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Health Intelligent Virtual Assistant Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2026

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The global health intelligent virtual assistants market is forecasted to value over US$ 3 billion by the end of 2026and record a CAGR of 36.3% during the forecast period of 2019-2026. Intelligent virtual assistants leverage voice recognition, natur
Health Intelligent Virtual Assistant Market Global Trends, Market Share, Industry
Size, Growth, Opportunities, and Market Forecast 2019 to 2026
The global health intelligent virtual assistants market is forecasted to value over US$
3 billion by the end of 2026and record a CAGR of 36.3% during the forecast period
of 2019-2026.
Intelligent virtual assistants leverage voice recognition, natural language processing
and big data to provide robust decision support by seamlessly integrating artificial
intelligence. The ability of such virtual assistants to respond to text and voice
commands fed to mobile healthcare applications ensures greater patient
engagement resulting in effective self-care skills in case of chronic conditions. The
lifestyle disorders and raising awareness on self-monitoring common health
parameters like heart rate, blood pressure, weight etc. are augmenting the adoption
of health intelligent virtual assistants. Increased adoption of Internet of Medical
Things (IoMT) by healthcare providers in order to enhance the patient care by
remote monitoring, timely reminders, fixing appointments, reducing training costs
and overall user experience for both patients and caretakers. Focus on modified
patient service functions to reduce the healthcare expenses is another aspect fuelling
the implementation of health intelligent virtual assistants.
Rapid digital transformation and advancement in technologies enabling patientfriendly healthcare apps, wide use of smartphones and demand for superior ailments
and epidemics management is estimated to further promote the growth of global
health intelligent virtual assistant market.
Global Health Intelligent Virtual Assistant Market Restraints
• Complexity in understanding the user objectives
• Integration challenges related to the vast knowledge base and available health
intelligent virtual assistant products
• Numerous new entrants in the market aiming for quick launch of products with
compromised quality
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Global Health Intelligent Virtual Assistant Market, By Product:
+ Smart Speakers
+Chatbots
Chatbots demonstrated leading position during the last two years as they were
largely implemented by worldwide hospitals to assist healthcare professionals and
patients with audio/text support. However, medical counselling and depression
therapies are widely showing an inclination towards smart speakers to assist patients
with mental health issues and insomnia. Smart speakers segment relies on automatic
speech recognition and is estimated to be the fastest growing as compared to
chatbots in future.
Global Health Intelligent Virtual Assistant Market, By Technology
+ Text to Speech
+ Text Based
+ Automatic Speech Recognition
Text to speech technology is highly penetrated due to complex terminologies
involved in medical communication. The segment has shown considerable growth
over the last few years and currently dominates the global market. However,
Automated Speech Recognition(ASR) is highly capable of streamlining the
communication intense aspects of the overall healthcare industry using an
interactive voice response system. Hence the ASR segment is extremely probable of
demonstrating huge adoption over coming years resulting in a massive CAGR.
Global Health Intelligent Virtual Assistant Market, By End-User
+ Providers
+ Payers
+ Others
Global Health Intelligent Virtual Assistant Market, By Region:
+ Europe
+ North America
+ APAC
+ Latin America
+ Rest of World
North America is estimated to be the largest market share holder followed by
Europe, in terms of revenue due to advanced telecommunication facilities and
government healthcare support penetrating into grass root level. A rise in cardiac
patients, ageing population, increased usage of healthcare apps and improved
healthcare infrastructure in the emerging nations like India, Japan and China is aiding
a wider proliferation of health intelligent virtual assistant market. The APAC region is
forecasted to grow at rapid CAGR during 2019-2026. Middle-East region is to follow
the footprints showing significant growth opportunities in the rest of the world
segment.
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Competitive Landscape:
+ Tier 1 players- established companies in the market with a major market share
+ Tier 2 players
+ Emerging players which are growing rapidly
+ New Entrants
FutureWise Takeaways
+ Growth prospects
+ SWOT analysis
+ Key trends
+ Key data points affecting market growth
Objectives of the Study:
+ To provide an exhaustive analysis on the global health intelligent virtual assistant
market by product, by technology, by end-user and by region
+ To cater comprehensive information on factors impacting market growth (drivers,
restraints, opportunities, and industry-specific restraints)
+ To evaluate and forecast micro-markets and the overall market
+ To predict the market size, in key regions (along with countries)—North America,
Europe, Asia Pacific, Latin America, and the Middle East.
+ To record evaluate and competitive landscape mapping- product launches,
technological advancements, mergers and expansions
+ Profiling of companies to evaluate their market shares, strategies, financials and
core competencies
Inquire further details about this report at: [email protected]
About FutureWise Research:
We specialise in high-growth niche markets, assuring flexibility, agility and
customised solutions for our clients. Through in-depth market insights and
consultancy, we present our clients with the tools they need to be at the forefront of
their industry – a position secured for far more than the near future.
Contact Us:
Company Name: FutureWise Research
Contact Person: Vinay Thaploo
Email: [email protected]
Phone: +44 141 628 9353 / +1 970 279 4295
City: Leeds
Country: United Kingdom
Website: www.futurewiseresearch.com
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