Medical Automation Technology Market
Medical Automation Technology Market Size, Share & Industry Analysis, By Application (Diagnostics & Monitoring, Therapeutics, Lab & Pharmacy Automation, Medical Logistics & Training), By End User (Hospitals, Diagnostic Centres, Research Laboratories & Institutes, Pharmacies, Others), By Technology (Motor Control Technology, Flow Analysis Technology, Recognition Technology, Cognition Technology), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa): Share, Size, Outlook, and Opportunity Analysis, 2024-2031.
Market Overview:
“The global medical automation technology market is expected to develop at a 9.5% CAGR from 2024 to 2031. The market size is estimated to reach XX in 2024 and YY in 2031.”
North America dominates the market, accounting for around 40% of total worldwide market share. Key metrics include increased automation in healthcare, rising need for precision medicine, and advances in artificial intelligence and robotics.
The medical automation technology market is expanding rapidly, owing to the demand for increased healthcare delivery efficiency, a reduction in medical errors, and the increasing complexity of medical operations. The integration of automation across multiple healthcare domains is improving patient care, diagnostic accuracy, and operational efficiency in healthcare institutions.
Medical Automation Technology Market Dynamics:
Market Trend: Integration of AI and Machine Learning in Medical Automation
The medical automation technology market is rapidly shifting towards the integration of artificial intelligence (AI) and machine learning (ML) capabilities. The potential of AI to improve diagnosis accuracy, personalise treatment approaches, and optimise healthcare workflows is driving this trend forward. Advanced algorithms are being used to analyse massive volumes of medical data, aid in clinical decision-making, and boost the efficiency of automated systems.
Recent research has yielded encouraging outcomes for AI-powered medical automation. Clinical research involving 1,000 patients found that AI-assisted diagnostic tools enhanced early detection rates of some tumours by 30% when compared to traditional approaches. Industry analysts expect that by 2026, more than half of new medical automation installations will include some sort of AI or ML technology, potentially altering many parts of healthcare delivery, from radiography to drug development.
Market Driver: Increasing Demand for Minimally Invasive Surgeries and Robotic-Assisted Procedures
The growing preference for minimally invasive operations, as well as the deployment of robotic-assisted surgical systems, are key drivers of the medical automation technology industry. These technologies give advantages such as smaller incisions, less patient trauma, and faster recovery times, increasing demand from both healthcare providers and patients.
According to our research analysis, the global surgical robotics industry, a critical component of medical automation, is predicted to reach $16 billion by 2025, expanding at an 11.8% CAGR. Major hospitals say that robotic-assisted surgeries now account for 15-20% of total surgical procedures, with the figure predicted to rise to 30-35% by 2030. The growing use of robotic systems in sectors other than urology and gynaecology, such as orthopaedics and neurosurgery, is driving market expansion.
Market Restraint: High Initial Investment Costs and Concerns Over Job Displacement
While medical automation technologies provide tremendous benefits, hefty initial investment costs and concerns about potential job displacement limit industry expansion. The adoption of advanced automation systems necessitates significant capital investment in equipment, infrastructural modifications, and employee training.
According to our research analysis, the typical cost of adopting a comprehensive automation system in a midsized hospital ranges between $5 million and $20 million, depending on the scale and sophistication of the technology. This large capital demand can be a significant hurdle for many healthcare facilities, particularly those in underdeveloped countries or smaller institutions. Furthermore, some healthcare personnel are opposed to automation because they are concerned about job displacement. A survey of healthcare professionals found that 30% are concerned about the influence of automation on job security, which could delay adoption rates in certain parts of the healthcare industry.
Segment Overview:
The Diagnostics & Monitoring segment dominates the medical automation technology market, accounting for over YY% of the market share.
Automation in diagnostics and monitoring has emerged as the main segment, owing to the importance of accurate and quick diagnosis in patient care. This segment's supremacy originates from the growing use of automated laboratory systems, AI-powered image analysis, and continuous patient monitoring technology.
Market data demonstrates the Diagnostics & Monitoring segment's strength. A survey of 500 healthcare facilities found that 80% have used some type of automation in their diagnostic processes, with 60% planning additional investments within the next three years. The segment is likely to maintain its dominance, growing at a CAGR of 10.5% through 2031, because of advances in point-of-care testing, molecular diagnostics, and AI-assisted picture interpretation.
The Therapeutics section has the fastest-growing market share, thanks to the rising use of robotic-assisted operations and automated medication administration systems. According to recent industry figures, the number of robotic-assisted surgical procedures has increased by 25% each year over the last five years, with orthopedic and cardiovascular applications experiencing the fastest growth rates.
Regional Outlook:
North America leads the global Medical Automation Technology Market, with a market share of approximately YY%.
North America's dominance in the medical automation technology market is due to improved healthcare infrastructure, high healthcare expenditure, and the presence of important industry participants. The United States has been at the forefront of implementing revolutionary medical technologies and automation solutions.
According to our research analysis, the North American medical automation technology market will reach $25 billion by 2026, increasing at 9.8% CAGR. The fast deployment of robotic surgical devices, automated pharmacy dispensing systems, and AI-powered diagnostic tools is driving this rise. The United States Food and Drug Administration's support for digital health technologies as well as the region's strong emphasis on lowering healthcare costs through efficiency gains all help drive market growth.
Europe follows closely after North America, accounting for approximately YY% of the market share. The region's market is distinguished by a significant emphasis on medical technology research and development, as well as a favorable regulatory environment for medical device innovation. Countries such as Germany, the United Kingdom, and France are pioneers in the use of automated laboratory equipment and robotically assisted surgery instruments. The European Union's attempts to promote digital health and precision medicine are projected to fuel more growth in the medical automation technology market.
The Asia-Pacific area is emerging as the fastest-growing market for medical automation technologies, with a projected CAGR of 11.5% by 2031. Countries such as China, Japan, and India are driving tremendous development due to massive patient populations, rising healthcare costs, and government measures to modernise healthcare systems. For example, China's "Healthy China 2030" plan prioritises the use of sophisticated medical technologies, such as automation solutions, to improve healthcare delivery and outcomes.
Competitive Intelligence:
The medical automation technology industry includes both large medical equipment makers and specialised automation technology providers. To increase their market positions, key firms are focussing on providing comprehensive automation solutions, extending their product portfolios, and entering into strategic collaborations.
Leading firms in the market, such as Siemens Healthineers AG and Medtronic plc, have established strong positions with their diverse medical automation technologies. Siemens Healthcare reported 7% year-over-year growth in its Diagnostics division in 2023, with automation solutions playing a significant role.
Emerging players are making tremendous progress in creating specialised automation technology for medical applications. For example, Intuitive Surgical, Inc. has maintained its dominance in the robotic-assisted surgery market, citing a 16% increase in da Vinci surgical system placements in 2023. The company's emphasis on broadening the applications of robotic surgery and improving procedural outcomes has resonated with healthcare providers looking to improve their surgical capabilities.
The market has also seen a rise in collaborative techniques and ecosystem alliances. In 2023, over 30 important agreements in the medical technology industry were announced, with the goal of integrating knowledge in areas such as robots, artificial intelligence, and medical imaging to create more comprehensive automation solutions for healthcare practitioners.
Analyst Opinion:
The Medical Automation Technology Market is expected to experience considerable expansion and technological transition in the coming years, driven by the growing demand for efficiency in healthcare delivery, the increasing complexity of medical processes, and advancements in AI and robotics. We believe that integrating AI and machine learning will play an important role in improving the capabilities of automated systems, potentially leading to more personalized and precise patient care.
The transition to value-based healthcare models creates an exciting opportunity for medical automation technology to demonstrate its impact on patient outcomes and cost-effectiveness. As healthcare providers place a greater emphasis on quality measures and patient satisfaction, automation solutions that can demonstrably improve these characteristics are expected to gain increased acceptance.
Furthermore, we anticipate an increased emphasis on the development of interoperable automation solutions that can smoothly connect with existing hospital IT infrastructures. The capacity to connect diverse automated systems and communicate data across different healthcare domains will be vital for medical automation technologies to reach their full potential.
Major Players:
-
Siemens Healthineers AG
-
Medtronic plc
-
GE Healthcare
-
Stryker Corporation
-
Intuitive Surgical, Inc.
-
Accuray Incorporated
-
Tecan Group Ltd.
-
Swisslog Healthcare AG
-
Koninklijke Philips N.V.
-
Danaher Corporation
Key Developments:
-
October 2023: Siemens Healthineers AG introduces a new AI-powered automated imaging platform that interacts with their diagnostic systems, improving workflow productivity and diagnostic accuracy across several imaging modalities.
-
In May 2024, Medtronic plc announced a strategic agreement with a major AI business to create next-generation robotic surgical systems with greater autonomy and decision-support capabilities, with the goal of improving surgical outcomes and expanding the applications of robotic-assisted surgeries.
1. INTRODUCTION
1.1. Market Definitions & Study Assumptions
1.2. Market Research Scope and Segment
1.3. Research Methodology
2. EXECUTIVE SUMMARY
2.1. Market Overview & Insights
2.2. Segment Outlook
2.3. Region Outlook
3. COMPETITIVE INTELLIGENCE
3.1. Companies Financial Position
3.2. Company Benchmarking—Key Players
3.3. Market Share Analysis -- Key Companies
3.4. Recent Companies Key Activities
3.5. Pricing Analysis
3.6. SWOT Analysis
4. COMPANY PROFILES (Key Companies List by Country) (Premium)
5. COMPANY PROFILES
5.1. Siemens Healthineers AG
5.2. Medtronic plc
5.3. GE Healthcare
5.4. Stryker Corporation
5.5. Intuitive Surgical, Inc.
5.6. Accuray Incorporated
5.7. Tecan Group Ltd.
5.8. Swisslog Healthcare AG
5.9. Koninklijke Philips N.V.
5.10. Danaher Corporation (LIST NOT EXHAUSTIVE)
6. MARKET DYNAMICS
6.1. Market Trends
6.1.1. Integration of AI and Machine Learning in Medical Automation
6.1.2. Adoption of cloud-based automation solutions in healthcare
6.1.3. Development of autonomous robotic systems for medical applications
6.2. Market Drivers
6.2.1. Increasing Demand for Minimally Invasive Surgeries and Robotic-Assisted Procedures
6.2.2. Growing need for efficiency and error reduction in healthcare delivery
6.2.3. Rising prevalence of chronic diseases and ageing population
6.3. Market Restraints
6.3.1. High Initial Investment Costs and Concerns Over Job Displacement
6.3.2. Regulatory challenges and data security concerns
6.4. Market Opportunities
6.5. Porter's Five Forces Analysis
6.5.1. Threat of New Entrants
6.5.2. Bargaining Power of Buyers/Consumers
6.5.3. Bargaining Power of Suppliers
6.5.4. Threat of Substitute Products
6.5.5. Intensity of Competitive Rivalry
6.6. Supply Chain Analysis
6.7. Value Chain Analysis
6.8. Trade Analysis
6.9. Pricing Analysis
6.10. Regulatory Analysis
6.11. Patent Analysis
6.12. SWOT Analysis
6.13. PESTLE Analysis
7. BY APPLICATION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
7.1. Diagnostics & Monitoring
7.1.1. Automated imaging analysis
7.1.2. Point-of-care testing automation
7.2. Therapeutics
7.2.1. Robotic-assisted surgery
7.2.2. Automated drug delivery systems
7.3. Lab & Pharmacy Automation
7.3.1. Automated laboratory systems
7.3.2. Pharmacy dispensing automation
7.4. Medical Logistics & Training
7.4.1. Automated material handling systems
7.4.2. Medical simulation and training technologies
8. BY END USER (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
8.1. Hospitals
8.1.1. Large hospitals
8.1.2. Community hospitals
8.2. Diagnostic Centers
8.2.1. Imaging centers
8.2.2. Clinical laboratories
8.3. Research Laboratories & Institutes
8.3.1. Academic research institutions
8.3.2. Pharmaceutical R&D laboratories
8.4. Pharmacies
8.4.1. Hospital pharmacies
8.4.2. Retail pharmacies
8.5. Others
8.5.1. Ambulatory surgical centers
8.5.2. Home healthcare settings
9. BY TECHNOLOGY (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
9.1. Motor Control Technology
9.1.1. Robotic systems
9.1.2. Automated handling devices
9.2. Flow Analysis Technology
9.2.1. Microfluidics
9.2.2. Automated liquid handling systems
9.3. Recognition Technology
9.3.1. Computer vision systems
9.3.2. Biometric recognition systems
9.4. Cognition Technology
9.4.1. Artificial intelligence systems
9.4.2. Expert systems and decision support tools
10. REGION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
10.1. North America
10.1.1. United States
10.1.2. Canada
10.1.3. Mexico
10.2. South America
10.2.1. Brazil
10.2.2. Argentina
10.2.3. Rest of South America
10.3. Europe
10.3.1. Germany
10.3.2. United Kingdom
10.3.3. France
10.3.4. Italy
10.3.5. Spain
10.3.6. Russia
10.3.7. Rest of Europe
10.4. Asia-Pacific
10.4.1. China
10.4.2. Japan
10.4.3. India
10.4.4. Australia
10.4.5. South Korea
10.4.6. Rest of Asia-Pacific
10.5. Middle-East
10.5.1. UAE
10.5.2. Saudi Arabia
10.5.3. Turkey
10.5.4. Rest of Middle East
10.6. Africa
10.6.1. South Africa
10.6.2. Egypt
10.6.3. Rest of Africa
*NOTE: All the regions mentioned in the scope will be provided with (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
By Application:
-
Diagnostics & Monitoring
-
Therapeutics
-
Lab & Pharmacy Automation
-
Medical Logistics & Training
By End User:
-
Hospitals
-
Diagnostic Centres
-
Research Laboratories & Institutes
-
Pharmacies
-
Others
By Technology:
-
Motor Control Technology
-
Flow Analysis Technology
-
Recognition Technology
-
Cognition Technology
By Region:
-
North America
-
Europe
-
Asia-Pacific
-
Latin America
-
Middle East & Africa
Frequently Asked Questions
We at Aurorawave Intellects Market Report gives total market analysis that suit our customer business need and permit decision maker to run organizations without any problem. We have accomplished greatness in giving start to finish market research arrangements. Our detachment of industry specialists accumulate key data and get ready substance that lines up with our customer's business/specialty.
We at aurorawaveintellects.com offer mainly 3 types of licenses:
• Single User: Research Report copy can be distributed to a single user only
• Multi User: Research Report distribution is restricted up to 5 users.
• Corporate License :Research Report can be distributed across the company.
Based on the nature of the topic or research, the formats vary. The different formats of the report are as following:
• Word Document
• PPT
Following modes are available for making the payment:
• Online Payment (Visa Card, Master Card, Stripe)
• Razorpay
• Net Banking
• Bank Wire Transfer
Our customer service and research specialist team are available by phone and by email. Customer service hours are 24X7 Indian Standard Time (IST). You may reach us at:
• Email: info@aurorawaveintellects.com
• United Kingdom: ++91 7382742511