Medical Automation Industry’s Robust 10.6% CAGR Propels it to US$102.4 Billion by 2033 | FNI reveals

The global medical automation industry is on the brink of a remarkable surge, with an anticipated value exceeding USD 44.45 billion in 2022. Projections reveal a robust compound annual growth rate (CAGR) of 10.6% from 2023 to 2033.

Key drivers of this phenomenal growth include the rising adoption of automated instruments by pharmaceutical drug discovery departments, a growing demand for miniaturization, and continuous technological advancements complemented by an increasing need for robot-assisted surgeries.

The increasing prevalence of chronic diseases, such as cancer and diabetes, coupled with the flourishing pharmaceutical and biotechnology sector, an upsurge in demand for robotic surgery, and augmented healthcare expenditure, are all significant factors propelling market expansion.

However, the industry is not without its challenges. High automation costs, the inherent risks of robotic surgery, and the necessity for extensive physician training are expected to act as growth inhibitors.

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Despite these challenges, the advantages of automated systems, such as the automation of time-consuming tasks like sampling, quality monitoring, packaging, labelling, and scanning of medicines and devices, have reduced human efforts while increasing speed and accuracy, leading to a greater reliance on these systems.

Furthermore, the rising global prevalence of chronic illnesses such as diabetes, cancer, arthritis, and chronic obstructive pulmonary disease (COPD) is driving demand for faster and more productive therapeutic, laboratory, and pharmacy-automated pharmaceutical systems.

Key Takeaways-

• In 2021, North America had the largest market share in the healthcare automation business.
• The therapeutic automation sector now holds the biggest worldwide market share and is likely to continue this position during the forecast period.
• The Research Institution sector has the biggest market share in the global market in terms of end users.
• North America has the greatest market share (41% in the global healthcare automation business) by region.
• Nonetheless, the Asia-Pacific Medical Automation market is expected to develop the fastest.

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Competitive Landscape-

The major players in the Medical Automation market are-

• Accuray, Inc.
• Tecan Group Ltd.
• Medtronic Plc.
• Swisslog Holding AG
• GE Healthcare
• Intuitive Surgical, Inc.
• Stryker Corporation
• Siemens AG
• Koninklijke Philips N.V.
• Danaher Corporation
• Zimmer Biomet

Recent Developments-

• Becton, Dickinson, and Company, a medical technology company, announced a $1.5 billion acquisition of Parata Systems in January 2022. Parata Systems offers inventory management software, the high-speed robotic process for Medical Automation, robotic dispensers, workflow solutions, and adherence packaging tools. Becton, Dickinson’s major mission is to establish pharmacies that assist people live better lives.
• In 2021, Siemens Healthineers AG will acquire Varian Medical Systems, Inc. This is a German medical device company that gives the former greater access to the latter’s large portfolio while also increasing its position in the MedTech market.
• Philips will acquire Capsule Technologies, Inc. in 2021. They serve hospitals and healthcare institutions with medical device integration and data technology. The goal is to strengthen Philips’ position as a leader in patient care management solutions. Capsule Technologies, Inc offers medical device information platforms that include device integration, clinical surveillance services, and vital signs monitoring. Philips’ objective is to use integrated solutions to transform the delivery of healthcare in the health area. It aids in the connectivity of nearly all medical devices as well as EMRs in hospitals.

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Key Segments Profiled in the Medical Automation market Survey

By Application:

• Imaging
• therapeutic
• laboratory and pharmacy
• medical software
• Informatics
• logistics

By end use:

• Hospital and diagnostic center
• Research laboratories & institutes
• Pharmacies
• Others

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