Rockville , Aug. 01, 2023 (GLOBE NEWSWIRE) -- Climbing at a stellar 9.3% CAGR, the global healthcare automation market is anticipated to reach a size of US$ 94 billion by the end of the forecast period (2023 to 2033), reveals this elaborate research survey by Fact.MR, a competitive intelligence and market research provider.
Rising investments in healthcare infrastructure development, growing penetration of digitization, high healthcare expenditure, rising awareness regarding the benefits of automation, and growing investments in healthcare R&D are projected to influentially favor demand for healthcare automation in the long run. Sales of healthcare automation systems and services in the North American region are forecasted to lead global revenue generation across the forecast period.
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Healthcare automation solutions and services are expensive to develop and deploy, which is why companies dealing with them have to raise some serious capital to finance their business efforts. Capital raise is currently the first priority of all start-ups eyeing to make a splash in the healthcare automation space.
- In July 2021, Olive, a healthcare automation provider, announced that it had closed a new funding round at US$ 400 million led by Vista Equity Partners. The company focuses on the automation of administrative tasks for healthcare establishments.
Country-wise Insights:
Increasing Healthcare Spending Is Expected to Provide New Possibilities
Throughout the projected period, the United States is anticipated to dominate the global market for healthcare automation. Government agencies in the nation are making investments in R&D, which will spur innovation in the healthcare automation market. Healthcare infrastructure that has been established makes it easier for healthcare automation solutions to be adopted quickly.
Other factors that favour market growth in the future include the high prevalence of chronic diseases, expanding use of digital healthcare solutions, and growing understanding of the advantages of automation. The growth of the market in the United States is being driven by the expanding need for better healthcare services and the rising popularity of automated diagnostics and monitoring.
Key Takeaways from Market Study
- The global healthcare automation market is valued at US$ 38.6 billion in 2023.
- Demand for healthcare automation is forecasted to increase at a phenomenal CAGR of 9.3% from 2023 to 2033.
- The global market is predicted to reach a valuation of US$ 94 billion by 2033-end.
- Rising investments in medical research and development, high healthcare expenditure, increasing acceptance of automated healthcare systems, expanding patient pool, and growing burden on healthcare institutions are key prospects that are promoting healthcare automation market development.
- High costs of development and deployment and dearth of skilled medical professionals are slated to be key constraints for market growth going forward.
- Healthcare automation demand in the United States is extrapolated to spearhead global revenue generation over the next ten years.
- Labs and research institutes are estimated to lead global healthcare automation adoption through 2033.
“Companies should focus on innovation to show how automated healthcare could save more lives and reduce medical costs as well,” says a Fact.MR analyst
Key Companies Profiled in this Report
- Siemens AG
- Tecan Group Ltd.
- Koninklijke Philips N.V.
- Medtronic plc
- Danaher Corporation
- Stryker Corporation
- General Electric Company
- Swisslog Holding AG
- Accuray Inc.
- Intuitive Surgical Inc.
Winning Strategy
Healthcare automation providers need to come up with solutions that are affordable and easy to integrate even with old healthcare infrastructure to improve their business scope in emerging economies where healthcare budgets are tight. Raising new funding for research and development is projected to be an area of prime focus for nearly all healthcare automation start-ups entering the healthcare automation space.
Key Segments of Healthcare Automation Industry Research Report
- 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
- Latin America
- Europe
- APAC
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global healthcare automation market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on application (therapeutic automation, lab & pharmacy automation, logistics & training automation, diagnostics & monitoring automation) and end user (pharmacies, research institutes & labs, home care, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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