Virtual Assistance In Healthcare Market Research, 2031
The global virtual assistance in healthcare market size was valued at $495.4 million in 2021, and is projected to reach $2.1 billion by 2031, growing at a CAGR of 15.6% from 2022 to 2031.The virtual assistance in healthcare can be defined as solutions providing healthcare-related services through remote monitoring and by virtually connecting with patients. The virtual assistant services involve connecting with home-based patients, symptom analysis through mobile-based apps, and seeking information about any disease through smart speakers. There are different types of virtual assistant products, including smart speakers, web-based chatbots, and mobile-based chatbots. The advantages of virtual assistant in healthcare, include low-cost treatments, end-to-end connectivity of patients and healthcare professional, patient’s data monitoring, and scheduling patient appointment, which saves patients’ as well as physicians’ time.
The virtual assistance in healthcare can be defined as solutions providing healthcare-related services through remote monitoring and by virtually connecting with patients. The virtual assistant services involve connecting with home-based patients, symptom analysis through mobile-based apps, and seeking information about any disease through smart speakers. There are different types of virtual assistant products, including smart speakers, web-based chatbots, and mobile-based chatbots. The advantages of virtual assistant in healthcare, include low-cost treatments, end-to-end connectivity of patients and healthcare professional, patient’s data monitoring, and scheduling patient appointment, which saves patients’ as well as physicians’ time.
In addition, growth of the global virtual assistance in healthcare market share is majorly driven by the COVID-19 pandemic, increased incorporation of artificial intelligence, increase in number of product launch, and incorporation of virtual assistant in healthcare by developing countries. Thus, these factors are anticipated to fuel the growth of the market. Moreover, increase in urge to low-cost treatments and social distancing during lock-down period caused rise in adoption of virtual assistance tools in healthcare. For instance, according to National Public Radio, 39 million U.S population have access to smart speakers. Moreover, according to a survey conducted by Smart Home Week in UK, 57% of homes contains smart speakers. Furthermore, increase in self-awareness among patients regarding mobile-based virtual assistant propels the demand for virtual assistant in healthcare.
However, the global market expansion is being fueled by factors, such as increase in consumer preference for technologically advanced products, increase in geriatric population, rise in number of digital devices users, and technological innovations in artificial intelligence. In addition, rise in the number of key players for product launch in virtual assistant in healthcare sector fuels the market growth. Moreover, increase in adoption of different strategies such as product launch, collaboration, and partnership among the key players in the field of virtual assistant solutions propels the growth of the global virtual assistance in healthcare market share. For instance, in August 2021, Nuance Communications, Inc. announced the collaboration with Cooper University Health Care, to provide broadest virtual assistant product portfolio. On the other hand, the patient’s personal data breach is anticipated to hamper the global virtual assistance in healthcare market growth.
Impact of COVID-19 on Healthcare Virtual Assistance Market
Coronavirus Severe acute respiration syndrome (SARS-CoV-2) is an infectious disease caused by the novel coronavirus (COVID-19), which originated in the Wuhan district in China in the late 2019, and since has spread to 212 countries. The virus was initially referred to as “novel coronavirus 2019” (2019-nCoV) by the WHO, however, on February 11, 2020, it was given the official name of SARS-CoV-2 by the International Committee on Taxonomy of Viruses. WHO declared COVID-19 as pandemic on March 11, 2020, and by September 1, 2020, over 28.1 million people have been infected globally with over 909,000 deaths. COVID-19 symptoms include fever, cough, and shortness of breath.
Nearly all industries have been impacted by COVID-19. Coronavirus crises led to follow the social distancing rules lock-down and strictly, have resulted in a significant demand for the virtual assistance in healthcare across several sectors, particularly the healthcare and medical sector. The main cause of the accelerated market growth is virtual treatment offered by doctors through video conferencing, various mobile-based chatbots launched in this period to provide disease related information, and vaccine dose scheduling through COVIN app in India. As a result, the COVID-19 outbreak is expected to propel the global market growth of virtual assistance in healthcare, which will have a positive effect on the market's value in 2022 and beyond.
The virtual assistance in healthcare market is segmented on basis of product, user interface, end user, and region. By product, it is segmented into smart speakers and chatbots. On the basis of user interface, the market is segmented into automatic speech recognition, text-based, and text-to-speech. By end user, the market is bifurcated into healthcare providers (hospitals, ambulatory care centers and others), patients, and healthcare payer. Region-wise, the market is studies across North America, Europe, Asia-Pacific, and LAMEA.
By Product Segment Review
By product, the smart speaker segment was the highest revenue contributor to the market. Furthermore, advances in the smart speakers, such as Suli app designed for the diabetes disease also known as Diabetes Guru, provides the diabetes disease information and also answers some diabetes related questions.
On the other hand, the chatbots segment is expected to witness a considerable growth of the virtual assistance in healthcare market size during the forecast period, owing to increase in use of web-based chatbots and healthcare mobile-based apps.
By Product
Smart Speakers segment held a dominant position in 2021 and would continue to maintain the lead over the forecast period
By User Interface Segment Review
By user interface, the automatic speech recognition segment dominated in the market in 2021 and is expected to continue this trend during the virtual assistance in healthcare market forecast period, due to adoption of automatic speech recognition in healthcare and multi-language support in healthcare.
By User Interface
Automatic Speech Recognition segment is projected as one of the most lucrative segment.
By End User Segment Review
The healthcare provider segment dominated in the market in 2021, and is expected to remain dominant during the forecast period, owing to increase in use of virtual assistants solutions by doctors and physicians for provide home-based treatments, scheduling appointments, and maintaining patient’s data.
By End User
Healthcare Providers segment is projected as one of the most lucrative segment.
Region Type Segment Review
The North America market was dominant, in terms of revenue among other regions in 2021, owing to increase in demand for virtual assistant tools and new product launches. On the other hand, Europe was the second-largest contributor in the market in 2021 and is expected to register fastest CAGR during the forecast period, owing to increase in adoption of virtual assistance in healthcare and observed growth in product innovations of virtual assistance.
By Region
North America was holding a dominant position in 2021 and would continue to maintain the lead over the analysis period.
Some of the major companies that operate in the global virtual assistance in healthcare industry include, ADA Digital Health, Amazon, Babylon Holdings, CSS Corporation, Egain Corporation, Healthtap, Intelligent Digital Avatars, Inc., Infermedica, Kognito Solutions, LLC, MedRespond LLC, Microsoft Corporation, Neolytics LLC, Nuance Communications, Inc., Orbita, Sensely, Verint Systems, Inc., and Virgin Plus.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the virtual assistance in healthcare market analysis from 2021 to 2031 to identify the prevailing virtual assistance in healthcare market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the virtual assistance in healthcare industry segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global virtual assistance in healthcare market trends, key players, market segments, application areas, and market growth strategies.
Virtual Assistance in Healthcare Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 2.1 billion |
 Growth Rate | CAGR of 15.6% |
 Forecast period | 2021 - 2031 |
 Report Pages | 310 |
 By Product |
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 By User Interface |
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 By End User |
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 By Region |
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 Key Market Players | MedRespond LLC, Kognito Solutions, LLC, Orbita, Neolytix, VIRGIN PLUS (WELLTOK, INC), Infermedica, Nuance Communications, Inc., CSS Corporation, ADA Digital Health, Verint Systems Inc., Intelligent Digital Avatars, Inc., EGAIN CORPORATION, Sensely, Inc., Microsoft Corporation, Healthtap, Inc. |
Analyst Review
In accordance with several interviews conducted, the utilization of virtual assistance services is likely to witness a significant rise in the market.
The virtual assistant in healthcare market provides services through various digital advanced platforms, such as video conferencing, smart speakers, web-based chatbots, and others. These platforms are most likely used by the healthcare professionals due to its advantages, such as it handles the accurate patient’s information, 24/7 patient connectivity can be maintained, and cost-effective treatments can be provided.
Increase in chronic disease prevalence, such as cancer and respiratory syndrome needs quality treatment delivery on time, which can be provided through virtual assistants. This is one of the major factor driving the global virtual assistance in healthcare market growth. Furthermore, healthcare virtual assistants offers personalized experiences to patients. It helps to identify their disease based on the symptoms, schedule doctor appointments, and monitor their health status.
In addition, North America holds the largest share of the virtual assistance in healthcare market in 2021, owing to increased use of virtual assistant in healthcare infrastructure, increase in the number of approval for healthcare software and cloud-based solutions, and strong presence of key players.
The upcoming trends of Virtual Assistance in Healthcare Market are virtual assistant technology in the healthcare sector can help to improve many health processes and enhance global healthcare delivery.
virtual assistant technology offers personalized experiences to patients. It helps to identify their disease based on the symptoms, schedule doctor appointments, and monitor their health status.
North America is the largest regional market for Virtual Assistance in Healthcare.
Virtual Assistance in Healthcare is projected to reach $2,112.1 million by 2031, registering a CAGR of 15.6% from 2022 to 2031.
Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Major key players that operate in the global virtual assistance in healthcare market are ADA Digital Health, Amazon, Babylon Holdings, CSS Corporation, Egain Corporation, Healthtap, Intelligent Digital Avatars, Inc., Infermedica, Kognito Solutions, LLC, MedRespond LLC, Microsoft Corporation, Neolytics LLC, Nuance Communications, Inc., Orbita, Sensely, Verint Systems, Inc., and Virgin Plus.
Yes, the Virtual Assistance in Healthcare market report provides PORTER Analysis
The base year is 2021 in Virtual Assistance in Healthcare market
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