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.
New York, March 24, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Healthcare Automation Global Market Report 2023” – https://www.reportlinker.com/p06433292/?utm_source=GNW
, 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.
The global healthcare automation market grew 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 is expected to grow to $94.68 billion in 2027 at a CAGR of 10.5%.
The healthcare automation market includes revenues earned by entities by care management systems, healthcare solutions enhancement systems, patient experience systems, and provider software solutions.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
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.
North America was the largest region in the healthcare automation market in 2022. The regions covered in the healthcare automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main components in healthcare automation are equipment, software, and services.The various applications include therapeutic automation, lab and pharmacy automation, logistics and training automation, diagnostics and monitoring automation, and others.
Therapeutic automation in the healthcare automation market refers to digital therapy systems that are software-based products for the prevention, management, and treatment of health issues. It is employed in pharmacies, research institutes and labs, home care, and other end-users.
An increase in automation adoption is contributing to the growth of the healthcare automation market.Automation adoption refers to the adoption of cutting-edge solutions in healthcare facilities.
Healthcare facilities are adopting healthcare automation to improve overall work efficiency and streamline different activities.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.
The adoption of artificial intelligence (AI) has emerged as the key trend gaining significant popularity in the healthcare automation market.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.
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 countries covered in the healthcare automation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The healthcare automation market research report is one of a series of new reports that provides healthcare automation market statistics, including healthcare automation industry global market size, regional shares, competitors with healthcare automation market share, detailed healthcare automation market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare automation industry. This healthcare automation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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