Healthcare Virtual Assistant Market By Product (Chatbot And Smart Speaker), Technology (Speech Recognition, Text-To-Speech, And Text Based), End User (Providers, Payers, And Other End User), And Geography–Global Forecast To 2025

Date: February 20, 2019
Pages: 103
Price:
US$ 4,175.00
Publisher: Meticulous Market Research Pvt. Ltd.
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: HB3B6066936EN
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Healthcare Virtual Assistant Market By Product (Chatbot And Smart Speaker), Technology (Speech Recognition, Text-To-Speech, And Text Based), End User (Providers, Payers, And Other End User), And Geography–Global Forecast To 2025
Healthcare Virtual Assistants Market by Product (Chatbot and Smart Speaker), Technology (Speech Recognition, Text-to-Speech, and Text Based), End User (Providers, Payers, and Other End User), and Geography–Global Forecast to 2025

The global healthcare virtual assistant market is expected to grow at a CAGR of 24.7% from 2018 to reach USD 1.7 billion by 2025.

Succeeding an extensive secondary and primary research and in-depth analysis of the market scenario, the report carries out an impact analysis of the key industry drivers, restraints, opportunities, and challenges. The factors such as increasing adoption of IoT, growing internet connectivity and smart phone devices, increasing focus on patient engagement, shortage of healthcare professionals, and increasing burden of lifestyle diseases, and need of reducing healthcare costs are the major factors driving the growth of the healthcare virtual assistants market. However, lack of awareness among healthcare professionals and data privacy and security awareness may hamper the growth of the market to a certain extent.

Chatbot segment dominated the global healthcare virtual assistants market in 2018, owing to increasing advancement in natural language processing & machine learning models, rising demand for self-service, increasing availability, low-cost, and high demand in healthcare industry by physicians, nurses, and patients at various levels.

The speech recognition technology market for virtual assistants commanded the largest share of the global market in 2018. The highest share of this segment is primarily attributed to certain factors such as less paperwork, reduced time consumption, and improved workflow.

Based on end user, the providers segment held the major share in 2018. This is primarily attributed to the increasing adoption of artificial intelligence by the healthcare professionals to improve the clinical workflow and work efficiency in less time.

An in-depth analysis of the geographical scenario of the industry provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) along with the coverage of major countries in each region. North America commanded the largest share of the global healthcare virtual assistants market in 2018, followed by Europe and Asia Pacific. The large share of this region is mainly attributed to the factors such as growing healthcare sector, increasing need to reduce healthcare cost, increasing number of hospitals, and rising demand of the technological advancements by the hospitals. Furthermore, growing competition in the healthcare industry and rising pressure to develop cost-effective procedure is providing growth opportunities for the healthcare virtual assistants market.

The major players operating in the global healthcare virtual assistants market are Microsoft Corporation (US), Nuance Communications, Inc. (Ireland), Next IT Corp. (US), Medrespond (US), Welltok, Inc. (US), CSS Corp (US), Egain (US), Kognito (US), idAvatars (US), and True Image Interactive, Inc. (US) among many others.

SCOPE OF THE REPORT:

Healthcare Virtual Assistants Market, by Product
  • Chatbots
  • Smart Speakers
Healthcare Virtual Assistants Market, by Technology
  • ASR/Speech Recognition
  • Text Based
  • Text-to-Speech
Healthcare Virtual Assistants Market, by End User
  • Providers
  • Payers
  • Others
Healthcare Virtual Assistants Market, by Region
  • North America
    • US
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • Rest of Asia-Pacific
  • Middle East & Africa
  • Latin America
1. INTRODUCTION

1.1. Market Definition
1.2. Currency and Limitations
  1.2.1. Currency
  1.2.2. Limitations
1.3. Key Stakeholders

2. RESEARCH METHODOLOGY

2.1. Research Process
  2.1.1. Secondary Research
  2.1.2. Primary Research
  2.1.3. Market Size Estimation

3. EXECUTIVE SUMMARY

3.1. Introduction
3.2. Market Dynamics
3.3. Product Segment Analysis
3.4. Technology Segment Analysis
3.5. End User Segment Analysis
3.6. Regional Analysis
3.7. Competitive Analysis

4. MARKET INSIGHTS

4.1. Market Overview
4.2. Market Dynamics
4.3. Drivers
  4.3.1. Increasing Focus on Patient-Centric Care Delivery
  4.3.2. Growing Adoption of IOT
  4.3.3. Growing Internet Connectivity and Smartphone Devices
  4.3.4. Increasing Focus on Patient Engagement
  4.3.5. Shortage of Healthcare Professionals
  4.3.6. Increasing Burden of Lifestyle Diseases and Need of Reducing Healthcare Costs
4.4. Challenges
  4.4.1. Lack of Awareness Among Healthcare Professionals
  4.4.2. Data Privacy and Security Concerns
4.5. Opportunities
  4.5.1. Significant Growth Opportunities in Emerging Countries
4.6. Trend
  4.6.1. Rising Integration of Artificial Intelligence in Healthcare

5. GLOBAL HEALTHCARE VIRTUAL ASSISTANTS MARKET SIZE, BY PRODUCT

5.1. Overview
5.2. Chatbots
5.3. Smart Speakers

6. GLOBAL HEALTHCARE VIRTUAL ASSISTANTS MARKET SIZE, BY TECHNOLOGY

6.1. Overview
6.2. Speech Recognition
6.3. Text Based
6.4. Text To Speech

7. GLOBAL HEALTHCARE VIRTUAL ASSISTANTS MARKET SIZE, BY END USER

7.1. Overview
7.2. Providers
7.3. Payers
7.4. Other End Users

8. GEOGRAPHIC ANALYSIS

8.1. Overview
8.2. North America
  8.2.1. U.S.
  8.2.2. Canada
8.3. Europe
  8.3.1. Germany
  8.3.2. U.K.
  8.3.3. France
  8.3.4. Rest of Europe (RoE)
8.4. Asia Pacific
  8.4.1. China
  8.4.2. Japan
  8.4.3. Rest of Asia Pacific (RoAPAC)
8.5. Latin America
8.6. Middle East and Africa

9. COMPETITIVE LANDSCAPE

9.1. Overview
9.2. Inorganic Growth Strategies
  9.2.1. Agreements, Collaborations, Partnerships, and Joint Ventures
  9.2.2. Acquisitions
9.3. Organic Growth Strategies
  9.3.1. Product and Service Launches
  9.3.2. Expansions
9.4. Market Positioning/Ranking
9.5. Performance of the Key Players
  9.5.1. Nuance Communications
  9.5.2. Microsoft Corporation
  9.5.3. Egain
  9.5.4. Welltok, Inc.

10. COMPANY PROFILES

10.1. Microsoft Corporation
10.2. Nuance Communications, Inc.
10.3. Next IT Corp.
10.4. MedRespond
10.5. Welltok, Inc.
10.6. CSS Corp
10.7. eGain
10.8. Kognito
10.9. idAvatars
10.10. True Image Interactive, Inc.

11. APPENDIX

11.1. Questionnaire
11.2. Available Customization

LIST OF TABLES

Table 1 Obese People Worldwide, 2017
Table 1 Global Healthcare Virtual Assistant Market Size, by Product, 2016–2025 ($Million)
Table 2 Chatbots Market Size, by Region, 2016–2025 ($Million)
Table 3 Smart Speakers Market Size, by Region, 2016–2025 ($Million)
Table 4 Global Healthcare Virtual Assistant Market Size, by Technology, 2016–2025 ($Million)
Table 5 Speech Recognition-Based Virtual Assistant Market Size, by Region, 2016–2025 ($Million)
Table 6 Text Based Virtual Assistant Market Size, by Region, 2016–2025 ($Million)
Table 7 Text-To-Speech-Based Virtual Assistant Market Size, by Region, 2016–2025 ($Million)
Table 8 Global Healthcare Virtual Assistant Market Size, by End User, 2018–2025 ($Million)
Table 9 Healthcare Virtual Assistant Market Size for Providers, by Region, 2016–2025 ($Million)
Table 10 Healthcare Virtual Assistant Market Size for Payers, by Region, 2016–2025 ($Million)
Table 11 Healthcare Virtual Assistant Market Size for other End Users, by Region, 2016–2025 ($Million)
Table 12 North America: Healthcare Virtual Assistant Market Size, by Country, 2016–2025 ($Million)
Table 13 North America: Market Size, by Product, 2016–2025 ($Million)
Table 14 North America: Market Size, by Technology, 2016–2025 ($Million)
Table 15 North America: Market Size, by End User, 2016–2025 ($Million)
Table 16 U.S.: Healthcare Virtual Assistant Market Size, by Product, 2016–2025 ($Million)
Table 17 U.S.: Market Size, by Technology, 2016–2025 ($Million)
Table 18 U.S.: Market Size, by End User, 2016–2025 ($Million)
Table 19 Canada: Healthcare Virtual Assistant Market Size, by Product, 2016–2025 ($Million)
Table 20 Canada: Market Size, by Technology, 2016–2025 ($Million)
Table 21 Canada: Market Size, by End User, 2016–2025 ($Million)
Table 22 Europe: Market Size, by Country, 2016–2025 ($Million)
Table 23 Europe: Market Size, by Product, 2016–2025 ($Million)
Table 24 Europe: Market Size, by Technology, 2016–2025 ($Million)
Table 25 Europe: Market Size, by End User, 2016–2025 ($Million)
Table 26 Germany: Healthcare Virtual Assistant Market Size, by Product, 2016–2025 ($Million)
Table 27 Germany: Market Size, by Technology, 2016–2025 ($Million)
Table 28 Germany: Market Size, by End User, 2016–2025 ($Million)
Table 29 U.K.: Healthcare Virtual Assistant Market Size, by Product, 2016–2025 ($Million)
Table 30 U.K.: Market Size, by Technology, 2016–2025 ($Million)
Table 31 U.K.: Market Size, by End User, 2016–2025 ($Million)
Table 32 France: Healthcare Virtual Assistant Market Size, by Product, 2016–2025 ($Million)
Table 33 France: Market Size, by Technology, 2016–2025 ($Million)
Table 34 France: Market Size, by End User, 2016–2025 ($Million)
Table 35 Rest of Europe: Healthcare Virtual Assistant Market Size, by Product, 2016–2025 ($Million)
Table 36 Rest of Europe: Market Size, by Technology, 2016–2025 ($Million)
Table 37 Rest of Europe: Market Size, by End User, 2016–2025 ($Million)
Table 38 Asia Pacific: Healthcare Virtual Assistant Market Size, by Country, 2016–2025 ($Million)
Table 39 Asia Pacific: Market Size, by Product, 2016–2025 ($Million)
Table 40 Asia Pacific: Market Size, by Technology, 2016–2025 ($Million)
Table 41 Asia Pacific: Market Size, by End User, 2016–2025 ($Million)
Table 42 China: Healthcare Virtual Assistant Market Size, by Product, 2016–2025 ($Million)
Table 43 China: Market Size, by Technology, 2016–2025 ($Million)
Table 44 China: Market Size, by End User, 2016–2025 ($Million)
Table 45 Japan: Market Size, by Product, 2016–2025 ($Million)
Table 46 Japan: Healthcare Virtual Assistant Market Size, by Technology, 2016–2025 ($Million)
Table 47 Japan: Market Size, by End User, 2016–2025 ($Million)
Table 48 RoAPAC: Healthcare Virtual Assistant Market Size, by Product, 2016–2025 ($Million)
Table 49 RoAPAC: Market Size, by Technology, 2016–2025 ($Million)
Table 50 RoAPAC: Market Size, by End User, 2016–2025 ($Million)
Table 51 Latin America: Healthcare Virtual Assistant Market Size, by Country, 2016–2025 ($Million)
Table 52 Latin America: Market Size, by Product, 2016–2025 ($Million)
Table 53 Latin America: Market Size, by Technology, 2016–2025 ($Million)
Table 54 Latin America: Market Size, by End User, 2016–2025 ($Million)
Table 55 Middle East & Africa: Healthcare Virtual Assistant Market Size, by Country, 2016–2025 ($Million)
Table 56 Middle East & Africa: Market Size, by Product, 2016–2025 ($Million)
Table 57 Middle East & Africa: Market Size, by Technology, 2016–2025 ($Million)
Table 58 Middle East & Africa: Market Size, by End User, 2016–2025 ($Million)
Table 59 Agreements, Collaborations, Partnerships, and Joint Ventures
Table 60 Acquisitions
Table 61 Product and Service Launches
Table 62 Expansions
Table 63 Key Companies: Market Positioning/Ranking

LIST OF FIGURES

Figure 1 Market Segmentation
Figure 2 Key Stakeholders of Healthcare Virtual Assistant Market
Figure 3 Research Process
Figure 4 Key Executives Interviewed
Figure 5 Primary Research Techniques
Figure 6 Market Size Estimation
Figure 7 Global Healthcare Virtual Assistant Market, 2016–2025 ($Million)
Figure 8 Healthcare Virtual Assistant Market Outlook, by Product, 2018 Vs. 2025
Figure 9 Healthcare Virtual Assistant Market Outlook, by Technology, 2018 Vs. 2025
Figure 10 Healthcare Virtual Assistant Market Outlook, by End User, 2018 Vs. 2025
Figure 11 Healthcare Virtual Assistant Market Outlook, by Region, 2018 Vs. 2025
Figure 12 Market Dynamics:
Figure 13 Global Healthcare Virtual Assistant Market Size, by Product, 2018–2025 ($Million)
Figure 14 Global Healthcare Virtual Assistant Market Size, by Technology, 2018–2025 ($Million)
Figure 15 Global Healthcare Virtual Assistant Market Size, by End User, 2018–2025 ($Million)
Figure 16 Growth Strategies of the Prominent Players
Figure 17 Microsoft Corporation: Financial Overview, 2015-2017
Figure 18 Nuance Communications Inc.: Financial Overview, 2015-2017
Figure 19 eGain: Financial Overview, 2015-2017
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