Dublin, March 16, 2022 (GLOBE NEWSWIRE) -- The "Healthcare Virtual Assistants Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component and End User" report has been added to ResearchAndMarkets.com's offering.
The healthcare virtual assistants market is projected to reach US$ 5,310.31 million by 2028 from US$ 684.07 million in 2021; it is expected to grow at a CAGR of 34.01% from 2021 to 2028.
Increasing adoption of healthcare virtual assistants amid the COVID-19 pandemic and growing users of smartphone globally with rising healthcare-associated applications stimulate the overall market growth. According to The American Health Information Management Association (AHIMA) report, medical professionals have emerged as a marketplace targeted by smartphone technologies. For healthcare organizations, such as hospitals, advanced smartphones provide more convenience and efficiency than traditional computers. The factors mentioned above fuel the growth of the healthcare virtual assistants market.
The healthcare virtual assistants market is bifurcated on the basis of component and end-user. Based on component, the market is segmented into speech recognition, text-to-speech, and voice recognition. The speech recognition segment is estimated to account for the largest market share during 2021-2028. The healthcare sector is widely adopting speech recognition technology for saving time and improving productivity. For example, speech recognition technology eliminates the need to manually transcribe clinician's notes. Clinicians dictate notes, and AI-powered software accurately converts the voice data into valuable electronic health records (EHRs) data, which significantly improves clinical documentation and its accuracy. Additionally, at the same time, physicians can dedicate themselves toward the care delivery of patients without bothering about EHR data entry. Such supportive factors drive the market growth for the speech recognition segment.
By end user, the healthcare virtual assistants market is segmented into providers, payers, and others. The providers segment is expected to dominate the market during the forecast period. Artificial intelligence (AI) is being utilized by several healthcare providers for the accurate detection of chronic diseases, such as cancer, in early stages. With wide adoption of AI combined with proliferation of consumer wearables and other medical devices involved in assisting people in living healthier lifestyles. Virtual care is the best example in modern healthcare that facilitates healthcare providers, increases patient access to care, and decreases overall healthcare units.
Therefore, expanding healthcare virtual assistants market can assist providers in monitoring and managing patient care throughout the recovery. This can be achieved through following a long-term hospital visit or surgical procedure or even act as a substitute for in-person care delivery based on patient population needs health organization capabilities and resource availability. This would ultimately help providers to increase efficiency by seeing many patients with a greater degree of personal engagement in less time. The factors mentioned above support the market growth for the providers segment.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the healthcare virtual assistants market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the healthcare virtual assistants market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhancing the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
Key Topics Covered:
1. Introduction
2. Healthcare Virtual Assistants Market - Key Takeaways
3. Research Methodology
4. Global Healthcare Virtual Assistants Market - Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America - PEST Analysis
4.2.2 Europe - PEST Analysis
4.2.3 Asia Pacific - PEST Analysis
4.2.4 Middle East and Africa (MEA) - PEST Analysis
4.2.5 South and Central America (SCAM) - PEST Analysis
4.3 Expert Opinions
4.4 Government Healthcare Initiatives - India, Australia, Middle East & Africa
5. Healthcare Virtual Assistants Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Prevalence of Chronic Diseases
5.1.2 Rising Awareness Regarding Healthcare
5.1.3 Increase in Social Networking and Smart Phone Users
5.2 Market Restraints
5.2.1 Security and Privacy Issues
5.2.2 Unaddressed Regulatory Concerns
5.3 Market Opportunity
5.3.1 Expansion of Healthcare Facilities in Remote Locations
5.4 Future Trend
5.4.1 Healthcare Virtual Assistants to Replace Patients' Routine Visits
5.5 Impact Analysis
6. Healthcare Virtual Assistants Market - Global Analysis
6.1 Global Healthcare Virtual Assistants Market Revenue Forecast and Analysis
6.2 Global Healthcare Virtual Assistants Market, By Geography - Forecast and Analysis
6.3 Market Positioning of Key Players
7. Healthcare Virtual Assistants Market Analysis - By Component
7.1 Overview
7.2 Healthcare Virtual Assistants Market Revenue Share, by Component (2021 and 2028)
7.3 Speech Recognition
7.3.1 Overview
7.3.2 Speech Recognition: Healthcare Virtual Assistants Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Text-to-Speech
7.4.1 Overview
7.4.2 Text-to-Speech: Healthcare Virtual Assistants Market - Revenue and Forecast to 2028 (US$ Million)
7.5 Voice Recognition
7.5.1 Overview
7.5.2 Voice Recognition: Healthcare Virtual Assistants Market - Revenue and Forecast to 2028 (US$ Million)
8. Healthcare Virtual Assistants Market - By End User
8.1 Overview
8.2 Healthcare Virtual Assistants Market, by End User, 2021 and 2028 (%)
8.3 Providers
8.3.1 Overview
8.3.2 Providers: Healthcare Virtual Assistants Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Payers
8.4.1 Overview
8.4.2 Payers: Healthcare Virtual Assistants Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Healthcare Virtual Assistants Market - Revenue and Forecast to 2028 (US$ Million)
9. Healthcare Virtual Assistants Market - Geographical Analysis
10. Impact of COVID-19 Pandemic on Global Healthcare Virtual Assistants Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
10.2 Europe: Impact Assessment Of COVID-19 Pandemic
10.3 Asia Pacific: Impact Assessment of COVID-19 Pandemic
10.4 Rest of the World: Impact Assessment of COVID-19 Pandemic
11. Healthcare Virtual Assistants Market-Industry Landscape
11.1 Overview
11.2 Growth Strategies Done by the Companies in the Market, (%)
11.3 Organic Developments
11.3.1 Overview
11.4 Inorganic Developments
11.4.1 Overview
12. Company Profiles
12.1 Nuance Communications, Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Amazon.com, Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Verint Systems, Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Microsoft Corporation
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 EGAIN CORPORATION
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Infermedica
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 CSS Corp
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Kognito
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Babylon
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 True Image Interactive Inc.
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/pjje17
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