Global Health Intelligent Virtual Assistant Market by Technology (Text to Speech, ASR), by Product (Smart Speakers, Chatbots) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
Summary of the Report
In 2017, the global market for health intelligent virtual assistants was valued at USD 186.3 millions. The market is expected to grow at a 39.1% CAGR over the forecast period. Virtual assistants for medical care (MVA) aid in patient engagement and offer virtual coaching to patients during their most difficult times. The market is expected to grow with the increasing adoption of AI in healthcare and an increased emphasis on patient engagement activities.
Many organizations are reviewing their user experience strategies and are now implementing patient engagement solutions to improve revenue and patient satisfaction. This will increase the market's growth.
Healthcare organizations can also use virtual assistants to improve patient services functions such as medication reminders or other personalized services. Virtual assistants use artificial intelligence to reduce the likelihood of being affected by rapid epidemics of disease, such as Ebola or Swine Flu.
These medical assistants are able to suggest preventive measures for common diseases such as HIV/AIDS, malaria, and tuberculosis. With technological advances, the importance of AI-driven MVAs has grown. Healthcare is increasingly using modern technologies such as automation and automatic speech recognition (ASR)
The expansion of digital transformation work is expected to drive further product and service development. The demand for ASR technology will increase over the forecast period due to increasing proof-of-concept studies in various healthcare areas and greater adoption of virtual assistants.
In November 2017, Google researchers created ASR practices to facilitate multi-speaker medical chats. Researchers concluded that these models could modernize the workflow of practitioners and serve as a transcription tool for documenting patient-doctor conversations. However, this market is subject to fierce competition and the emergence new technologies.
But, the increasing adoption of intelligent virtual assistants within the healthcare industry is encouraging market players to work across the value chain and invest in advanced solutions that will result in market growth. In September 2017, Nuance Communications, Inc. introduced the AI-powered Dragon Medical Virtual Assistant in order to simplify a number of clinical workflows. This new solution improves patient experience through enhanced interactions between patients and clinicians.
Product Insights
In 2017, the largest market share was held by the chatbots segment. Chatbots are in high demand because they can assist doctors, nurses, patients and others at different levels using text/speech/audio. Some of the most popular bots are Safedrugbot and Izzy. They also help in hospitals around the world with Sensely and Florence.
The fastest-growing segment in the forecast period is expected to be smart speakers. They use automatic speech recognition technology. This technology is used most commonly for medical counseling and as a therapist to patients suffering from depression or loneliness. These speakers recognize speech automatically and take the appropriate actions.
Technology Insights
Automatic Speech Recognition (ASR), is expected to show the highest CAGR over the forecast period. It can be used to identify letters and words, as well as to verify a person's identity. The segment is seeing a rise in the use of chatbots and smart speakers for medical counseling by various therapists to improve patient engagement. In 2017, the market share for health intelligent virtual assistants was led by the text-to-speech segment.
It allows computers to understand human speech, convert audio or voice into written text and translate it into written text. Virtual assistants are useful because of technological developments in the fields of neuro-linguistic programming and conversation interface. Virtual assistants are made possible by top companies like Amazon, Apple, Google. These companies offer products that act as intermediaries between customers and enterprises.
End-user insights
Payers provide services and improve interoperability through the preservation and protection of patient records. They provide enrollment guidance, billing and collection, wellness assessments, billing, collections, plan selection and billing. The segment of the payer is expected to see a notable CAGR during the forecast period.
In 2017, the provider segment held the largest market share. They assist in many services, including scheduling and confirming appointments, reminding patients of their appointments, following up with patients and sharing a medical diagnosis with them.
Regional Insights
North America held the largest market share in 2017, due to its high adoption of IoT technology and wide use of smartphones. The shortfall of clinicians/physicians and the requirement of an aggressive healthcare facility due to the rising population in countries such as the U.S. is anticipated to drive the regional market.
China and India are taking active measures to implement MVAs in the healthcare sector. The region is experiencing an increase in population and a shortage of qualified physicians and therapists, which has fueled the demand for virtual assistants. These factors will drive APAC to experience the greatest growth over the forecast period.
Market Share Insights & Key Companies
There are several key players in the market: Nuance Communications, Inc., CodeBaby Corporation, eGain Corporation, Kognito, Microsoft Corporation, MedRespond, CSS Corporation, Next IT Corporation, True Image Interactive, Inc. The development of AI-powered IVAs has proven that they can provide services across all sectors of healthcare.
Companies are creating products that allow an app or device to act as an AI agent. These virtual assistants can provide a humanistic conversation to customers and help hospitals, pharmacies and other related areas handle more customers and deliver a better user experience. Most of these companies have adopted strategic alliances and M&A as their key strategies. In September 2018, Epic Systems Corporation and Nuance Communications, Inc. collaborated on voice assistant technology.
Health Intelligent Virtual Assistant Market Report Scope
Report Attribute |
More Details |
2020 market size |
USD 709.3 Million |
The revenue forecast for 2025 |
USD 2957.6 Million |
Growth Rate |
CAGR of 39.1% between 2018 and 2025 |
Base year for estimation |
2017 |
Historical data |
2015 - 2017 |
Forecast period |
2018 - 2025 |
Quantitative units |
Revenues in USD Millions/Billion and CAGR between 2018-2025 |
Report coverage |
Forecast revenue, company ranking and competitive landscape, growth factors and trends |
Segments covered |
Technology, product, end-user, and region |
Regional scope |
North America; Europe, Asia Pacific; Latin America. Middle East & Africa |
Country coverage |
U.S.; Canada; Mexico; U.K.; Germany; China; India; Japan; Brazil |
Key companies profiled |
Nuance Communications, Inc. CodeBaby Corporation, eGain Corporation, Kognito, Microsoft Corporation, MedRespond, CSS Corporation, Next IT Corporation, True Image Interactive, Inc. |
The scope of customization |
With purchase, you get free report customization (equivalent to up to 8 analysts working day) You can add or modify country, region and segment scope. |
Prices and purchase options |
You can get customized purchase options that meet your research needs. Explore your purchase options |
The Report Covers Certain Segments
This report predicts revenue growth at the global, regional, or country level and analyzes the industry trends for each sub-segment from 2015 to 2025. Grand View Research segmented this report on the global health intelligent assistant market based on product, technology, region, and end-user.
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Products Outlook (Revenue USD Million, 2015-2025)
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Chatbots
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Smart Speakers
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Technology Outlook (Revenue USD Million, 2015-2025)
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Automatic Speech Recognition (ASR).
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Text to Speech
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Text-based
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End-user Outlook (Revenue USD Million, 2015-2025)
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Payers
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Providers
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Other
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Regional Outlook (Revenue USD Million, 2015-2025)
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North America
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The U.S.
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Canada
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Europe
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U.K.
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Germany
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Asia Pacific
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China
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India
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Japan
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Latin America
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Brazil
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Mexico
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Middle East & Africa
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These are the most frequently asked questions about this report
What is the market for health-intelligent virtual assistants?b. Global market for health intelligent virtual assistants was valued at USD 461.5 Million in 2019, and is forecast to grow to USD 709.3 Million in 2020.
What is the market growth for health-intelligent virtual assistants?b. Global health intelligent virtual assistant market will grow at a compound annual rate of 39.1% between 2018 and 2025, to reach USD 2,957.6 millions by 2025.
Which market segment had the largest share of health-intelligent virtual assistants?b. With a 74% share in 2017, the chatbots segment dominated health intelligent virtual assistant markets. This can be attributed to the high demand for chatbots in the healthcare sector, where they assist doctors, nurses and patients at different levels using text/speech/audio.
Who are the major players in the market for health-intelligent virtual assistants?b. Nuance Communications, Inc., CodeBaby Corporation, eGain Corporation, Kognito, Microsoft Corporation, MedRespond, CSS Corporation, Next IT Corporation, True Image Interactive, Inc., and Welltok, Inc. are some of the key players in the market for health intelligent virtual assistants.
What are the driving factors for the market for health-intelligent virtual assistants?b. Market growth is being driven by two key factors: increasing use of AI in healthcare applications, and an increased emphasis on patient engagement.
Up Market Research published a new report titled “Health Intelligent Virtual Assistant Market research report which is segmented by Technology (Text to Speech, ASR), by Product (Smart Speakers, Chatbots), By Players/Companies Inc; CodeBaby Corporation; eGain Corporation; Kognito; Microsoft Corporation; MedRespond; CSS Corporation; Next IT Corporation; True Image Interactive, Nuance Communications, Inc, Inc; and Welltok”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Scope
Report Attributes | Report Details |
Report Title | Health Intelligent Virtual Assistant Market Research Report |
By Technology | Text to Speech, ASR |
By Product | Smart Speakers, Chatbots |
By Companies | Inc; CodeBaby Corporation; eGain Corporation; Kognito; Microsoft Corporation; MedRespond; CSS Corporation; Next IT Corporation; True Image Interactive, Nuance Communications, Inc, Inc; and Welltok |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 241 |
Number of Tables & Figures | 169 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
Global Health Intelligent Virtual Assistant Market Report Segments:
The market is segmented by Technology (Text to Speech, ASR), by Product (Smart Speakers, Chatbots).
Health Intelligent Virtual Assistant Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Health Intelligent Virtual Assistant Market
Overview of the regional outlook of the Health Intelligent Virtual Assistant Market:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
Highlights of The Health Intelligent Virtual Assistant Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Health Intelligent Virtual Assistant Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
1. Text to Speech
2. ASR
7. By Product:1. Smart Speakers
2. Chatbots
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Health Intelligent Virtual Assistant Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
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Reasons to Purchase the Health Intelligent Virtual Assistant Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Health Intelligent Virtual Assistant Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Health Intelligent Virtual Assistant Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Health Intelligent Virtual Assistant Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Health Intelligent Virtual Assistant Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Health Intelligent Virtual Assistant Market Size & Forecast, 2018-2028
4.5.1 Health Intelligent Virtual Assistant Market Size and Y-o-Y Growth
4.5.2 Health Intelligent Virtual Assistant Market Absolute $ Opportunity
Chapter 5 Global Health Intelligent Virtual Assistant Market Analysis and Forecast by Technology
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Technology
5.1.2 Basis Point Share (BPS) Analysis by Technology
5.1.3 Absolute $ Opportunity Assessment by Technology
5.2 Health Intelligent Virtual Assistant Market Size Forecast by Technology
5.2.1 Text to Speech
5.2.2 ASR
5.3 Market Attractiveness Analysis by Technology
Chapter 6 Global Health Intelligent Virtual Assistant Market Analysis and Forecast by Product
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Product
6.1.2 Basis Point Share (BPS) Analysis by Product
6.1.3 Absolute $ Opportunity Assessment by Product
6.2 Health Intelligent Virtual Assistant Market Size Forecast by Product
6.2.1 Smart Speakers
6.2.2 Chatbots
6.3 Market Attractiveness Analysis by Product
Chapter 7 Global Health Intelligent Virtual Assistant Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Health Intelligent Virtual Assistant Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Health Intelligent Virtual Assistant Analysis and Forecast
9.1 Introduction
9.2 North America Health Intelligent Virtual Assistant Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Health Intelligent Virtual Assistant Market Size Forecast by Technology
9.6.1 Text to Speech
9.6.2 ASR
9.7 Basis Point Share (BPS) Analysis by Technology
9.8 Absolute $ Opportunity Assessment by Technology
9.9 Market Attractiveness Analysis by Technology
9.10 North America Health Intelligent Virtual Assistant Market Size Forecast by Product
9.10.1 Smart Speakers
9.10.2 Chatbots
9.11 Basis Point Share (BPS) Analysis by Product
9.12 Absolute $ Opportunity Assessment by Product
9.13 Market Attractiveness Analysis by Product
Chapter 10 Europe Health Intelligent Virtual Assistant Analysis and Forecast
10.1 Introduction
10.2 Europe Health Intelligent Virtual Assistant Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Health Intelligent Virtual Assistant Market Size Forecast by Technology
10.6.1 Text to Speech
10.6.2 ASR
10.7 Basis Point Share (BPS) Analysis by Technology
10.8 Absolute $ Opportunity Assessment by Technology
10.9 Market Attractiveness Analysis by Technology
10.10 Europe Health Intelligent Virtual Assistant Market Size Forecast by Product
10.10.1 Smart Speakers
10.10.2 Chatbots
10.11 Basis Point Share (BPS) Analysis by Product
10.12 Absolute $ Opportunity Assessment by Product
10.13 Market Attractiveness Analysis by Product
Chapter 11 Asia Pacific Health Intelligent Virtual Assistant Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Health Intelligent Virtual Assistant Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Health Intelligent Virtual Assistant Market Size Forecast by Technology
11.6.1 Text to Speech
11.6.2 ASR
11.7 Basis Point Share (BPS) Analysis by Technology
11.8 Absolute $ Opportunity Assessment by Technology
11.9 Market Attractiveness Analysis by Technology
11.10 Asia Pacific Health Intelligent Virtual Assistant Market Size Forecast by Product
11.10.1 Smart Speakers
11.10.2 Chatbots
11.11 Basis Point Share (BPS) Analysis by Product
11.12 Absolute $ Opportunity Assessment by Product
11.13 Market Attractiveness Analysis by Product
Chapter 12 Latin America Health Intelligent Virtual Assistant Analysis and Forecast
12.1 Introduction
12.2 Latin America Health Intelligent Virtual Assistant Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Health Intelligent Virtual Assistant Market Size Forecast by Technology
12.6.1 Text to Speech
12.6.2 ASR
12.7 Basis Point Share (BPS) Analysis by Technology
12.8 Absolute $ Opportunity Assessment by Technology
12.9 Market Attractiveness Analysis by Technology
12.10 Latin America Health Intelligent Virtual Assistant Market Size Forecast by Product
12.10.1 Smart Speakers
12.10.2 Chatbots
12.11 Basis Point Share (BPS) Analysis by Product
12.12 Absolute $ Opportunity Assessment by Product
12.13 Market Attractiveness Analysis by Product
Chapter 13 Middle East & Africa (MEA) Health Intelligent Virtual Assistant Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Health Intelligent Virtual Assistant Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Health Intelligent Virtual Assistant Market Size Forecast by Technology
13.6.1 Text to Speech
13.6.2 ASR
13.7 Basis Point Share (BPS) Analysis by Technology
13.8 Absolute $ Opportunity Assessment by Technology
13.9 Market Attractiveness Analysis by Technology
13.10 Middle East & Africa (MEA) Health Intelligent Virtual Assistant Market Size Forecast by Product
13.10.1 Smart Speakers
13.10.2 Chatbots
13.11 Basis Point Share (BPS) Analysis by Product
13.12 Absolute $ Opportunity Assessment by Product
13.13 Market Attractiveness Analysis by Product
Chapter 14 Competition Landscape
14.1 Health Intelligent Virtual Assistant Market: Competitive Dashboard
14.2 Global Health Intelligent Virtual Assistant Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Inc; CodeBaby Corporation; eGain Corporation; Kognito; Microsoft Corporation; MedRespond; CSS Corporation; Next IT Corporation; True Image Interactive
14.3.2 Nuance Communications
14.3.3 Inc
14.3.4 Inc; and Welltok