The medical automation technologies market size has grown rapidly in recent years. It will grow from $5.59 billion in 2023 to $6.27 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The expansion observed during the historical period can be attributed to the digitization of the healthcare industry, the impact of pandemics and infectious diseases, the empowerment of patients, the shortage of healthcare workers, and a heightened focus on preventive care.
The medical automation technologies market size is expected to see rapid growth in the next few years. It will grow to $10.06 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The anticipated growth in the forecast period can be attributed to the increasing demand for minimally invasive procedures, remote patient monitoring solutions, optimization of hospital capacity, the transition towards value-based care models, and the growing recognition of the benefits of automation in healthcare. Key trends expected in this period include the advancement of robotic surgery technologies, the integration of artificial intelligence in diagnostics, the expansion of telemedicine and remote monitoring services, automation in drug discovery and development processes, as well as the development of smart hospitals and integrated healthcare systems.
The anticipated rise in chronic diseases is set to drive the growth of the medical automation technology market in the foreseeable future. Chronic diseases, characterized by their prolonged duration and gradual progression, such as diabetes, require ongoing management and treatment to control symptoms and prevent complications. The increasing prevalence of chronic diseases can be attributed to factors such as sedentary lifestyles, poor dietary habits, environmental pollutants, and an aging population. Medical automation technology plays a crucial role in enhancing chronic disease management through personalized treatment plans, remote patient monitoring, and automated data analysis. This improves efficiency and outcomes while alleviating healthcare burdens. For example, the IDF Diabetes Atlas Tenth Edition 2021 report projected a global increase in the number of people aged 20-78 years with diabetes, reaching 643 million by 2030 and 783 million by 2045 from 537 million in 2021. Hence, the growing prevalence of chronic diseases propels the expansion of the medical automation technology market.
Key players in the medical automation technologies market are embracing innovative solutions, such as AI-driven medical coding, to drive revenue growth. AI-driven medical coding involves utilizing artificial intelligence algorithms to automatically assign accurate medical codes to patient diagnoses, treatments, and procedures, streamlining healthcare billing and administrative tasks while minimizing errors and enhancing efficiency. For instance, in December 2023, CorroHealth Inc., a US-based healthcare technology company, introduced Pulse, a groundbreaking advancement in medical coding automation. Pulse incorporates adaptive learning capabilities and real-time insights to continuously enhance coding accuracy. Its user-centric design prioritizes process optimization, productivity enhancement, and value delivery to healthcare practitioners. Seamlessly interfacing with any electronic health record (EHR), Pulse is fully customized to meet the specific needs of each healthcare facility.
In May 2023, Medical Manufacturing Technologies Inc., a US-based medical device manufacturing company, acquired Somex Automation Ltd. for an undisclosed sum. Through this strategic acquisition, Medical Manufacturing Technologies, Inc. aims to bolster its automated medical device production capabilities, improving efficiency, quality, and innovation speed. The company seeks to streamline manufacturing processes, expedite product development, and ensure compliance with regulatory standards. Somex Automation Ltd. is an Ireland-based provider of medical automation technologies.
Major companies operating in the medical automation technologies market are Johnson & Johnson Services Inc., F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Medtronic plc, Danaher Corporation, Siemens Healthineers AG, Koninklijke Philips N.V., Becton Dickinson and Co, GE HealthCare Technologies Inc., Boston Scientific Corporation, Zimmer Biomet Holdings Inc., Olympus Corporation, Terumo Corporation, Intuitive Surgical Inc., Oracle Cerner, Hologic Inc., Illumina Inc., Mindray Medical International Limited, Nikon Corporation, Sysmex Corporation, Bio Rad Laboratories Inc., QIAGEN N.V., Carl Zeiss Meditec AG, Yuyama Co Ltd.
North America was the largest region in the medical automation technologies market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical automation technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the medical automation technologies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Medical automation technologies encompass the application of automated systems, robotics, artificial intelligence, and other advanced technologies in healthcare delivery, diagnosis, treatment, and management. These technologies are designed to streamline processes, enhance efficiency, improve accuracy, and ultimately enhance patient outcomes while mitigating human error and reducing workload.
The primary types of medical automation technologies include diagnostic and monitoring operations, therapeutic automation, lab and pharmacy automation, and home healthcare automation. Diagnostic and monitoring operations involve technologies utilized for disease identification and patient health tracking. The applications of medical automation technologies span across various functions such as imaging and radiology, clinical chemistry analysis, vital signs monitoring, surgery, and rehabilitation. These technologies find utility across various end-user settings including hospitals and diagnostic centers, research institutes and laboratories, as well as homecare settings.
The medical automation technologies market research report is one of a series of new reports that provides medical automation technologies market statistics, including medical automation technologies industry global market size, regional shares, competitors with a medical automation technologies market share, detailed medical automation technologies market segments, market trends and opportunities, and any further data you may need to thrive in the medical automation technologies industry. This medical automation technologies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The medical automation technologies market consists of revenues earned by entities providing services such as electronic health records (EHR) management, patient engagement and education, telemedicine platforms, medical imaging automation, and patient monitoring systems. The market value includes the value of related goods sold by the service provider or included within the service offering. The medical automation technologies market also includes sales of automated vaccine storage and handling systems, automated sterilization systems, automated drug delivery systems, automated external defibrillators (AEDs), and automated laboratory instruments. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The medical automation technologies market size is expected to see rapid growth in the next few years. It will grow to $10.06 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The anticipated growth in the forecast period can be attributed to the increasing demand for minimally invasive procedures, remote patient monitoring solutions, optimization of hospital capacity, the transition towards value-based care models, and the growing recognition of the benefits of automation in healthcare. Key trends expected in this period include the advancement of robotic surgery technologies, the integration of artificial intelligence in diagnostics, the expansion of telemedicine and remote monitoring services, automation in drug discovery and development processes, as well as the development of smart hospitals and integrated healthcare systems.
The anticipated rise in chronic diseases is set to drive the growth of the medical automation technology market in the foreseeable future. Chronic diseases, characterized by their prolonged duration and gradual progression, such as diabetes, require ongoing management and treatment to control symptoms and prevent complications. The increasing prevalence of chronic diseases can be attributed to factors such as sedentary lifestyles, poor dietary habits, environmental pollutants, and an aging population. Medical automation technology plays a crucial role in enhancing chronic disease management through personalized treatment plans, remote patient monitoring, and automated data analysis. This improves efficiency and outcomes while alleviating healthcare burdens. For example, the IDF Diabetes Atlas Tenth Edition 2021 report projected a global increase in the number of people aged 20-78 years with diabetes, reaching 643 million by 2030 and 783 million by 2045 from 537 million in 2021. Hence, the growing prevalence of chronic diseases propels the expansion of the medical automation technology market.
Key players in the medical automation technologies market are embracing innovative solutions, such as AI-driven medical coding, to drive revenue growth. AI-driven medical coding involves utilizing artificial intelligence algorithms to automatically assign accurate medical codes to patient diagnoses, treatments, and procedures, streamlining healthcare billing and administrative tasks while minimizing errors and enhancing efficiency. For instance, in December 2023, CorroHealth Inc., a US-based healthcare technology company, introduced Pulse, a groundbreaking advancement in medical coding automation. Pulse incorporates adaptive learning capabilities and real-time insights to continuously enhance coding accuracy. Its user-centric design prioritizes process optimization, productivity enhancement, and value delivery to healthcare practitioners. Seamlessly interfacing with any electronic health record (EHR), Pulse is fully customized to meet the specific needs of each healthcare facility.
In May 2023, Medical Manufacturing Technologies Inc., a US-based medical device manufacturing company, acquired Somex Automation Ltd. for an undisclosed sum. Through this strategic acquisition, Medical Manufacturing Technologies, Inc. aims to bolster its automated medical device production capabilities, improving efficiency, quality, and innovation speed. The company seeks to streamline manufacturing processes, expedite product development, and ensure compliance with regulatory standards. Somex Automation Ltd. is an Ireland-based provider of medical automation technologies.
Major companies operating in the medical automation technologies market are Johnson & Johnson Services Inc., F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Medtronic plc, Danaher Corporation, Siemens Healthineers AG, Koninklijke Philips N.V., Becton Dickinson and Co, GE HealthCare Technologies Inc., Boston Scientific Corporation, Zimmer Biomet Holdings Inc., Olympus Corporation, Terumo Corporation, Intuitive Surgical Inc., Oracle Cerner, Hologic Inc., Illumina Inc., Mindray Medical International Limited, Nikon Corporation, Sysmex Corporation, Bio Rad Laboratories Inc., QIAGEN N.V., Carl Zeiss Meditec AG, Yuyama Co Ltd.
North America was the largest region in the medical automation technologies market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical automation technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the medical automation technologies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Medical automation technologies encompass the application of automated systems, robotics, artificial intelligence, and other advanced technologies in healthcare delivery, diagnosis, treatment, and management. These technologies are designed to streamline processes, enhance efficiency, improve accuracy, and ultimately enhance patient outcomes while mitigating human error and reducing workload.
The primary types of medical automation technologies include diagnostic and monitoring operations, therapeutic automation, lab and pharmacy automation, and home healthcare automation. Diagnostic and monitoring operations involve technologies utilized for disease identification and patient health tracking. The applications of medical automation technologies span across various functions such as imaging and radiology, clinical chemistry analysis, vital signs monitoring, surgery, and rehabilitation. These technologies find utility across various end-user settings including hospitals and diagnostic centers, research institutes and laboratories, as well as homecare settings.
The medical automation technologies market research report is one of a series of new reports that provides medical automation technologies market statistics, including medical automation technologies industry global market size, regional shares, competitors with a medical automation technologies market share, detailed medical automation technologies market segments, market trends and opportunities, and any further data you may need to thrive in the medical automation technologies industry. This medical automation technologies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The medical automation technologies market consists of revenues earned by entities providing services such as electronic health records (EHR) management, patient engagement and education, telemedicine platforms, medical imaging automation, and patient monitoring systems. The market value includes the value of related goods sold by the service provider or included within the service offering. The medical automation technologies market also includes sales of automated vaccine storage and handling systems, automated sterilization systems, automated drug delivery systems, automated external defibrillators (AEDs), and automated laboratory instruments. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Medical Automation Technologies Market Characteristics3. Medical Automation Technologies Market Trends and Strategies32. Global Medical Automation Technologies Market Competitive Benchmarking33. Global Medical Automation Technologies Market Competitive Dashboard34. Key Mergers and Acquisitions in the Medical Automation Technologies Market
4. Medical Automation Technologies Market - Macro Economic Scenario
5. Global Medical Automation Technologies Market Size and Growth
6. Medical Automation Technologies Market Segmentation
7. Medical Automation Technologies Market Regional and Country Analysis
8. Asia-Pacific Medical Automation Technologies Market
9. China Medical Automation Technologies Market
10. India Medical Automation Technologies Market
11. Japan Medical Automation Technologies Market
12. Australia Medical Automation Technologies Market
13. Indonesia Medical Automation Technologies Market
14. South Korea Medical Automation Technologies Market
15. Western Europe Medical Automation Technologies Market
16. UK Medical Automation Technologies Market
17. Germany Medical Automation Technologies Market
18. France Medical Automation Technologies Market
19. Italy Medical Automation Technologies Market
20. Spain Medical Automation Technologies Market
21. Eastern Europe Medical Automation Technologies Market
22. Russia Medical Automation Technologies Market
23. North America Medical Automation Technologies Market
24. USA Medical Automation Technologies Market
25. Canada Medical Automation Technologies Market
26. South America Medical Automation Technologies Market
27. Brazil Medical Automation Technologies Market
28. Middle East Medical Automation Technologies Market
29. Africa Medical Automation Technologies Market
30. Medical Automation Technologies Market Competitive Landscape and Company Profiles
31. Medical Automation Technologies Market Other Major and Innovative Companies
35. Medical Automation Technologies Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Medical Automation Technologies Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on medical automation technologies market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for medical automation technologies ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The medical automation technologies market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) by Type: Diagnostic and Monitoring Operations; Therapeutic Automation; Lab and Pharmacy Automation; Home Healthcare Automation2) by Application: Imaging and Radiology; Clinical Chemistry Analysis; Vital Signs Monitoring; Surgery and Rehabilitation
3) by End Use: Hospitals and Diagnostics Centers; Research Institutes and Laboratories; Homecare Settings
Key Companies Mentioned: Johnson & Johnson Services Inc.; F. Hoffmann-La Roche AG; Thermo Fisher Scientific Inc.; Abbott Laboratories; Medtronic plc
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Johnson & Johnson Services Inc.
- F. Hoffmann-La Roche AG
- Thermo Fisher Scientific Inc.
- Abbott Laboratories
- Medtronic plc
- Danaher Corporation
- Siemens Healthineers AG
- Koninklijke Philips N.V.
- Becton Dickinson and Co
- GE HealthCare Technologies Inc.
- Boston Scientific Corporation
- Zimmer Biomet Holdings Inc.
- Olympus Corporation
- Terumo Corporation
- Intuitive Surgical Inc.
- Oracle Cerner
- Hologic Inc.
- Illumina Inc.
- Mindray Medical International Limited
- Nikon Corporation
- Sysmex Corporation
- Bio Rad Laboratories Inc.
- QIAGEN N.V.
- Carl Zeiss Meditec AG
- Yuyama Co Ltd.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | July 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 6.27 Billion |
Forecasted Market Value ( USD | $ 10.06 Billion |
Compound Annual Growth Rate | 12.6% |
Regions Covered | Global |