The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s healthcare automation market report forecasts the healthcare automation market size to grow to $94.68 Billion by 2027, with a CAGR (compound annual growth rate) of more than 10%.
Learn More On The Healthcare Automation Market Report 2023 – https://www.thebusinessresearchcompany.com/report/healthcare-automation-global-market-report
Healthcare Automation Market Size Forecast
The global healthcare automation market is expected to grow from $57.24 billion in 2022 to $63.41 billion in 2023 at a compound annual growth rate (CAGR) of 10.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The healthcare automation market size is expected to grow to $94.68 billion in 2027 at a CAGR of 10.5%.
North America held the largest healthcare automation market share.
Key Healthcare Automation Market Driver – Increase In Automation Adoption
For instance, in 2021, according to Dignity Health, a California-based not-for-profit public-benefit corporation, the healthcare industry sector has cut administrative expenses by $122 billion as a result of automation and may save an additional $16 billion by fully automating some routine processes. Also, according to Flobotics, a US-based software development company, 30% of the healthcare industry is considering implementing Robotic Process Automation (RPA) solutions in their businesses. Therefore, increased automation adoption is anticipated to propel healthcare automation market growth over the coming years.
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Key Healthcare Automation Market Trend – Adopting Artificial Intelligence
Major players operating in the healthcare automation sector are concentrating their efforts on implementing AI in healthcare to aid healthcare providers in several aspects of patient care and administrative operations. For instance, in May 2020, the Mount Sinai Health System, a US-based hospital network, used artificial intelligence (AI) in conjunction with clinical data and imaging to study COVID-19 patients. They had created a special algorithm that can quickly identify COVID-19 based on the appearance of lung illness in computed tomography (CT) scans of the chest and patient data including symptoms, age, bloodwork, and potential interaction with the virus.
Healthcare Automation Market Segment
1) By Component: Equipment, Software, Services
2) By Application: Therapeutic Automation, Lab And Pharmacy Automation, Logistics And Training Automation, Diagnostics And Monitoring Automation, Other Applications
3) By End-User: Pharmacies, Research Institutes And Labs, Home Care, Other End-Users
Healthcare Automation Market Major Players and Strategies
Major players in the healthcare automation market are Siemens AG, Koninklijke Philips N.V., Medtronic plc, Intuitive Surgical Inc., Stryker Corporation, General Electric Company, Danaher Corporation, Swisslog Holding AG, Accuray Inc., Tecan Group Ltd., Philips N.V., Aetna Inc., Allscripts Healthcare Solutions, Cerner Corporation, Cigna Corporation, OptumHealth, Oracle Corporation, International Business Machines Corporation, Verisk Analytics Inc., MedeAnalytics, McKesson Corporation, Truven Health Analytics, UnitedHealth Group Incorporated, Becton, Dickinson and Company, and 3M Company.
In April 2021, Siemens Healthineers AG, a Germany-based medical device company, acquired Varian Medical Systems Inc. for an undisclosed amount. The acquisition was aimed at strengthening a strategic partnership between Varian and Siemens Healthineers that established a digital, diagnostic, and therapeutic ecosystem including treatment management. Varian Medical Systems Inc. is a US-based radiation oncology treatment and software company operating in healthcare automation.
The Healthcare Automation Global Market Report 2023 covers regional data on healthcare automation market size, healthcare automation market trends and drivers, opportunities, strategies, and healthcare automation market competitor analysis. The countries covered in the healthcare automation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Healthcare automation refers to the use of various modern tools and software that enhance efficiency in the delivery of medical services that help to monitor the safety, security, and health status of the patient.
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