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Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
Healthcare Automation Market By Application, By Distribution Channel and Geography
Healthcare Automation Market By Application, By Distribution Channel and Geography
Healthcare Automation Market was valued at US$ 38,623.9 million in 2023 and is anticipated to grow at a CAGR of 10.3 % over 2024-2030. The healthcare automation market refers to the use of cutting-edge technology and automated systems in healthcare settings to automate routine and repetitive tasks, fasten administrative tasks, minimize human error, improve accuracy, boost operational efficiency, and improve patient care. Healthcare automation encompasses various areas within the healthcare industry, including hospitals, clinics, laboratories, pharmacies, and other healthcare facilities. Automation in the healthcare sector refers to the use of tools like robots, artificial intelligence (AI), machine learning, data analytics, and process automation to carry out manual operations. The healthcare automation market is a rapidly evolving and transformative sector that is primarily driven by the increasing burden of healthcare costs, posing challenges for healthcare systems and providers. Automation helps in streamlining processes, increasing productivity, optimizing workflows, and improved resource allocation, resulting in cost savings and improved financial outcomes for healthcare organizations.
Additionally, the growing need for operational efficiency and rising demand for improved patient care and safety further fuel the growth of the healthcare automation market. A few recent trends that are shaping the development of the healthcare automation market and creating significant opportunities that can fuel its growth and development include the increasing adoption of telehealth and remote patient monitoring solutions as well as the rising demand for robotics and automation in surgery. However, the expansion of the healthcare automation industry is hampered by restricted government investments in emerging nations. Collaboration and partnerships between healthcare providers, research institutions, and technology companies and the development of innovative solution by various key market players accelerate the growth of the healthcare automation market. For instance, In March 2023, Nuance Communications, Inc., a Microsoft Company, announced Dragon Ambient eXperience (DAX) Express, which is the first fully AI-automated clinical documentation application for healthcare.
Study Period
2024-2030Base Year
2023CAGR
10.30%Largest Market
North AmericaFastest Growing Market
Europe
Growing demand for wearable technology, which is used for empowering patients, continuous monitoring, and collecting real-time data expected to fuel the market revenue growth. This technology is also used in tracking surgical recovery of patient's information to physicians. The surge of internet of things is the major trend in the market. The automation helps to reduce the labor which is likely to enhance the growth of the market. The growing government support is another factor anticipated to drive the growth of the market. However, the high cost of automation is hampering the growth of the market.
North America healthcare automation market is the largest market when compared with that of the other regional markets. The increasing healthcare expenditure is attributed for the growth of the market. The growing government support to the healthcare sectors is anticipated to fuel the growth of the market. Europe healthcare automation market is holding the position next to North America, owing to increasing demand for point-of-care (POC) testing. The Asia Pacific healthcare automation marketexpected to grow significantly over the forecasted period owing to its developing healthcare infrastructure.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 38,623.9 million |
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Market CAGR |
10.30% |
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By Application |
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By Distribution Channel |
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By Region |
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The global healthcare automation market size was valued at US$ 38,623.9 million in 2023 and is projected to grow at a CAGR of 10.3% from 2024 to 2030.
The global healthcare automation market key players are General Electric Company, Intuitive Surgical, Inc., Stryker Corporation, Medtronic plc, Danaher Corporation, Accuray, Inc., Siemens AG, Swisslog Holding AG, Koninklijke Philips N.V., and Tecan Group Ltd.
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.
Y-o-Y Growth (%), and Market Share (%)
Key Market Players
Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthcare domain, encompassing pharmaceuticals, medical devices, and diagnostics. A graduate in Pharmacy, he possesses a strong foundation in the intricacies of the healthcare sector. He further enhanced his expertise by pursuing an MBA in Pharmaceuticals, equipping him with valuable business acumen. His analytical skills and market insights have contributed to strategic decision-making and enhanced market positioning for various healthcare organizations. Committed to driving innovation and excellence, Muni continues to seek opportunities to improve healthcare delivery through data-driven insights.