The major factors such as favorable government initiatives, increased investments in research and development for healthcare automation coupled with technological advancements, the growing number of medication errors, and rising inclination toward patient-centric care approach are some of the other factors driving the market of healthcare automation across the world. For instance, in the United States, every year nearly 250,000 deaths are caused due to medical errors. Also, Medical billing errors cost Americans $210,000,000,000 annually.
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According to UnivDatos Market Insights (UMI)’ research report “Global Healthcare Automation Market Analysis, 2020”, the healthcare automation market is projected to grow at a CAGR of around 9% during 2021-27F. A large number of ongoing research activities in this field, rising government and public-private investments and providing high potential for early-stage detection and treatment of diseases are some of the factors contributing to the growth of the market globally.
Based on the application, the healthcare automation market is divided into diagnostics and monitoring, therapeutics, lab and pharmacy automation, and medical logistics and training. The medical logistics and training segment occupied the major share of the healthcare automation market in 2020 and it is expected to grow with a substantial CAGR in the upcoming years. The logistics method consists of transporting samples from distinctive departments inside a hospital or from hospitals to laboratories etc. Lab automation facilitates in lowering the time required for sample transportation and results in decreased wastage, decrease error rates, and improved pace of processing which ultimately reduces affected person waiting times. However, the therapeutics segment is also expected to grow considerably during the projected timeframe.
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Hospital Segment to Witness Robust growth
Based on end-users, the market is fragmented into hospitals, diagnostic centers, pharmacies, home care, and others. In 2020, the hospital segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period owing to the increase in continuous technological advancement in automation solutions, the increasing construction of hospitals, and the rising adoption of various automation solutions in hospitals. However, diagnostic centers are also likely to witness the fastest growth during the forecast period.
North America to Grab Lion’s Share, and witnessed Explicit Growth
Based on the region, North America dominated the global healthcare automation market in 2020. The region is projected to maintain its dominance during the forecasted period 2021-27 owing to the presence of well-established market players and frequent product launches in the region. North America is expected to skyrocket with a considerable CAGR in the forecast period, as stated in UnivDatos Market Insights (UMI)’ research report “Global Healthcare Automation Market Analysis, 2020”.
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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the healthcare automation market include Siemens AG, Koninklijke Philips N.V., Medtronic plc, Intuitive Surgical, Inc., Stryker Corporation, General Electric Company, Danaher Corporation, Swisslog Holding AG, Accuray, Inc., Tecan Group Ltd., among others. The players are focused on launching products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry.
“Global Healthcare Automation Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for healthcare automation providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of go to Market Strategies and identifying the blue ocean for its offerings.
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Market Segmentation:
1. By Application (Diagnostics and Monitoring, Therapeutics, Labs and Pharmacy Automation, and Medical Logistics and Training)
2. By End-Users (Hospitals, Diagnostics Centers, Pharmacies, Home Care, and Others)
3. By Region (North America, Europe, Asia-Pacific, Rest of the World)
4. By Company (Siemens AG, Koninklijke Philips N.V., Medtronic plc, Intuitive Surgical, Inc., Stryker Corporation, General Electric Company, Danaher Corporation, Swisslog Holding AG, Accuray, Inc., Tecan Group Ltd., etc.)
Key questions answered in the study:
1. What are the current and future trends of the healthcare automation industry?
2. How the industry has been evolving in terms of application, and end-users?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the healthcare automation industry?
5. What is the customer orientation, purchase behavior, and expectations from healthcare automation firms across various regions?
Table of Content –
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 GLOBAL HEALTHCARE AUTOMATION MARKET COVID-19 IMPACT
6 GLOBAL HEALTHCARE AUTOMATION MARKET REVENUE, 2019-2027F
7 MARKET INSIGHTS BY APPLICATION
8 MARKET INSIGHTS BY END-USERS
9 MARKET INSIGHTS BY REGION
10 HEALTHCARE AUTOMATION MARKET DYNAMICS
11 HEALTHCARE AUTOMATION MARKET OPPORTUNITIES
12 HEALTHCARE AUTOMATION MARKET TRENDS
13 LEGAL & REGULATORY FRAMEWORK
14 DEMAND AND SUPPLY SIDE ANALYSIS
15 VALUE CHAIN ANALYSIS
16 COMPETITIVE SCENARIO
17 COMPANY PROFILED
18 DISCLAIMER
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