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Global Robotic Process Automation In Healthcare Market Projected to Grow at 14.8% CAGR, Reaching $3.97 Billion by 2029
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shiftsWhat Will the Robotic Process Automation In Healthcare Industry Market Size Be by 2025?
In recent times, there has been a rapid expansion in the size of the robotic process automation market in healthcare. The market is projected to increase from $1.97 billion in 2024 to $2.28 billion in 2025, with a compound annual growth rate (CAGR) of 15.8%. The growth during the historic period can be attributed to factors like increasing demand for telehealth services, a heightened emphasis on optimizing the supply chain, a growing requirement for interoperability solutions, rising complexity in the healthcare billing procedures, and a quickening pace in the digitization of healthcare data.
What's the Long-Term Growth Forecast for the Robotic Process Automation In Healthcare Market Size Through 2029?
The market size of robotic process automation in healthcare is projected to experience substantial expansion in the upcoming years, with a predicted valuation of $3.97 billion in 2029, marking a compound annual growth rate (CAGR) of 14.8%. This robust growth during the forecast period can be accredited to factors such as the amplified focus on cost-saving measures, an escalating demand for augmented operational efficiency and improved patient experience, increased acceptance of electronic health records (EHR), and a surge in healthcare labor costs. Future trends in the forecast period encompass the progress of technology, incorporation of blockchain technology in managing healthcare operations, a shift towards outcome-based reimbursement models, inclusion of artificial intelligence (AI) in healthcare procedures, and a move towards value-oriented care models.
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What Are the Key Growth Drivers Fueling the Robotic Process Automation In Healthcare Market Expansion?
The growing acceptance of electronic health records (EHR) is anticipated to boost the expansion of the robotic process automation in the healthcare market in the near future. EHRs are essentially digital versions of patients' medical reports that are accessible to certified healthcare providers. The increasing presence of these EHR systems generates a consolidated and readily accessible database for patient details, enabling medical professionals to concentrate more on patient care rather than administrative duties. Robotic process automation (RPA) in the healthcare sector offers benefits by enhancing data precision, simplifying recurrent tasks, and elevating operational efficiency in managing patient information. For instance, in June 2022, the Department of Health and Social Care, a governmental agency situated in the UK, stated that by December 2023, 90% of NHS trusts are anticipated to incorporate electronic health records, and they will be mandatory for all trusts by March 2025. Therefore, the increasing integration of electronic health records is significantly influencing the growth of robotic process automation in the healthcare market.
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What Are the Key Trends Driving Robotic Process Automation In Healthcare Market Growth?
In the healthcare robotic process automation market, leading firms are prioritizing the introduction of innovative solutions like generative AI, which can increase efficiency, lower costs, and better patient care. Generative AI is a form of artificial intelligence capable of producing new content, including text, images, or music, from learned data patterns. As an example, in September 2023, US-based computer software firm, Oracle Corporation, unveiled the Oracle Clinical Digital Assistant, a groundbreaking tool using generative AI to simplify electronic health record (EHR) processes for healthcare providers. This platform automates everyday administrative tasks like note-taking and medication ordering, significantly cutting down the amount of documentation for clinicians. The Clinical Digital Assistant improves workflow efficiency by allowing providers to interact with patient records using voice commands, thereby shifting their focus to patient care rather than administrative tasks. The functionality of this tool aspires to enhance the EHR experience in general and facilitate digital transformation within healthcare organizations.
How Is the Robotic Process Automation In Healthcare Market Segmented?
The robotic process automation in healthcare market covered in this report is segmented -
1) By Solution: Software, Services, Implementation, Support And Maintenance, Training And Consulting
2) By Operations: Rule-based Operation, Knowledge-based Operation
3) By Application: Claims Management, Clinical Documentation, Billing And Compliance Management, Appointment Scheduling, Workflow Management
Subsegments:
1) By Software: RPA Software for Healthcare Workflow Automation, Intelligent Automation Software, AI and Machine Learning Integration Software
2) By Services: RPA as a Service (RPAaaS), Managed RPA Services, Custom RPA Solutions
3) By Implementation: RPA Deployment and Integration in Healthcare Systems, System Configuration and Customization, Workflow Design and Automation
4) By Support and Maintenance: RPA Monitoring and Optimization Services, Post-Deployment Support, Software Updates and Patches
5) By Training and Consulting: RPA Training for Healthcare Staff, Consulting Services for RPA Strategy and Roadmap, Change Management and RPA Adoption Assistance
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Which Companies Are Leading the Charge in Robotic Process Automation In Healthcare Market Innovation?
Major companies operating in the robotic process automation in healthcare market are International Business Machines Corporation, EnterBridge, NICE Ltd., Thoughtonomy Limited, Datamatics Global Services Limited, Pegasystems Inc., iRobot Corp., UiPath Inc., Verint System, Celonis SE, BlackLine Inc., Automation Anywhere Inc., HelpSystems LLC, Kofax Inc., Appian Corp., Kryon Systems Ltd., Digital Workforce Service, Redwood Software Inc., OpenConnect Systems Incorporated, AutomationEdge Solutions Limited, WorkFusion Inc., FortressIQ Inc.
Which Regions Are Leading the Global Robotic Process Automation In Healthcare Market in Revenue?
North America was the largest region in the robotic process automation in healthcare market in 2024. The regions covered in the robotic process automation in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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