The Healthcare Virtual Assistants Market size was valued at USD 957.61 million in 2022 and is projected to reach USD 10.44 billion with a growing CAGR of 34.8% over the forecast period 2023-2030.
An application software known as a virtual assistant, also known as a digital assistant or an AI assistant, is one that can recognize and carry out user-provided voice commands in natural language. It is a software agent that works on a person's behalf and can carry out tasks in response to inquiries or orders. Virtual healthcare assistants are virtual assistants that are used in the healthcare sector and who contribute to raising the level of patient participation.
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These assistants improve the healthcare procedures and enable the organisations collect data on the patient's medical history, demographics, insurance information, and other record analyses. Physicians will be able to concentrate more on patients thanks to these functions, which will help productivity rise. Payers can utilise virtual healthcare assistants to gather vital biometric information from patients with chronic illnesses and make sure that patients are actively involved in their care. Additionally, virtual assistants will help patients select the best insurance strategy. All of these will help to maximize results, effectiveness, and pleasure.
DRIVERS
Expanding use of healthcare applications and smartphone users
Medical errors and rising healthcare costs must be reduced
Increasing Need for High-Quality Healthcare
RESTRAINTS
Healthcare Sector Doesn't Have Enough Structured Data
Privacy Issues Associated with Data
OPPORTUNITIES
Growing Attention to the Development of Conversational Virtual Assistant Tools
Tools for Virtual Assistants in Healthcare with Multi-Language Support
CHALLENGES
Connectivity Range and Compatibility Problems
There is a shortage of skilled workers and the regulatory environment for medical software is uncertain.
In order to aid healthcare organisations during the COVID-19 pandemic, the deployment of the new interactive Chatbot and voice assistant has risen. The COVID-19 Virtual Assistant seeks to aid in public education about the virus and provide medical professionals with assistance when screening and prioritizing patients who may be infected.
Healthcare IT solutions have seen a nearly global increase in demand over the last one to three years. However, because of the COVID-19 outbreak and the resulting rise in healthcare concerns and medical aid, it is anticipated that adoption of healthcare IT solutions would rise by roughly 8% to 10% this year.
Additionally, the market is anticipated to grow significantly between Q3 and Q4 in order to help with the escalating healthcare events following this pandemic condition.
By Product type
During the projected period, the smart speaker’s sector is anticipated to develop at the fastest rate. This market's expansion can be linked to consumers' rising appetite for cutting-edge technical goods. Smart speakers are versatile, quick, diversified, and dependable solutions. This not only saves time, but it also makes things cozier and more convenient.
By User Interface
During the projected period, the automatic voice recognition category is anticipated to develop at the greatest CAGR. Due to its growing application in smart speakers, the automatic voice recognition market is anticipated to see the greatest CAGR.
By End User
Healthcare payers, patients, healthcare providers, and other entities make up the market. Due to the growing usage of virtual assistants among healthcare professionals, the market for healthcare providers is expected to grow rapidly and occupy the highest share over the projected period. This is a result of both the providers' desire to increase job productivity and the widespread use of cutting-edge technical solutions. The virtual assistants help the healthcare providers with a number of tasks, including scheduling, billing, and coding. They also aid with answering phone calls.
By Product type
Smart Speakers
Chatbots
By User Interface
Automatic Speech Recognition
Text-based
Text-to-speech
Others
By End User
Healthcare Providers
Patients
Healthcare Payers
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The market for healthcare virtual assistants is divided into four regions: North America, Asia Pacific, Europe, and the Rest of the World. The global market for healthcare virtual assistants would be dominated by North America during the forecast period. The rapid acceptance of new technologies, rising incidence of chronic diseases, widespread use of patient engagement tools, rising healthcare costs in the area, and widespread use of virtual assistants will all contribute to the market's expansion. Additionally, the majority of the vendors for virtual assistants in healthcare are situated here. Second in terms of market size will be Europe.
REGIONAL COVERAGE
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Some of the major key plyers are as follows: Amazon, Babylon Healthcare Services Limited, CSS Corporation, Health tap, Inc., Egain Corporation, Infermedica, Kognito Solutions, LLC, Microsoft Corporation, Nuance Communications, Inc., Sensely, Inc., and Verint Systems Inc.and Other Players.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 957.61 Million |
| Market Size by 2030 | US$ 10.44 Billion |
| CAGR | CAGR of 34.8% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product type (Smart Speakers, Chatbots) • By User Interface (Automatic Speech Recognition, Text-based, Text-to-speech, Others) • By End User (Healthcare Providers, Patients, Healthcare Payers) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Amazon, Babylon Healthcare Services Limited, CSS Corporation, Health tap, Inc., Egain Corporation, Infermedica, Kognito Solutions, LLC, Microsoft Corporation, Nuance Communications, Inc., Sensely, Inc., and Verint Systems Inc. |
| DRIVERS | • Expanding use of healthcare applications and smartphone users • Medical errors and rising healthcare costs must be reduced • Increasing Need for High-Quality Healthcare |
| RESTRAINTS | • Healthcare Sector Doesn't Have Enough Structured Data • Privacy Issues Associated with Data |
Ans:- The Healthcare Virtual Assistants Market size was valued at US$ 957.61 million in 2022.
Amazon, Babylon Healthcare Services Limited, CSS Corporation, Health tap, Inc., Egain Corporation, Infermedica, Kognito Solutions, LLC, are the key players of Healthcare Virtual Assistants market
The global market for healthcare virtual assistants would be dominated by North America during the forecast period.
Medical errors and rising healthcare costs must be reduced, Increasing Need for High-Quality Healthcare are the key driver of the Healthcare Virtual Assistants market
Ans: The Healthcare Virtual Assistants Market is to grow at a CAGR of 34.8% over the forecast period 2023-2030.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Healthcare Virtual Assistants Market Segmentation, By Product type
8.1 Smart Speakers
8.2 Chatbots
9. Healthcare Virtual Assistants Market Segmentation, By User Interface
9.1 Automatic Speech Recognition
9.2 Text-based
9.3 Text-to-speech
9.4 Others
10. Healthcare Virtual Assistants Market Segmentation, By End User
10.1 Healthcare Providers
10.2 Patients
10.3 Healthcare Payers
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12.Company Profiles
12.1 Amazon
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Babylon Healthcare Services Limited
12.3 CSS Corporation
12.4 Healthtap, Inc.
12.5 Egain Corporation
12.6 Infermedica
12.7 Kognito Solutions, LLC
12.8 Microsoft Corporation
12.9 Nuance Communications, Inc.
12.10 Sensely, Inc.
13.Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share Analysis
13.3 Recent Developments
14.Conclusion
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