Voice Assistants and Chat-bots Technologies for Drugs Market Intelligence

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Report Coverage

  • Supplier Landscape
  • Cost Structure – Chat Bots
  • Cost Structure – Voice Assistance
  • Case Studies – Voice Assistance
  • Competitive Intelligence

Market Size

Global Market Size

$ 2.21 Bn

CAGR

45-50 Percent

Table of contents

  1. Voice Assistants and Chat-bots Technologies for Drugs Executive Summary
  1. Voice Assistants and Chat-bots Technologies for Drugs Market Analysis
  1. Voice Assistants and Chat-bots Technologies for Drugs Supplier Landscape
  1. Voice Assistants and Chat-bots Technologies for Drugs Cost Structure
  1. Voice Assistants and Chat-bots Technologies for Drugs Trends, Competitive Intelligence, and Case Studies

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Global Market Outlook on Voice Assistants and Chat-bots Technologies for Drugs 

Patients meeting with doctors via online portal or telemedicine have increased to 60% from 2015, and it shows that the reliance on electronic platforms are being widely adopted from patients as well as the pharma front. This will pave the way for success of the virtual assistance, such as voice assistance and bots, in the industry.

Pharma is preferring to chat-bots for communication, instant messaging and to collaborate efficiently among internal teams. It is surprising that small pharma and emerging nation, like Nigeria, are willing to adopt such technologies to a higher extent

Vertical Voice Technology Application (2018)

  • The use of Artificial Intelligence and robots in the healthcare industry is witnessing growth, due to it various advantages including:

–Resources: It reduces the dependence on customer service representatives by answering basic questions. Thus, it will free resources to handle necessary stuff where human interaction is necessary

–Reach: Companies have a standalone customer service feature in their mobile app, shifting in using chat-bot through Facebook Messenger will immediately provide access to over 900 million monthly users

 Adoption in Industry

Adoption numbers are expected to grow at a higher rate, owing to the better alignment of AI in healthcare. Lack of maturity and common error in communication hinder the shift in the market.

Market Drivers and Constraints

With companies contemplating to shift to disruptive technologies, the savings and aim to better healthcare are pushing the industry to move toward increased adoption of such non-traditional means

Market Drivers

  • Better Service to Healthcare Professional: Data on understanding a particular disease, progression, etc., are available on awareness sites. These can prove to be handy giving data on toxicity, dosage, calculations, etc.
  • Aligning to Demand: Increasing in number of digital demand mindset from other industries is forcing and driving pharma to also cater to immediate information
  • Advances in AI space: Pharma domains have been approaching AI and machine learning for better use of resources and to save time. Thus, AI and chat-bots also are being thought upon to bring process efficiencies

Market Constraints

  • Patient privacy and protection: Major concern for the industry, with respect to the disclosure of patient data, are likely to increase with virtual data collection practices
  • Fair Balance Act: Content distributed by the company must include a balance of information about drug risks, as much as it provides about drug benefits
  • Regulatory issues: Complying to regional regulatory requirements, including the subject recruitment advertisements and other data to be shared with the subjects, is mandatory

Other Factors Impacting the Market

  • User Experience Challenge: Having a successful automation robot and thinking about the goals lined, problems that needs to be solved and where efficiencies and risks can be mitigated, in order to better the patients' experience.
  • Acceptance by Patients: People would want “human touch” usually when it comes to healthcare. Making right and intuitive decision, complications for people to access and use technology.
  • Scalability: Chat-bots can be developed for all types of needs, therapeutics, where some chat-bots can complete many different tasks in lesser time

Improving Patient Assistance and Adherence

Chat-bot or a virtual support program should be able to offer right experience, and hence, needs to be fine tuned and more personalized. Identifying areas that can be automated and handled by AI can avoid time delay and better patient experience.

The use of chat-bots in PR&R programs are still in the infant stage, with emotionally intelligent AI to drive this to the next level

  • Doctor Discussion Guide: Providing patients with an environment similar to a clinic for better communication with doctors.
  • Benefits Verification Support: Overcoming the complexities involved in the verification process using voice assistance
  • Medication Reminder: Improving patient adherence through messages and voice chats will add a personal touch
  • Implementing Machine Learning in Hospitals and Clinics: This can bring in a new wave in the treatment of the patients and also suggest treatments
  • Patients with Physical Disabilities: They are driving the growth of the voice tech, in terms of booking appointments, real-time health check ups, etc

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