In Collaboration with all India Institute of Medical Science (AIIMS) Researchers at the Indian Institute of Technology (IIT) has Developed a Cost Effective Portable Ventilator to Accomplish the Growing Need for Ventilators for COVID-19 Patients

Acceleration in technology development in healthcare sector has tremendously increased from last few years. Advancement in medical automation technology supports painless and uncomplicated treatment during the management of disease. Moreover, innovation and upgradation in medical automation assist for precise and rapid result of disease diagnosis. As well as innovation in medical automation also provides cost-effectiveness of technology-based therapeutic tools during disease treatment.     

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Global Medical Automation Market is expected to reach USD 114,267.14 million by 2030 from USD 54,088.22 million in 2022, growing with a CAGR of 9.80% in the forecast period of 2023-2030. Continuous technological advancements in medical automation solutions, increasing government support for financing medical automation, rising labor costs in different regions, and the growing need for reproducibility and accuracy are anticipated to drive the growth of the medical automation market. Moreover, the surging demand for automation in laboratories and pharmacies and the high potential for early detection and treatment of diseases due to automation are some other prime factors acting as an opportunity for the key market players in the medical automation market.             

Medical Automation Market

Growing number of surgical procedures and pandemic outbreak of COVID-19 across the world will drive the market's growth rate

Patients undergo surgery to relieve pain, rectify the injury, regain function, extract diseased organs and rebuild anatomical body parts. Surgeries can be executed through various techniques. The growing number of road accidents, rising incidence of chronic diseases like bladder cancer, urinary blockage and prostate cancers, among others. Worldwide, the projected demand for surgical operations is high as it covers a large range of disease conditions. Surgical needs vary according to disease prevalence between regions of the world. In order to meet the demand for growing surgical procedures, the demand for automated medical devices will also enhance. Henceforth, the growing number of surgical procedures is anticipated to drive the growth of the market.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015 - 2020)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Component (Equipment, Software, Services), Type (Automated Prescription Formulation and Dispensing, Automated Health Assessment and Monitoring, Automated Imaging and Image Analysis, Automated Healthcare Logistics, Resource and Personnel Tracking, Medical Robotics and Computer-Assisted Surgical Devices, Automated Therapeutic (Nonsurgical) Procedures and Automated Laboratory Testing and Analysis), Application (Diagnostics & Monitoring, Therapeutics, Lab & Pharmacy Automation, Medical Logistics & Training and Others), Connectivity (Wired and Wireless), End User (Hospitals, Diagnostic Center, Pharmacies, Research Labs & Institutes, Homecare, Specialty Clinics, Ambulatory Surgical Centers (ASCS), Others), Distribution Channel (Direct Tender, Retail Sales, Online Sales and Others)

Countries Covered

U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)

Market Players Covered

Brainlab AG (Germany), eScreen (U.S.), QMeds Inc. (U.S.), HollySys Asia Pacific Pte Ltd. (Singapore), SP Automation & Robotics (U.K.), Asahi Kasei Medical Co., Ltd. (Japan), Asteres Inc. (U.S.), ARxIUM (Canada), MedAvail Technologies, Inc. (Canada), Stereotaxis, Inc. (U.S.), Parata Systems, LLC (U.S.), 3M (U.S.), Accuray Incorporated (U.S.), Intuitive Surgical (U.S.), Medtronic (Ireland), Stryker (U.S.), Cardinal Health (U.S.), Omnicell, Inc. (U.S.), STANLEY Healthcare (U.S.), Leica Biosystems Nussloch GmbH (Germany), McKesson Corporation (U.S.), BD (U.S.), Baxter (U.S.), iCAD Inc. (U.S.), Siemens Healthcare GmbH (Germany), Koninklijke Philips N.V. (Netherlands), GE Healthcare (U.S.) and Johnson & Johnson Services, Inc. (U.S.) among others

Data Points Covered in the Report

In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework

Segment Analysis:

Global medical automation market is categorized into six notable segments which are based on the component, type, application, connectivity, end user, and distribution channel.

  • On the basis of component, global medical automation market is segmented into equipment, software and services. In 2022, equipment segment is dominating the market and is growing with the CAGR of 9.9% in the forecast period of 2023-2030 due to growing number of hospitals, which are significantly affecting on further growing demand of equipment.
  • On the basis of type, global medical automation market is segmented into automated prescription formulation and dispensing, automated health assessment and monitoring, automated imaging and image analysis, automated healthcare logistics, resource and personnel tracking, medical robotics and computer-assisted surgical devices, automated therapeutic (nonsurgical) procedures, automated laboratory testing and analysis. In 2022, automated therapeutic (nonsurgical) procedures segment is dominating the market and is growing with the CAGR of 9.00% in the forecast period of 2023-2030 due to because of the rising number of diabetic as well as cardiac patients requiring automated therapeutic devices like insulin pumps and defibrillators for their treatment.
  • On the basis of application, global medical automation market is segmented into diagnostics & monitoring, therapeutics, lab & pharmacy automation, medical logistics & training and others. In 2022, therapeutics segment is dominating the market and is growing with the CAGR of 10.5% in the forecast period of 2023-2030 because of the increased demand of therapeutics interventions due to the surging cases of chronic disease and advancement in technologies.
  • On the basis of connectivity, global medical automation market is segmented into wired and wireless. In 2022, wired segment is dominating the market and is growing with the CAGR of 8.70% in the forecast period of 2023-2030 because of the availability of broad product range in this segment.
  • On the basis of end use segment, global medical automation market is segmented into hospitals, diagnostic center, pharmacies, research labs & institutes, homecare, specialty clinics, ambulatory surgical centers (ASCs). In 2022, hospitals segment is dominating the market and is growing with the CAGR of 12.2% in the forecast period of 2023-2030, as it is the prime location visited by patients for diagnosis and treatment of any chronic disease or emergency case.

The hospitals segment will dominate the end use segment of the medical automation market

The hospitals segment will emerge as the dominating segment end use segment. This is because of the growing number of hospitals in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.

  • On the basis of distribution channel, global medical automation market is segmented into direct tender, retail sales, online sales and others. In 2022, direct tender segment is dominating the market and is growing with the highest CAGR of 11.40% in the forecast period of 2023-2030 due to growing demand from hospitals and laboratories.

The direct tender segment will dominate the distribution channel segment of the medical automation market

The direct tender segment will emerge as the dominating segment under distribution channel. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the healthcare industry all around the globe will further bolster the growth of this segment.

Major Players         

Data Bridge Market Research recognizes the following companies as the market players in market: Brainlab AG (Germany), eScreen (U.S.), QMeds Inc. (U.S.), HollySys Asia Pacific Pte Ltd. (Singapore), SP Automation & Robotics (U.K.), Asahi Kasei Medical Co., Ltd. (Japan), Asteres Inc. (U.S.), ARxIUM (Canada), MedAvail Technologies, Inc. (Canada), Stereotaxis, Inc. (U.S.), Parata Systems, LLC (U.S.), 3M (U.S.), Accuray Incorporated (U.S.), Intuitive Surgical (U.S.), Medtronic (Ireland), Stryker (U.S.), Cardinal Health (U.S.), Omnicell, Inc. (U.S.), STANLEY Healthcare (U.S.), Leica Biosystems Nussloch GmbH (Germany), McKesson Corporation (U.S.), BD (U.S.), Baxter (U.S.), iCAD Inc. (U.S.), Siemens Healthcare GmbH (Germany), Koninklijke Philips N.V. (Netherlands), GE Healthcare (U.S.) and Johnson & Johnson Services, Inc. (U.S.).

Medical Automation Market

Market Development

  • In November 2018, ARxIUM introduced the cGMP RIVA IV compounding system, a fully automated cGMP system for the 503B central-fill, hospital and outsourcing pharmacies. This new product launched by the company has increased its sales and revenue in future.
  • In December 2019, Hamilton Medical AG Recalled Hamilton-G5 Ventilators owing to potential for sporadic error message resulting in the ventilator to cease ventilation and enter ambient state.
  • In February 2020, ResMed Recalled Stellar 100 and 150 Non-invasive and Invasive Ventilators Due to Sound Alarm Failure. In February 2020, GE Healthcare Recalls Carestation 600 Series Anesthesia Systems Due to Loss of Mechanical Ventilation.  

Regional Analysis

Geographically, the countries covered in the market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

As per Data Bridge Market Research analysis:

North America is the dominant region in medical automation market during the forecast period 2023 to 2030

As a result of significant government initiatives, new product releases, and substantial R&D expenditures, North America dominated the sector in 2022. 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 favorable reimbursement system and the local presence of key firms in this area.

Asia-Pacific is estimated to be the fastest-growing region in medical automation market the forecast period 2023 to 2030

The markets in Asia Pacific are anticipated to grow at the fastest compound annual growth rate (CAGR) over the course of the forecast period due to the region's developing healthcare industry, rising chronic disease rates, and expanding government and corporate investment in the industry. These are the region's main drivers of growth.    

COVID-19 Impact

The COVID-19 pandemic significantly influenced the medical equipment business because of shutdown limits and logistical management problems. However, because of the variety of applications, there was little to no influence on the medical automation market, and demand rose. This bolsters the findings of the micro markets examined in the report, such as the markets for laboratory and pharmacy automation, medical software, informatics, and logistics, as well as, to a lesser extent, the market for therapeutic automation, all of which demonstrated positive effects of the COVID-19 pandemic. For instance, even though sales of robotic systems were negatively impacted by the COVID-19 outbreak, most players saw significant demand for their goods at the conclusion of the year.

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