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Rising Demand for Healthcare Virtual Assistant Sector in COVID19 Pandemic

08-09-2021 01:49 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: AllTheResearch

Updated Research Report on "Healthcare Virtual Assistant Market - Segment Analysis, Opportunity Assessment, Competitive Intelligence and Industry Outlook, 2016 to 2023", published by AllTheResearch- The Global Healthcare Virtual Assistant Market was valued at US$ 291.5 Mn the year 2018 and is expected to reach US$ 1311.9 Mn in the year 2023, growing at a CAGR of 35.1%.

Healthcare virtual assistants will help physicians divert the time invested by them in administrative tasks to patient care. It will help reduce physician burnout and thereby, increase efficiency and productivity. Healthcare virtual assistants can help reduce the overall healthcare cost by carrying out functions such as scheduling appointments, updating electronic health records, amongst others.

HVAs will help patients to choose the right insurance plan, find a doctor’s office, receive payment reminders, and refill or fill a prescription. Increased patient-centricity provided by healthcare virtual assistants is one of the major drivers for the market.

The currently available healthcare virtual assistants leverage user-initiated capabilities. However, with advancements in deep learning and machine learning, the market will move towards fully automated ambient clinical intelligence.

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Global Healthcare Virtual Assistant Market Segmentation Scope
By Product Type
• Smart Speakers
• Chatbots

By User Interface
• Automated Speech Recognition
• Text-Based
• Text-To-Speech
• Others

By End User
• Providers
• Patients
• Payers

Key Developments:
· In October 2017, ADA Health secured $47 Mn funding for an AI-powered chatbot and telemedicine application.

· In April 2017, Babylon raised US$ 60 Mn in funding. The companies offering is a chatbot triage, which uses artificial intelligence and asks its users basic introductory questions and thereby determines if they should be seen by a doctor. The National Health System has already tested the company’s technology in a six-month trial, which included over 1.2 million citizens.

· In 2018, Nuance Communications rolled out its Dragon Medical One platform in Britain and Canada. The Dragon Medical One platform is a universal cloud-based speech recognition platform that enables physicians in fast and convenient capture of the patient’s complete clinical data. The implementation of this system, releases nurses and doctors from doing clinical documentation, and thereby allows them to dedicate more time towards patient care.

Nuance Communications, Inc, a market leader in healthcare virtual assistant, has recently unveiled Ambient Clinical Intelligence (ACI). This new technology has the power to reinvent physician-patient interaction. This technology is expected to be rolled out by 2020.

The major players operating in the healthcare virtual assistant market are Amazon (US), Babylon Healthcare Services Limited (UK), CSS Corporation (US), Egain Corporation (US), Healthtap, Inc. (US), Infermedica (Poland), Kognito Solutions, LLC (US), Microsoft Corporation (US), Nuance Communications, Inc. (US), and Verint Systems Inc. (US), amongst others.

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For all your Research needs, reach out to us at:
Contact Person: Rohan S.
US: 1(407)-768-2028

About AlltheResearch:
AllTheResearch was formed with the aim of making market research a significant tool for managing breakthroughs in the industry. As a leading market research provider, the firm empowers its global clients with business-critical research solutions. The outcome of our study of numerous companies that rely on market research and consulting data for their decision-making made us realize, that it’s not just sheer data-points, but the right analysis that creates a difference.

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