The factors which are responsible for driving the growth of global healthcare virtual assistants market include the increasing penetration of internet and smartphone devices, rise in the incidences of chronic disorders and growing use in healthcare applications along with the necessity to decrease the number of medical errors and costs of healthcare. Rising demand for healthcare services, shortage of the healthcare professionals and increasing technological advancements coupled with the focus towards manufacturing of multi-language support in the tools of virtual assistants are bolstering the growth of virtual assistants market during the forecast period. The factors hindering the growth of the global virtual assistant’s market include the lack of awareness among the professionals in healthcare and concerns for the privacy of data.
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Virtual assistants also referred as digital assistant or AI assistant is an application program which understand the natural language voice commands by the user and completes the task or it is a type of software agent which has the ability to perform tasks based on questions or commands for an individual. Those virtual assistants which are used in the healthcare industry are referred to as healthcare virtual assistants who help to rise the engagement of the patients to a high standard. These assistants help in enhancing the healthcare processes and also assist the organizations in gathering a history of patient’s health, demographic information, details regarding the insurance, and the other analysis of records.
Read Full Report Description: Global Healthcare Virtual Assistants Market by Product (Smart Speakers and Chatbots), By User Interface (Text-To-Speech, Automatic Speech Recognition, Text-Based and Others), By End-User (Healthcare Payers, Patients, Healthcare Providers, and Others) and By Region – Opportunities & Forecast, 2019-2026
On the basis of product, smart speakers segment is anticipated to grow at the highest compound annual growth rate during the forecast period owing to the increased demand from the end-users. The advantages associated with healthcare virtual assistants such as easy to use, time effectiveness and presence of advanced features has further propelled the growth of the market. The smart speakers provide an enhanced level of comfort, are reliable, fast, and can offer companionship and reduce the real human cost driving the growth of smart speakers in the market.
Based on user interface, automatic speech recognition segment is expected to capture a significant market share during the forecast period due to its ability to enhance the workflow in healthcare industry and rising integration in the smart speakers. The speech recognition helps in reducing costs, increasing productivity, and improving security. This technology also reduces the paperwork and hence provides more time to focus on patients along with an increase in accuracy, leading to a rise in the adoption of speech recognition driving the market growth.
On the basis of end-user, the healthcare providers segment is expected to increase at a significant rate during the forecast period due to increase in the adoption of virtual assistants among the healthcare providers owing to the rise in the need to increase the work efficiency and high adoption of advanced technological solutions by the providers. The virtual assistants provide assistance to the providers in various functions, which includes billing, answering calls, coding along with the management of schedules of the physicians, among others.
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Various notable players operating in the global healthcare virtual assistants market include Verint Systems Inc., Microsoft Corporation, Nuance Communications, Inc., Sensely, Inc., Amazon, Egain Corporation, Infermedica, Healthtap, Inc., CSS Corporation, Kognito Solutions, LLC, ADA Digital Health and Babylon Healthcare Service Limited among others.
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Based on region, Asia-Pacific is anticipated to increase at the highest compound annual growth rate in the upcoming years due to increase in the geriatric population, expanding healthcare sector, rising adoption of technological advancements along with increasing penetration of smartphones. In addition, rising healthcare spending and costs and growing awareness regarding the virtual assistant solution among the consumers are also driving the market growth in this region.
The global healthcare virtual assistants market has been segmented on the basis of product, user interface, end-user, and key regions. The product segment is categorized into Smart Speakers and Chatbots. Based on the user interface, the market is segmented into Text-To-Speech, Automatic Speech Recognition, Text-Based, and Others. The end-user segment in categorized into Healthcare Payers, Patients, Healthcare Providers, and Others.
Global Healthcare Virtual Assistants Market by Product
Global Healthcare Virtual Assistants Market by User Interface
Global Healthcare Virtual Assistants Market by End-User
Global Healthcare Virtual Assistants Market by Region
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