Press release
Medical Automation Technologies Market Size Projected To Reach $11.31 Billion By 2034 With A Cagr Of 12.5%
Medical Automation Technologies Market Size
What Is the Projected Growth of the Medical Automation Technologies Market?
The medical automation technologies market will grow from $6.27 billion in 2024 to $7.07 billion in 2025 at a CAGR of 12.8%, supported by healthcare digitization, pandemics, and the growing focus on patient empowerment.
The medical automation technologies market size is expected to experience rapid growth in the coming years. It is projected to reach $11.31 billion by 2029, at a compound annual growth rate (CAGR) of 12.5%. The growth can be attributed to increasing demand for minimally invasive procedures, remote patient monitoring, hospital capacity optimization, the shift towards value-based care, and heightened awareness about automation in healthcare. Trends during this period include robotic surgery, AI in diagnostics, telemedicine and remote monitoring, automation in drug discovery, and the development of smart hospitals and integrated healthcare systems.
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What Are the Different Medical Automation Technologies Market Segments?
The medical automation technologies market covered in this report is segmented -
1) By Type: Diagnostic And Monitoring Operations, Therapeutic Automation, Lab And Pharmacy Automation, Home Healthcare Automation
2) By Application: Imaging And Radiology, Clinical Chemistry Analysis, Vital Signs Monitoring, Surgery And Rehabilitation
3) By End Use: Hospitals And Diagnostics Centers, Research Institutes And Laboratories, Homecare Settings
Subsegments:
1) By Diagnostic And Monitoring Operations: Diagnostic Imaging Automation, Patient Monitoring Systems Automation, Laboratory Diagnostic Automation, Remote Patient Monitoring
2) By Therapeutic Automation: Robotic Surgery Systems, Infusion Pumps And Automated Drug Delivery, Automated Rehabilitation Devices, Radiotherapy Automation
3) By Lab And Pharmacy Automation: Automated Laboratory Equipment, Pharmacy Dispensing Automation, Automated Sample Handling And Analysis, Robotic Pharmacy Solutions
4) By Home Healthcare Automation: Remote Health Monitoring Devices, Wearable Health Devices, Home Care Robotics, Automated Medication Management Systems
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What Are the Primary Drivers Shaping the Medical Automation Technologies Market?
The rising prevalence of chronic diseases is expected to propel the growth of the medical automation technology market. Chronic diseases, such as diabetes, require ongoing management and treatment. The increasing prevalence of these conditions is attributed to sedentary lifestyles, poor diets, and an aging population. Medical automation technologies enhance chronic disease management by offering personalized treatment plans, remote patient monitoring, and automated data analysis, which improves care efficiency and outcomes. For example, in September 2024, the British Heart Foundation reported that approximately 7.6 million individuals in the UK are affected by heart and circulatory diseases, a number expected to grow by up to 2 million by 2040. Therefore, the rising prevalence of chronic diseases is propelling the growth of the medical automation technology market.
Which Companies Are Leading in the Medical Automation Technologies Market?
Major companies operating in the medical automation technologies market are Johnson & Johnson Services Inc., F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Medtronic plc, Danaher Corporation, Siemens Healthineers AG, Koninklijke Philips N.V., Becton Dickinson and Co, GE HealthCare Technologies Inc., Boston Scientific Corporation, Zimmer Biomet Holdings Inc., Olympus Corporation, Terumo Corporation, Intuitive Surgical Inc., Oracle Cerner, Hologic Inc., Illumina Inc., Mindray Medical International Limited, Nikon Corporation, Sysmex Corporation, Bio Rad Laboratories Inc., QIAGEN N.V., Carl Zeiss Meditec AG, Yuyama Co Ltd.
What Trends Are Driving Growth in The Medical Automation Technologies Market?
Leading firms in the medical automation technologies market are embracing advanced tools like AI-driven medical coding to fuel their revenue generation. This refers to the use of artificial intelligence algorithms that automatically allocate correct medical codes to patient diagnoses, treatments, and processes, simplifying billing and administrative tasks in healthcare while reducing errors and enhancing efficiency. As an illustration, CorroHealth Inc., a healthcare tech firm based in the US, introduced Pulse, an innovative leap in automating medical coding, in December 2023. With its ability to learn adaptively and offer real-time insights, Pulse constantly refines its coding accuracy. Its user-focused design emphasizes process optimization, productivity augmentation, and unparalleled value provision for healthcare professionals. It seamlessly connects with any electronic health record (EHR) and can be fully customized to meet each healthcare institution's unique needs.
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What Are the Top Revenue-Generating Geographies in the Medical Automation Technologies Market?
North America was the largest region in the medical automation technologies market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical automation technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Medical Automation Technologies Market?
2. What is the CAGR expected in the Medical Automation Technologies Market?
3. What Are the Key Innovations Transforming the Medical Automation Technologies Industry?
4. Which Region Is Leading the Medical Automation Technologies Market?
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