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HEALTHCARE & PHARMACEUTICAL

Virtual Nursing Assistants Market Segmentation by Product (Chatbots, Smart speakers); and by End User (Healthcare Providers, Healthcare Payers, Patients and Others) – Global Demand Analysis and Opportunity Outlook 2020-2029

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In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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Virtual Nursing Assistants Market Highlights 2020-2029

Virtual nursing assistants market is estimated to grow with a high CAGR during the forecast period, i.e.,2020-2029. Extensive research associated with virtual nursing assistants in western countries, along with the growing internet connectivity and smartphone devices, increasing Use of healthcare applications, rising prevalence of chronic disorders, growing demand for quality healthcare delivery are expected to fuel the progress of this market. The growth of the market can also be attributed to factors such as growing adoption of internet of things and rising integration of artificial intelligence in healthcare.

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The market is segmented based on product into chatbots and smart speakers, out of which, the chatbots segment is predicted to hold the largest virtual nursing assistant market share owing to an increased demand of virtual assistants in the healthcare sector as they can assist nurses, patients and physicians at different levels through speech or text. CLICK TO DOWNLOAD SAMPLE REPORT

However, the smart speaker segment is poised to grow at a faster rate during the forecast period due to advancements like automatic speech recognition garnering demand in recent times. The smart speaker segment is expected to witness the highest growth during the forecast period. The growth in this segment can be attributed to the increasing consumer preference for technologically advanced products. Moreover, smart speakers are multifunctional, fast, varied, and reliable solutions, this not only saves time but also offers increased comfort and greater convenience and contribute to the growth of the segment during the forecast period.

Based on user interface, the automatic speech recognition segment is expected to grow at the highest CAGR during the forecast period owing to certain factors such as less paperwork, reduced time consumption, and improved workflow.

Based on end user the providers segment is expected to grow at a significant CAGR during the forecast period. The growth of this segment is owing to the increasing adoption of artificial intelligence by the healthcare professionals to improve the clinical workflow and work efficiency in less time.

Virtual nursing assistants Market Regional Synopsis

North America commanded the highest share in the global healthcare Virtual assistant market, followed by Europe and Asia Pacific. The highest share of North American region in the virtual assistant market is primarily attributed to the growing healthcare sector, increasing need to reduce healthcare cost, rising demand of the technological advancements by the healthcare facilities, and growing demand of the healthcare industry to maintain a balance between the patient engagement and clinical workflow.

Asia Pacific is expected to be the fastest growing region with countries such as India and China being the largest contributors to the growth of the market due to the factors such as cheap labor, low production cost, and increasing awareness of virtual assistant solution among the consumers. Additionally, growing R&D investments and rising healthcare infrastructure are expected to equally influence the overall growth of the  virtual nursing assistant market during the forecast period.

Virtual-Nursing-Assistants-Market-Share

The virtual nursing assistant market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of virtual nursing assistants market includes the following segments:

By Product

  • Smart Speakers
  • Chatbots

By User Interface

  • Automatic Speech Recognition
  • Text-Based
  • Text-To-Speech
  • Others

By End User

  • Healthcare Providers
  • Healthcare payers
  • Patients
  • Other end users

Growth Drivers

  • Growing internet connectivity and smartphone devices
  • Increasing use of healthcare applications.
  • Rising prevalence of chronic disorders
  • Growing demand for quality healthcare delivery
  • Growing adoption of internet of things
  • Rising integration of artificial intelligence in healthcare

Challenges

  • Lack of awareness among healthcare professionals
  • Data privacy and security concerns

Top Featured Companies Dominating the Market

  •  Microsoft Corporation
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • CSS Corp
  • Sensely, Inc
  • Verint Systems Inc.
  • eGain Corporation
  • Kognito Solutions, LLC
  • HealthTap, Inc.
  • True Image Interactive, Inc.
  •  Nuance Communications, Inc.
  • Medrespond LLC.

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