Healthcare Automation Market to Top US$ 88.9 Bn by 2028 Amid Growing Demand for Hospital Pharmacy Digitization

News provided by

Apr 26, 2022, 09:00 ET

8.1% of Sales in Healthcare Automation Market to Concentrate in Therapeutic Automation Segment by 2028

The healthcare automation market report published by Fact.MR delivers an in-depth outlook of crucial factors propelling sales and demand in the industry. The report further provides insights into recent developments, growth opportunities, and latest trends across major segments, including application, end user, and regions for the forecast period (2021-2028).

NEW YORK, April 26, 2022 /PRNewswire/ -- The global healthcare automation market size is expected to reach US$ 88.9 Bn, with demand increasing at a healthy CAGR of 8.4% over the forecast period. It was valued at US$ 36.9 Bn in 2020.

Increasing focus on the development of new technologies for diagnostic and therapeutic applications is set to propel sales in the market. Rising adoption of the internet of things (IoT) and artificial intelligence (AI) to automate various processes in hospitals is likely to augur well for the market.

The need to perform daily activities seamlessly among hospital administrators is expected to spur demand for healthcare automation systems. Automation of vital information, such as prescriptions, billing, and patient reports enable doctors to provide immediate care to patients, which, in turn, will boost the adoption of these systems.

For more insights into the Market, Request a Sample of this Report

https://www.factmr.com/connectus/sample?flag=S&rep_id=7224

Surging incidence of both chronic and acute diseases across the globe is anticipated to accelerate the demand for healthcare automation solutions. Increasing prevalence for age-related illnesses, such as Parkinson's disease and dementia is another significant factor expected to propel sales in the forthcoming years.

According to the World Health Organization (WHO), more than 55 million people are currently living with dementia across the globe. WHO also estimates that every year, approximately 10 million new cases arise globally? As a result, there is a high burden on medical resources, as well as more dependency on caregivers.

The implementation of healthcare automation solutions reduces expenses and consolidates hospital staff. The WHO predicts a shortfall of around 18 million healthcare workers in middle- and low-income countries by 2030.

As healthcare automation solutions save the time of staff members and help in stocking up medical resources, demand is expected to rise at a considerable pace.

Moreover, increasing adoption of AI-enabled solutions in healthcare facilities for processing multiple samples and images of patients in short time, along with growing need for consistency and reliability will spur sales.

Report Attributes	Details
Base Year Value (2020A)	US$ 36.9 Bn
Projected Year Value (2028F)	US$ 88.9 Bn
Global Growth Rate (2021-2028)	CAGR 8.4%

Key Takeaways:

Based on application, sales in the therapeutic automation segment will grow at a CAGR of 8.1% in the forthcoming years.
By end user, the research institutes and labs segment is projected to account for a dominant share in the market due to increasing investments in lab digitization and automation.
The U.S. is set to remain at the forefront in the North America healthcare automation market stoked by rising government support to innovate the healthcare infrastructure.
China is projected to procure the second-largest share, followed by the U.S. on the back of increasing geriatric population suffering from chronic disorders.
North America healthcare automation market is estimated to account for about 40% of the total market share over the forecast period.

Growth Drivers:

Urgent need to treat and manage patients more efficiently among emergency clinic administrators and healthcare professionals will drive sales.
Rising demand for hospital pharmacy and material handling automation in the healthcare sector will augment demand in the market.

Restraints:

Surging privacy and security issues associated with healthcare automation may obstruct the growth in the market.
Limited programmability of healthcare automation systems may hinder sales in the market.

To Gain In-Depth Insights on Healthcare Automation Market, Request Methodology at https://www.factmr.com/connectus/sample?flag=RM&rep_id=7224

Competitive Landscape:

Leading players operating in the global healthcare automation market are investing in mergers and acquisitions with local and start-up companies. They are aiming to gain access to innovative solutions and to strengthen their position in the market through these strategies.

Meanwhile, a few other key players are aiming to join hands with regulatory bodies to co-develop cutting-edge products and cater to the growing demand. They are also striving to launch new products by investing in research and development activities.

For instance:

April 2021: Siemens Healthineers AG, a German medical device company, acquired Varian Medical Systems, Inc. This acquisition would enable the former to gain access to the latter's comprehensive portfolio and strengthen its position in the MedTech sector.
November 2020: Medtronic plc, a medical device company based in Dublin, acquired France-based Medicrea International. This acquisition would help the company to expand its presence in the field of predictive analytics, machine learning, and artificial intelligence.

Key Companies Profiled by Fact.MR:

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.

More Valuable Insights on Healthcare Automation Market

In the latest study, Fact.MR provides a detailed overview of the global healthcare automation market for the forecast period of 2021 to 2028. The study also explicates key factors such as opportunities and challenges influencing the sales of healthcare automation through detailed segmentation as follows:

By Application:

Therapeutic Automation
Lab & Pharmacy Automation
Logistics & Training Automation
Diagnostics & Monitoring Automation

By End User:

Pharmacies
Research Institutes & Labs
Home Care
Others

By Region:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Key Questions Covered in the Healthcare Automation Market Report

What is the expected growth rate of the global healthcare automation market until 2028?
What is the projected revenue of the healthcare automation market during the forecast period?
Which are the challenges encountered in the healthcare automation market?
What is the estimated market size of the healthcare automation market in 2021?
Which region is expected to exhibit significant growth in the healthcare automation market during 2021-2028?
Which are the factors spurring sales of healthcare automation during the forecast period?

Explore Fact.MR's Coverage on the Healthcare Domain

Oncology Small Molecule Drugs Market- Total demand in the oncology small molecule drugs market is projected to surpass US$ 120 Bn by 2031, increasing at a 6% CAGR. Rising awareness regarding the availability of cutting-edge drugs cancer treatment is expected to bode well for the market.

Ipriflavone Market- Growing prevalence of metabolic diseases among the aging population worldwide is spurring demand for ipriflavone. Besides this, rising investments in the treatment of bone-related fractures by sports insurance companies will augur well for the growth in the market.

Medical Marker Bands Market- Surging demand for minimally invasive and catheter-based heart surgeries in various countries is anticipated to push sales of medical marker bands. In addition to this, increasing government support to develop state-of-the-art medical devices is expected to fuel demand in the market.

About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, chemical, and materials, to even the most niche categories. 80% of Fortune 1000's trusts us in critical decision making.

Contact:

Mahendra Singh
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E: [email protected]
Follow Us: LinkedIn | Twitter

SOURCE Fact.MR