Twopip Research

Healthcare Visual Assistants Global Market Report 2024

The healthcare virtual assistants market size has grown exponentially in recent years. It will grow from $1.1 billion in 2023 to $1.56 billion in 2024 at a compound annual growth rate (CAGR) of 41.8%. The historical growth in the industry can be attributed to several factors, including the widespread increase in internet connectivity, a growing adoption of smartphones, a rising demand within the healthcare industry, and an increased utilization of mobile applications. The healthcare virtual assistants market size is expected to see exponential growth in the next few years. It will grow to $6.2 billion in 2028 at a compound annual growth rate (CAGR) of 41.4%. The anticipated growth in the forecast period can be attributed to the growing prevalence of chronic diseases, an increasing demand for teleconsultations, a heightened focus on patient engagement, and a rising burden of lifestyle diseases. Key trends expected in this period include technological advancements, product innovations, strategic partnerships, and increased investments in the healthcare sector.The surge in telehealth services is expected to drive the growth of the healthcare virtual assistant market. Telehealth services involve delivering health-related services and information via digital communication technologies, enabling remote care, advice, education, and monitoring. Healthcare virtual assistants play a crucial role in enhancing telehealth services by providing automated, 24/7 patient support through digital platforms. These virtual assistants facilitate various tasks such as appointment scheduling, symptom checking, medication reminders, and personalized health advice, thereby improving accessibility and efficiency in healthcare delivery. For instance, reports from the Australian Digital Health Agency indicated a significant increase in telehealth services, with over 95,000 practitioners delivering 118.2 million telehealth services to 18 million patients from 2020 to 2022. Additionally, a report by Rock Health highlighted a surge in telemedicine adoption, with 80% of respondents accessing care remotely, up from 72% in 2021. Consequently, the rising adoption of telehealth services is fueling the growth of the healthcare virtual assistant market.Leading companies in the healthcare virtual assistant market are prioritizing the development of innovative products equipped with advanced technologies, particularly AI-enabled omnichannel conversational virtual assistants. These virtual assistants leverage artificial intelligence to provide personalized, automated patient support across various communication platforms. For example, TeleVox introduced Iris in April 2023, an AI-driven virtual agent capable of engaging in natural language conversations with patients. Unlike basic chatbots, Iris utilizes advanced AI capabilities, including large-scale generative models, to understand a wide range of patient queries and provide immediate, relevant responses. By harnessing the power of AI and omnichannel communication, these virtual assistants offer seamless and efficient patient interactions, ultimately enhancing the overall telehealth experience for both patients and healthcare providers.In June 2021, Elligo Health Research, a prominent US-based research organization, finalized the acquisition of Root Health for an undisclosed sum. This strategic move is intended to optimize clinical research processes and expedite patient recruitment by seamlessly integrating Root Health's innovative AI-driven virtual assistant technologies. Root Health, a dynamic US-based startup renowned for its expertise in AI virtual assistants for clinical research development, adds significant value to Elligo Health Research's mission.Major companies operating in the healthcare visual assistants market report are Amazon.com Inc., Alphabet Inc., Microsoft Corporation, Epic Systems Corporation, Babylon Holdings Limited, Amelia LLC, Medical Information Technology Inc., Lyra Health Inc., Omada Health Inc., Ada Health GmbH, Talkspace, Headspace Inc., eGain Corporation, TytoCare Ltd., Viz.ai Inc., K Health Inc., Haptik Technologies Limited, Akili Inc., Woebot Health, Your.MD Ltd., NOHOLD Inc., Sanvello Health, Oxygen Group of Companies, ScribeEMR Systems Private Limited, Tucuvi Care S.L.North America was the largest region in the healthcare virtual assistant market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare visual assistants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the healthcare visual assistants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.Healthcare virtual assistants are AI-powered digital systems or applications designed to aid patients, healthcare providers, or administrative staff in various healthcare-related tasks and services. These virtual assistants play a significant role in enhancing patient engagement by providing accessible and instant support.The primary product types of healthcare virtual assistants include chatbots and smart speakers. Chatbots can facilitate patient engagement by addressing common queries, scheduling appointments, and providing health information, thereby reducing the workload on human staff. Various technologies, such as automatic speech recognition (ASR), speech recognition, text-based interactions, and text-to-speech capabilities, are employed. These virtual assistants cater to diverse end-users, including healthcare providers, payers, and other stakeholders.The healthcare virtual assistants market research report is one of a series of new reports that provides healthcare virtual assistants market statistics, including natural language processing in the healthcare and life sciences industry global market size, regional shares, competitors with a healthcare virtual assistants market share, detailed healthcare virtual assistants market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare virtual assistants industry. This healthcare virtual assistants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.The healthcare virtual assistant market consists of revenues earned by entities by providing services such as patient scheduling, symptom checking, prescription management, health monitoring, and management. The market value includes the value of related goods sold by the service provider or included within the service offering. The healthcare virtual assistant market also includes sales of smartphones, tablets, smart speaker, and displays. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.This product will be delivered within 3-5 business days.