Report Detail
Global Healthcare Virtual Assistant Market - Segment Analysis, Opportunity Assessment, Competitive Intelligence, Industry Outlook 2016-2023
- RnM3716136 |
- 02 September, 2019 |
- Global |
- 160 Pages |
- AllTheResearch |
- Healthcare
The global healthcare virtual assistant market was valued at US$ 291.5 Mn the year 2018 and is expected to reach US$ 1311.9 Mn in the year 2023, growing at a CAGR of 35.1%.
A healthcare virtual assistant is an AI-powered tool that can be used by patients for answering their health-related queries by using web- and mobile-based interactive applications. Healthcare Virtual Assistants help physicians in updating electronic health records and enable them to get access to schedules, patients’ history, etc. All these functions will help increase productivity and help physicians to focus more on patients rather than administrative tasks.
Healthcare virtual assistants can be used by payers to collect key biometric data of chronically ill patients, and ensure proactive engagement of patients. Also virtual assistants will help patients choose the right insurance plan. All these, in turn, will help in maximizing efficiency, outcome, and satisfaction.
The rising prevalence of chronic diseases, coupled with the increasing demand for quality healthcare delivery, is one of the major factors to drive the healthcare virtual assistant market. Increasing number of smartphone users across the globe and the increasing use of healthcare apps by patients are also contributing to the growth of the healthcare virtual assistant market.
Apart from these, the implementation of IoT in healthcare is expected to positively impact the healthcare virtual assistants market. Technological advancements in Natural Language Processing, Artificial Intelligence, and deep learning and machine learning, are expected to further drive the market. The integration of healthcare virtual assistants in the healthcare ecosystem will help reduce the overall health cost, which will be one of the major factors for the adoption of healthcare virtual assistants by healthcare providers.
However, looming concerns over the security of patient data and the lack of structured data in healthcare are expected to restrain the growth of the market.
The healthcare virtual assistant market report covers an in-depth analysis of the market including statistical and subjective data points, along with the key market drivers and opportunities & restraints that have positive or negative effects on the overall global market. An exclusive coverage has been provided for market drivers and challenges & opportunities for a country-level market in the respective regional segments. The report comprises a competitive analysis of the key players functioning in the market and covers in-depth data related to the competitive landscape of the market and the recent strategies & products that will assist or affect the market in the near future.
Based on the user interface, the automatic speech recognition segment is expected to grow at the highest CAGR during the forecast period due to its increasing use in smart speakers.
Based on the product type, the smart speakers segment is expected to exhibit the highest CAGR. Major factors that are driving the use of smart speakers is the increasing preference for technologically advanced products. Also, smart speakers save time of users and also offer greater convenience.
On the basis of end-user, the healthcare providers sub-segment is expected to hold the largest share
in the market. The integration of virtual assistants in healthcare helps healthcare providers to improve clinical workflow and thereby, increase work efficiency. Healthcare providers use virtual assistants for functions like billing, coding, answering calls, and managing physicians’ schedules, amongst others.
Geographically, North America accounted for the largest share in the market in the base year. Increasing healthcare expenditure in this region, coupled with the rising adoption of technology by healthcare providers and patients alike, is one of the major factors for the dominance of this region. Furthermore, most of the healthcare virtual assistant vendors are present in this region.
However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The rising use of smartphones and remote patient monitoring devices, coupled with a rising aging population and growing prevalence of chronic diseases, is expected to drive the growth of the healthcare virtual assistants market in this region. Apart from these, the growing need to reduce healthcare costs is further expected to drive the market. Moreover, countries like China and South Korea are investing in AI in Healthcare.
Company Profiles and Competitive Intelligence:
The major players operating in the healthcare virtual assistant market are Amazon (US), Babylon Healthcare Services Limited (UK), CSS Corporation (US), Egain Corporation (US), Healthtap, Inc. (US), Infermedica (Poland), Kognito Solutions, LLC (US), Microsoft Corporation (US), Nuance Communications, Inc. (US), and Verint Systems Inc. (US) amongst others.
Nuance Communications Inc. is one of the leaders in the healthcare virtual assistants market. The company has a wide geographical presence and a strong product portfolio, and caters to various industry verticals. In the healthcare sector, the company’s clinical documentation solution is used by more than 10,000 healthcare facilities and 50,000 clinicians. Most of the companies are focusing on new product launches and mergers and acquisitions as major strategies for growth.
Table of Content
Chapter 1 Preface
- 1.1 Report Description
- 1.1.1 Purpose of the Report
- 1.1.2 Target Audience
- 1.1.3 USP and Key Offerings
- 1.2 Research Scope
- 1.3 Research Methodology
- 1.3.1 Phase I – Secondary Research
- 1.3.2 Phase II – Primary Research
- 1.3.3 Phase III – Expert Panel Review
- 1.3.4 Approach Adopted
- 1.3.4.1 Top-Down Approach
- 1.3.4.2 Bottom-Up Approach
- 1.3.5 Assumptions
- 1.4 Market Segmentation Scope
Chapter 2 Executive Summary
- 2.1 Market Summary
- 2.1.1 Global Healthcare Virtual Assistants Market, 2016-2023, (US$ Mn)
- 2.1 Market Snapshot: Global Healthcare Virtual Assistants Market
- 2.2 Market Dynamics
- 2.3 Global Healthcare Virtual Assistants Market, by Segment, 2018
- 2.3.1 Global Healthcare Virtual Assistants Market, by Product Type, 2018, (US$ Mn)
- 2.3.2 Global Healthcare Virtual Assistants Market, by User Interface, 2018 (US$ Mn)
- 2.3.3 Global Healthcare Virtual Assistants Market, by End-user, 2018 (US$ Mn)
- 2.3.4 Global Healthcare Virtual Assistants Market, by Region, 2018 (US$ Mn)
- 2.4 Premium Insights
- 2.4.1 Healthcare Virtual Assistants Market In Developed Vs. Developing Economies, 2018 vs 2023
- 2.4.2 Global Healthcare Virtual Assistants Market: Regional Life Cycle Analysis
Chapter 3 Market Dynamics
- 3.1 Market Overview
- 3.2 Market Drivers
- 3.2.1 Increasing smartphone penetration and increasing use of healthcare applications
- 3.2.2 Technological Advancements in Natural Language Processing, Deep learning and Machine Learning
- 3.2.3 Growing demand for quality healthcare
- 3.2.4 Growing need to reduce healthcare costs
- 3.3 Market Restraints
- 3.3.1 Concerns Regarding patient data privacy
- 3.3.2 Lack of structured data in the healthcare industry
- 3.4 Market Opportunities
- 3.4.1 Support in Multiple languages with virtual assistant tools
- 3.5 Industry Value Chain Analysis
- 3.5.1 Analyst’s Views
- 3.6 Industry SWOT Analysis
Chapter 4 Global Healthcare Virtual Assistants Market, by Product Type
- 4.1 Market Overview, by Product Type
- 4.1.1 Global Healthcare Virtual Assistants Market, by Product Type, 2016-2023 (US$ Mn)
- 4.1.2 Incremental Opportunity, by Product Type, From 2018-2023
- 4.2 Smart Speakers
- 4.2.1 Global Healthcare Virtual Assistants Market, by Smart Speakers, 2016-2023, (US$ Mn)
- 4.3 Chatbots
- 4.3.1 Global Healthcare Virtual Assistants Market, by Chatbots, 2016-2023, (US$ Mn)
Chapter 5 Global Healthcare Virtual Assistants Market, by User Interface
- 5.1 Market Overview, by User Interface
- 5.1.1 Global Healthcare Virtual Assistants Market, by User Interface, 2016-2023 (US$ Mn)
- 5.1.2 Incremental Opportunity, by User Interface, From 2018-2023
- 5.2 Automated speech recognition
- 5.2.1 Global Healthcare Virtual Assistants Market, by Automated speech recognition, 2016-2023, (US$ Mn)
- 5.3 Text-based
- 5.3.1 Global Healthcare Virtual Assistants Market, by Text-based, 2016-2023, (US$ Mn)
- 5.4 Text-to-Speech
- 5.4.1 Global Healthcare Virtual Assistants Market, by Text-to-Speech, 2016-2023, (US$ Mn)
- 5.5 Others
- 5.5.1 Global Healthcare Virtual Assistants Market, by Others, 2016-2023, (US$ Mn)
Chapter 6 Global Healthcare Virtual Assistants Market, by End-user
- 6.1 Market Overview, by End-user
- 6.1.1 Global Healthcare Virtual Assistants Market, by End-user, 2016-2023 (US$ Mn)
- 6.1.2 Incremental Opportunity, by End-user, From 2018-2023
- 6.2 Providers
- 6.2.1 Global Healthcare Virtual Assistants Market, by Providers, 2016-2023, (US$ Mn)
- 6.3 Payers
- 6.3.1 Global Healthcare Virtual Assistants Market, by Payers, 2016-2023, (US$ Mn)
- 6.4 Patients
- 6.4.1 Global Healthcare Virtual Assistants Market, by Patients, 2016-2023, (US$ Mn)
Chapter 7 Global Healthcare Virtual Assistants Market, by Region
- 7.1 Market Overview, by Region
- 7.1.1 Global Healthcare Virtual Assistants Market, by Region, 2016-2023, (US$ Mn)
- 7.2 Attractive Investment Opportunity, by Region, 2018
- 7.3 North America Healthcare Virtual Assistants Market
- 7.3.1 North America Healthcare Virtual Assistants Market, by Product Type, 2016-2023 (US$ Mn)
- 7.3.2 North America Healthcare Virtual Assistants Market, by User Interface, 2016-2023 US$ Mn)
- 7.3.3 North America Healthcare Virtual Assistants Market, by End-user, 2016-2023 (US$ Mn)
- 7.3.4 United States Country Profile
- 7.3.4.1 United States Healthcare Virtual Assistants Market, 2016-2023 (US$ Mn)
- 7.3.5 Canada Country Profile
- 7.3.5.1 Canada Healthcare Virtual Assistants Market, 2016-2023 (US$ Mn)
- 7.4 Europe Healthcare Virtual Assistants Market
- 7.4.1 Europe Healthcare Virtual Assistants Market, by Product Type, 2016-2023 (US$ Mn)
- 7.4.2 Europe Healthcare Virtual Assistants Market, by User Interface, 2016-2023 (US$ Mn)
- 7.4.3 Europe Healthcare Virtual Assistants Market, by End-user, 2016-2023 (US$ Mn)
- 7.4.4 United Kingdom Country Profile
- 7.4.4.1 United Kingdom Healthcare Virtual Assistants Market, 2016-2023 (US$ Mn)
- 7.4.5 Germany Country Profile
- 7.4.5.1 Germany Healthcare Virtual Assistants Market, 2016-2023 (US$ Mn)
- 7.4.6 France Country Profile
- 7.4.6.1 France Healthcare Virtual Assistants Market, 2016-2023 (US$ Mn)
- 7.4.7 Italy Country Profile
- 7.4.7.1 Italy Healthcare Virtual Assistants Market, 2016-2023 (US$ Mn)
- 7.4.8 Spain Country Profile
- 7.4.8.1 Spain Healthcare Virtual Assistants Market, 2016-2023 (US$ Mn)
- 7.4.9 Rest of Europe
- 7.4.9.1 Rest of Europe Healthcare Virtual Assistants Market, 2016-2023 (US$ Mn)
- 7.5 Asia Pacific Healthcare Virtual Assistants Market
- 7.5.1 Asia-Pacific Healthcare Virtual Assistants Market, by Product Type, 2016-2023 (US$ Mn)
- 7.5.2 Asia-Pacific Healthcare Virtual Assistants Market, by User Interface, 2016-2023 (US$ Mn)
- 7.5.3 Asia-Pacific Healthcare Virtual Assistants Market, by End-user, 2016-2023 (US$ Mn)
- 7.5.4 China Country Profile
- 7.5.4.1 China Healthcare Virtual Assistants Market, 2016-2023 (US$ Mn)
- 7.5.5 Japan Country Profile
- 7.5.5.1 Japan Healthcare Virtual Assistants Market, 2016-2023 (US$ Mn)
- 7.5.6 India Country Profile
- 7.5.6.1 India Healthcare Virtual Assistants Market, 2016-2023 (US$ Mn)
- 7.5.7 South Korea Country Profile
- 7.5.7.1 South Korea Healthcare Virtual Assistants Market, 2016-2023 (US$ Mn)
- 7.5.8 Rest of Asia Pacific
- 7.5.8.1 Rest of Asia Pacific Healthcare Virtual Assistants Market, 2016-2023 (US$ Mn)
- 7.6 Rest of the World Healthcare Virtual Assistants Market
- 7.6.1 Rest of the World Healthcare Virtual Assistants Market, by Product Type, 2016-2023 (US$ Mn)
- 7.6.2 Rest of the World Healthcare Virtual Assistants Market, by User Interface, 2016-2023 (US$ Mn)
- 7.6.3 Rest of the World Healthcare Virtual Assistants Market, by End-user, 2016-2023 (US$ Mn)
- 7.6.4 Latin America
- 7.6.4.1 Latin America Healthcare Virtual Assistants Market, 2016-2023 (US$ Mn)
- 7.6.5 Middle East & Africa
- 7.6.5.1 Middle East & Africa Healthcare Virtual Assistants Market, 2016-2023 (US$ Mn)
Chapter 8 Competitive Intelligence
- 8.1 Market Players Present in Market Life Cycle
- 8.2 Top 5 Players Comparison
- 8.3 Market Positioning of Key Players, 2018
- 8.4 Market Players Mapping
- 8.4.1 By Product Type
- 8.4.2 By User Interface
- 8.4.3 By End-user
- 8.4.4 By Region
- 8.5 Strategies Adopted by Key Market Players
- 8.6 Recent Developments in the Market
- 8.6.1 Mergers & Acquisitions, Partnership, New Product Developments
- 8.7 Operational Efficiency Comparison by Key Players
Chapter 9 Company Profiles
- 9.1 Amazon.com
- 9.1.1 Amazon.com Overview
- 9.1.2 Key Stakeholders/Person in Amazon.com
- 9.1.3 Amazon.com Products Portfolio
- 9.1.4 Amazon.com Financial Overview
- 9.1.5 Amazon.com News/Recent Developments
- 9.2 Babylon Healthcare Services Limited
- 9.2.1 Babylon Healthcare Services Limited Overview
- 9.2.2 Key Stakeholders/Person in Babylon Healthcare Services Limited
- 9.2.3 Babylon Healthcare Services Limited Products Portfolio
- 9.2.4 Babylon Healthcare Services Limited Financial Overview
- 9.2.5 Babylon Healthcare Services Limited News/Recent Developments
- 9.3 CSS Corporation
- 9.3.1 CSS Corporation Overview
- 9.3.2 Key Stakeholders/Person in CSS Corporation
- 9.3.3 CSS Corporation Products Portfolio
- 9.3.4 CSS Corporation Financial Overview
- 9.3.5 CSS Corporation News/Recent Developments
- 9.4 Egain Corporation
- 9.4.1 Egain Corporation Overview
- 9.4.2 Key Stakeholders/Person in Egain Corporation
- 9.4.3 Egain Corporation Products Portfolio
- 9.4.4 Egain Corporation Financial Overview
- 9.4.5 Egain Corporation News/Recent Developments
- 9.5 Healthtap, Inc.
- 9.5.1 Healthtap, Inc. Overview
- 9.5.2 Key Stakeholders/Person in Healthtap, Inc.
- 9.5.3 Healthtap, Inc. Products Portfolio
- 9.5.4 Healthtap, Inc. Financial Overview
- 9.5.5 Healthtap, Inc. News/Recent Developments
- 9.6 Infermedica
- 9.6.1 Infermedica Overview
- 9.6.2 Key Stakeholders/Person in Infermedica
- 9.6.3 Infermedica Products Portfolio
- 9.6.4 Infermedica Financial Overview
- 9.6.5 Infermedica News/Recent Developments
- 9.7 Kognito Solutions, LLC
- 9.7.1 Kognito Solutions, LLC Overview
- 9.7.2 Key Stakeholders/Person in Kognito Solutions, LLC
- 9.7.3 Kognito Solutions, LLC Products Portfolio
- 9.7.4 Kognito Solutions, LLC Financial Overview
- 9.7.5 Kognito Solutions, LLC News/Recent Developments
- 9.8 Microsoft Corporation
- 9.8.1 Microsoft Corporation Overview
- 9.8.2 Key Stakeholders/Person in Microsoft Corporation
- 9.8.3 Microsoft Corporation Products Portfolio
- 9.8.4 Microsoft Corporation Financial Overview
- 9.8.5 Microsoft Corporation News/Recent Developments
- 9.9 Nuance Communications, Inc.
- 9.9.1 Nuance Communications, Inc. Overview
- 9.9.2 Key Stakeholders/Person in Nuance Communications, Inc.
- 9.9.3 Nuance Communications, Inc. Products Portfolio
- 9.9.4 Nuance Communications, Inc. Financial Overview
- 9.9.5 Nuance Communications, Inc. News/Recent Developments
- 9.10 Verint Systems Inc.
- 9.10.1 Verint Systems Inc. Overview
- 9.10.2 Key Stakeholders/Person in Verint Systems Inc.
- 9.10.3 Verint Systems Inc. Products Portfolio
- 9.10.4 Verint Systems Inc. Financial Overview
Summary:
Get latest Market Research Reports on Healthcare Virtual Assistant. Industry analysis & Market Report on Healthcare Virtual Assistant is a syndicated market report, published as Global Healthcare Virtual Assistant Market - Segment Analysis, Opportunity Assessment, Competitive Intelligence, Industry Outlook 2016-2023. It is complete Research Study and Industry Analysis of Healthcare Virtual Assistant market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.
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