According to the professional survey research report by the Transparency Market Research, the global healthcare automation market is expected to expand at a steady growth rate of 8.8 % over the forecast period of 2017 to 2025. Key driver for this substantial growth in the global healthcare automation market is the rising trend of repetitive activities automation in the healthcare industry. The research analysts predict that the global healthcare automation market will expand to cross the evaluation of US$ 58.98 billion at the end of the forecast period i.e. 2025. The research report also states that the global healthcare automation market was evaluated at US$ 28.31 billion in the beginning of the forecast period i.e. 2016.
Application segments for the products and solutions in the global healthcare automation market include laboratory and pharmacy automation, diagnostics and monitoring automation, therapeutic automation, and logistics and training automation. In the base year of 2016, the therapeutic automation application segment dominated the global healthcare automation market in terms of revenue share. The same segment is projected to expand at a significant growth rate of 8.1 % over the forecast period i.e. 2017 to 2025. This trend can be attributed to increasing need for accuracy and precision as well as the increasing costs of labor.
Research Institutes and Labs Account for Highest Revenue Share in Healthcare Automation Market
End users for the products and solutions in the global healthcare automation market include pharmacies, home care, and research institutes and laboratories, among others. Amongst thee, the research institutes and laboratories segment accounted for the largest revenue share in the global healthcare automation market in base year i.e. 2016. This trend can be attributed to the ability of automation healthcare technologies to lower the lab process cycle time, enhancements in data quality of undertaken experiments, and to improve productivity in laboratory conditions.
North America Dominates the Healthcare Automation Market
Major and leading regions assessed in the research report on the global healthcare automation market include Europe (including Germany, Italy, the United Kingdom, France, and rest of the Europe), North America (including Canada, the United States, and rest of the North America), Middle East and Africa (including the United Arab Emirates, South Africa, and rest of the Middle East and Africa), Latin America (including Brazil and rest of the Latin America), and Asia Pacific (including China, Japan, India, and rest of the Asia Pacific).
Geographically, the North America region accounted for the largest revenue share in the global healthcare automation market in 2016, followed by Europe and then Asia Pacific. One of the key factors driving the growth in North America healthcare automation market is the increasing adoption of healthcare automation in various medical, pharmaceutical, as well as healthcare facilities in the region. Furthermore, other significant drivers for the development of the global healthcare automation market in North America include rising number of research activities as well as the rising government expenditure of healthcare industry in the region.
Some of the leading and incumbent players and vendors evaluated in the professional intelligence study on the global healthcare automation market include Siemens AG, General Electric Company, Medtronic PLC, Danaher Corporation, Stryker Corporation, Swisslog Holding AG, Tecan Group Ltd., Koninklijke Philips N. V., and Intuitive Surgical Inc., among others. Players and vendors in the global healthcare automation market are focused on providing and developing new technologies for therapeutic as well as the diagnostics automation. Some of the key strategies adopted by the players in the global healthcare automation market include integration of Internet of Things or IoT as well as Artificial intelligence or AI in their product offerings.
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