Healthcare Automation Market Growth Rate: Integration of AI and Robotics Redefining Healthcare Delivery

The healthcare automation market size has grown rapidly in recent years. It will grow from $64.93 billion in 2023 to $72.14 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to regulatory compliance, patient safety, increased ehr adoption, operational efficiency, medical device integration.

The healthcare automation market size is expected to see rapid growth in the next few years. It will grow to $112.95 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to population health management, medication management, precision medicine, pandemic preparedness, increased aging population. Major trends in the forecast period include robotics in healthcare, artificial intelligence (ai) in diagnostics, blockchain for health data security, internet of things (iot) for healthcare, smart hospitals.

Market Overview -
Healthcare automation refers to the use of various modern tools and software that enhance efficiency in the delivery of medical services that help to monitor the safety, security, and health status of the patient.

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Surge In Automation Adoption Fueling Growth In The Healthcare Automation Market
An increase in automation adoption is contributing to the growth of the healthcare automation market. Automation adoption refers to the adoption of cutting-edge solutions in healthcare facilities. Healthcare facilities are adopting healthcare automation to improve overall work efficiency and streamline different activities. For instance, in 2021, according to Dignity Health, a California-based not-for-profit public-benefit corporation, the healthcare industry sector has cut administrative expenses by $122 billion as a result of automation and may save an additional $16 billion by fully automating some routine processes. Also, according to Flobotics, a US-based software development company, 30% of the healthcare industry is considering implementing Robotic Process Automation (RPA) solutions in their businesses. Therefore, increased automation adoption is anticipated to propel healthcare automation market growth over the coming years.

Competitive Landscape -
Major companies operating in the healthcare automation market include 3M Company, Accuray Inc., Aetna Inc., Allscripts Healthcare Solutions, Becton Co., Cerner Corporation, Cigna Corporation, Danaher Corporation, Dickinson and Company, General Electric Company, International Business Machines Corporation, Intuitive Surgical Inc., Koninklijke Philips N.V., McKesson Corporation, MedeAnalytics, Medtronic plc, OptumHealth, Oracle Corporation, Stryker Corporation, Swisslog Holding AG, Tecan Group Ltd., Truven Health Analytics Pvt. Ltd., UnitedHealth Group Incorporated, Verisk Analytics Inc., Abbott Laboratories, Agilent Technologies, Athenahealth, Capsule Technologies Inc., Change Healthcare Co., Elekta, Epic Systems Corporation, Hologic Co., IBM Watson Health

Artificial Intelligence Revolutionizes Healthcare Automation Market
The adoption of artificial intelligence (AI) has emerged as the key trend gaining significant popularity in the healthcare automation market. Major players operating in the healthcare automation sector are concentrating their efforts on implementing AI in healthcare to aid healthcare providers in several aspects of patient care and administrative operations. For instance, in August 2023, Innovaccer Inc., a US-based healthcare data platform company, launched the AI Automation Suite, Sara for Healthcare. This innovative set of AI solutions will enable population health management, customer relationship management, value-based care, self-serve analytics, and care management and coordination to harness the power of AI while maintaining the safety, accuracy, security, compliance, and scalability that are specific to the needs of healthcare information technology (IT).

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Key Segments -

The healthcare automation market covered in this report is segmented -

1) By Component: Equipment, Software, Services
2) By Application: Therapeutic Automation, Lab And Pharmacy Automation, Logistics And Training Automation, Diagnostics And Monitoring Automation, Other Applications
3) By End-User: Pharmacies, Research Institutes And Labs, Home Care, Other End-Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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