The Europe Health Intelligent Virtual Assistant Market would witness market growth of 23.0% CAGR during the forecast period (2023-2030).
Hospitals are adopting IVAs to provide better patient experiences, including streamlined scheduling, reduced wait times, and efficient administrative processes. IVAs manage appointment bookings, handle billing inquiries, and assist with insurance-related tasks, freeing up staff to focus on patient care. Many primary care and specialty practices have integrated IVAs into their telehealth services, allowing patients to conduct virtual consultations and access medical advice remotely. The use of IVAs in managing chronic conditions, such as diabetes and hypertension, is on the rise. These tools help patients monitor their health and make proactive decisions.
Moreover, health insurance companies utilize IVAs to offer member services, including claim submissions, benefit explanations, and guidance on in-network providers. IVAs support population health management initiatives by promoting preventive care and assisting with risk assessments. Pharmaceutical companies employ IVAs to provide medication adherence reminders, answer questions about their products, and gather data on patient experiences with medications. IVAs are crucial in recruiting and enrolling patients in clinical trials and providing information and updates.
According to the Eurostat data, Germany had the highest level of current healthcare expenditure among the EU Member States, valued at €432 billion in 2020. Following Italy ($160 billion) and Spain ($120 billion) in terms of current healthcare spending was France ($281 billion). More than any other EU Member State, current healthcare spending in Germany and France was comparable to 12.8% and 12.2% of GDP, respectively. Spain, Portugal, and Denmark were the only EU Member States to record double-digit ratios. Higher healthcare spending often translates to more advanced and patient-centric healthcare services. Health IVAs enhance the overall patient experience by providing quick, accurate, and personalized responses to patient queries, assisting with appointment scheduling, and offering medication reminders. This leads to higher patient satisfaction and engagement. These factors will assist in boosting the demand in Europe.
The Germany market dominated the Europe Health Intelligent Virtual Assistant Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $138.8 Million by 2030. The UK market is experiencing a CAGR of 21.9% during (2023 - 2030). Additionally, The France market would witness a CAGR of 24% during (2023 - 2030).
Based on Product, the market is segmented into Chatbot and Smart Speakers. Based on Technology, the market is segmented into Text to Speech, Text Based and Automatic Speech Recognition. Based on End User, the market is segmented into Payer, Providers and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include eGain Corporation, Microsoft Corporation, MedRespond, Next IT Solutions Inc., True Image Interactive, Inc., Virgin Pulse, Inc., Verint Systems, Inc., Babylon Holdings Limited, Amazon.com, Inc., and Sensely, Inc.
Hospitals are adopting IVAs to provide better patient experiences, including streamlined scheduling, reduced wait times, and efficient administrative processes. IVAs manage appointment bookings, handle billing inquiries, and assist with insurance-related tasks, freeing up staff to focus on patient care. Many primary care and specialty practices have integrated IVAs into their telehealth services, allowing patients to conduct virtual consultations and access medical advice remotely. The use of IVAs in managing chronic conditions, such as diabetes and hypertension, is on the rise. These tools help patients monitor their health and make proactive decisions.
Moreover, health insurance companies utilize IVAs to offer member services, including claim submissions, benefit explanations, and guidance on in-network providers. IVAs support population health management initiatives by promoting preventive care and assisting with risk assessments. Pharmaceutical companies employ IVAs to provide medication adherence reminders, answer questions about their products, and gather data on patient experiences with medications. IVAs are crucial in recruiting and enrolling patients in clinical trials and providing information and updates.
According to the Eurostat data, Germany had the highest level of current healthcare expenditure among the EU Member States, valued at €432 billion in 2020. Following Italy ($160 billion) and Spain ($120 billion) in terms of current healthcare spending was France ($281 billion). More than any other EU Member State, current healthcare spending in Germany and France was comparable to 12.8% and 12.2% of GDP, respectively. Spain, Portugal, and Denmark were the only EU Member States to record double-digit ratios. Higher healthcare spending often translates to more advanced and patient-centric healthcare services. Health IVAs enhance the overall patient experience by providing quick, accurate, and personalized responses to patient queries, assisting with appointment scheduling, and offering medication reminders. This leads to higher patient satisfaction and engagement. These factors will assist in boosting the demand in Europe.
The Germany market dominated the Europe Health Intelligent Virtual Assistant Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $138.8 Million by 2030. The UK market is experiencing a CAGR of 21.9% during (2023 - 2030). Additionally, The France market would witness a CAGR of 24% during (2023 - 2030).
Based on Product, the market is segmented into Chatbot and Smart Speakers. Based on Technology, the market is segmented into Text to Speech, Text Based and Automatic Speech Recognition. Based on End User, the market is segmented into Payer, Providers and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include eGain Corporation, Microsoft Corporation, MedRespond, Next IT Solutions Inc., True Image Interactive, Inc., Virgin Pulse, Inc., Verint Systems, Inc., Babylon Holdings Limited, Amazon.com, Inc., and Sensely, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Product- Chatbot
- Smart Speakers
- Text to Speech
- Text Based
- Automatic Speech Recognition
- Payer
- Providers
- Others
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- eGain Corporation
- Microsoft Corporation
- MedRespond
- Next IT Solutions Inc.
- True Image Interactive, Inc.
- Virgin Pulse, Inc.
- Verint Systems, Inc.
- Babylon Holdings Limited
- Amazon.com, Inc.
- Sensely, Inc.
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 5. Europe Health Intelligent Virtual Assistant Market by Product
Chapter 6. Europe Health Intelligent Virtual Assistant Market by Technology
Chapter 7. Europe Health Intelligent Virtual Assistant Market by End-user
Chapter 8. Europe Health Intelligent Virtual Assistant Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- eGain Corporation
- Microsoft Corporation
- MedRespond
- Next IT Solutions Inc.
- True Image Interactive, Inc.
- Virgin Pulse, Inc.
- Verint Systems, Inc.
- Babylon Holdings Limited
- Amazon.com, Inc.
- Sensely, Inc.
Methodology
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