Healthcare Automation Market to be worth US$58.98 billion by 2025, Says TMR
According to a report by Transparency Market Research, the global healthcare automation market is expected to rise at a healthy CAGR of 8.8% during the forecast period of 2017 to 2025. The global market was worth US$ 29.31 billion during 2016 and is expected to attain a valuation of US$ 58.98 billion by the end of 2025.
Robot assisted automation in healthcare is expected to bring new dynamics for healthcare sector. American Telemedicine Association’s former CEO has launched a brand new group that focuses only on applying artificial intelligence to healthcare. This includes mhealth and telehealth. This new innovation has benefits of automation, medical sensors, robotics, and artificial intelligence.
The global healthcare automation market is expecting a rapid growth in the coming years. The key players such as Swisslog Holding AG, Siemens AG, Koninklijke Philips N.V., and General Electric Company in the market are majorly focusing on innovation of new products and spreading their regional boundaries. The companies are involving in business strategies such as mergers and acquisitions to stay in the lead.
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Therapeutic Automation Remains Dominant Technology due to its Superiority
The global healthcare automation application sector is classified into diagnostics and monitoring, logistics and training, lab and pharmacy, and therapeutic automations. Among these, therapeutic automation is holding the largest share in the global market. This rise is mainly due to extensive usage of robotized gadgets such as remedial apportioning systems, orthopedic route frameworks, defibrillators, versatile imaging gadgets surgical robots, and computerized magnifying lens. Advantages offered by these frameworks are incorporating enhanced wellbeing of patient.
Global Healthcare Automation Market: Trends and Opportunities
Increasing demand for wearable technology in the market is boosting the market for global healthcare automation. Since wearable technology provides accuracy, convenience, and easy accessibility all at once, it is more preferred by patients. This technology helps in remote clinical care and monitoring. Technological advancement in automation is changing and improving the dynamics of the market. Automation is employed in healthcare sector in various forms thereby reducing expenses and providing efficient results.
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Fundamental interest of IoT worldwide is enhancing healthcare automation market as it helps in gathering restorative information effortlessly. It enhances the wellbeing of patients by improving availability of care and quality. Innovations are majorly helping in remote observing and clinical care. Computerized material dealing and mechanical radio surgery are mechanical headways that are have a positive impact on the market. Increased usage of automation in drug stores and research facilities are providing with advantages such as scaling down of errors in speed, and mass testing, precision, and reduced costs.
Increasing Expenditure on Healthcare in North America Keeps Region in the Forefront
North America is holding the largest shares in the market owing to extensive attention given to clinical research activities. The government is spending increasingly in healthcare sector which is bolstering the demand of the market. North America is expected to hold dominant share of 39.5% in the global market.
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