Global Medical Automation Industry Projected to Surge at a 7.8% CAGR, Reaching US$ 103,052.3 Million by 2033 | FMI

The Global Medical Automation Industry is poised for an unprecedented surge, with estimates indicating a valuation of US$ 48,626.2 million in 2023, soaring to an impressive US$ 103,052.3 million by 2033. This remarkable growth trajectory is anticipated to be driven by a robust Compound Annual Growth Rate (CAGR) of 7.8% during the forecast period.

The healthcare landscape is undergoing a transformative shift, and the global medical automation market is at the forefront of this revolution. The convergence of cutting-edge technology and healthcare solutions is paving the way for enhanced patient care, streamlined processes, and improved overall efficiency within the medical sector.

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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

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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