\ According to the current analysis of Reports and Data, the Medical Virtual Assistant market was valued at USD 397.2 million in 2019 and is expected to reach USD 2830.1 million by the year 2027, at a CAGR of 27.2%. Virtual assistant devices take care of patients needs and keep as well as record the health condition of the patient; and therefore are widely used in surgical interventions and assist the doctors in the operating rooms. Voice technology is significantly used in various digital assistants. It exploits embedded analytics aa well as designed smart workflows which produces dynamic responses. A virtual assistant can be of a multiple use such as organizing huge data avoiding paperwork, provide online billing services, provide continuous patient monitoring and various other applications.
The rising number of smartphone users across the globe is expected to be a major industry driver. Also, the growing use of mobile applications may contribute to the growth of the industry in the forecast period. The growing need to improve the healthcare expenditure and rising technological advancements in various regions may propel the market widely in the future. Furthermore, the increasing conditions of chronic diseases such as diabetes, cardiac diseases and others may trigger the industry in the future.
Various technological tools such as voice technology and multi-language support may produce growth opportunities for new entrants in the market. The high cost of virtual assistants could be a major factor hampering the growth of the market.
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Market Overview:
The global Medical Virtual Assistant market has significantly grown over the recent past and is expected to register rapid growth over the forecast period. The pharma and healthcare sector is rapidly evolving with innovations in technology, increasing healthcare spending and improving healthcare facilities and systems. Many hospitals, ambulatory surgical care centers and clinics across the globe are adopting advanced devices and equipment. Revenue growth of the global Medical Virtual Assistant market is significantly driven by factors such as increasing prevalence of chronic diseases, rapid advancements in healthcare and medical sector, high adoption of latest tools and techniques and growing funds by several public and private sectors. In addition, rising focus on drug development, increasing demand for precision medicine, high adoption of home care settings and point-of-care diagnostics, increasing investments in research and development activities are expected to drive global market revenue growth during the forecast period.
Competitive Outlook of the Global Medical Virtual Assistant Market
The globla Medical Virtual Assistant market study focuses on the revenue growth trajectories of the leading companies in this market. This section of the report throws light on the highly competitive landscape of the Medical Virtual Assistant market, pointing out the major players. The report further discusses the strategic initiatives undertaken by each of these market players, including mergers acquisitions, collaborations, joint ventures, new product launches, new business deals, and technological innovations.
Top Companies Profiled in the Report:
Amazon, eGain Corporation, Nuance Communications Inc., Infermedica, Sensly, Kognito Solutions LLC, Verint Systems Inc, HealthTap Inc., Microsoft, and Babylon Healthcare Services Ltd.
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The report is inclusive of product type outlook, application spectrum, end-use outlook, technology landscape, regional market analysis, and competitive overview.
Medical Virtual Assistant Market Segmentation:
By Product Outlook (Revenue in Million USD; 2017–2027)
- Smart Speakers
- Chatbots
By User Interface Outlook (Revenue in Million USD; 2017–2027)
- Automatic Speech Recognition
- Text-based
- Text-to-speech
- Others
By End Use Outlook (Revenue in Million USD; 2017–2027)
- Healthcare Providers
- Patients
- Healthcare Payers
- Others
Geographic Segment Covered in the Report:
The Medical Virtual Assistant report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
- North America (USA and Canada)
- Europe (UK, Germany, France and the rest of Europe)
- Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
- Latin America (Brazil, Mexico, and the rest of Latin America)
- Middle East and Africa (GCC and rest of the Middle East and Africa)
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