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Healthcare Automation Market 2024-2033 - Size, Growth, Key Trends & Forecast
The Business Research Company recently released a comprehensive report on the Global Healthcare Automation Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
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According to The Business Research Company's, 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.
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Market Drivers and Trends:
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.
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).
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
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
Healthcare Automation Market 2024 Key Insights:
• 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%.
• Surge In Automation Adoption Fueling Growth In The Healthcare Automation Market
• Artificial Intelligence Revolutionizes Healthcare Automation Market
• North America was the largest region in the healthcare automation market in 2023
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