Healthcare Virtual Assistants Market Size, Share, Analysis, and Forecast 2022-2028
Healthcare Virtual Assistants Market Size, Share & Segment 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), by Regions and Global Forecast 2022-2028
Pune, Maharashtra -- (SBWire) -- 10/11/2022 --Healthcare Virtual Assistants Market was estimated to be worth USD 710.4 million in 2021 and is anticipated to grow at a CAGR of 34.8% from 2022 to 2028 to reach USD 5746 million. A virtual assistant, sometimes referred to as an AI assistant or a digital assistant, is an application platform that can carry out the user's requests using voice commands in everyday language. A different class of consumer-facing AI programming known as smart advisers is contrasted with virtual assistants. Virtual assistants are more task-oriented thanks to smart adviser programmers' subject-focus. Virtual assistants are typically cloud-based software applications that require internet-connected hardware and software to function. Virtual assistants are developing quickly to give users more skills and value. The advancement of speech recognition and natural language processing will improve the virtual assistant's capacity to comprehend and carry out requests. With advancements in voice recognition technology, the adoption of virtual assistants will deepen commercial procedures even more.
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Drivers, Restraints, Opportunities, and Challenges
Future industry growth is anticipated due to the rising prevalence of chronic conditions like diabetes, cardiac diseases, and others around the globe. Global smartphone adoption is anticipated to grow, which will be a major driver for a healthcare virtual assistants market. Additionally, the rising demand for reducing healthcare costs and the acceleration of technology development around the globe may greatly expand the market during the projection period. Additionally, the industry may see significant growth as a result of the increasing use of mobile applications. For new market entrants, various technological tools, such as voice technology and multilingual support, may create growth potential. The market's expansion may be significantly hampered by the high cost of virtual assistants.
Impact of the COVID-19 Pandemic
The introduction of the new interactive Chabot and voice assistant has increased in response to the COVID-19 epidemic and to support healthcare companies. The COVID-19 Virtual Assistant aims to assist in spreading awareness of the virus among the general public and to help medical professionals identify and prioritize people who may be infected. Over the past one to three years, demand for healthcare IT solutions has increased almost everywhere. However, it is projected that adoption of healthcare IT solutions will increase significantly in the following years due to the COVID-19 outbreak and the growth in healthcare concerns and medical aid that followed.
By Product type
By User Interface
1.Automatic Speech Recognition
By End User
Smart speakers were the most popular product category in the global healthcare virtual assistants market, and it is predicted that they would continue to do so during the forecast period. The growing patient preference for high-tech products is credited with advancing this technologically advanced device. It can save the user time and greatly raise the patient's degree of comfort and convenience.
The healthcare providers segment would control the market in the upcoming years based on end users. Preventive treatments can be provided, allowing patients to get wellness coaching or education about non-emergency health and well being issues.
The North American area dominates the healthcare virtual assistants market owing to technology-driven countries like the US are early adopters of technologically improved items in the healthcare business. The market in North America is anticipated to be driven by the shortage of healthcare professionals and the demand for a functional healthcare facility as a result of the ageing population in nations like the U.S. Because more people are using smartphones, the market for virtual assistants in Europe and the rest of the world may one day experience growth.
Competitive Landscape Outlook
Health tap, Inc., Nuance Communications, Inc., Amazon, Microsoft Corporation, CSS Corporation, Verint Systems Inc., Egain Corporation, and Sensely, Inc. are some of the prominent market players involved in the healthcare virtual assistants market.
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Table Of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact Of Ukraine-Russia War
5. Value Chain Analysis
6. Porter's 5 Forces Model
7. PEST Analysis
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