Medical Automation Market Estimated to Experience a Hike in Growth by 2030: Grand View Research Inc.

 Medical Automation Market Growth & Trends

The global medical automation market size is anticipated to reach USD 88.11 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 9.04% from 2023 to 2030, This is attributed to the rapid technological advancements in lab and pharmacy automation, as well as diagnostic and monitoring automation, which are generating global demand for healthcare automation. Increased government involvement is expected to drive the global healthcare automation market over the forecast period.

Healthcare automation provides cutting-edge solutions in hospital pharmacy automation, logistics and transport, and material handling applications. Healthcare automation is being invested in by labs and research facilities all around the world to simplify various processes and increase overall work productivity. This automation is helping research institutes leverage overall productivity in healthcare facilities, improve experimental data quality, and reduce lab process cycle times, as a result, increasing automation adoption by pharmacies, labs, and research centers is expected to drive market growth over the forecast period.

Furthermore, the rising prevalence of chronic illnesses, as well as the increasing implementation of automated diagnostic and therapeutic equipment, are driving market expansion. According to the World Health Organization (WHO), chronic illnesses are one of the main causes of death in the world, with cancer, stroke, heart disease, diabetes, and respiratory disorders accounting for roughly 60% of all fatalities. Furthermore, according to NCBI, by 2030, around 40.5% of the US population is expected to have one or more cardiovascular disorders, expanding the customer base for this industry.

Market players adopt strategies such as collaborations, launches, and mergers & acquisitions to strengthen their industry position. For instance, in June 2022, GE Healthcare collaborated with Medtronic to accelerate global access to personalized care by offering an advanced patient monitoring system on the CARESCAPE platform. This collaboration enabled GE Healthcare to advance patient care, improve decision-making, boost healthcare system efficiency, and link caregivers & their patients within an ecosystem

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Medical Automation Market Report Highlights

• The medical automation market was valued at USD 44.43 Billion in 2022 and is expected to grow at a CAGR of 9.04 % during the forecast period.
• Based on the Application, the therapeutic automation market segment held the largest share of over 54.19%, and it is also expected to be the fastest-growing segment over the forecast period. This is due to the rising number of solutions on the market and initiatives undertaken by leading companies.
• The laboratory and pharmacy automation market is estimated to attain the highest CAGR of 11.27% from 2023 to 2030.  This is due to the growing need for automation in labs and pharmacies, as well as the tremendous potential for disease identification and treatment. On the other hand, the medical software, informatics, and logistics automation market is expected to grow at the fastest rate over the forecast period.
• Based on end-use, hospitals & diagnostic centers held the largest revenue share of the market in 2022. It is also projected to expand at the fastest CAGR during the forecast period, owing to the increasing use of automated equipment in hospitals & diagnosis, and other treatment centers. On the other hand, the research laboratories & institutes segment accounted for a market share of over 48.11% in 2022.
• North America and Europe are likely to be the primary growth regions for this market. Emerging markets such as Asia Pacific are likely to see positive development throughout the forecast period as healthcare infrastructure improves and increasing demand for automation in healthcare systems 
• A common trend observed is an increase in market participant collaboration for innovation through using each other's capabilities. For instance, Danaher Corporation launched its new Biomek NGeniuS Next Gen Library Preparation System.  This initiative will speed up next-generation sequencing and make it more accessible to research laboratories of all sizes.
• In addition, a competitive environment permits significant R&D investments, distribution agreements, and contracts, which are anticipated to maintain industry competition over the forecast period. For instance, in April 2022, Philips and Prisma Health signed a multiyear strategic agreement to offer healthcare system advancements. Philips will be able to extend its advanced medical care to better patient outcomes and the future of healthcare owing to the long-term strategic collaboration.

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Medical Automation Market Segmentation

Grand View Research has segmented the medical automation market based on Application, End-Use, and region:

Medical Automation Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Imaging Automation Market
  • Integrated Image Analysis software systems
  • Medical Intraoperative Imaging
    • iCT
    • iUltrasound
    • iMRI
    • C-arm system
  • Therapeutic Automation Market
    • Non-Surgical Automation Market
      • Defibrillators
        • Implantable Cardioverter Defibrillators (ICD)
        • Automated External (Portable) Defibrillators
        • Wearable cardioverter defibrillators
      • Electronic Drug Delivery Systems
    • Surgical Automation Market
      • Surgical Robotic device
        • By Product
          • Capital Equipment
          • Consumables
          • Services
        • By Application
          • Large-Joint Replacement
          • Spinal Fusion
        • Intelligent Operating Rooms
        • Surgical Simulators
      • Laboratory and Pharmacy Automation Market
        • Laboratory Automation Market
          • Total Automation (Inclusive of Pre-analysis, Transport Mechanisms, Liquid Handling, Sample Storage, & Analysis)
          • Modular Automation Systems (Inclusive of Specimen Acquisition & Identification & Labelling, Transport Mechanisms, Sample Preparation, Sample Loading & Aspiration, Reagent Handling & Storage, Sample Analysis & Measurements)
          • Microplate Readers and Standalone Robots
        • Pharmacy Automation Market
      • Medical Software, Informatics, and Logistics Automation Market
        • Software and Informatics
        • Logistics Automation
          • Hospital/Staff/Patient Tracking Systems Automated Liquid Handing
            • Radiofrequency Identification
            • Real-time Location Systems
          • Automated Hospital Pickup and Delivery
            • Pneumatic Tube Systems (PTS)
            • Automated Guided Vehicles (AGV)

Medical Automation End-Use Outlook (Revenue, USD Billion, 2018 - 2030)

• Hospitals & Diagnostic Centers
• Research Laboratories & Institutes
• Pharmacies
• Others (Home/Ambulatory Care Settings, etc.)

Medical Automation Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • South Africa
  • UAE

List of Key Players in Medical Automation Market

• 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

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.