Healthcare Automation Global Market Report 2024

Healthcare automation involves the utilization of modern tools and software to enhance the efficiency of delivering medical services, focusing on monitoring the safety, security, and health status of patients.

The key components within healthcare automation encompass equipment, software, and services. Various applications include therapeutic automation, lab and pharmacy automation, logistics and training automation, diagnostics and monitoring automation, and others. In the healthcare automation market, therapeutic automation refers to digital therapy systems, which are software-based products designed for the prevention, management, and treatment of health issues. These systems find applications in pharmacies, research institutes and labs, home care, and other end-users.

The healthcare automation market research report is one of a series of new reports that provides healthcare automation market statistics, including healthcare automation industry global market size, regional shares, competitors with healthcare automation market share, detailed healthcare automation market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare automation industry. This healthcare automation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The healthcare automation market size has grown rapidly in recent years. It will grow from $64.93 billion in 2023 to $72.14 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth observed in the historical period can be attributed to several key factors, including a focus on regulatory compliance, the prioritization of patient safety, a notable increase in the adoption of electronic health records (EHR), the pursuit of operational efficiency, and the integration of medical devices. These elements collectively played a significant role in driving growth during this historical timeframe.

The healthcare automation market size is expected to see rapid growth in the next few years. It will grow to $112.95 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The anticipated growth in the forecast period can be attributed to various key factors, including a focus on population health management, advancements in medication management, the evolution of precision medicine, preparedness for pandemics, and the increasing aging population. Major trends expected in the forecast period encompass the integration of robotics in healthcare, the utilization of artificial intelligence (AI) in diagnostics, the application of blockchain for health data security, the implementation of the Internet of Things (IoT) for healthcare, and the emergence of smart hospitals. These factors and trends collectively contribute to the projected growth in the upcoming period.

The healthcare automation market is experiencing growth, driven by an increased adoption of automation solutions in healthcare facilities. This adoption involves the integration of cutting-edge solutions to enhance overall work efficiency and streamline various activities within healthcare settings. In 2021, Dignity Health reported that the healthcare industry had reduced administrative expenses by $122 billion through automation, with an additional potential saving of $16 billion by fully automating routine processes. Furthermore, Flobotics noted that 30% of the healthcare industry is contemplating the implementation of Robotic Process Automation (RPA) solutions in their businesses. This surge in automation adoption is expected to be a key driver for the growth of the healthcare automation market in the coming years.

A significant factor contributing to the expansion of the healthcare automation market is the increasing investment in healthcare automation. This involves allocating capital to implement technologies and processes that streamline healthcare operations, reduce costs, and enhance patient care. The growing investment in healthcare automation fosters innovation, accelerates adoption, and expands the market by improving technology accessibility and addressing evolving industry needs. According to the Healthcare Information and Management Systems Society (HIMSS), approximately 80% of health systems plan to increase their investments in digital healthcare over the next five years. The rising investment in healthcare automation is poised to play a crucial role in driving the growth of the healthcare automation market.

Artificial intelligence (AI) adoption has emerged as a prominent trend in the healthcare automation market. Major industry players are focusing on implementing AI in healthcare to assist providers in various aspects of patient care and administrative operations. Innovaccer Inc., a US-based healthcare data platform company, exemplifies this trend by launching the AI Automation Suite, Sara for Healthcare, in August 2023. This suite of AI solutions is designed to facilitate population health management, customer relationship management, value-based care, self-serve analytics, and care management and coordination. The integration of AI in healthcare automation is expected to enhance efficiency while maintaining safety, accuracy, security, compliance, and scalability specific to the needs of healthcare information technology (IT). This underscores the importance of AI as a driving force in the healthcare automation market.

Leading companies in the healthcare automation market are prioritizing technological advancements to maintain their market position, exemplified by offerings like the AGS Artificial Intelligence (AI) Platform. This innovative platform integrates artificial intelligence, automation, and human expertise to optimize healthcare revenue cycles. Launched by AGS Health, a US-based technology company, the AGS AI Platform provides enhanced operational visibility, predictive analytics, and customized solutions to prevent bottlenecks and revenue losses in healthcare settings. The platform utilizes intelligent worklists, productivity reports, customizable dashboards, root cause analysis, and executive reporting to offer comprehensive insights into daily operations and overall revenue cycle performance. With predictive analytics and performance trend analysis, the AGS AI Platform aids in mitigating revenue leakage, preventing bottlenecks, and reducing denials. This integration of automation and AI with human-in-the-loop services underscores the commitment to advancing technology for optimized healthcare operations.

In April 2021, Siemens Healthineers AG, a Germany-based medical device company, made a strategic move by acquiring Varian Medical Systems Inc. for an undisclosed amount. This acquisition aimed to strengthen the strategic partnership between Varian and Siemens Healthineers, establishing a comprehensive digital, diagnostic, and therapeutic ecosystem, including treatment management. Varian Medical Systems Inc., a US-based company specializing in radiation oncology treatment and software, operates in the healthcare automation sector. This acquisition highlights the industry's focus on strategic partnerships and collaborations to enhance capabilities in digital healthcare and treatment management, further contributing to the growth and development of the healthcare automation market.

Major companies operating in the healthcare automation market include 3M Company, Accuray Inc., Aetna Inc., Allscripts Healthcare Solutions, Becton Co., Cerner Corporation, Cigna Corporation, Danaher Corporation, Dickinson and Company, General Electric Company, International Business Machines Corporation, Intuitive Surgical Inc., Koninklijke Philips N.V., McKesson Corporation, MedeAnalytics, Medtronic PLC, OptumHealth, Oracle Corporation, Stryker Corporation, Swisslog Holding AG, Tecan Group Ltd., Truven Health Analytics Pvt. Ltd., UnitedHealth Group Incorporated, Verisk Analytics Inc., Abbott Laboratories, Agilent Technologies, Athenahealth, Capsule Technologies Inc., Change Healthcare Co., Elekta, Epic Systems Corporation, Hologic Co., IBM Watson Health

North America was the largest region in the healthcare automation market in 2023. The regions covered in the healthcare automation market share report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the healthcare automation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The healthcare automation market includes revenues earned by entities by care management systems, healthcare solutions enhancement systems, patient experience systems, and provider software solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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