The medical automation market is poised for remarkable growth, with an anticipated value surpassing USD 44.45 billion in 2022. Projections indicate a robust compound annual growth rate (CAGR) of 10.6% from 2023 to 2033.
Several key factors are driving this growth, including the increasing adoption of automated instruments by pharmaceutical drug discovery departments, a growing demand for miniaturization, and ongoing technological advancements that are complemented by a rising need for robot-assisted surgeries.
The rising prevalence of chronic diseases such as cancer, diabetes, and others, as well as the developing pharmaceutical and biotechnology sector, increased demand for robotic surgery, and rising healthcare expenditure, are all driving market growth. The high expense of automation, the risks associated with robotic surgery, and the requirement for physician training, on the other hand, are expected to hinder industry growth.
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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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