Global Health Intelligent Virtual Assistant Market is expected to grow at a CAGR of 41.30% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title Global Health Intelligent Virtual Assistant Market by Products (Chatbots, Smart Speakers), Technology, End-User, Region and Global Forecast 2018-2025.
As per the report, the global health intelligent virtual assistant market is expected to grow from USD 189.78 Million in 2017 to USD 3,463.09 Million by 2025 at a CAGR of 41.30% during the forecast period from 2018-2025. North America held the largest market share during the forecast period. High adoption of IoT in the region. Increasing usage of smartphones and lack of clinician’s are favouring the requirement of an aggressive healthcare facility. Shortage of clinicians/physicians is also driving the demand of virtual assistant in the region.
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Key players in the market include CodeBaby Corporation, Nuance Communications, Inc., eGain Corporation, Microsoft Corporation, Kognito, CSS Corporation, MedRespond, True Image Interactive, Inc., Welltok, Inc. and others. Many competitions are launching products that enable an app or equipment to act as an AI agent. For instance, in September 2017, Nuance Communications, Inc. introduced an AI-powered Dragon Medical Virtual Assistant. It is used in streamlining various clinical workflows. The new solution is used in improving patient experience by enhancing interactions between clinicians and patients.
The type segment is classified into proton therapy and heavy ion therapy. The proton therapy segment is dominating the market and held largest market share of 56.90% in 2017. The growth of the segment can be attributed to high degree of precision, reduced side-effects and less treatment time as compared to conventional photon therapies using X-rays. Product and services segment is divided products, cyclotrons, synchrotrons, synchrocyclotrons and services. Synchrotrons are dominating the segment and held the largest market share of 37.20% in 2017. The growth of the segment is due to increasing number of research activities and in the development of synchrotron facilities. System segment is classified into single-room and multi-room systems. The cancer type segment is divided into pediatric cancer, lung cancer, prostate cancer, head and neck cancer and others. Lung cancer is dominating the segment due to healthcare professional inclination towards particle therapy for lung cancer treatment. Application segment includes treatment applications and research applications.
Increasing demand for better minimally invasive therapies for cancer treatment and increasing government funding to set up these equipment in hospitals in developing countries are positively impacting the market. In addition, rising awareness regarding particle therapy and increasing investments by major players are expected to strengthen the market. High cost of the treatment and lack of skilled professionals may restrict the growth of the market. However, increasing number of medical professionals and patients opting for particle therapy are expected to drive the market.
About the report:
The global health intelligent virtual assistant market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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