Ottawa, Feb. 22, 2024 (GLOBE NEWSWIRE) -- The healthcare automation market size stood at USD 37.71 billion in 2024 and is expected to surpass around USD 56.39 billion by 2029, according to a study published by Towards Healthcare a sister firm of Precedence Research.
Report Highlights:
- The artificial intelligence (AI) segment by technology accounted for the largest 42.6% market share.
- Home healthcare automation by application segment to sweep with the highest 15.3% CAGR (2023-2032).
- Internet of Medical Things (IoT) by technology segment to record 20.4% CAGR (2023-2032).
The National Cancer Institute estimates that individuals in the United States face Metastatic Breast, Prostate, Lung, Colorectal, or Metastatic Melanoma. The number of patients is expected to rise to 693,451 in 2025. Robotic Surgery has emerged as a groundbreaking approach to managing and treating the conditions, setting new standards in Cancer Treatment.
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Healthcare automation is like having intelligent tools that help us in many ways. First, it can quickly find potential health issues by looking at a lot of data about a person, like genes and medical history, helping catch problems early. Then, it uses this information to create personalized plans for each person, considering their lifestyle and genes. Automation also allows monitoring patients using wearable devices and sharing real-time health data with doctors. This means people with chronic conditions can have appointments from home through telehealth, making healthcare more accessible. Automated systems also remind people to take their medicines and track them, ensuring they stay on the proper treatment. It doesn't stop there; automation can analyze data from a whole group of people to predict health trends and prevent diseases from spreading.
Additionally, it helps doctors by handling tasks like scheduling appointments and dealing with paperwork so they can spend more time caring for patients. It's crucial to use these smart tools carefully, thinking about ethics, getting permission from patients, and involving doctors in important decisions. This way, we get the best of both worlds – innovative technology and compassionate healthcare. In today's healthcare landscape, a significant focus is establishing, securing, and implementing advanced data ecosystems.
The challenge lies in aggregating information from diverse sources, such as medical devices and out-of-state providers, and converting it into actionable insights. This necessitates a sustained commitment to a well-thought-out data strategy. For those who have embraced digital transformation, the next step involves identifying IT integration and interoperability weaknesses to enhance automation, analytics, and AI. Progress in digital workflows can be leveraged by transitioning from isolated solutions to contemporary data platforms, fostering integration and delivering insights that enhance workflows and, consequently, patient outcomes. Unified communication and collaboration tools are crucial, offering benefits like improved clinician satisfaction and heightened patient engagement, which are essential in overcoming staffing constraints.
Furthermore, it's noteworthy that government initiatives actively invest in healthcare automation. This strategic involvement aims to boost the overall efficiency of healthcare systems, aligning with the broader trend of leveraging technology to enhance patient care and streamline processes. Increased innovation in healthcare can lead to improved medical treatments, more efficient processes, and ultimately better patient outcomes. The demand for innovation often stems from the desire to address evolving healthcare challenges and enhance the overall quality of care.
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Healthcare Automation Highlights
- In 2021, Lee Health started using Caregility's platform and mobile patient monitoring carts after exploring remote patient observation for several years. The carts have microphones, speakers, and high-resolution cameras with sensors for monitoring patients. Virtual safety attendants, trained to monitor around six patients simultaneously, use the system to access audio, video, and medical records. The technology allows attendants to communicate with patients, call for assistance, or raise emergency alarms.
- In 2021, Houston Methodist Cypress Hospital plans to implement a 5G network across its campus by early 2025, connecting patient rooms to business and medical device networks and revolutionizing patient care with existing technology.
- In 2020, Hackensack Meridian Health swiftly set up over 3,000 Chromebooks with Citrix, thanks to a partnership with Google's cloud infrastructure, to support remote work. Looking ahead to 2024, the healthcare sector faces economic challenges, and affordability remains a top concern.
Robotic Surgery Stats are Breathing Life into a New Era of Healthcare Transformation
In healthcare, robotic surgery emerges as a beacon of hope, intertwining Innovative technology with the tender touch of human care. The integration between surgeon and machine allows for minimally invasive surgeries, reducing recovery times and, in turn, bestowing the gift of swifter healing upon those entrusted to the operating room. It's not just about the mechanics; it's about the profound impact on lives. Robotic surgery breathes life into a future where medical interventions are practical and imbued with a sense of compassion and understanding. In the healthcare market, this technological marvel becomes a lighthouse of progress, a symbol of transformative care that reaches beyond the boundaries of what was once possible. Automation in healthcare through robotic surgery also facilitates remote surgery, wherein a surgeon can operate on a patient in a different geographical location. This is particularly impactful for providing specialized care to remote areas or in emergencies. The robotic systems often incorporate advanced imaging and sensing technologies, providing surgeons with real-time, high-resolution visuals of the surgical site. This heightened visibility enhances decision-making and contributes to more successful outcomes.
The National Cancer Institute estimates that 18.1 million individuals in the U.S. have successfully battled cancer, with a noteworthy 67% of these survivors now aged 65 or older. Furthermore, there are roughly 623,405 people courageously navigating life with metastatic cancers such as breast, prostate, lung, colorectal or bladder cancer, along with metastatic melanoma in the United States. For patients facing the daunting journey of cancer surgery, this technology becomes a source of reassurance, promising not just treatment but an experience marked by enhanced outcomes and a path to recovery illuminated by the promise of a brighter, healthier future. Robotic surgery, in the context of cancer, transcends the clinical realm to become a compassionate ally in the fight against cancer.
Robotic Surgery Recent Breakthroughs
- In 2023, according to the National Institute of Health, more than 11 million robotic surgeries have been performed worldwide with the Vinci Robot Institution surgery.
- In 2022, at the American College of Surgery, Dr. Kyle Vincent performed more than 300 robotic surgeries.
- By the end of September 2023, CMR Surgical Systems performed around 15000 robotic surgeries with their Versius Surgical System.
- In 2021, according to the Centers for Disease Control and Prevention, about 644,000 robotic surgeries were performed in the United States.
The global robotic surgery market surge results from technological advancements, a shift towards minimally invasive procedures, increased surgical capabilities, and a growing awareness and demand for innovative healthcare solutions. This trend is likely to continue as the benefits of robotic surgery become more apparent and technology continues to evolve.
The High Cost Curb
The journey towards healthcare automation is met with a formidable financial hurdle – the high initial costs. Implementing Innovation automation systems involves substantial expenses encompassing technology acquisition, training and seamless integration into existing frameworks. This financial barrier casts a looming shadow, particularly over smaller healthcare providers, potentially limiting their capacity to embrace automation solutions. The risk lies not only in the delayed progress of these providers but also in the broader market dynamics, as the collective adoption of automation could be hampered, impacting the overall growth trajectory of the healthcare automation market.
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Hospital Automation an Efficient Healing for All
Hospital automation is like bringing intelligent helpers into a hospital to make everything smoother. It includes using fancy computer systems to handle tasks like scheduling appointments, dealing with paperwork, and managing bills. Electronic Health Records (EHRs) are like digital folders for keeping all patient info in one safe place. Imagine a system that automatically schedules your doctor visits, sends you reminders, and keeps track of all your medical records. In the pharmacy, there are fantastic machines that help with giving out the right medicines and keeping track of how much is left. Labs use automated systems to analyze samples and share results quickly. Patients are monitored using intelligent systems that monitor vital signs and alert doctors in real-time. There's even robot assistance in surgery for super precise operations.
Telemedicine brings doctors to you through video calls; inventory systems ensure the hospital has enough supplies. The goal is to make things efficient, reduce mistakes, and, most importantly, improve patients' care while remembering that the human touch is irreplaceable in essential decisions and care. Hospital automation acts as a catalyst, propelling the growth of healthcare automation on a global scale. By integrating advanced technologies and automated systems within hospitals, we witness a transformative shift that streamlines operations and enhances the overall quality of healthcare delivery. This expansion is fueled by the seamless automation of administrative tasks, clinical processes, and patient care, improving efficiency and reducing errors. As hospitals worldwide embrace automation, they contribute significantly to the evolution of healthcare practices, ushering in an era of heightened effectiveness and innovation that transcends geographical boundaries.
North America and Europe are on a Boom
In developed economies such as North America and Europe, there is a robust integration of healthcare automation across various facets, including administrative processes, electronic health records (EHRs), and advanced clinical technologies. These regions often lead in the implementation of advanced solutions like robotic surgery and telemedicine.
In emerging markets, the adoption of healthcare automation is steadily increasing, driven by a growing awareness of technology's potential to enhance healthcare delivery. Asia-Pacific, for instance, is witnessing a rise in telehealth services and the digitization of healthcare records. Developing regions are leveraging automation to overcome infrastructure challenges and improve access to medical services.
Browse More Insights of Towards Healthcare:
- The global AI in medical coding market size was projected at USD 2.06 billion in 2022 to reach around USD 7.15 billion by 2032, staggering at a CAGR of 13.3% between 2023 and 2032.
- The global life science tools market size was valued at USD 111.28 billion in 2022 to soar around USD 367.16 billion by 2032, expanding at a CAGR of 13% between 2023 and 2032.
- The global 5G healthcare market size to grow from USD 41.89 billion in 2022 to reach around USD 266.60 billion by 2032, expanding at a double-digit CAGR of 20.82% between 2023 and 2032.
- The global metaverse in healthcare market size was valued at USD 8.29 billion in 2022 and is projected to hit USD 81.99 billion by 2032, growing at a CAGR of 26.3% between 2023 and 2032.
- The global health insurance market size was estimated at USD 1.54 trillion in 2022 to hit around USD 3.02 trillion by 2032, growing at a CAGR of 7.4% between 2023 and 2032.
- The global AI in breast imaging market size to grow from USD 480 million in 2022 to reach around USD 734.24 million by 2032, at a CAGR of 3.30% between 2023 and 2032.
- The global bionic eye market size was valued at USD 91.98 million in 2022 to reach around USD 199.97 million by 2032, growing at a CAGR of 8.89% from 2023 to 2032.
- The artificial intelligence (AI) in precision medicine market size is projected to grow from USD 1.74 billion in 2022 to reach around USD 16.91 billion by 2032, registered at a CAGR of 25.54% between 2023 and 2032.
- The global AI in ultrasound imaging market was valued at USD 881.2 million in 2022 to surpass an estimated USD 2,001.51 million by 2032, expanding at a CAGR of 8.6% between 2023 and 2032.
- The global antacids market size is estimated to grow from USD 7.00 billion in 2022 to surpass around USD 9.64 billion by 2032, registered at a CAGR of 3.30% between 2023 and 2032.
Competitive Landscape
The competitive landscape for automation in the healthcare market is dynamic and shaped by a diverse range of players offering innovative solutions. Technology companies, healthcare providers and specialized automation firms contribute to the evolving ecosystem.
Recent Developments
- In 2022, Becton, Dickinson, and Company, one of the key players in the medical technology industry, announced the acquisition of Parata Systems for a sum exceeding 51.5 billion dollars. Parata Systems specializes in pharmacy automation products, offering solutions such as inventory management software, high-speed robotic dispensers, workflow tools and adherence packaging.
- In 2021, Siemens Healthineers AG made a notable acquisition by taking over Varian Medical Systems, Inc. This German medical device company sought to broaden its access to Varian's comprehensive portfolio, fortifying its position within the dynamic MedTech sector.
- In 2021, Philips completed an acquisition deal with Capsule Technologies, Inc., a provider of medical device integration and data technologies catering to hospitals and healthcare organizations. This move signifies Philips' commitment to advancing healthcare by integrating innovative technologies for improved patient care and data management.
Market Players
- Siemens Healthineers
- GE Healthcare
- Philips Healthcare
- Medtronic
- Intuitive Surgical
- Stryker
- Cerner
- Epic systems
- McKesson
- Roche Diagnostics
Market Segments
By Application
- Hospital Automation
- Clinical Automation
- Administrative Automation
- Pharmacy Automation
- Home Healthcare Automation
By Technology
- Robotics
- Artificial Intelligence
- Internet of Medical Things
- Big Data and Analytics
- Blockchains
By End User
- Hospital and Clinics
- Ambulatory Surgical Centers
- Research Institutes
- Home Healthcare
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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About Us
Towards Healthcare is a leading global provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations. We are a global strategy consulting firm that assists business leaders in gaining a competitive edge and accelerating growth. We are a provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations.
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