Artificial Intelligence
Digital Assistants in Global Healthcare Markets, 2020-2025 – Industry to Witness a CAGR of 33.7% Over the Forecast Period
Dublin, Aug. 04, 2020 (GLOBE NEWSWIRE) — The “Digital Assistants in Healthcare Market – Growth, Trends and Forecasts (2020-2025)” report has been added to ResearchAndMarkets.com’s offering.
The Global Digital Assistants in the Healthcare Market is projected to register a CAGR of almost 33.7%, over the forecast period.
The critical factor liable for driving market growth is the growing requirement for automation, the number of users with smart devices is increasing at an increasing rate, which is further anticipated to boost the expansion of digital assistants in the healthcare market worldwide.
Currently, large-scale healthcare organizations are also implementing intelligent virtual assistants since they help eliminate the infrastructure setup cost. Hence, the cost-effectiveness of digital assistants is the critical factor that drives its rapid adoption, which in turn supports the global intelligent virtual assistant market growth.
Developments in the Natural Language Understanding (NLU) and Natural Language Processing (NLP) ha led to an increased number of functionalities that a digital assistant can offer from right from acting as a receptionist or a virtual nurse giving answers to simple medical queries to becoming an emotional support companion. Advanced functionalities such as these are leading to higher market growth. The COVID-19 pandemic has put tremendous strain on the healthcare sector globally. With no established treatment, an exponential rise in cases, limited resources, and vulnerability of the medical staff of catching the virus, the industry has found itself struggling to deal with the crises. In this scenario, Artificial Intelligence (AI) has emerged as a boon. The technology can help in coping with the COVID-19 pandemic effectively.
For instance, in Singapore, the National University Health System (NUHS) and Bot MD have partnered to launch the NUHS-Bot MD AI clinical assistant app for frontline medical staff to gain quick access to hospital-specific information, including COVID-19 guidelines and operational directives. The NUHS-Bot MD AI assistant is a chatbot that immediately answers questions from hospital staff about protocols, instructions, drug dosage information, drug formulary, and on-call rosters. Hence the industry will witness substantial growth opportunities even post-pandemic. Smart Speakers to Witness Significant Growth
North America Expected to Hold Significant Market Share
Competitive Landscape
The digital assistants in the healthcare market are moderately fragmented, as changing consumer demands are pushing companies to innovate in the space to attract more consumers. The competition in this market has intensified over the years, with companies launching a multitude of products to attract consumers. Recent industry developments:
Key Topics Covered
1 INTRODUCTION 2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS 5 MARKET SEGMENTATION 6 COMPETITIVE LANDSCAPE 7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/h8vm0a
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Key Market Trends
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness – Porter’s Five Forces Analysis
4.4 Market Drivers
4.4.1 Growing Smartphone Users and Increasing Use of Healthcare Applications
4.4.2 Rising Prevalence of Chronic Disorders
4.5 Market Restraints
4.5.1 Lack of Structured Data in the Healthcare Industry
4.5.2 Concerns Regarding Data Privacy
4.6 Assessment of Impact of COVID-19 on the Industry
5.1 Product
5.1.1 Smart Speakers
5.1.2 Chatbots
5.2 User Interface
5.2.1 Automatic Speech Recognition
5.2.2 Text-based
5.2.3 Text-to-speech
5.3 Application
5.3.1 Patient Tracking
5.3.2 Medical Reference
5.3.3 Diagnostic Guides
5.3.4 Drug Dosage
5.3.5 Medical Calculators
5.3.6 Nursing Reference
5.3.7 Others
5.4 End User
5.4.1 Healthcare Providers
5.4.2 Healthcare Payers
5.4.3 Patients
5.4.4 Other End Users
5.5 Geography
5.5.1 North America
5.5.2 Europe
5.5.3 Asia Pacific
5.5.4 Latin America
5.5.5 Middle East and Africa
6.1 Company Profiles
6.1.1 Amazon.com Inc.
6.1.2 Microsoft Corporation
6.1.3 Verint Systems Inc.
6.1.4 ADA Digital Health
6.1.5 Nuance Communications, Inc.
6.1.6 Sensely, Inc.
6.1.7 eGain Corporation
6.1.8 Infermedica Sp. z o.o
6.1.9 CSS Corporation Pvt. Ltd.
6.1.10 Babylon Healthcare Services Limited
6.1.11 Healthtap, Inc.
6.1.12 Medrespond LLC
6.1.13 True Image Interactive, Inc.
6.1.14 Floatbot.AI
6.1.15 Kore.AI, Inc.CONTACT: ResearchAndMarkets.com
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