|Market Size in 2018||Market Forecast in 2025||Growth Rate (in %)||Base Year|
|USD 292.5 Million||USD 2,300.5 Million||CAGR at 34.4%.||2018|
Healthcare Virtual Assistants Market
The report covers forecasts and analyses for the healthcare virtual assistants market on a global and regional level. The study provides historic data from 2016 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the healthcare virtual assistants market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the healthcare virtual assistants market on a global as well as regional level.
In order to give the users of this report a comprehensive view of the healthcare virtual assistants market, we have included a competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein the product and services segment is benchmarked based on their market size, growth rate, and general attractiveness.
The report provides a company market share analysis in order to give a broader overview of the key players in the healthcare virtual assistants market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the healthcare virtual assistants market on a global and regional basis.
Virtual assistants are artificial intelligence (AI) based systems that work with humans to carry out various tasks. Virtual assistants employ cognitive technologies like natural language processing, machine learning, and neural networks in order to facilitate communications with the users. In the healthcare industry, virtual assistants are employed to increase patient engagement. Healthcare virtual assistants enable organizations to collect insurance details, demographic information, patient health history, data mining, procurement details, and finance/costing.
Factors such as the rise in the number of smartphone users globally, growing use of healthcare and medical applications, growing focus on creating conversational tools for virtual assistants, increasing demand for quality healthcare infrastructure, and growing incidence of chronic disorders will act as major driving factors in the growth of global healthcare virtual assistants market. The development of multi-language supported virtual assistant tools and technological advancements in the healthcare sector will act as an opportunity for the market players in the healthcare virtual assistants market. Nonetheless, the dearth of organized data in the medical and healthcare sector will restrict the growth of the global healthcare virtual assistants market.
The global healthcare virtual assistants market has been split into the product, user interface, end user, and region. Based on the product, the healthcare virtual assistants market has been segmented into chatbots and smart speakers. The smart speaker segment accounted for the highest market share in 2018 due to the growing preference for high-tech products and the convenience offered by smart speakers. The user interface segment has been segmented into text-to-speech, text-based, automatic speech recognition, and others. The automatic speech recognition segment is expected to grow at the topmost CAGR during the estimated time frame. The end user segment has been segmented into healthcare payers, patients, healthcare providers, and others.
|Report Attributes||Report Details|
|Report Name||Healthcare Virtual Assistants Market Research Report|
|Market Size in 2018||USD 292.5 Million|
|Market Forecast in 2025||USD 2,300.5 million|
|Growth Rate||CAGR of 34.4%.|
|Number of Pages||110|
|Key Companies Covered||Microsoft, Nuance Communications Inc., Amazon, Sensly, HealthTap Inc., Infermedica, eGain Corporation, Babylon Healthcare Services Ltd, Verint Systems Inc., and Kognito Solutions LLC among others.|
|Segments Covered||By Product , By User Interface, By End User, and By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Historical Year||2018 to 2025|
|Forecast Year||2019 - 2025|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
North America will be the leading region during the forecast period. Rapid uptake of new technologies, adoption of multiple patient engagement technologies, and high awareness regarding virtual assistants will boost the market growth in this region. Europe will be the second largest market. The major reasons are the growing demand for reducing healthcare costs, support from the government, and high awareness regarding the use of technology in healthcare. The Asia Pacific will grow at a speedy rate over the estimated period due to a high number of smartphone users, growing internet connectivity, advancements in medical technology, and increasing use of remote observing devices. The Latin American market will develop at a significant rate during the forecast period. The African and Middle Eastern countries are expected to experience noticeable growth in the projected time frame.
The report also includes detailed profiles of key players such as Microsoft, Nuance Communications Inc., Amazon, Sensly, HealthTap Inc., Infermedica, eGain Corporation, Babylon Healthcare Services Ltd, Verint Systems Inc., and Kognito Solutions LLC among others.
This report segments the Global Healthcare Virtual Assistants Market as follows: