Medical Automation Market: Analysis and Research Report by Experts 2024
Medical Automation Market: Overview
In a highly competitive pharmaceutical industry, automation can prove to be a massive operational advantage and a key differentiator for players of all sizes. The future of the healthcare industry is increasingly being defined by the advent of faster, more accurate, and easy-to-use devices that are riding high on the wave of medical automation. With a massive number of people crossing the 60-year threshold, the healthcare industry is facing a pressing need to scale up resources and brace for a spike in healthcare needs. This is where automation is expected to be the real game changer.
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There are several market dynamics that are collectively creating a need for more automation in the medical industry. According to an article published in Health Affairs, there will be a shortage of 260,000 registered nurses by 2025 in the U.S. The scenario won’t be drastically different in other developed countries where the workforce is aging rapidly. With fewer humans available to carry out all of the tasks in the healthcare industry, healthcare institutions and pharmaceutical companies are focusing on automation to get redundant and repetitive tasks done. However, as has been the case with several other industries, automation is regarded as a job killer and has been opposed in several countries worldwide.
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These push and pull factors will decide how this market shapes up in the coming years. This is what the report aims to assess. The report creates segments of the global medical automation market based on criteria such as applications, end-users, and geography.
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Global Medical Automation Market: Segmentation
The global market for medical automation can be segmented broadly based on the following fronts: End user, application, and geography. The key application areas of medical automation are therapeutic automation, lab automation, pharmacy automation, and medical automation. The segment of medical automation is composed of automated imaging and analysis and point of care testing market. The market for therapeutic automation can similarly be split into surgical and non-surgical automation. Each of these sub-segments can be further segmented based on the automation devices.
Likewise, the market for lab automation can be classified into liquid handling, automated storage systems, robots and informatics, and microplate readers. The market for pharmacy automation can be further split into automated dispensaries, automated pharmaceutical packaging, and automated/smart medication compounding. The key end users in the global medical automation market are: Research labs, pharmacies, hospital and diagnostic centers, and home care centers.
Using geography as a criteria, the global medical automation market has been segmented into North America, Europe, Asia Pacific, and Rest of the World. The market for medical automation is currently the largest in North America. It is also well-established in Europe. The rising demand for medical automation solutions and software in Asian countries such as Taiwan and China will be a crucial turning point for the market.
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