Medical Automation Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Global Medical Automation Market is segmented By Product Type (Automated Medication Dispensing Systems, Automated Therapeutic Equipment, Automated Diagnostics & Monitoring Equipment, Automated Laboratory Equipment, Others) By Application (Diagnostic & Monitoring, Therapeutics, Laboratory Automation, Pharmacy Automation, Others) By End-User (Hospitals & Clinics, Diagnostic Centers, Research Institutes, Others) and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Report Overview

Global Medical Automation Market reached US$ YY million in 2023 and is expected to reach US$ YY million by 2031, growing with a CAGR of YY% during the forecast period 2024-2031.

Medical automation refers to the use of technology and automated processes to improve efficiency, accuracy, and productivity in healthcare settings. It encompasses a wide range of applications, including robotic surgery, automated diagnostic systems, medication dispensing systems, virtual healthcare assistants, and more. Medical automation enhances patient care by increasing accuracy, efficiency, and consistency in diagnosis, treatment, and monitoring.

Automated systems can help healthcare providers make more informed decisions, leading to better outcomes for patients. Automated systems can be scaled up to meet growing demand for healthcare services, ensuring consistent quality of care across different locations and settings. Standardization of processes through automation helps to reduce variability in healthcare delivery and improve overall patient experience.

Market Scope

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Market Dynamics: Drivers

Rising technological advancements

Rapid advancements in technology, such as artificial intelligence (AI), robotics, Internet of Things (IoT), and machine learning, are driving innovation in medical automation. These technologies enable the development of more sophisticated and efficient automated systems for various healthcare applications. For instance, machine learning, which is a type of AI, has a huge impact on the healthcare sector. Machine learning healthcare technology was helping, to analyse CT scans in order to treat the effects of COVID-19. But there are several other uses for artificial intelligence that go beyond pandemic treatment.

Additionally, nanomedicine, or the use of nanotechnology in healthcare, is transforming the medical field by offering highly targeted treatments, increasing the accuracy of diagnostics, and developing novel approaches to challenging medical problems.  Moreover, there are also Digital Therapeutics (DTx) that serve as software-driven, evidence-based therapeutic interventions for the management, prevention, or treatment of illnesses or diseases. 

By helping patients manage their symptoms on their own, DTx can enhance various clinical endpoints as well as the patients’ quality of life. The above driving factors are contributing to the rapid growth and expansion of the medical automation market, which is expected to continue evolving as technology continues to advance and healthcare needs evolve.

Market Dynamics: Restraint

Data privacy and security risks

Healthcare organizations are prime targets for cyberattacks due to the sensitive nature of patient data they handle. Data breaches can result in the exposure of personal health information, leading to financial losses, reputational damage, and legal liabilities. Instances of data breaches undermine trust in medical automation technologies and deter healthcare providers from investing in these systems.

Medical automation systems store vast amounts of sensitive patient data, including medical records, diagnostic images, and treatment histories. Unauthorized access to this data can lead to identity theft, insurance fraud, and other malicious activities. Healthcare providers face regulatory penalties and legal consequences for failing to protect patient privacy, creating a barrier to the adoption of medical automation technologies.

Market Segment Analysis

The global medical automation market is segmented based on product type, application, end-user and region.

The automated laboratory equipment from the product type  segment accounted for approximately 30.49% of share

Rising innovation in robotics, artificial intelligence, and automation technologies has revolutionized laboratory equipment. Robotic systems with advanced capabilities can now handle complex tasks such as sample preparation, pipetting, and data analysis with high precision and efficiency, driving the adoption of automated laboratory equipment.

For instance, in 2023, Becton, Dickinson and Company (BD) had launched the new third-generation BD Kiestra Total Lab Automation System for microbiology laboratories. The robotic track system is suitable for use with the BD Kiestra microbiology laboratory solution, which automates lab specimen processing. Designed to meet the evolving requirements of labs, the new robotic track system will enable the formation of a custom and flexible total lab automation configuration that can link several BD Kiestra modules.

Additionally, in 2024, Carbon, launched Automatic Operation (AO) suite of solutions designed to transform the landscape of dental lab automation. The innovative suite of automation solutions is designed to specifically meet the needs of dental labs, setting a new standard in lab automation and efficiency. Thus innovation plays a crucial role in driving the growth of the Automated Laboratory Equipment segment by enhancing performance, functionality, usability, and interoperability of automated laboratory systems.

Market Geographical Share

North America accounted for approximately 44.12% of the market share in 2023

North American region boasts a strong healthcare infrastructure, including well-established laboratory networks, academic research institutions, and healthcare systems. The demand for automated laboratory equipment is fueled by the need for advanced diagnostic capabilities, and personalized healthcare solutions. Companies in North America often collaborate with healthcare providers, research institutions, and technology partners to develop and commercialize medical automation solutions. These partnerships accelerate innovation, expand market reach, and drive adoption of automated medical technologies.

For instance, in 2023, Hyro and UST partnered to enable UST ContineoHealth's hospital and health system clients to benefit from Hyro's best-in-class conversational AI assistants. Hyro's innovative platform will be layered on top of their existing contact center setup and fully integrated within their tech stack.

Additionally, in 2024, Bio-Techne Corporation stated that Lunaphore, part of Bio-Techne's Spatial Biology Division, is partnering with Nikon Instruments Inc to expand access to spatial biology services with the COMET platform for US-based biotech, pharma, and academic customers. Lunaphore's flagship COMET technology is the only fully-automated, high-throughput, hyperplex platform with superior tissue profiling capabilities, which performs protein detection with standard, non-conjugated antibodies.

COVID-19 Impact Analysis

The pandemic highlighted the need for automation in healthcare to minimize human contact and reduce the risk of virus transmission. Hospitals and healthcare facilities sought automation solutions to streamline processes such as patient registration, diagnostics, and inventory management. Telemedicine platforms saw a surge in adoption as healthcare providers turned to remote consultations to minimize in-person contact. 

This led to increased demand for automation tools to support telehealth services, including virtual appointment scheduling, remote monitoring devices, and AI-powered diagnostic tools. The pandemic underscored the importance of data-driven decision-making in healthcare. As a result, there has been increased investment in AI and data analytics solutions to analyze large volumes of medical data, improve clinical decision support systems, and enhance patient outcomes.

Market Competitive Landscape

The major global players in the market include Stryker Corporation, Becton, Dickinson, and Company, Medtronic Plc, Intuitive Surgical, Inc, Siemens AG, Accuray, Inc, Danaher Corporation, GE Healthcare, Swisslog Holding AG, Koninklijke Philips N.V. among others.

Key Developments

• In 2023, CorroHealth launched new PULSE technology, a landmark and transformative SaaS product for the healthcare industry that advances and forever changes how hospitals and clinics code and recover revenue. PULSE by CorroHealth is 100 percent automated with up to 97 percent accuracy in both complex and simple codes, ensuring five to seven times productivity lift in fee-for-service and value-based care coding.
• In 2024, CitiusTech, had launched an industry-first solution for healthcare organizations to help address the reliability, quality and trust requirements for Generative AI (Gen AI) solutions. The CitiusTech Gen AI Quality & Trust solution will help organizations design, develop, integrate, and monitor quality and facilitate trust in Generative AI applications, providing the confidence needed to adopt and scale Gen AI applications enterprise-wide.
• In 2023, Augmedix, had launched the newest product on its platform, Augmedix Go, a clinician-controlled mobile app that uses generative AI to instantaneously create a fully automated draft medical note after each patient visit. Augmedix Go harnesses proprietary natural language processing (NLP), large language models (LLMs), and structured data sets, key components of Augmedix’s tech stack.

Why Purchase the Report?

• To visualize the global medical automation market segmentation based on product type, application, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of medical automation market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global medical automation market report would provide approximately 69 tables, 58 figures and 187 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies