN)
9 Global Medical Automation Market Outlook, By Lab & Pharmacy Automation (2020-2028) ($MN)
10 Global Medical Automation Market Outlook, By Lab Automation (2020-2028) ($MN)
11 Global Medical Automation Market Outlook, By Medical Logistics & Training (2020-2028) ($MN)
12 Global Medical Automation Market Outlook, By Trainers (2020-2028) ($MN)
13 Global Medical Automation Market Outlook, By Logistic Automation (2020-2028) ($MN)
14 Global Medical Automation Market Outlook, By Component (2020-2028) ($MN)
15 Global Medical Automation Market Outlook, By Equipment (2020-2028) ($MN)
16 Global Medical Automation Market Outlook, By Standalone Based (2020-2028) ($MN)
17 Global Medical Automation Market Outlook, By Platform Based (2020-2028) ($MN)
18 Global Medical Automation Market Outlook, By Automated Medication Systems (2020-2028) ($MN)
19 Global Medical Automation Market Outlook, By Intraoperative Imaging Systems (2020-2028) ($MN)
20 Global Medical Automation Market Outlook, By Surgical Simulators (2020-2028) ($MN)
21 Global Medical Automation Market Outlook, By Respiratory Instruments (2020-2028) ($MN)
22 Global Medical Automation Market Outlook, By Automated Surgery Instruments (2020-2028) ($MN)
23 Global Medical Automation Market Outlook, By Ophthalmic Surgery Devices (2020-2028) ($MN)
24 Global Medical Automation Market Outlook, By Medical Mattresses, Anti-Decubitus, Lymph Drainage Devices (2020-2028) ($MN)
25 Global Medical Automation Market Outlook, By Dialysis Devices (2020-2028) ($MN)
26 Global Medical Automation Market Outlook, By Automated Dental Devices (2020-2028) ($MN)
27 Global Medical Automation Market Outlook, By Automated Medical Production Machines (2020-2028) ($MN)
28 Global Medical Automation Market Outlook, By Clinical IVD Devices (2020-2028) ($MN)
29 Global Medical Automation Market Outlook, By Automated Pipetting Systems (2020-2028) ($MN)
30 Global Medical Automation Market Outlook, By Automated Sample Handling Systems (2020-2028) ($MN)
31 Global Medical Automation Market Outlook, By Experiment Automation Products (2020-2028) ($MN)
32 Global Medical Automation Market Outlook, By Automated Liquid Handling Systems (2020-2028) ($MN)
33 Global Medical Automation Market Outlook, By Automated Storage & Retrieval Systems (2020-2028) ($MN)
34 Global Medical Automation Market Outlook, By Automated Packaging & Labeling Systems (2020-2028) ($MN)
35 Global Medical Automation Market Outlook, By Automated Hospital Pickup & Delivery Systems (2020-2028) ($MN)
36 Global Medical Automation Market Outlook, By Pneumatic Tube Systems (PTS) (2020-2028) ($MN)
37 Global Medical Automation Market Outlook, By Biopsy System (2020-2028) ($MN)
38 Global Medical Automation Market Outlook, By Automated Guided Vehicles (AGVS) (2020-2028) ($MN)
39 Global Medical Automation Market Outlook, By Sensor Tags (2020-2028) ($MN)
40 Global Medical Automation Market Outlook, By Hybrid Systems (2020-2028) ($MN)
41 Global Medical Automation Market Outlook, By Service (2020-2028) ($MN)
42 Global Medical Automation Market Outlook, By Software (2020-2028) ($MN)
43 Global Medical Automation Market Outlook, By Connectivity (2020-2028) ($MN)
44 Global Medical Automation Market Outlook, By Wired (2020-2028) ($MN)
45 Global Medical Automation Market Outlook, By Wireless (2020-2028) ($MN)
46 Global Medical Automation Market Outlook, By End User (2020-2028) ($MN)
47 Global Medical Automation Market Outlook, By Hospitals and Diagnostic Centers (2020-2028) ($MN)
48 Global Medical Automation Market Outlook, By Pharmacy (2020-2028) ($MN)
49 Global Medical Automation Market Outlook, By Research Labs & Institutes (2020-2028) ($MN)
50 Global Medical Automation Market Outlook, By Homecare (2020-2028) ($MN)
51 Global Medical Automation Market Outlook, By Diagnostic Center (2020-2028) ($MN)
52 Global Medical Automation Market Outlook, By Ambulatory Surgical Centers (ASCS) (2020-2028) ($MN)
53 Global Medical Automation Market Outlook, By Other End Users (2020-2028) ($MN)

Note: Tables for North America, Europe, Asia Pacific, South America and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.

WHY CHOOSE US ?

Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.

Testimonials