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Global Healthcare Virtual Assistant Market - 2024-2031

Publisher DataM Intelligence 4Market Research LLP
Published Mar 08, 2024
Length 186 Pages
SKU # DTAM18609033

Description

Global Healthcare Virtual Assistant Market - 2024-2031


Global Healthcare Virtual Assistant market reached US$ YY million in 2023 and is expected to reach US$ YY million by 2031, growing at a CAGR of YY% during the forecast period 2024-2031.

Healthcare virtual assistants provide users with seamless connectivity to internal and external medical professionals on a real-time basis with 24/7 connectivity. This technology brings together physicians, nurses, clinical laboratory staff, and patients for better treatment outcomes. The use of virtual assistants helps to lessen the difficulties by offering quick access to healthcare information, remote monitoring, and personalized care. It is expected to decrease healthcare expenses by removing the need for in-person visits to healthcare facilities.

Market Dynamics: Drivers & Restraints

Increasing Market Developments

Market developments by key companies are expected to drive the market in the forthcoming period. For instance, in January 2023, Orbita, a top provider of intelligent virtual assistants and workflow automation for healthcare, launched Orbita Blaze to revolutionize provider homepage by integrating an instinctive and user-friendly ""find care"" experience with the comfort of a healthcare-specific chatbot.

In January 2023, DRUID AI launched a sophisticated AI virtual assistant ""WHF WIKICARDIO Virtual Assistant"" built on the DRUID Conversational AI platform in collaboration with the World Heart Federation.

Furthermore, in April 2023, TeleVox launched an AI-enabled omnichannel Conversational Virtual Assistant ""Iris"" for Healthcare Providers.

Data Breaches and Security Concerns

Data breaches and security concerns impact the usage of virtual assistants among the population. The information given includes data related to diseases, diagnoses, exams, treatments, and information about the patient's medical history. It involves passing private medical or financial data to the chatbot, which reserves it in digital data. Such data is breached by cyber criminals, which can give access to patients' medical records. For instance, Healthcare statistics by HIPAA revealed that cybersecurity incidents in February 2022 affected 2.5 million people.

Segment Analysisn

The global healthcare virtual assistant market is segmented based on product, technology, application, end-user and region.

Speech recognition is Expected to Dominate the Market

Speech recognition is integrated into AI to support clinical decision systems which became an essential tool for supporting clinicians by streamlining the documentation. Currently, virtual assistants are developed with speech recognition technology which is expected to hold the largest share in the market. For instance, in November 2023, Artera, a digital health leader in patient communications, partnered with Hyro, AI-powered adaptive communications to launch AI-Powered Virtual Assistant with advanced technology.

In August 2023, Innovaccer launched Sara, an AI assistant across four AI platforms which is aimed to take high-quality, low-cost, patient-centered care to the next level.

Furthermore, in February 2023, AXA Global Healthcare launched a new digital text- and voice-based assistant, called Remi which gives personalized health advice and checks symptoms, powered by Mayo Clinic’s rigorous clinical assessment platform.

Geographical Analysis

North America is Expected to Dominate the Global Market

North America has a robust healthcare infrastructure. These factors contribute to increased accessibility for patients to access advanced therapies, facilitating the adoption of cutting-edge treatments. The renowned research institutions and academic centers foster collaboration between scientists, clinicians, and industry experts, facilitating knowledge exchange and accelerating the pace of innovation in AI-assisted chatbots., for instance, ChatGPT from openAI was founded in the US and currently has more than 10 million subscribers as of February 2023.

Market Segmentation

By Product
• Chatbots
• Smart Wearables
• Smart Speakers
• Others

By Technology
• Speech recognition
• Text-based
• Text-to-speech
• Others

By Application
• Medical Documentation
• Medical Research
• Patience Assistance
• Others

By End User
• Healthcare Providers
• Patients
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In March 2023, GYANT launched a front-door virtual assistant with Marshfield Clinic Health System.
• In 2023, Bupa announced its partnership with HealthTap to develop new healthcare solutions for its customers that allow their customers to access HealthTap’s health operating system called HOPES.

Competitive Landscape

The major global players in the healthcare virtual assistant market include Microsoft Corporation, Nuance Communications, Verint Systems Inc., Infermedica, Neolytix, eGain Corporation, Medva, Amazon.com, Inc., Babylon Holdings Limited., and Sensely, Inc. among others.

Why Purchase the Report?
• To visualize the global healthcare virtual assistant market segmentation based on product, technology, application, end user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of healthcare virtual assistant market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global healthcare virtual assistant market report would provide approximately 64 tables, 70 figures and 186 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies

Table of Contents

186 Pages
1. Methodology and Scope
1.1. Research Methodology
1.2. Research Objective and Scope of the Report
2. Definition and Overview
3. Executive Summary
3.1. Snippet by Product
3.2. Snippet by Technology
3.3. Snippet by Application
3.4. Snippet by End User
3.5. Snippet by Region
4. Dynamics
4.1. Impacting Factors
4.1.1. Drivers
4.1.1.1. Increasing Market Developments
4.1.1.2. YY
4.1.2. Restraints
4.1.2.1. Data Breaches and Security Concerns
4.1.2.2. YY
4.1.3. Opportunity
4.1.4. Impact Analysis
5. Industry Analysis
5.1. Porter's Five Force Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis
5.5. Patent Analysis
5.6. SWOT Analysis
5.7. DMI Opinion
6. COVID-19 Analysis
6.1. Analysis of COVID-19
6.1.1. Scenario Before COVID
6.1.2. Scenario During COVID
6.1.3. Scenario Post COVID
6.2. Pricing Dynamics Amid COVID-19
6.3. Demand-Supply Spectrum
6.4. Government Initiatives Related to the Market During Pandemic
6.5. Manufacturers Strategic Initiatives
6.6. Conclusion
7. By Product
7.1. Introduction
7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
7.1.2. Market Attractiveness Index, By Product
7.2. Chatbots*
7.2.1. Introduction
7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. Smart Wearables
7.4. Smart Speakers
7.5. Others
8. By Technology
8.1. Introduction
8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
8.1.2. Market Attractiveness Index, By Technology
8.2. Speech recognition*
8.2.1. Introduction
8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3. Text-based
8.4. Text-to-speech
8.5. Others
9. By Application
9.1. Introduction
9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
9.1.2. Market Attractiveness Index, By Application
9.2. Medical Documentation*
9.2.1. Introduction
9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
9.3. Medical Research
9.4. Patience Assistance
9.5. Others
10. By End User
10.1. Introduction
10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
10.1.2. Market Attractiveness Index, By End User
10.2. Healthcare Providers*
10.2.1. Introduction
10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
10.3. Patients
10.4. Others
11. By Region
11.1. Introduction
11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
11.1.2. Market Attractiveness Index, By Region
11.2. North America
11.2.1. Introduction
11.2.2. Key Region-Specific Dynamics
11.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
11.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
11.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
11.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
11.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.2.7.1. U.S.
11.2.7.2. Canada
11.2.7.3. Mexico
11.3. Europe
11.3.1. Introduction
11.3.2. Key Region-Specific Dynamics
11.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
11.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
11.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
11.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
11.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.3.7.1. Germany
11.3.7.2. UK
11.3.7.3. France
11.3.7.4. Italy
11.3.7.5. Spain
11.3.7.6. Rest of Europe
11.4. South America
11.4.1. Introduction
11.4.2. Key Region-Specific Dynamics
11.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
11.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
11.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
11.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
11.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.4.7.1. Brazil
11.4.7.2. Argentina
11.4.7.3. Rest of South America
11.5. Asia-Pacific
11.5.1. Introduction
11.5.2. Key Region-Specific Dynamics
11.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
11.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
11.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
11.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
11.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.5.7.1. China
11.5.7.2. India
11.5.7.3. Japan
11.5.7.4. Australia
11.5.7.5. Rest of Asia-Pacific
11.6. Middle East and Africa
11.6.1. Introduction
11.6.2. Key Region-Specific Dynamics
11.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
11.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
11.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
11.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
12. Competitive Landscape
12.1. Competitive Scenario
12.2. Market Positioning/Share Analysis
12.3. Mergers and Acquisitions Analysis
13. Company Profiles
13.1. Microsoft Corporation*
13.1.1. Company Overview
13.1.2. Product Portfolio and Description
13.1.3. Financial Overview
13.1.4. Key Developments
13.2. Nuance Communications
13.3. Verint Systems Inc.
13.4. Infermedica
13.5. Neolytix
13.6. eGain Corporation
13.7. Medva
13.8. Amazon.com, Inc.
13.9. Babylon Holdings Limited.
13.10. Sensely, Inc.
LIST NOT EXHAUSTIVE
14. Appendix
14.1. About Us and Services
14.2. Contact Us

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