Global Healthcare Automation Market is Expected to Foresee Significant Growth During the Forecast Period. North America to Witness the Highest Growth

The Global Healthcare Automation Market is expected to grow significantly by 2027 expanding at a reasonable CAGR of around 9% during the forecast period (2021-2027). Healthcare automation is an advanced method for delivering more accurate and faster test results. Automation in healthcare involves the use of different software that promotes efficiency in the provision of medical services. This technology employs modern techniques and tools for efficiency reasons. They help monitor safety, security, and the health status of the patient from home.

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The global healthcare automation market is expected to grow with a significant CAGR in the coming years. Key factors influencing the market growth include increased government financial support for medical automation, investment in deep learning, AI, loT, and ML along with the ongoing trends for transforming the hospital–at–home models which helps in reducing the cost burden on hospitals as well as diagnostic centers. For instance, the spending on IoT in healthcare across the globe increased from USD 5 Billion in 2015 to USD 15 Billion in 2020. Further, this spending is also anticipated to grow rapidly in the upcoming years. Moreover, the presence of a vast majority of the global industry players and the increasing adoption of inorganic growth strategies such as mergers, collaborations, partnerships, and acquisitions by key players are some of the other prominent factors contributing to the growth of the market globally.

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Based on application, the healthcare automation market is divided into diagnostics and monitoring, therapeutics, lab and pharmacy automation, and medical logistics and training. The medical logistics and training segment occupied the major share of the healthcare automation market in 2020 and it is expected to grow with a substantial CAGR in the upcoming years. The logistics method consists of transporting samples from distinctive departments inside a hospital or from hospitals to laboratories etc. However, the therapeutics segment is also expected to grow considerably during the projected timeframe.

Based on end-users, the market is fragmented into hospitals, diagnostic centers, pharmacies, home care, and others. In 2020, the hospital segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period owing to the increase in continuous technological advancement in automation solutions, the increasing construction of hospitals, and the rising adoption of various automation solutions in hospitals. However, diagnostic centers are also likely to witness the fastest growth during the forecast period.

Additionally, the report provides detailed report also provides insights into the global healthcare automation market according to the regions such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of USD XX billion in 2020 owing to the well-established market players and increasing geriatric population.
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Siemens AG, Koninklijke Philips N.V., Medtronic plc, Intuitive Surgical, Inc., Stryker Corporation, General Electric Company, Danaher Corporation, Swisslog Holding AG, Accuray, Inc., Tecan Group Ltd., are some of the key players operating in the global healthcare automation market. Several M&As along with partnerships have been undertaken by these players to develop new products.

Global Healthcare AutomationMarket Segmentation

Market Insight, by Application

• Diagnostics and Monitoring
• Therapeutics
• Labs and Pharmacy Automation
• Medical Logistics and Training

Market Insight, by End-Users

• Hospitals
• Diagnostics Center
• Pharmacies
• Home Care
• Others

Market Insight, by Region

• North America
  • United States
  • Canada
  • Rest of North America
• Europe
  • France
  • Germany
  • Italy
  • Spain
  • United Kingdom
  • Rest of Europe
• Asia-Pacific
  • China
  • India
  • Australia
  • Japan
  • Rest of Asia-Pacific
• Rest of World

Top Company Profiles

• Siemens AG
• Koninklijke Philips N.V.
• Medtronic plc
• Intuitive Surgical Inc.
• Stryker Corporation
• General Electric Company
• Danaher Corporation
• Swisslog Holding AG
• Accuray Inc.
• Tecan Group Ltd.