Robotic Process Automation in Healthcare Market is Expected to Reach USD 2,081.9 Million by 2030
As per the report published by Kings Research, the global Robotic Process Automation in Healthcare Market was valued at USD 273.3 million in 2022 and is projected to reach USD 2081.9 million by 2030, growing at a CAGR of 33.6% from 2023 to 2030.
The rising integration of cutting-edge technologies such as AI, machine learning, and the cloud in the healthcare industry is driving market expansion. The major drivers of the global robotic process automation market are the growing need to optimize operations to improve efficiency and profit, increased integration of novel technologies, and changing business processes in various companies. The robotic process automation market growth is proliferated by the development of robust software platforms, reduction of labor costs, and continuous advances in artificial intelligence and cognitive computing.
- Based on components, the services segment is growing at a CAGR of 30.5% over the forecast period
- Based on organization type, the large enterprise segment dominated with a market share of USD 178.3 million in 2022
- Based on application, the billing and compliance management segment was the dominating segment with a market share of 33.6% in 2022
- On the basis of the region, North America accounted for the largest market value of USD 106.5 billion in 2022
nThrive Launched Robotic Process Automation (RPA) Technology to Improve Productivity
June 2020: nThrive launched robotic process automation (RPA) technology to automate processes and replicate the actions of human workers interacting with one or more system user interfaces. This automation results in improved productivity and efficiencies for health systems and hospitals.
Growing Adoption of RPA Services for Healthcare in Care Delivery Operations to Drive Market Growth
The integration of robotic process automation into healthcare helps streamline healthcare processes and enables organizations to be adaptable, competitive, and scalable. It also helps improve work efficiency, effectiveness, and participation rates, which assist in eliminating routine tasks. As a result, the duration of employees' work shifts is reduced, and entire repetitive task processes are automated. Healthcare RPA delivers high-value healthcare services with minimal risk and accelerates digital transformation and innovation.
As a result, it saves time for healthcare providers and allows for better diagnosis, nursing work, and communication and engagement between patients and providers which drives the market growth.
Proliferating Need to Improve Patient Care by Automating Repetitive and Manual Processes Augments Market Growth
Robotic process automation (RPA) in healthcare has several growth opportunities owing to the growing need to automate healthcare workflows and procedures. RPA is helping healthcare organizations improve patient care by automating repetitive and manual processes that can reduce errors and improve efficiency.
In addition, RPA can be used for managing patient data, automating appointment scheduling, and automating lab work. The growth of the market is expected to be enormously influenced by several factors, such as increasing demand for healthcare automation and digitization with the growing need for artificial intelligence (AI) and machine learning (ML) across the industry.
Therefore, the RPA market is expected to gain significant growth potential in the healthcare industry as organizations have successfully adopt and utilize these technologies to reap significant benefits in terms of operational efficiency, quality of care, and savings.
North America is Growing Rapidly with a Forecasted CAGR of 33.9% Over the Forecast Period
The North American market is experiencing high growth owing to the increased adoption of next-generation hospitals which have the ability to manage large client loads in clinics and hospitals. Market vendors across the region are developing and implementing RPA-based cloud and artificial intelligence technologies to automatically improve business workflows and procedures.
Europe is the Second Dominating Region with a Market Share of 32.1% in 2022
Europe is expected to grow at a rapid pace due to the growing demand for automation and digitization in various industries and the presence of several large RPA vendors. In addition, RPA has already been implemented in some European hospitals to streamline processes and make treatment more efficient. Some of the potential opportunities for RPA in healthcare include improving administrative processes, such as managing patient records and appointment scheduling and streamlining clinical workflows, such as medication management and automating repetitive tasks.
Key Players in the Market are Launching New Products to Enhance their Product Portfolio
The global robotic process automation market is supported by key players such as Automation Anywhere, Inc. Datamatics Global Services Limited, Exela Technologies, Inc., FinThrive, Fortra, LLC, Microsoft Corporation, OnviSource, Inc., Opteamix, Pegasystems, Inc., Salesforce, Inc., UiPath, Xerox Corporation. These companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.