Medical Automation Technology Market Size, Share, Industry, Forecast and outlook (2024-2031)

Medical Automation Technology Market is segmented By Automated health assessment and monitoring (Automated home monitoring and telemetry, Telehealth kiosks, Automated eye examination devices, Automated drug testing, Others), By Automated imaging and image analysis (Automated radiography and fluoroscopy, Automated whole-breast ultrasound, Computer-aided detection, Automated microscopy, Automated skin cancer detection, Others), By Automated prescription formulation and dispensing (Packaging machines, Intravenous compounders, Others), By Automated therapeutic (nonsurgical) procedures (Automated defibrillators, Automated medication delivery systems), By Medical robotics and computer-assisted surgical devices (Surgical planners and simulators, Surgical navigation systems, Surgical robots, Intelligent operating rooms and related equipment), By End-user (Hospitals, Ambulatory surgical centers, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Market Overview

The Global Medical Automation Technology Market reached USD 43.6 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 90 billion by 2030. The Global Medical Automation Technology Market is expected to exhibit a CAGR of 9.8% during the forecast period 2024-2031. Technology is vital to the healthcare sector's transition as it is changing quickly. Medical automation technology automates healthcare procedures by lowering errors, boosting efficiency, and improving patient outcomes. 

Intelligent systems that automate tasks that need human intellect, like detecting diseases, forecasting patient outcomes, and choosing appropriate treatments, are referred to as AI and ML in the context of medical automation technology.  The use of medical technology for automation is revolutionising the healthcare sector by enhancing patient outcomes, lowering costs, and boosting productivity.

Medical Automation Technology Market Scope and Summary

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Medical Automation Technology Market Dynamics

A Rise in Key Players' Strategies such as New Launches and Product Approvals are Boosting the Global Medical Automation Technology Market Growth.

The Global Medical Automation Technology Market's expansion will depend on an increase in leading players' product releases and business strategies. For an instance, on December 7, 2022, a clinical rules engine was released by the health IT startup Tomorrow Health to automate orders for durable medical equipment. The most recent solution seeks to integrate what Tomorrow Health refers to be a disjointed system. 

Additionally, the Global Medical Automation Technology Market's opportunities are increasing. For instance, in February  2023, Ambience AutoScribe, a completely automated AI medical scribe, has been made available to the general public, according to Ambience Healthcare, a prominent AI firm building technologies to empower healthcare providers. 

The way healthcare professionals record patient encounters is being revolutionised by AutoScribe, which is already in use by provider organisations in North America. 

Expert Shortages and Expensive Installation Prices will Limit the Growth of the Market.

A few of the key reasons impeding the growth of the global healthcare automation market in terms of value sales are the high cost of healthcare automation installation and maintenance as well as security and privacy concerns. Additionally, the limited configurability of healthcare automation is an issue that is anticipated to impede the spread of these systems throughout the world in the years to come.

Medical Automation Technology Market  Segment Analysis

The Global Medical Automation Technology Market is segmented based by automated health assessment and monitoring, by automated imaging and image analysis, by automated prescription formulation and dispensing, by automated therapeutic (nonsurgical) procedures, by medical robotics and computer-assisted surgical devices, by automated laboratory testing and analysis and by the end user.

The Automated Whole-Breast Ultrasound Segment is Expected to Hold a Dominant Position in the Market Over the Forecast Period.

Automated whole-breast ultrasound accounted for the biggest market stake accounting for approximately 39.5% of the medical automation technology market in 2022, due to the rise in breast cancer incidence worldwide, the automated whole-breast ultrasound segment will likely grow rapidly. 

For instance, according to the American Cancer Society, 280,000 new cases of breast cancer are anticipated to be diagnosed in 2021, and 50,000 fatalities connected to the disease are anticipated to take place in the United States alone. 

According to the WHO, breast cancer will surpass 2.5 million new cases in 2021, making it the most prevalent type of cancer worldwide. Additionally, according to the Breast Research Cancer Foundation, a new case of breast cancer is discovered globally every 14 seconds, making it the second most common and fastest-growing cancer in the world (behind skin cancer), and the cancer that affects women the most in 140 out of 184 nations. 

Source: DataM Intelligence Analysis (2023)

Medical Automation Technology Market Geographical Penetration

North America holds a Dominant Position in the Global Medical Automation Technology Market.

North America is estimated to hold about 41.2% of the total market share throughout the forecast period. Due to significant government initiatives, product launches, and R&D expenditures. Additionally, the expansion is linked to the region's expanded usage of laboratory automation due to the area's established healthcare infrastructure. The market penetration of novel solutions is also being aided by the favourable reimbursement system and the local presence of key firms in this region.

For instance, in June 2022, the beginning of ZAIDYN Clinical Development has been announced by the international management consulting and technology business ZS. The product is the most recent addition to the ZAIDYN by ZS platform, which was created to enable life sciences organisations to expand and transform consumer engagement, field performance, analytics, and—now—clinical development design and planning—into digital processes.

These analytical lab services will support the efforts of drug manufacturers seeking to adopt advanced manufacturing technologies, including pharmaceutical continuous manufacturing (PCM), as one way to help increase geographic diversity in pharmaceutical manufacturing and support medicines supply chain resilience. 

Source: DataM Intelligence Analysis (2023)

Medical Automation Technology Market Players

The major global players in the market include Siemens AG, Accuray Incorporated, Kahle automation, Muratec, Ltd., Schneeberger, Hitachi, Danaher Corporation, Becton Dickinson, Stanley Black and Decker Inc, Intuitive Surgical, among others.

COVID-19 Impact on Medical Automation Technology Market 

Russia-Ukraine War Impact Analysis

The Russia-Ukraine is estimated to have a minimal impact on the global medical automation technology market owing to the low prevalence and absence of key market players in this region. However, the impact of the import and export of raw materials, test products, and devices is anticipated to have little influence over the global medical automation technology market in the forecast period.

Artificial Intelligence Impact Analysis

Artificial intelligence is anticipated to impact positively the global medical automation technology market owing to human error, one of the main causes of death and injury in the healthcare industry, is reduced through automation. 

For instance, CPOE systems for computerised provider order entry (CPOE) decrease pharmaceutical prescription and administration errors. Automation enables healthcare professionals to operate more productively and effectively.

By Automated Health Assessment and Monitoring 

• Automated Home Monitoring and Telemetry
• Telehealth Kiosks
• Automated Eye Examination Devices
• Automated Drug Testing
• Others

By Automated Imaging and Image Analysis

• Automated Radiography and Fluoroscopy
• Automated Whole-Breast Ultrasound
• Computer-Aided Detection
• Automated Microscopy
• Automated Skin Cancer Detection
• Others

By Automated Prescription Formulation and Dispensing

• Packaging Machines
• Intravenous Compounders
• Others

By Automated Therapeutic (Nonsurgical) Procedures 

• Automated Defibrillators
• Automated Medication Delivery Systems

By Medical Robotics and Computer-Assisted Surgical Devices

• Surgical Planners and Simulators
• Surgical Navigation Systems
• Surgical Robots
• Intelligent Operating Rooms and Related Equipment

By Automated Laboratory Testing and Analysis

• Central Laboratory Systems
• Point-Of-Care Testing Systems

By End User

• Hospital & Clinical Testing Laboratories
• Pharmaceutical & Biotechnology Companies
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In January 2023, the opening of a Centre of Excellence for Immunoassay Instrument Research and Development (R&D) in Swords, Ireland, has been announced by Siemens Healthineers, a market leader in diagnostic imaging. 

The new Centre will concentrate on releasing ground-breaking technological advancements in laboratory equipment used to identify cancer, blood problems, and infectious diseases. Siemens Healthineers will invest several million euros on the current manufacturing and engineering facility, which manufactures and exports medical diagnostic equipment worldwide.

• In October 2021, Honeywell, an engineering and technology company, introduced Real-Time Health Monitoring System (RTHMS), a smart edge-to-cloud communication platform for remote and real-time patient monitoring that serves as a conduit between carer and patient. The offering integrates hardware and software to increase care delivery, boost healthcare worker productivity, and enable process efficiency.
• In June 2020, the Pistoia Alliance, a global, non-profit alliance that seeks to remove obstacles to innovation in life sciences research and development, introduced a new set of initiatives to aid organizations in promoting the use of digital technology in life sciences research and development and healthcare.

Why Purchase the Report?

• To visualize the Global Medical Automation Technology Market segmentation based on automated health assessment and monitoring, automated imaging and image analysis, automated prescription formulation and dispensing, automated therapeutic (nonsurgical) procedures, medical robotics and computer-assisted surgical devices, automated laboratory testing and analysis, by end-user, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous medical automation technology market-level data points with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Medical Automation Technology Market Report Would Provide Approximately 53 Tables, 54 Figures  And 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies

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