Pune, May 11, 2023 (GLOBE NEWSWIRE) -- “The Healthcare Virtual Assistants Market had an estimated value of USD 957.61 million in 2022 and is expected to expand at a Compound Annual Growth Rate (CAGR) of 34.8% from 2023 to 2030, reaching a total worth of USD 10.44 billion, according to SNS Insider.”
Market Overview
Healthcare virtual assistants are computer programs that use artificial intelligence (AI) and natural language processing (NLP) to interact with patients, healthcare providers, and other stakeholders in the healthcare industry. These virtual assistants can be accessed through a variety of devices, including smartphones, tablets, and smart speakers, and they can perform a range of tasks to improve the efficiency and effectiveness of healthcare services. One of the main uses of healthcare virtual assistants is to provide patients with information and support related to their health conditions. Patients can use virtual assistants to ask questions about their symptoms, get advice on treatments, and schedule appointments with healthcare providers.
Market Analysis
With the increasing adoption of IoT, growing internet connectivity and smartphone devices, and an increasing focus on patient engagement, virtual assistants have become an essential tool in providing personalized healthcare services to patients. One of the major factors driving the growth of the healthcare virtual assistants market is the shortage of healthcare professionals. There is a high demand for healthcare services, but a shortage of professionals to provide them. Virtual assistants have been able to bridge this gap by providing patients with quick and reliable access to healthcare information and services, without the need for the physical presence of healthcare professionals. Another driving factor is the increasing burden of lifestyle diseases and the need to reduce healthcare costs.
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Key Company Profiles Listed in this Report Are:
The key players are 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. & More
Impact of Recession on Healthcare Virtual Assistants Market Growth
While a recession may initially impact the healthcare virtual assistants market, the long-term effects are uncertain. The potential cost-saving benefits of virtual assistants may make them an attractive option for patients and healthcare providers alike, even during times of economic uncertainty.
Healthcare Virtual Assistants Market Report Scope:
| 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 |
| Key Market Segmentation | • 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) |
| Key Regional 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) |
Key Regional Developments
The healthcare virtual assistants market has been witnessing significant growth over the past few years, with North America leading the way. The region has commanded the highest share in the global healthcare virtual assistant market, followed by Europe and Asia Pacific. The growing healthcare sector, increasing need to reduce healthcare costs, rising demand for technological advancements by healthcare facilities, and growing demand of the healthcare industry to maintain a balance between patient engagement and clinical workflow are the primary drivers of this growth.
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Key Takeaway from Healthcare Virtual Assistants Market Study
- The smart speaker segment is set to dominate the market, thanks to its ease of use, affordability, and ability to integrate with other healthcare technologies. As more healthcare organizations and patients adopt these devices, we can expect to see significant improvements in patient care and healthcare delivery in the coming years.
- The automatic speech recognition segment is poised to dominate the market due to its numerous benefits and applications. Its ability to automate clinical documentation, improve accuracy and completeness, and enhance patient engagement and satisfaction makes it an essential tool for healthcare professionals.
Recent Developments Related to Healthcare Virtual Assistants Market
- Orbita and Isabel Healthcare have teamed up to provide patients with streamlined access to healthcare services through their advanced 'Find Care' search and symptom triage tool. This partnership aims to enhance the overall patient experience by making it easier for them to find the care they need while ensuring that their healthcare providers receive accurate and timely information about their symptoms.
- TeleVox, a leading provider of patient engagement and communication solutions, has recently launched an AI-enabled omnichannel conversational virtual assistant for healthcare providers. This new technology is designed to improve patient experiences and reduce the burden on healthcare staff by providing patients with 24/7 access to accurate, personalized, and relevant healthcare information.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Healthcare Virtual Assistants Market Segmentation, By Product type
9. Healthcare Virtual Assistants Market Segmentation, By User Interface
10. Healthcare Virtual Assistants Market Segmentation, By End User
11. Regional Analysis
12. Company Profiles
13. Competitive Landscape
14. Conclusion
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About Us:
SNS Insider is one of the leading market research and consulting agencies that dominate the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
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