OTTAWA, Sept. 21, 2022 (GLOBE NEWSWIRE) — Recent report on “Healthcare Automation Market (By Product; By End-User) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook and Forecast 2022-2030”.
Continuous advancement of technology in automation solution, increasing government support in healthcare automation funding, rising labor cost as well as increasing demand for repeatability and accuracy are some of the significant factors driving healthcare automation market growth in terms of value sale. Furthermore, the increasing demand for the use of automation in pharmacies and laboratories along with the high potential for rapid detection and treatment of the diseases are other key factors that offer immense growth opportunities for the overall healthcare automation market. However, the high price of medical automation is likely to restrain the growth of the market in terms of value revenue.
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Developing countries in Asia Pacific such as China and India are expected to be the lucrative market for the major players involved in the growth and marketing medical automated solutions to the medical industry. In addition, increasing number of aging population, increasing prevalence of chronic diseases such as diabetes, cardiovascular disease, cancer, orthopedic diseases and others, increasing clinical investigations and rising government spending on life sciences and health research are some of the main factors driving the growth of the overall healthcare automation market in emerging markets.
In addition, the major market players are increasingly adopting new product formulations and launches, product approvals, collaborations and other development strategies to maintain their market dominance. Likewise, in 2014, one of the most important market players called Tecan Group Ltd. the modification as well as the new product as one of its development strategies to maintain its position in the healthcare automation industry.
report highlights
- Based on the applicationThe therapeutic automation segment holds the largest market share in the global market and is expected to maintain its dominance over the forecast period.
- Based on end usersThe Research Institute segment holds the largest market share in the global market.
- By Region, North America holds the largest market share in the global healthcare automation market at 41%.
- However, Asia Pacific is expected to be the fastest growing healthcare automation market.
What is the rightregional effects in the Healthcare Automation Market?
- North America region dominated the healthcare automation market and accounted for the highest market share in 2021. This is due to the continuous improvement of the medical and information technology industries in this region. Increasing government investment in R&D in this region, particularly in the US, is also contributing to the organization’s growth.
- Consumers with high incidences of chronic diseases such as diabetes, cardiovascular disease, cancer and others are also driving the need for government support in healthcare automation technology. Additionally, increasing demand for good medical services as well as increasing preference for automation of diagnostics and monitoring is driving the market growth in the United States
- However, Asia Pacific is expected to be the fastest growing segment during the forecast period. This is due to the proliferation of medical infrastructure, rising consumer awareness and increasing application of automated technology in the medical sector in countries like China, India and others. In addition, the healthcare automation industry is growing due to the increase in geriatric population along with rising cases of chronic diseases, proliferation of medical infrastructure and other factors.
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scope of the report
| report attributes | details |
| Market size in 2021 | $37.8 billion |
| Sales forecast up to 2030 | $91.6 billion |
| Market share in Asia Pacific | 22% in 2021 |
| CAGR | 10.33% from 2022 to 2030 |
| base year | 2021 |
| forecast year | 2022 to 2030 |
| key figures | Siemens AG, Swisslog Holding AG, Koninklijke Philips NV, General Electric Company, Intuitive Surgical, Inc., Stryker Corporation, Medtronic plc, Danaher Corporation, Accuray, Inc. and Tecan Group Ltd. |
market dynamics
driver
Increasing application of healthcare automation in research centers to boost market growth
- In recent years, healthcare automation has provided advanced solutions for pharmacy hospital automation, material handling, logistics and transportation, and other applications. Research institutes and laboratories around the world are increasingly investing in health automation development to carry out various related activities and improve overall work efficiency. Additionally, healthcare automation plays a critical role in research organizations to boost overall productivity in providing medical facilities, improving quality, and more.
- Furthermore, increasing acceptance of healthcare automation by the research organization and laboratories has contributed to the growth of the market in terms of revenue and is expected to provide lucrative opportunities for healthcare automation market growth during the forecast period.
hold back
Insufficient state investments in economically emerging countries hinder market growth
- Insufficient government investment in developing countries like Sri Lanka, Africa, Pakistan and others restricts the growth of the healthcare automation market in these economies. Therefore, health automation manufacturers can work closely with the government to improve investment in the advancement of the technology. By doing so, it helps to strengthen the reliability of both health automation providers and the government. Furthermore, the ongoing “Digital India” movement initiated by the Indian government is playing a crucial role in improving the medical infrastructure as well as the network of medical services in the country.
occasions
Dynamic advances in technology are improving patient outcomes
- The continuous advancement of technology is one of the major factors behind the growth of the healthcare automation market on a global scale. Increasing technological development in research and laboratory automation as well as test and monitoring automation is driving the need for deployment of healthcare automation around the world, thus contributing to the overall market growth in terms of revenue.
- In addition, thanks to the use of data and artificial intelligence, the medical experts have large amounts of medical patient reports that allow them to make important decisions about the treatment of patients. As a result, it is expected that the application of health automation in medical institutions will increase sharply in recent years, improving efficiency and energizing the medical institutions for patients. Therefore, the growth of the market in terms of value selling is strengthened.
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challenges
A shortage of skilled workers and high installation costs limit market growth
- The high installation costs as well as the maintenance costs of healthcare automation and the security and privacy issues are some of the major factors that are hampering the growth of the overall healthcare automation market in terms of value revenue globally. Furthermore, the insignificant configurability of health automation is the factor that is likely to curb the global adoption of health automation systems in the forecast year. In addition, the lack of highly skilled professionals is likely to hamper the growth and implementation of the innovative technology.
market segmentation
By product
- Therapeutic Automation
- Laboratory and pharmacy automation
- Medical logistics & training automation
- Diagnostic and monitoring automation
By end users
- hospital
- research institutes
- Home/Outpatient Care
- diagnostic center
According to geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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