ICT-IOT

Robotic Process Automation in Healthcare Market

Global Industry Analysis and Forecast 2023-2030

Pages : 120

Base Year : 2022

Released Year : August 2023

Format :Pdf Ppt Xls

Report ID:KR78

Author : Shreya S.

Snapshot Icons

Base Year

2022

Snapshot Icons

Forecast Year

2023-2030

Snapshot Icons

Historical Years

2018-2021

Snapshot Icons

Market Value (2022)

USD 273.3 Million

Snapshot Icons

Forecasted Value (2030)

USD 2,081.9 Million

Snapshot Icons

CAGR (2023 - 2030)

33.6%

Snapshot Icons

Fastest Growing Region (2023 - 2030)

Asia-Pacific

Snapshot Icons

Largest Region

North America

Snapshot Icons

By Component

Services, Software

Snapshot Icons

By Organization Type

Large Enterprise, SMEs

Snapshot Icons

By Application

Billing and Compliance Management, Appointment Scheduling, Clinical Documentation, Workflow Management, Claims Management


Market Perspective

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 RPA is experiencing significant growth owing to its emerging application in next-generation hospitals and the ability to manage humongous client data in clinics and hospitals. Customers and the healthcare sector are investing in process automation software to build stronger, more durable control systems in an effort to increase market share which accelerates the adoption of RPA technologies among large enterprises as well as small and medium-sized enterprises companies (SMEs). RPA is helping healthcare organizations improve efficiency, reduce costs, and improve the quality of patient care by automating routine tasks. However, the concerns related to high initial investment and the dearth of skilled workforce pose a challenge for the market.

Analyst’s Review on Robotic Process Automation in Healthcare Market

The automation of hospital processes has enhanced data collection and analysis that supports evidence-based data in healthcare organizations. The robotic process automation (RPA) sector has grown tremendously owing to the integration of AI and ML technology. RPA development services and solutions take care of labor-intensive, rule-based chores and help businesses use their resources more effectively and boost their return on investment. With the automation of robotic processes in healthcare, accuracy and time are of the essence, and RPA services help prevent medical inefficiencies and reduce time to improve patient experiences.

Market Definition

Robotic process automation is observed as a convenient and easy-to-understand way to speed up critical processes and extend the life of existing systems. With RPA, patient data can be directly processed during the patient's treatment, which helps hospital staff extract all relevant information and enter it into digital systems. Moreover, RPA bots provide the patient with appointment schedules according to their needs and based on the doctor's availability. It combines API and user interface (UI) interaction to integrate and perform repetitive tasks between business and productivity applications. By deploying scripts that mimic human processes, RPA tools autonomously perform various tasks, functions, and events in independent software systems.

Market Dynamics

The growth of robotic process automation in the healthcare market is largely fueled by the increased use of the latest technologies such as artificial intelligence (AI) and machine learning (ML) services and by supporting cloud infrastructure. Healthcare companies are using RPA to automate operations and manage increasingly complex data. Companies are developing and implementing RPA-based technologies to automatically improve business workflows and procedures. Healthcare organizations, including hospitals and physician networks, leverage automation technologies to drive efficiency and value.

Adopting RPA technology requires companies to invest in solid infrastructure and a competent team to manage all operations. Building an RPA infrastructure, acquiring experts or training existing employees, and deploying robots in the healthcare sector are challenging and expensive. Additionally, automation robot platforms are constantly changing, and decision-making flexibility is not always built into robots. While RPA can help increase efficiency and value in healthcare, there are concerns that the industry faces a limited availability of healthcare professionals needed to effectively adopt and manage these technologies. The significant shortage of skilled workers in the cybersecurity industry could affect the adoption and success of automation technologies more broadly.

Segmentation Analysis

The global robotic process automation in healthcare market is segmented based on component, organization size, application, and geography.

Based on components, the market is classified into services and software. The service segment dominated the market with a market value of USD 157.7 million in 2022. The segment growth is accelerated by the widespread adoption of RPA-as-a-Service by several companies around the world. Market vendors are also expanding and developing advanced technologies as services, such as artificial intelligence and cloud-based RPA which drive the segment growth.

Based on organization size, robotic process automation in healthcare market is bifurcated into large enterprises and SMEs. The large enterprise segment is the dominating segment with a market share of 65.2% in 2022. The segment growth is accelerated by the increased focus of healthcare organizations on routine workflow management which encompasses multiple functions including, inventory, tracking, resource utilization, and many more.

Based on application, the robotic process automation in healthcare market is segmented into billing and compliance management, appointment scheduling, clinical documentation, workflow management, and claims management. The billing and compliance management segment is the dominant segment, with a market value of USD 91.7 million in 2022. The segment's growth is rising owing to the increased requirement for information about services used by patients, insurance, treatment plans, doctors consulted, and many other billing documents. In addition to this, creating patient invoices based on treatment history, as well as sending statements and invoices to patients, becomes an easy process with automation which drives the market growth.

Geographical Analysis

Based on regional analysis, the global robotic process automation in healthcare market is classified into North America, Europe, Asia Pacific, MEA, and Latin America.

In North America, robotic process automation in the healthcare market dominated the market with a market value of USD 106.5 million in 2022. The market is growing rapidly owing to the increased implementation of AI and ML in the healthcare industry. The ongoing adoption of robotic technologies across the region has propelled the implementation of automated solutions for efficient workflow. Additionally, many robotics and robotic process automation platforms have greatly facilitated vaccine dissemination in many healthcare settings. For instance, in July 2020, the U.S. Veterans Administration (VA) requested feedback on using RPA to rapidly convert and digitize all health records. Using the RPA tool, the VA aimed to streamline and digitize the retrieval of external clinical records integrated with the existing EHR system and ultimately the Cerner Millennium EHR platform. This automated process aims to eliminate backlogs, reduce administrative burdens and manual tasks, and improve quality and traceability, which further fosters market growth.

Asia Pacific is the fastest-growing region, with a forecasted CAGR of 37.4% over the forecast period. The market is growing rapidly with the acceptance and adoption of RPA technology. With the increasing need for operational efficiency and cost savings among several healthcare organizations, the market across the region is expected to grow rapidly. The increased concentration and adoption of the digital workforce and the operational advantage of business process automation (RPA) solutions across various end-user industries further propel market growth. Additionally, there is an increasing need for automation, and both major corporations and SMEs. The market in the region is also anticipated to increase as a result of the emerging adoption of Industry 4.0 in industrial applications.

Competitive Landscape

The global robotic process automation in healthcare industry study report will provide valuable insight with an emphasis on the fragmented nature of the global market. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their respective market shares across different regions. Development and investments involve a range of strategic initiatives including investments in R&D activities, new manufacturing facilities, and supply chain optimization. The major players in the market are

  • 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

Key Developments

  • June 2021 (Product Launch): Exela Technologies, Inc. launched Exela's robotic process automation (RPA) platform EON, which automates the processing and fulfillment process. This solution significantly reduces processing time and shortens the overall responsibility of members and service providers.
  • January 2020 (Product Launch): OnQ launched Robotic Process Automation (RPA) products and services that significantly improve quality, increase efficiency and simplify pharmaceutical billing processes.

The global Robotic Process Automation in Healthcare Market is segmented as:

By Component

  • Services
  • Software

By Organization Type

  • Large Enterprise
  • SMEs

By Application

  • Billing and Compliance Management
  • Appointment Scheduling
  • Clinical Documentation
  • Workflow Management
  • Claims Management

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • UK
    • Spain
    • Germany
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • North Africa
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
CHOOSE LICENCE TYPE
  • Check Icon 1 User Access
  • Check Icon PDF Report View
  • Check Icon Non-Printable
  • Check Icon 32 Man-hours Analyst Support
  • Check Icon Post-Sale Support 48 Hours
Customize
CUSTOMIZATION OFFERED
  • Check Icon Additional Company Profiles
  • Check Icon Additional Countries
  • Check Icon Cross Segment Analysis
  • Check Icon Regional Market Dynamics
  • Check Icon Country-Level Trend Analysis
  • Check Icon Competitive Landscape Customization
  • Check Icon Extended Forecast Years
  • Check Icon Historical Data Up to 5 Years
Frequently Asked Questions (FAQ's)
The global robotic process automation in healthcare market is projected to reach USD 2,081.9 million by 2030, growing at a CAGR of 33.6% from 2023 to 2030.
The global robotic process automation in healthcare market was valued at USD 273.3 million in 2022.
The RPA market is experiencing a significant growth owing to their emerging use in next-generation hospitals and the ability to manage large client loads in clinics and hospitals. Customers and the healthcare industry are investing in process automation software to create better control systems and longer life control systems which accelerates the market share.
Top manufacturers of robotic process automation in healthcare market are 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, and others.
Asia-Pacific is the fastest growing region with the CAGR of 37.41% in the forecasted period (2023-2030) with the market value forecasted to reach at USD 527.80 million.
By component, services will hold the maximum share in the robotic process automation in healthcare market with the revenue value of USD 1,291.0 million in 2030.
Get the latest!

Get actionable strategies to empower your business and market domination

  • Deliver Revenue Impact
  • Demand Supply Patterns
  • Market Estimation
  • Real-Time Insights
  • Market Intelligence
  • Lucrative Growth Opportunities
  • Micro & Macro Economic Factors
  • Futuristic Market Solutions
  • Revenue-Driven Results
  • Innovative Thought Leadership