Get more information on Healthcare Virtual Assistants Market - Request Sample Report
The Healthcare Virtual Assistants Market size was valued at USD 1290.85 million in 2023 and is projected to reach USD 14073.35 billion with a growing CAGR of 34.8% over the forecast period 2024-2031.
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.
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.
Healthcare Virtual Assistants Market Segment Analysis
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.
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.
Need any customization research on Healthcare Virtual Assistants Market - Enquiry Now
KEY PLAYERS:
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 2023 | US$ 1290.85 Million |
Market Size by 2031 | US$ 14073.35 Billion |
CAGR | CAGR of 34.8% From 2024 to 2031 |
Base Year | 2023 |
Forecast Period | 2024-2031 |
Historical Data | 2020-2022 |
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$ 1290.85 million in 2023.
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 2024-2031.
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
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
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
Request for Segment Customization as per your Business Requirement: Segment Customization Request
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Request for Country Level Research Report: Country Level Customization Request
Available Customization
With the given market data, SNS Insider offers customization as per the company’s specific needs. The following customization options are available for the report:
Product Analysis
Criss-Cross segment analysis (e.g. Product X Application)
Product Matrix which gives a detailed comparison of product portfolio of each company
Geographic Analysis
Additional countries in any of the regions
Company Information
Detailed analysis and profiling of additional market players (Up to five)
The Respiratory Care Device Market was esteemed at USD 21.5 billion in 2023, and is to reach USD 39.79 billion by 2031, enrolling an expected CAGR of 8% during the forecast period 2024-2031.
The Oxygen Therapy Market Size was valued at USD 33.82 billion in 2023 and is expected to reach USD 61.08 billion by 2032 and grow at a CAGR of 6.79% over the forecast period 2024-2032.
The Compression Therapy Market size was valued at USD 4.06 Billion in 2023 & is estimated to reach USD 7.86 Billion by 2032 with a growing CAGR of 7.63% over the forecast period of 2024-2032.
The Behavioral Health Software Market Size was valued at USD 2.9 billion in 2023 and is expected to reach USD 11.6 billion by 2031 and grow at a CAGR of 19.0% over the forecast period 2024-2031.
The Medical Device Cleaning Market Size was valued at USD 22.98 billion in 2023 and is expected to reach USD 58.07 billion by 2032 and grow at a CAGR of 10.85% over the forecast period 2024-2032.
The Fibromyalgia Treatment Market Size was valued at USD 3.32 billion in 2023, and is expected to reach USD 4.7 billion by 2032, and grow at a CAGR of 3.9% over the forecast period 2024-2032.
Hi! Click one of our member below to chat on Phone