Automation is defined as use of control systems and information technologies to reduce human work in various processes. Automation leads to higher production rates, increased productivity, efficient use of raw materials, and improved safety.
Growing need for data centralization and automation of processes are major factors driving growth of the global healthcare automation market. In addition, automation helps to monitor real-time data, to optimize inventories demand and supply, and to provide real-time location of doctors and instruments. These factors are expected to further fuel growth of the healthcare automation market over the forecast period. Moreover, increasing government initiatives and investments in healthcare sector is other factor driving growth of the global healthcare automation market.
Increasing government investments in healthcare sector is expected to drive growth of the healthcare automation market over forecast period
However, high installation and maintenance costs coupled with privacy and security concerns are key factors hampering growth of the global healthcare automation market. In addition, automation systems have limited level of programmability is other factor expected to hamper growth of the healthcare automation globally over the forecast period.
The global healthcare automation market report has been segmented on the basis of application, end-user, and region. The regions covered are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The market in North America is projected to witness fastest growth and is expected to register a CAGR of X.X% during the forecast period. The market in Europe accounted for second-highest revenue share in the global healthcare automation market, due to increasing investment in research and development for innovative healthcare automation systems by government in this region. The market in Asia Pacific is projected to witness fastest growth in terms of revenue, owing to rising demand for better healthcare services and rising healthcare expenditure in emerging economies in the region.
Key players in the global healthcare automation market include Koninklijke Philips N.V., Siemens AG, General Electric, Swisslog Holding AG, Medtronic Public Limited Company, Intuitive Surgical, Inc., The Danaher Corporation, Accuray Incorporated, Stryker Corporation, and Tecan Trading AG.