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The global healthcare automation market size is expected to reach US$ 88.9 Bn, with demand increasing at a healthy CAGR of 8.4% over the forecast period. It was valued at US$ 36.9 Bn in 2020.
Increasing focus on the development of new technologies for diagnostic and therapeutic applications is set to propel sales in the market. Rising adoption of the internet of things (IoT) and artificial intelligence (AI) to automate various processes in hospitals is likely to augur well for the market.
The need to perform daily activities seamlessly among hospital administrators is expected to spur demand for healthcare automation systems. Automation of vital information, such as prescriptions, billing, and patient reports enable doctors to provide immediate care to patients, which, in turn, will boost the adoption of these systems.
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Surging incidence of both chronic and acute diseases across the globe is anticipated to accelerate the demand for healthcare automation solutions. Increasing prevalence for age-related illnesses, such as Parkinson’s disease and dementia is another significant factor expected to propel sales in the forthcoming years.
According to the World Health Organization (WHO), more than 55 million people are currently living with dementia across the globe. WHO also estimates that every year, approximately 10 million new cases arise globally? As a result, there is a high burden on medical resources, as well as more dependency on caregivers.
The implementation of healthcare automation solutions reduces expenses and consolidates hospital staff. The WHO predicts a shortfall of around 18 million healthcare workers in middle- and low-income countries by 2030.
As healthcare automation solutions save the time of staff members and help in stocking up medical resources, demand is expected to rise at a considerable pace.
Moreover, increasing adoption of AI-enabled solutions in healthcare facilities for processing multiple samples and images of patients in short time, along with growing need for consistency and reliability will spur sales.
Base Year Value (2020A)
US$ 36.9 Bn
Projected Year Value (2028F)
US$ 88.9 Bn
Global Growth Rate (2021-2028)
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Leading players operating in the global healthcare automation market are investing in mergers and acquisitions with local and start-up companies. They are aiming to gain access to innovative solutions and to strengthen their position in the market through these strategies.
Meanwhile, a few other key players are aiming to join hands with regulatory bodies to co-develop cutting-edge products and cater to the growing demand. They are also striving to launch new products by investing in research and development activities.
Key Companies Profiled by Fact.MR:
More Valuable Insights on Healthcare Automation Market
In the latest study, Fact.MR provides a detailed overview of the global healthcare automation market for the forecast period of 2021 to 2028. The study also explicates key factors such as opportunities and challenges influencing the sales of healthcare automation through detailed segmentation as follows:
By End User:
Key Questions Covered in the Healthcare Automation Market Report
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