The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Healthcare Automation Global Market Report 2024, the healthcare automation market is expected to show promising growth in the forecast period.

The healthcare automation market has witnessed substantial growth in recent years, with the market size projected to increase from $64.93 billion in 2023 to $72.14 billion in 2024, boasting a compound annual growth rate (CAGR) of 11.1%. This growth is attributed to various factors, including regulatory compliance, patient safety, increased adoption of electronic health records (EHR), operational efficiency, and the integration of medical devices.

Driving Forces Behind Automation Adoption

• Regulatory Compliance and Patient Safety: Automation supports adherence to regulatory standards and enhances patient safety measures.
• Increased EHR Adoption: The rising use of electronic health records contributes to the demand for automation in healthcare facilities.
• Operational Efficiency: Automation streamlines activities, leading to improved overall work efficiency.
• Medical Device Integration: Integration of medical devices enhances the effectiveness of healthcare automation solutions.

Cost Savings Through Automation

• According to Dignity Health, the healthcare industry has saved $122 billion in administrative expenses through automation.
• Continued adoption of Robotic Process Automation (RPA) solutions is considered by 30% of healthcare industry players, potentially leading to additional savings.

Key Players in Healthcare Automation

• Major companies operating in the healthcare automation market include 3M Company, Cerner Corporation, General Electric Company, McKesson Corporation, Siemens Healthineers, and many others.
• These companies play a vital role in shaping the landscape of healthcare automation, offering innovative solutions and driving market growth.

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Artificial Intelligence Revolutionizes Healthcare Automation Market
One of the significant trends shaping the healthcare automation market is the adoption of artificial intelligence (AI). Major players in the sector are focusing on integrating AI to enhance patient care and streamline administrative operations. Innovaccer Inc., a US-based healthcare data platform company, launched the AI Automation Suite, Sara for Healthcare, in August 2023, providing solutions for population health management, customer relationship management, value-based care, self-serve analytics, and care management and coordination.

AI’s Impact on Patient Care and Operations

• The use of AI in healthcare automation aids healthcare providers in various aspects of patient care and administrative tasks.
• Innovaccer’s AI Automation Suite, Sara for Healthcare, ensures safety, accuracy, security, compliance, and scalability specific to healthcare information technology (IT) needs.

Siemens Healthineers Expands Healthcare Automation Portfolio
In April 2021, Siemens Healthineers AG acquired Varian Medical Systems Inc., a US-based radiation oncology treatment and software company, for an undisclosed amount. This strategic acquisition aimed to strengthen the partnership between Varian and Siemens Healthineers, creating a comprehensive digital, diagnostic, and therapeutic ecosystem, including treatment management.

Varian Medical Systems’ Role in Healthcare Automation

• Varian Medical Systems specializes in radiation oncology treatment and software, contributing to Siemens Healthineers’ healthcare automation portfolio.
• The acquisition underscores the industry’s commitment to advancing digital solutions for improved patient outcomes.

Healthcare Automation Market Segmentation
The healthcare automation market is segmented based on components, applications, and end-users.

Market Segments

1. Components: Equipment, Software, Services
2. Applications: Therapeutic Automation, Lab And Pharmacy Automation, Logistics And Training Automation, Diagnostics And Monitoring Automation, Other Applications
3. End-Users: Pharmacies, Research Institutes And Labs, Home Care, Other End-Users

North America’s Leadership in Healthcare Automation
In 2023, North America emerged as the largest region in the healthcare automation market, highlighting the region’s advanced healthcare infrastructure and extensive adoption of automation technologies. The dominance of North America is expected to persist, further shaping the global landscape of healthcare automation.

In conclusion, the surge in automation adoption, integration of artificial intelligence, strategic acquisitions, and market segmentation are driving the rapid growth of the healthcare automation market. As the industry continues to evolve, stakeholders should stay abreast of emerging trends to harness the full potential of automation for improved healthcare outcomes.

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