Medical Automation Market is likely to hold a valuation of US$ 77.17 billion by 2032

The Medical Automation Market is gaining traction with a stable CAGR of 5.2% throughout the projection period (2022-2032). Automated patient monitoring systems are gaining success in the healthcare sector which is likely to improve the growth rate of the market.

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Automation technology is the use of control systems and software to independently operate and monitor a mechanised system. These automated systems are used in a variety of industrial processes such as chemicals and materials, food and beverage, healthcare, and others. Automated delivery of medical practises reduces human errors, saves money in the long run, and streamlines the process with better results.

The growing use of point-of-care testing devices such as HIV test kits, pregnancy test kits, and digital blood pressure monitors is expected to drive the growth of the medical automation market.

Key Takeaways

• The rising demand for accuracy and dependability in medical procedures, as well as increased government investment, are some of the key factors driving the medical automation market. Another factor driving high sales in the medical automation market is rising labour costs.
• The medical automation market is divided into several segments based on application, geography, and end-users. The application segment is further subdivided into therapeutic automation market, medical automation market, and lab & pharmacy automation market.
• The medical automation market is further subdivided into automated image analysis, automated imaging, and point of care testing. The automated imaging market is divided into four major segments: automated radiography, automated microscopy, capsule endoscopy, and automated fluoroscopy.
• The lab and pharmacy automation markets can be divided into two categories: lab automation and pharmacy automation. Microplate readers, liquid handling, automated storage and retrieval systems, stand-alone robots, and software and informatics systems are all part of the lab automation market.
• The pharmacy automation market includes automated medication dispensing systems, automated packaging and labelling systems, and automated medication compounding systems.
• End user basis in the medical automation market can be further classified as pharmacies, research laboratories & institutes, hospital, and diagnostic centers and home/ ambulatory, and others. However, strict government regulation for medical device manufacturers globally is likely to hinder the growth of this market.

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Competitive Landscape

iAccuray, Inc., Beckman Coulter, Inc., Asahi Kasei Corp, Carefusion Corp, GE Healthcare, Lifescan, Inc., Medtronic, Inc., Intuitive Surgical Inc., Omnicell, Inc, Roche Holding AG, Philips Healthcare, Siemens Healthcare, St. Jude Medical, Inc., Stanley Black and Decker, Inc, Swisslog Holdings AG, Stryker Corporation, Simsurgery As, Parata Systems LLC are some of the key companies profiled in the full version of the report.

Key players in the medical automation market are collaborating with each other and surging investments by venture capitalists are some of the prominent reasons, which have augmented the demand for medical automation all over the world.

More Insights into the Medical Automation Market

North America is currently expected to hold the largest share of the medical automation market, followed by Europe. These regions have a significant dominance as a result of increased government investments and funding.

In the United States, medical automation in therapy has the largest market share, followed by diagnostics and monitoring and logistics and training.

Countries like India, China, Japan, and Taiwan are anticipated to showcase a phenomenal growth rate in the Asia-Pacific region in the near future. The prominent reason behind an expansion would be a rapid decline in the number of rural laborers, increasing government investments towards automation and economic developments.

In addition to that, the growing demand for automation in research laboratories is further propelling growth in the medical automation market in the Asia-Pacific region.

Healthcare Automation Market – Segmentation

FMI’s study on the global healthcare automation market includes information divided into three segments: application, end-user, and region. Changing industry trends and other market dynamics associated with these segments of the global healthcare automation market are discussed in detail.

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Application         

• Therapeutic Automation
• Lab & Pharmacy Automation
• Logistics & Training Automation
• Diagnostics & Monitoring Automation

End-user   

• Pharmacies
• Research Institutes & Labs
• Home Care
• Others

About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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