Global Medical Automation Industry on Track for 7.8% CAGR, Anticipating a Milestone US$ 103,052.3 Million Market by 2033 | FMI

Global Medical Automation Industry

The Global Medical Automation Industry is on the brink of an extraordinary surge, with projections pointing to an estimated valuation of US$ 48,626.2 million in 2023, poised to ascend to an impressive US$ 103,052.3 million by 2033. This unprecedented growth trajectory is underpinned by a robust Compound Annual Growth Rate (CAGR) of 7.8% during the forecast period.

The healthcare landscape is undergoing a transformative shift, with the global medical automation market leading the charge in this revolutionary journey. The amalgamation of cutting-edge technology and innovative healthcare solutions is creating a pathway 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, labeling, 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.

Global Medical Automation Industry 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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Global Medical Automation Industry Competitive Landscape-

The major players in the Global Medical Automation Industry 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

Global Medical Automation Industry 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, a 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 Global Medical Automation Industry 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 is 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 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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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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