The global healthcare automation market is estimated to project a significant graph of growth in the forthcoming years. The market players are focusing majorly on development of innovative products, and taking up various business strategies including mergers and acquisitions and collaborations. The key players operating in the global healthcare market are Siemens AG, Stryker Corporation, General Electric Company, Swisslog Holding AG, Koninklijke Philips N.V., Tecan Group Ltd., Intuitive Surgical, Inc., Medtronic PLC, and Danaher Corporation, among others.
According to a recent report by Transparency Market Research (TMR), the global healthcare automation market is likely to expand at a steady CAGR of 8.8% within the forecast period from 2017 to 2025. In 2016, the healthcare automation market was valued to be of worth US$28.31 bn. This value is expected to surge around worth of US$58.98 bn by the end of 2025.
On the basis of application, the global healthcare automation market is classified into lab and pharmacy automation, therapeutic automation, monitoring automation, and logistics and training automation and diagnostics. Among these, therapeutic automation segment in 2016, held the leading position in terms of revenue share. Therapeutic automation is the digital therapy system which are fully automated. Geographically, North America accounts for the maximum share of the healthcare automated market trailed by Asia Pacific and Europe. Growing investments in clinical research activities in among the major factor propelling the growth in the mentioned regions. North America is anticipated to lock a share of 39.5% by the end of forecast period.
Rise in Operational Efficiency to Augment Market Growth
Healthcare division is embracing new advancements rapidly, for example, robotics, Artificial Intelligence (AI), medicinal imaging technique; and banking upon maximum advantages to fuel down operational efficiencies, decrease cost of consideration, and improve nature of consideration. Healthcare automation applications are helping healthcare experts and emergency clinic executives in leading every day exercises flawlessly and treating and overseeing persistent consideration all the more effectively. For example, as indicated by an Indiana University information, 2014, specialists utilizing AI for treatment choices has expanded patient results by half while social insurance costs decreased to half.
Smart planning applications are permitting meetings with attendants based on patient proximity, coordinating medicinal claim to fame to the patient's need, and afterward plans the best-coordinated medical attendant to visit the patient at home. Automation gives medical attendants point by point ongoing patient data with a solitary interface to offer the most ideal consideration.
Data Automation Technique to Fuel Market Demand
Moreover, automation of data, for example, billing, patient reports, and solutions permit clinic staff immediate access to the appropriate data to treat any patient amid the whole procedure. This lessens wait time of the patients, improves the services to sufficiently think about patients, and spares time in gathering and looking after data. Usage of data innovation in treatment and demonstrative procedures is foreseen to quicken advancement of clinical, medical clinic, and human services forms.
The review is based on the findings of a report by Transparency Market Research, titled, “Healthcare Automation Market (Application - Therapeutic Automation, Lab and Pharmacy Automation, Logistics and Training Automation, and Diagnostics and Monitoring Automation; End Use - Pharmacies, Research institutes and labs, and Home Care) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.”
The market has been segmented as follows:
- Therapeutic Automation
- Lab and Pharmacy Automation
- Logistics and Training Automation
- Diagnostics and Monitoring Automation
- Research institutes and labs
- Home Care
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America
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