Market is projected to grow from USD 415.1 Million in 2021 to USD 3,125.1 Million
by 2028 at the
Compound Annual Growth Rate (CAGR) of 35.6%.
Healthcare virtual assistant is a powerful AI tool that can be
used by patients
to answer their health-related questions through interactive web-based and
applications. assists physicians in updating electronic
health records and enables them to access schedules,
patient history, etc. All
of these activities will help increase productivity and help physicians
more on patients than management tasks. can be used by payers to
collect important biometric data of
chronically ill patients, ensure strong
patient involvement and help patients choose the right insurance plan.
this, too, will help increase efficiency, effectiveness, and satisfaction.
The rise of chronic diseases, coupled with the growing demand for quality healthcare, is one of the major driving forces in the healthcare virtual assistant market. The growth of this market will be driven by factors such as increased internet connectivity and smartphone devices, increased focus on patient engagement, shortage of healthcare professionals, increased burden of lifestyle diseases, and the need to reduce healthcare costs. The increase in the use of patient healthcare apps also contributes to the growth of the healthcare market. Apart from this, the implementation of IoT in healthcare is expected to have a positive impact on the healthcare virtual assistant market. Technological advances in natural language processing, practical skills, in-depth learning, and machine learning are expected to drive the market forward. The integration of real healthcare providers into the local health system will help reduce overall health costs, which will be one of the major factors in the acceptance by healthcare providers. However, future concerns about patient data security and the lack of systematic data in health care may hamper the growth of this market to some extent.
On a product basis, the chatbot market commanded the largest share of the Market over the segment of smart speakers. Chatbots are computer programs designed to replicate a conversation in a visual or textual way using artificial intelligence and natural language processing. Currently, chatbots are used in the healthcare industry mainly for basic applications, which include symptom testing, medical assistance, time planning, medical guidance, and patient involvement. The works with user interfaces such as automatic speech recognition, text-based, text-to-speech, and others. All these, serve end-users like healthcare providers, patients, healthcare payers, and other end users.
On the basis of regional analysis, the global Market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.North America is expected to grow at a very high CAGR in the Market during the forecast period. The growth is largely driven by the growth of the elderly, the high influx of smartphones, technological advances, the growing use of remote monitoring equipment, and the rising cost of health care.
Key players in the Global Market worldwide include Some of the key companies in the market are Nuance Communications, Inc.; CodeBaby Corporation; eGain Corporation; Kognito; Microsoft Corporation; MedRespond; CSS Corporation; Next IT Corporation; True Image Interactive, Inc.; and Welltok, Inc..