According to a new report published by Allied Market Research, titled, “Virtual Assistance in Healthcare Market,” The virtual assistance in healthcare market size was valued at $495.36 million in 2021, and is estimated to reach $2.1 billion by 2031, growing at a CAGR of 15.6% from 2022 to 2031.
Virtual assistant can be defined as a remote employee advanced in performing multiple task. The use of virtual assistant technology in the healthcare sector can help to improve many health processes and enhance global healthcare delivery. Artificial intelligence and rule-based systems of virtual assistant help to accomplish a variety of events in patient care. To enable interactive communications with the end users, these assistants make use of cognitive technologies, including machine learning and neural networks. The global virtual assistance in healthcare market is expected to grow during the forecast period as the popularity and use of virtual assistant services is rapidly increasing.
Factors that driving the growth of global virtual assistance in healthcare market trends are capability of taking patient engagement to the advanced level, increase in development of new artificial intelligence powered chatbots to interact with patient, rising use of remote monitoring devices, and increasing consumer preference for technologically advanced products. However, data breach of patient’s confidential information is the major restraining factor of virtual assistance in healthcare market analysis. In addition, online treatment regulations can be confusion and poor digital literacy are the factors which negatively affects the growth of the virtual assistance in healthcare market size.
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Impact of Covid-19 on Virtual Assistance in Healthcare Market-
- The outbreak of the COVID-19 pandemic led to the imposition of social distancing rules, which resulted in a significant demand for the virtual assistance in healthcare across several sectors, especially in the healthcare and medical sector.
- The main cause of the accelerated market growth is virtual treatment offered by doctors through video conferencing, various mobile based chatbots launched in 2020 to provide disease related information, and vaccine dose scheduling through COWIN app in India.
- As a result, the COVID-19 outbreak is expected to propel the global market growth of virtual assistance in healthcare, which will have a positive effect on the market’s value in 2022 and beyond.
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The research provides detailed segmentation of the global virtual assistance in healthcare market based on product, user interface, end user, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on product, the smart speakers segment held the highest share in 2021, accounting for around two-thirds of the global virtual assistance in healthcare market, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is expected to register the highest CAGR of 16.2% from 2022 to 2031.
Based on user interface, the Automatic Speech Recognition segment accounted for the highest share in 2021, contributing to nearly three-fifths of the global virtual assistance in healthcare market, and is expected to maintain its lead in terms of revenue during the forecast period. Moreover, the same segment is expected to manifest the highest CAGR of 16.3% from 2022 to 2031.
Based on end user, the healthcare providers segment accounted for the highest share in 2021, holding more than half of the global virtual assistance in healthcare market, and is expected to continue its leadership status during the forecast period. However, the patients segment is estimated to grow at the highest CAGR of 17.0% during the forecast period.
Based on region, North America held the largest share in 2021, contributing to nearly half of the total virtual assistance in healthcare market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 18.2% during the forecast period. The research also analyzes regions including Europe and LAMEA.
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Leading market players of the global virtual assistance in healthcare market analyzed in the research include ADA Digital Health, Amazon, Babylon Holdings, CSS Corporation, Egain Corporation, Healthtap, Intelligent Digital Avatars, Inc., Infermedica, Kognito Solutions, LLC, MedRespond LLC, Microsoft Corporation, Neolytics LLC, Nuance Communications, Inc., Orbita, Sensely, Verint Systems, Inc., and Virgin Plus.
The report provides a detailed analysis of these key players of the global virtual assistance in healthcare market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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