Global Digital Assistants in Healthcare Market: Snapshot
Surge in the need for automation across the healthcare industry is expected to generate prominent sales prospects for companies operating in the global digital assistants in healthcare market during the forecast period 2021-2031. Medical reference, patient tracking, drug dosage, diagnostic guides, nursing reference, and medical calculators are some of the prominent applications of the products from the global digital assistants in healthcare market.
An upcoming report by Transparency Market Research (TMR) provides thorough study of major facets influencing the development curve of the global digital assistants in healthcare market. Therefore, this study covers assessment of many prime facets such as current and historical trends, drivers, restraints, R&D projects, challenges, and expansion opportunities in the market.
The study analysts have performed segmentation of the global digital assistants in healthcare market based on many important parameters such as product, user interface, application, end-user, and region. In terms of product, the market is classified into two parts, namely, chatbots and smart speakers.
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Key Drivers of Digital Assistants in Healthcare Market Growth
Rise in people with chronic health issues and increased demand for home-based monitoring devices are some of the major factors driving the growth of the digital assistant in the healthcare market. A surge in the need for maintaining average healthcare expenses is creating promising avenues for companies operating in the global digital assistants in healthcare market.
In recent years, there is significant surge in the adoption of home-based devices among people of all age groups. Owing to the compact size and portability, patients can carry these devices anywhere easily. Moreover, these devices help in continuous monitoring of patient’s condition. On the back of these advantages, the demand for home-based devices is increased, which in turn, is boosting the growth of the global digital assistants in healthcare market. Increase in older population is expected to result into surge in demand for such devices, which in turn, is expected to assist in the market growth.
Competition Landscape of Digital Assistants in Healthcare Market
The global digital assistants in healthcare market is moderately fragmented in nature. Presence of significant number of well-entrenched players connotes that the competitive landscape of the market for digital assistants in healthcare is extremely intense. Companies working in this market are using diverse strategies to gain the leading position. Some of the key strategies used by enterprises in the digital assistants in healthcare market include mergers, acquisitions, joint ventures, new product launches, partnerships, and collaborations.
The list of key players in the global digital assistants in healthcare market includes:
- Microsoft Corporation
- Amazon.com Inc.
- ADA Digital Health
- Verint Systems Inc.
- Sensely Inc.
- Nuance Communications Inc.
- Infermedica Sp. z o.o
- eGain Corporation
- CSS Corporation Pvt Ltd
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Regional Outlook for Digital Assistants in Healthcare Market
In terms of region, the global digital assistants in healthcare market shows existence in many regions including Europe, North America, Asia Pacific, Latin America, and Middle East and Africa. Among all, North America seems to be one of the dominant regions of the market for digital assistants in healthcare.
Companies from the North America market are increasing investments toward the development of advanced digital assistant technology using AI and ML in order to back automated decision-making systems. This factor is projected to drive the growth of the North America digital assistants in healthcare market in the upcoming years.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.