Healthcare Automation Market to Reach at CAGR of 8.8% by 2025

Healthcare Automation Market to Reach a Valuation of US$58.98 bn by 2025 : Leading Key Players Siemens AG, General Electric Company, Swisslog Holding AG, and Koninklijke Philips N.V.

Global Healthcare Automation Market: Scope

This report offers calculated analysis of the global healthcare automation market, and the market growth forecast for 2017 to 2025. Competitive analysis of numerous market splits based on the application and end use of the market across different regional segments are covered in the scope of the report.

Increasing demand for Internet of Things is an important trend in the global healthcare automation market. With the help of this technology, gathering medical data of patients easily accessible. Moreover, it helps in improving the health by increasing its quality and availability of care and also decreases the costs. Additionally, this technology helps in remote monitoring and clinical care. Demand for wearable technology is increasing rapidly and is an important trend in the global market. Wearable technology is employed for collecting real-time data, continuous monitoring, empowering patients, and predicting and alerting patients about their health. Furthermore, wearable technology helps in tracking surgical recovery that is likely to present more detailed information to doctors and better understand patients’ recovery time.

Global Healthcare Automation Market: Trends and Opportunities

Implementation of automation is anticipated to reduce the amount of labor intensive tasks such as lab tests and clinical diagnostics, thereby helping hospitals or clinics to save costs pertaining to the processes. Automation allows medical individuals to carry out other important tasks since it helps in performing repetitive tasks. This is estimated to help in carrying out the tasks efficiently. These technologies are employed to carry out different critical tasks that need accuracy and can be accomplished through automated machines, which again indicates reduction of overhead counts.

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Moreover, automation decreases wastage of time as compared to manual labor. This factor is likely to have a medium impact during the short-term period. Increasing government investment is an important factor propelling the global market during the forecast period. Usage of smart technology in the market is propelling the demand for healthcare automation. Currently, the government is supporting implementation of automation in healthcare by providing funds and investments in the healthcare industries.

For instance, in Europe, government bodies, such as Medicines and Healthcare Products Regulatory Agency, are endorsing automated system for pharmacies. Government authorities are investing funds in research and development assisting innovation in the healthcare automation sector. Rising health issues is a major concern, globally, so to overcome such issues newer types of automation technologies have to be implemented in the healthcare automation section. Rising advancement in technology is another driving factor in this market. Technological advancement helps in developing energy efficient technologies that are likely to help in real-time data collection, continuous monitoring, predicting and alerting the increasing risk of possibly serious health issue, and alert the healthcare providers that an interference is required.

Global Healthcare Automation Market: Segmentation

The global healthcare automation market is bifurcated on the basis of application into therapeutic automation, lab and pharmacy automation, logistics and training automation and diagnostics and monitoring automation. In 2016, therapeutic automation market accounted for the highest market revenue share. Need for accuracy and rising cost of labor are some of the major factors bolstering the demand of this segment globally during the forecast period. Moreover, on the basis of end use the market is bifurcated into pharmacies, research institutes and labs, home care and others. Research institutes and labs held the highest market revenue globally during the forecast period. The geographical split of the global market encompasses North America, Europe, Asia Pacific, Middle East and Africa and Latin America. North America holds the highest market share followed by Europe and Asia Pacific in 2016.

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Key Players Mentioned in the Report are:

Some of the principal players in the global healthcare automation market are Siemens AG (Germany), General Electric Company (U.S.), Swisslog Holding AG (Switzerland), Koninklijke Philips N.V. (the Netherlands), Medtronic PLC (Ireland), Intuitive Surgical, Inc. (U.S.), Stryker Corporation (U.S.), Danaher Corporation (U.S.), Accuray Inc. (U.S.) and Tecan Group Ltd. (Switzerland) among others.

The market has been segmented as follows:

Healthcare Automation Market, by Application:

• Therapeutic Automation
• Lab and Pharmacy Automation
• Logistics and Training Automation
• Diagnostics and Monitoring Automation?

Healthcare Automation Market, by End Use:

• Pharmacies
• Research institutes and labs
• Home Care
• Others

Healthcare Automation Market, by Geography:

• North America
• U.S.
• Canada
• Rest of North America
• Europe
• U.K.
• Germany
• France
• Italy
• Rest of Europe
• Asia Pacific
• India
• China
• Japan
• Rest of Asia Pacific
• Middle East & Africa
• South Africa
• U.A.E.
• Rest of Middle East and Africa
• Latin America
• Brazil
• Rest of Latin America

#IoT #Smart #Home Market Size, Share 2017 - 2025 | Current Trends, Opportunities, Challenges

With the development of the Internet of Things (IoT) many things are developing. Moreover, sensors are getting shrink in size and migrating with smartphones to every other objects, leading to the growth of wireless networks and connected devices. These sensors monitor the performance of power plants, factories, and jet engines, yet the greatest opportunity still lies in the form of smart home. Smart homes are outfitted with advanced sensing and automation systems which connect gadgets and instruments in the house to provide monitoring and control to resident things in a sustainable way. These connectivity provide services like automation, energy management and security management.

With the application of cloud computing and IoT, integrated with wireless service networks are uplifting smart home applications. While the market for smart home is at emerging stage of adoption but it is recently that smart locks are used extensively. These locks use smartphone as a key and monitors the things. This connectivity is in high demand ranging from smart locks to smart refrigerators that can monitor food consumption and smart carpets that can recognize unauthorized entry.  Manufacturers, telecom providers, retailers, and other service providers are expected to proactively drive this adoption.

IoT smart home market confronts multiple providers including utility companies, home security providers and telecoms companies. Service providers are still in the early stage of exploring this market, with either partnering with companies that have applicable technologies or developing their own version of technology. These technologies are expected to cover different product areas that include security, energy management, lighting, water, thermostats, weather, appliances, smoke and fire.

 A key factor for the growth of IoT smart home market is the decreasing costs of home control systems, which are multifunctional and easier to use. The need for ‘always on’ connectivity is refocussing from ‘on-the go’ to ‘at-home’. From smartphones penetrating more number of people to internet penetrating more number of homes, the factors driving the growth are diverse. Consumer awareness for IoT smart home market is further expected to drive market growth in the forecast year.

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Digital & physical security and privacy continue to hinder the adoption of smart home devices & systems. Complicated Systems that require maintenance and self-installation also hinders market growth. The requirement for interoperability in the smart home is the greatest barrier for the adoption. Further, connected services usually have many components that include devices, cabling, applicators and remote controls, which leads to complexity. This is also expected to hinder market growth.

The global IoT smart home market is segmented into product and provider. Based on the product segmented, the market is categorized into utilities management, appliances, thermostats, security, wellness monitoring and others. Further, on the basis of providers, the market can be segmented into service provider and device provider.

In terms of regional market, North America has been the largest market for IoT smart homes, whereas, APAC is expected to dominate during the forecast period. This is due to the increasing initiatives to strengthen the building infrastructure and growing demand for energy management in the region.

Some of the key vendors in the IoT smart home market includes Amazon, Nest (Alphabet), Apple, Inc., August Home Inc., Philips Siemens AG, United Technologies Corporation, General Electric Company, Schneider Electric, Honeywell International, Inc., Ingersoll-Rand PLC, Johnson Controls, Inc., ABB Ltd., Legrand S.A., Samsung Electronics Co., Ltd., Acuity Brands, Inc., Lutron Electronics Co. Inc., and Leviton Manufacturing Company, Inc.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

• Market segments and sub-segments
• Market trends and dynamics
• Supply and demand
• Market size
• Current trends/opportunities/challenges
• Competitive landscape
• Technological breakthroughs
• Value chain and stakeholder analysis

The regional analysis covers:

• North America (U.S. and Canada)
• Latin America (Mexico, Brazil, Peru, Chile, and others)
• Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
• Eastern Europe (Poland and Russia)
• Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
• Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

• A complete backdrop analysis, which includes an assessment of the parent market
• Important changes in market dynamics
• Market segmentation up to the second or third level
• Historical, current, and projected size of the market from the standpoint of both value and volume
• Reporting and evaluation of recent industry developments
• Market shares and strategies of key players
• Emerging niche segments and regional markets
• An objective assessment of the trajectory of the market
• Recommendations to companies for strengthening their foothold in the market

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.