The healthcare virtual assistants market was USD 292.5 M in 2018 and is expected to generate revenue of around USD 2,300.5 M, a CAGR of 34.4% in 2018 and 2025.

SUITE N202, FLORIDA, UNITED STATES, September 8, 2022 /EINPresswire.com/ -- Zion Market Research has published a new report titled “Healthcare Virtual Assistants Market by Product (Chatbots and Smart Speakers), User Interface (Text-to-speech, Text-based, Automatic Speech Recognition, Others), and End User (Healthcare Payers, Patients, Healthcare Providers, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2019 – 2025” According to the report, global demand for healthcare virtual assistants market was valued at approximately USD 292.5 Million in 2018, and is expected to generate revenue of around USD 2,300.5 Million by end of 2025, growing at a CAGR of around 34.4% between 2018 and 2025.

Virtual assistants are AI-based systems that work in association with humans to perform various tasks. These virtual assistants engage cognitive technologies like machine learning, natural language handling, and neural systems in order to enable communications with the handlers. In the healthcare domain, virtual assistants are used to surge patient engagement. The healthcare virtual assistants empower organizations to gather insurance specifics, demographic evidence, patient wellbeing history, data mining, procurement specifics, and finance/costing.

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Factors such as increase in the number of smartphone owners globally, rising use of healthcare applications, increasing focus on making conversational tools for virtual assistants, growing demand for superior healthcare infrastructure, and increasing incidence of chronic ailments will act as major driving factors in the growth of global healthcare virtual assistants market.

The emergence of multiple-language-aided virtual assistant tools and scientific advancements in the healthcare segment will act as an opportunity for the market players in the healthcare virtual assistants market. Nonetheless, the shortage of organized data in the healthcare sector will restrict the growth of the global healthcare virtual assistants market.

The global healthcare virtual assistants market has been split into a product, user interface, and end user. Based on the product, the healthcare virtual assistants market has been segmented into chatbots and smart speakers. The smart speaker segment accounted for the highest market share in 2018 due to the growing preference for high-tech products and the convenience offered by smart speakers.

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The user interface segment has been segmented into text-to-speech, text-based, automatic speech recognition, and others. The automatic speech recognition segment is expected to grow at the topmost CAGR during the estimated time frame. The end user segment has been segmented into healthcare payers, patients, healthcare providers, and others.

The geographical segmentation comprises the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America will be the leading region during the forecast period. The rapid uptake of new technologies, adoption of multiple patient engagement technologies, and high awareness regarding virtual assistants will boost the market growth in this region.

Europe will be the second largest market. The major reasons are the growing demand for reducing healthcare costs, support from the government, and high awareness regarding the use of technology in healthcare. The Asia Pacific will grow at a speedy rate over the estimated period due to a high number of smartphone users, growing internet connectivity, advancements in medical technology, and increasing use of remote observing devices. The Latin American market will develop at a significant rate during the forecast period. The African and Middle Eastern countries are expected to experience noticeable growth in the projected time frame.

Browse the full “Healthcare Virtual Assistants Market Industry Perspective, Comprehensive Analysis, and Forecast, 2019 - 2025” Report at

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The report also includes detailed profiles of key players such as Microsoft, Nuance Communications Inc., Amazon, Sensly, HealthTap Inc., Infermedica, eGain Corporation, Babylon Healthcare Services Ltd, Verint Systems Inc., and Kognito Solutions LLC among others.

This report segments the Global Healthcare Virtual Assistants Market as follows:

Global Healthcare Virtual Assistants Market: By Product

Chatbots
Smart Speakers

Global Healthcare Virtual Assistants Market: By User Interface

Text-to-speech
Text-based
Automatic Speech Recognition
Others

Global Healthcare Virtual Assistants Market: By End User

Healthcare Payers
Patients
Healthcare Providers
Others

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Growth Agents

The growing elderly population, rising healthcare expenditures, and technical developments in medical equipment are the primary factors driving the global market for virtual assistants in healthcare. The demand for healthcare virtual assistants is anticipated to rise in the near future due to rising health consciousness among the populace and an increase in the number of people being diagnosed with chronic diseases like diabetes, cardiac problems, and respiratory ailments. Globally, the number of elderly individuals is rising quickly. Chronic conditions like diabetes are more common in the elderly population. The market for healthcare virtual assistants is then anticipated to develop as a result. However, the expansion of the home healthcare business may soon face difficulties due to shifting reimbursement practices and constrained insurance coverage. Over the next several years, it is anticipated that there will be a rapid increase in the number of jobs in the market for healthcare virtual assistants.

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Kajal Rupnar
Zion Market Research
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