The global medical automation market is expected to reach USD 40,808.08 million by 2030 and register a CAGR of 8.90% during the forecast period 2022-2030.
The Medical Automation Market is projected to reach USD 40,808.08 million by 2030 at 8.90% CAGR during the forecast period 2022-2030.
Medical automation boosts operational growth and creates a positive patient experience by increasing control. Medical automation has numerous benefits, such as reduced human errors, improved patient monitoring & management, enhanced clinical precision, and quicker data retrieval. The growth of the global medical automation market can be attributed to the increasing prevalence of chronic diseases and the growing pharmaceutical and biotechnology industries. Furthermore, the rising demands for robotic surgery are also contributing to the global market growth. However, the high cost of automation and risks associated with robotic surgery followed by the necessity of physician training are anticipated to hamper the global market growth.
Impact of COVID-19
In the light of the COVID-19 pandemic, many healthcare systems are experiencing an increased demand for medical automation systems. Medical automation empowers healthcare providers to offer better services. During the pandemic, staffing and supplies were limited, automation and artificial intelligence solutions made an impact by streamlining workflows and helping reduce clinician burnout. It also reduced the number of up-close interactions that could prompt coronavirus exposure by automating and coordinating unique care tasks.
The COVID-19 pandemic has accelerated the adoption of medical automation as it helps hospitals, patients, insurance departments, and pharmaceuticals manage medical histories, appointments, billing information, and reminders from a unified platform. Medical automation boosts operational growth and offers increased control to create a positive patient experience. Tools such as wearable medical devices help patients undergo some diagnostic activities with almost no inconvenience. These devices can be paired with a remote patient monitoring system. This system automatically logs data and sends alerts to the designated physician. Cloud-based healthcare automation solutions help patients schedule appointments online and acquire care services. Due to the COVID-19 pandemic, medical practitioners and healthcare professionals have shifted their focus to automating workflows. Automation helps them minimize the burden by eliminating endless paperwork and administrative tasks.
The prevalence of chronic diseases such as cancer and diabetes is increasing, which is marked by the growing demand for better diagnostics and therapeutics. Automation of medical practices results in early diagnosis and accurate treatment of chronic diseases. According to the Centers for Disease Control and Prevention (CDC), in 2018, 1,708,921 new cancer cases were reported, with 599,265 people dying of cancer in the US.
In the presence of the present technological advancements in the healthcare industry, the automation of the traditional procedures for the treatment and management of chronic diseases is the answer to the rising demand currently across the world. There are a variety of tools such as sensors and apps that can help with the management of chronic diseases. It can monitor breathing, heartbeats, sleep patterns, and stress.
The high cost of automation in the medical sector is a major affordability factor that could restrain the medical automation market's growth during the forecast period. The adoption of automation in the medical sector is cost-sensitive and difficult for growing organizations to afford it. In addition, the cost of laboratory automation is high, making the automation technology restricted to large and commercial organizations only.
Moreover, maintenance and auxiliary costs are also considered when it comes to medical automation. The automation machines should be appropriately maintained, repaired, and serviced to extend their production life. This is creating a financial burden on the organization. This high cost of automation systems and their maintenance cost is anticipated to restrict the growth of the global medical automation market during the forecast period.
Automation in medical care can help patients receive access to better treatment more quickly. According to a 2020 survey, 90% of large healthcare organizations across the globe stated they had an artificial intelligence (AI) and automation strategy, up from 53% in 2019. In the healthcare industry, automation has the potential to help save lives. The increasing acceptance of automation in the healthcare industry has transformed the concept of medical care and facilities. It can improve quality and consistency to a great extent since it reduces the chance of human error and fatigue.
Furthermore, Healthcare automation in medicine enables the early detection of diseases, allowing for early treatment and slowing disease progression. For instance, the neural network can detect lung cancer in its early stages. This also empowers health providers to offer better services such as increased efficiency, better patient management, and retrieval of patients' data.
The global medical automation market is segmented into type, and end user.
Global Medical Automation Market Share (%), by Type, 2020Source: MRFR Analysis
Therapeutics is a major sector that has witnessed increased automation. Such therapeutic automation can be for surgical and non-surgical purposes. The surgical automation segment accounts for a large market share. In recent years, the adoption of surgical systems has been witnessed. Most market players such as Koninklijke Philips N.V. (Netherlands) and Stryker (US) have launched products for the automation of therapeutics. For instance, in August 2019, Stryker (US) launched the LIFEPAK CR2 Automated Defibrillator, which provides quicker response times in cases of sudden cardiac arrest and helps save more lives.
Moreover, another market player, DePuy Synthes (US), in December 2020, launched KINCISE Surgical Automated System for automated bone preparation, assembly of implants, and positioning in the total hip replacement.
Medical automation is extensively employed for non-surgical therapeutics. Many of these procedures are involved in therapeutic drug monitoring and toxicology. Automated analyzers are the tools for such practices.
The global burden of the diseases has increased, and so has the pressure of accurate and fast diagnosis. Therefore, large laboratories and pharmacies are adopting automated procedures for increased productivity for addressing large sample volumes.
Laboratories are investing heavily in lab automation which is also supported by key market players launching new laboratory automation products in the global market and ramping up production capacities. For instance, in May 2021, Thermo Fisher Scientific Inc. (US) launched its new Cytomat 24 automated incubators and storage systems with the latest incubator technologies. Merck KgAA (Germany) collaborated with Siemens (Germany) to construct a USD 12 million site in Darmstadt, Germany, to automate its modular production of biopharmaceuticals and life science tools. Therefore, the lab & pharmacy automation segment is expected to hold a significant market share during the study period.
Diagnosis and patient monitoring are two essential parts of healthcare that are required in high volume and with accuracy. However, there is a decline in professional healthcare professionals, driving the need for diagnostic and monitoring automation. For instance, according to the Association of American Medical Colleges, there will be a shortage of 139,000 physicians by 2033.
Furthermore, there is a global shortage of nurses as well, which is hampering efficient monitoring activities. According to the Centre for Health & Social Care Research, the global nurse shortage will reach seven million by 2030. Currently, automated tests for diagnosing and monitoring cognitive impairment, cardiac, sepsis, and other ailments are available in the market to counter such shortcomings.
Medical logistics involves the transport of pharmaceuticals, medical and surgical supplies, medical devices & equipment, and other products required to support nurses, doctors, and other health and dental care providers. Blood samples, laboratory items, IV bags, sterile goods and surgical instruments, and others can be easily transported through the automated medical logistics within an organization. Generally, rail-based systems with automatic loading and unloading options are used in hospital-based settings. Furthermore, large-scale hospitals are adopting automated guided vehicles (AGVs) for medical supply delivery within the hospital. proANT S.A.S.H.A by InSystems Automation (US) is one such example.
By End User
Hospitals and diagnostics centers are the major demand producers for the automation of the medical sector. With the technological advancements and increasing global burden of the diseases such as cancer, diabetes, and others, the hospitals and diagnostic centers have expanded. For instance, as per the Centers for Disease Control and Prevention (CDC), in 2020, there were 34.2 million Americans diabetic and 88 million Americans pre-diabetic. They are under pressure to deal with the increasing sample volumes and automation is the key to the problem.
Moreover, hospital automation is being adopted in several emerging economies such as India as well. For instance, in July 2021, Max Hospital in Vaishali, Uttar Pradesh, India, installed the Da Vinci Xi, an automated robotic surgery system, in its facility to reduce post-surgery complications. The Da Vinci Xi is a product of Intuitive Surgical (US), one of the key players in the market. Hence, emerging economies also show tremendous interest in establishing healthcare automation capabilities and, therefore, drive the growth of the segment in the global market during the forecast period.
Pharmacies involve the science for the manufacturing and dispensing of drugs. Automation of the pharmacies involves various processes of handling and distribution of medications. Automated pharmacy tasks include counting small objects such as tablets, measuring and mixing powders, and liquids for compounding, tracking & updating customer information in databases and medical history, drug interaction risk detection, and inventory management. Manual handling of such tasks can lead to human errors, which can also cause substantial losses to companies. Hence, there is high demand for pharmaceutical automation systems driving segmental growth.
The funds for research and development have increased to find a cure to the unanswerable diseases such as AIDS, swine flu, and cancer. For instance, the National Institute of Health (NIH) received a USD 41.46 billion funding in 2020, which was an increase of USD 2.6 billion compared to 2019. In India, health research funding for 2020-21 increased by 7.7% compared to 2019-20. The increase in research funding helps research labs and institutes to allocate a budget for laboratory automation initiatives driving the growth of the segment in the global market.
The others segment covers the use of medical automation in different end-user environments such as ambulatory surgical centers and home care settings.
The global medical automation market has been segmented, based on region, into Americas, Europe, Asia-Pacific, and the Middle East and Africa.
Global Medical Automation Market Share (%), by region, 2020Source: MRFR Analysis
The Americas accounted for a market size of USD 12,638.02 million in 2020 and is expected to exhibit an 7.90% CAGR during the study period. This is attributed to the increasing prevalence of chronic diseases such as cancer, cardiovascular disorders, diabetes, Alzheimer's, obesity, arthritis, among others. Moreover, the region's well-established biotechnology and biopharmaceutical sector and the high adoption rate of technologically advanced medical devices for discovering new and effective drugs in the region drive the regional market growth during the forecast period.
Europe accounts for the second-largest market share due to the accessibility to advanced treatment facilities, rising geriatric population prone to chronic diseases is driving up demand for point-of-care (PoC) testing, and growing healthcare expenditure. For instance, according to the Organization for Economic Co-operation and Development, healthcare expenditure was USD 11,00,443.9 million or 7.0% of GDP in 2019. Thus, rising healthcare expenditure also increases the investment in medical automation systems to provide better healthcare facilities. These factors are anticipated to positively impact the growth of the medical automation market. Additionally, improving government initiatives & healthcare frameworks and the presence of government organizations are driving the growth of the medical automation market in Europe.
Asia-Pacific is anticipated to register the highest growth rate over the forecast period from 2021 to 2027. This is due to the factors such as improving healthcare infrastructure, government initiatives, and the increasing patient population suffering chronic diseases such as cancer, orthopedic, and cardiovascular diseases. For instance, according to the data from National Cancer Registry Programme (NCRP), Indian Council of Medical Research, the projected incidence of patients with cancer for 2020 in India in males was 679,421 and in females was 712,758.
Furthermore, as per the data published by The World Bank Group, in 2019, the incidence of tuberculosis in the Central African Republic was 540 per 100,000 people, which is high compared to the global average incidence rate of 130 per 100,000 people. Hence, the rise in chronic disorders such as HIV and tuberculosis drives the market growth in the region as medical automation techniques are extensively used to improve the health and quality of life of patients suffering from cancer, genetic disorders, and other chronic disorders. Additionally, in the medical field, robots modernize surgeries, accelerate supply delivery, and save time for doctors to spend with patients.
Middle East and Africa
The market for medical automation is growing in the Middle East & Africa due to the technological advancements in medical automation systems, rapidly improving healthcare infrastructure, increasing investments for medical automation systems by biopharmaceutical industries, and rising R&D in the biotechnology sector. Moreover, growing awareness and demand from the general population for effective treatments and diagnosis is likely to favor the regional market growth.
The global medical automation market is characterized by the presence of many global, regional, and local vendors catering to the demand created by a rapidly advancing healthcare industry. The market is highly competitive, with players competing and collaborating to gain a substantial share of the global medical automation market. Expansion into newer untapped markets, novel product launches, and decisions undertaken to achieve operational efficiency are key factors that aid market growth.
For instance, Koninklijke Philips N.V (Philips) is one of the players in the global medical automation market. It has a strong sales and distribution network worldwide and operates in more than 100 countries. The company offers products through medical devices, health systems, cardiology, health tech, oncology, respiratory, fertility, and pregnancy segments. It has a strong focus on medical automation and has many products in different stages of the pipeline in the market.
Among other players, Siemens AG, Stryker Corporation, and Tecan Trading AG are also leading players in the medical automation market.
The prominent players in the global medical automation market are Koninklijke Philips N.V. (Netherlands), General Electric Company (US), Stryker Corporation (US), Siemens AG (Germany), Medtronic Plc (Ireland), Becton, Dickinson and Company (US), 3M Company (US), Tecan Trading AG (Switzerland), Danaher Corporation (US), Intuitive Surgical (US).
The study covers the existing short-term and long-term market effects, helping decision-makers draft short-term and long-term plans for businesses by region. The report covers major regions in Americas, Europe, Asia-Pacific, and the Middle East and Africa. The report analyzes market drivers, restraints, opportunities, challenges, Porter's Five Forces, value chain, and impact of COVID-19 on the market.
Global Medical Automation Market, by Type
Global Medical Automation Market, by End User
Global Medical Automation Market, by Region
|Market Size||USD 40,808.08 million|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, End User, and Region|
|Geographies Covered||Americas, Europe, Asia-Pacific, Middle East and Africa|
|Key Vendors||Koninklijke Philips N.V. (Netherlands), General Electric Company (US), Stryker Corporation (US), Siemens AG (Germany), Medtronic Plc (Ireland), Becton, Dickinson and Company (US), 3M Company (US), Tecan Trading AG (Switzerland), Danaher Corporation (US), Intuitive Surgical (US).|
|Key Market Opportunities||• Growing need for medical automation|
|Key Market Drivers||• Increasing prevalence of chronic diseases • Growing pharmaceutical and biotechnology industries • Rising demand for robotic surgery|
The Americas dominates the global medical automation market due to the widespread innovation and adoption of advanced technology.
Leading players in the medical automation market include Koninklijke Philips, Siemens, Danaher, Stryker, Medtronic, GE, and Accuray, among others.
Medical Automation Market is expected to reach a valuation of more than USD 40,808.08 million by 2030.
Medical Automation Market is expected to exhibit a solid 8.90% CAGR over the forecast period from 2022-2030.
Rising technological advancement in the field of medical robotics and big data-based data archiving software is likely to be the major driver for the medical automation market over the forecast period.