Health Intelligent Virtual Assistant Market 2022-2027- 39% growth to originate from North America. Increasing Focus On Digitization In Healthcare to boost market growth- Technavio

NEW YORK, June 5, 2023 /PRNewswire/ — The health intelligent virtual assistant market size is expected to grow by USD 4,396.38 million during 2022-2027, progressing at a CAGR of 39.76% as per the latest Technavio market research report. North America is going to have lucrative growth during the forecast period. About 39% of the market’s overall growth is expected to originate from North America. Due to increased spending on healthcare facilities, the market for health intelligent virtual assistants in North America is anticipated to expand. The Affordable Care Act’s creation of health insurance exchange subsidies and the high spending on major federal healthcare programs like Medicare, Medicaid, CHIP, and the Children’s Health Insurance Program (CHIP) were the main causes of this. For more insights on the market share of various regions- Download sample report in MINUTES

What’s New? –

• Special coverage on the Russia–Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – Buy the report!

Read the 161-page report with TOC on “Health Intelligent Virtual Assistant Market Analysis Report by Technology (Speech recognition, Text-to-speech, and Voice recognition), Product (Chatbots and Smart speakers), and Geography (North America, Europe, APAC, South America, and Middle East and Africa), and the Segment Forecasts,2023-2027″. Gain competitive intelligence about market leaders. Track key industry opportunities, trends and threats. Information on marketing, brand, strategy and market development, sales, and supply functions. https://www.technavio.com/report/report/health-intelligent-virtual-assistant-market-industry-analysis

Health Intelligent Virtual Assistant Market: Market Dynamics

Health Intelligent Virtual Assistant Market: Increasing focus on Digitization in healthcare to drive growth

• The global healthcare sector is undergoing a digital revolution, with the increasing penetration of IT-based processes, which, in turn, is driving the application of health intelligent virtual assistants. Health intelligent virtual assistants offer numerous benefits with the advent of smartphones and the increasing penetration of the Internet across the world. Health intelligent virtual assistants such as chatbots simplify the delivery of healthcare services and also help in easy and secure patient data management. Moreover, it creates new streams of revenue generation for stakeholders. Offering connected healthcare services to patients through digital platforms such as wearable devices and sensors is driving the demand for the adoption of advanced technologies, including health intelligent virtual assistants.
• The transformation of healthcare records from paper-based systems to EHRs is a major development in the digital revolution in healthcare which can be achieved with the help of health intelligent virtual assistants. The rapid increase in the adoption of wearable and IoT devices enables doctors and patients to monitor health and fitness in real-time.
• The increase in digitalization of healthcare has also led to medical tourism, with the help of advanced solutions such as remote monitoring, precision medicine, and digitalized record handling. Medical professionals are using intelligent virtual assistants to offer personalized treatment and diagnostics. The increasing shortage of medical professionals globally is also driving the demand for virtual assistants to assist patients remotely. 

Health Intelligent Virtual Assistant Market: Rising Adoption Of Technology 

• The emergence of COVID-19 fueled major advances in data being utilized to achieve better management of patients in healthcare facilities. Data analytics in healthcare witnessed increased use at other functional levels, especially in operations and finance. Organizations made significant investments in ensuring that hospitals had sufficient resources to properly care for the sudden increase in patient load.
• Public health experts used data to identify severely affected cities, hospital administrators analyzed data to optimize hospital resources, and telehealth leaders used data to identify groups that could greatly benefit from their services. Moreover, newer mutated variants of the SARS-CoV-2 virus, which causes COVID-19, led to an increase in the number of cases in different countries such as India, China, the US, and the UK, due to which healthcare professionals were unable to understand each patient profile to deliver the best treatment possible. Therefore, in the pandemic situation, virtual assistants played an important role in guiding clinicians in decision-making at the point of care. The rising requirement of such digital platforms to assist patients at remote locations during the pandemic was imperative as the increase in disease profiles, and the easy access to patient information online was increasing the need to adopt reliable tools such as chatbots. 

To know about more drivers, trends along with challenges – Download a sample now!

Some of the key Health Intelligent Virtual Assistant Market Players:

The health intelligent virtual assistant market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Ada Health GmbH, Babylon Healthcare Services Ltd., Buoy Health Inc., CodeBaby LLC, CSS Corp, eGain Corp., HealthTap Inc., Infermedica Sp. z o.o., Kognito Solutions LLC, MedRespond, Microsoft Corp., Orbita Inc., PACT Care BV, Sense.ly Corp., True Image Interactive Inc., Verint Systems Inc., Virgin Pulse Inc.

Start for a free trial today on Technavio’s SUBSCRIPTION platform to gain instant access to our 17,000+ market research reports

Health Intelligent Virtual Assistant Market: Segmentation Analysis

This market research report segments the health intelligent virtual assistant market by Technology (Speech recognition, Text-to-speech, and Voice recognition), Product (Chatbots and Smart speakers), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).

The North America region led the health intelligent virtual assistant market in 2023, followed by Europe, APAC, South America, and Middle East and Africa respectively. During the forecast period, the North America region is expected to register the highest incremental growth due to factors such as .

For additional information on the market contribution of each segment – Grab an Exclusive Sample Report

Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

Gain instant access to 17,000+ market research reports

Technavio’s SUBSCRIPTION platform

Related Reports:

The virtual assistant market is estimated to grow at a CAGR of 37.29% between 2022 and 2027. The size of the market is forecast to increase by USD 26,945.07 million. This report extensively covers market segmentation by type (spoken commands and text-to-speech), end-user (automotive, BFSI, government, retail, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa). The demand for enhanced customer service is notably driving the virtual assistant market growth. 

The Virtual Reality (VR) Market in Healthcare market size is estimated to grow at a CAGR of 32.85% between 2022 and 2027. The market size is forecast to increase by USD 9,019.06 million. This virtual reality market in healthcare market report extensively covers market segmentation by component (software and services), end-user (research and diagnostics, hospitals and clinics, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). Growing demand for healthcare services is notably driving the Virtual Reality (VR) in Healthcare Market growth.

Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Technology
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global health intelligent virtual assistant market 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on Global health intelligent virtual assistant market 2017 – 2021 ($ million)

• 4.2 Technology Segment Analysis 2017 – 2021
• Exhibit 19: Historic Market Size – Technology Segment 2017 – 2021 ($ million)

• 4.3 Product Segment Analysis 2017 – 2021
• Exhibit 20: Historic Market Size – Product Segment 2017 – 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 – 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)

• 4.5 Country Segment Analysis 2017 – 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Technology

• 6.1 Market segments 
• Exhibit 30: Chart on Technology – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Technology – Market share 2022-2027 (%)

• 6.2 Comparison by Technology 
• Exhibit 32: Chart on Comparison by Technology
• Exhibit 33: Data Table on Comparison by Technology

• 6.3 Speech recognition – Market size and forecast 2022-2027 
• Exhibit 34: Chart on Speech recognition – Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Speech recognition – Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Speech recognition – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Speech recognition – Year-over-year growth 2022-2027 (%)

• 6.4 Text-to-speech – Market size and forecast 2022-2027
• Exhibit 38: Chart on Text-to-speech – Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Text-to-speech – Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Text-to-speech – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Text-to-speech – Year-over-year growth 2022-2027 (%)

• 6.5 Voice recognition – Market size and forecast 2022-2027 
• Exhibit 42: Chart on Voice recognition – Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Voice recognition – Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Voice recognition – Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Voice recognition – Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Technology 
• Exhibit 46: Market opportunity by Technology ($ million)
• Exhibit 47: Data Table on Market opportunity by Technology ($ million)

7 Market Segmentation by Product

• 7.1 Market segments 
• Exhibit 48: Chart on Product – Market share 2022-2027 (%)
• Exhibit 49: Data Table on Product – Market share 2022-2027 (%)

• 7.2 Comparison by Product 
• Exhibit 50: Chart on Comparison by Product
• Exhibit 51: Data Table on Comparison by Product

• 7.3 Chatbots – Market size and forecast 2022-2027
• Exhibit 52: Chart on Chatbots – Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Chatbots – Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Chatbots – Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Chatbots – Year-over-year growth 2022-2027 (%)

• 7.4 Smart speakers – Market size and forecast 2022-2027
• Exhibit 56: Chart on Smart speakers – Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Smart speakers – Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Smart speakers – Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Smart speakers – Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Product 
• Exhibit 60: Market opportunity by Product ($ million)
• Exhibit 61: Data Table on Market opportunity by Product ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 North America – Market size and forecast 2022-2027
• Exhibit 67: Chart on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027
• Exhibit 71: Chart on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 APAC – Market size and forecast 2022-2027
• Exhibit 75: Chart on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.6 South America – Market size and forecast 2022-2027
• Exhibit 79: Chart on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.8 US – Market size and forecast 2022-2027
• Exhibit 87: Chart on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.9 Germany – Market size and forecast 2022-2027
• Exhibit 91: Chart on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.10 UK – Market size and forecast 2022-2027
• Exhibit 95: Chart on UK – Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on UK – Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on UK – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on UK – Year-over-year growth 2022-2027 (%)

• 9.11 China – Market size and forecast 2022-2027
• Exhibit 99: Chart on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.12 France – Market size and forecast 2022-2027
• Exhibit 103: Chart on France – Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on France – Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on France – Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on France – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ million)
• Exhibit 108: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

11 Vendor Landscape

• 11.2 Vendor landscape 
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 Ada Health GmbH 
• Exhibit 115: Ada Health GmbH – Overview
• Exhibit 116: Ada Health GmbH – Product / Service
• Exhibit 117: Ada Health GmbH – Key offerings

• 12.4 Babylon Healthcare Services Ltd. 
• Exhibit 118: Babylon Healthcare Services Ltd. – Overview
• Exhibit 119: Babylon Healthcare Services Ltd. – Product / Service
• Exhibit 120: Babylon Healthcare Services Ltd. – Key offerings

• 12.5 Buoy Health Inc. 
• Exhibit 121: Buoy Health Inc. – Overview
• Exhibit 122: Buoy Health Inc. – Product / Service
• Exhibit 123: Buoy Health Inc. – Key offerings

• 12.6 CodeBaby LLC 
• Exhibit 124: CodeBaby LLC – Overview
• Exhibit 125: CodeBaby LLC – Product / Service
• Exhibit 126: CodeBaby LLC – Key offerings

• 12.7 CSS Corp. 
• Exhibit 127: CSS Corp. – Overview
• Exhibit 128: CSS Corp. – Product / Service
• Exhibit 129: CSS Corp. – Key offerings

• 12.8 eGain Corp. 
• Exhibit 130: eGain Corp. – Overview
• Exhibit 131: eGain Corp. – Product / Service
• Exhibit 132: eGain Corp. – Key news
• Exhibit 133: eGain Corp. – Key offerings

• 12.9 Infermedica Sp. z o.o. 
• Exhibit 134: Infermedica Sp. z o.o. – Overview
• Exhibit 135: Infermedica Sp. z o.o. – Product / Service
• Exhibit 136: Infermedica Sp. z o.o. – Key offerings

• 12.10 Kognito Solutions LLC 
• Exhibit 137: Kognito Solutions LLC – Overview
• Exhibit 138: Kognito Solutions LLC – Product / Service
• Exhibit 139: Kognito Solutions LLC – Key offerings

• 12.11 MedRespond 
• Exhibit 140: MedRespond – Overview
• Exhibit 141: MedRespond – Product / Service
• Exhibit 142: MedRespond – Key offerings

• 12.12 Microsoft Corp. 
• Exhibit 143: Microsoft Corp. – Overview
• Exhibit 144: Microsoft Corp. – Business segments
• Exhibit 145: Microsoft Corp. – Key news
• Exhibit 146: Microsoft Corp. – Key offerings
• Exhibit 147: Microsoft Corp. – Segment focus

• 12.13 PACT Care BV 
• Exhibit 148: PACT Care BV – Overview
• Exhibit 149: PACT Care BV – Product / Service
• Exhibit 150: PACT Care BV – Key offerings

• 12.14 Sense.ly Corp. 
• Exhibit 151: Sense.ly Corp. – Overview
• Exhibit 152: Sense.ly Corp. – Product / Service
• Exhibit 153: Sense.ly Corp. – Key offerings

• 12.15 True Image Interactive Inc. 
• Exhibit 154: True Image Interactive Inc. – Overview
• Exhibit 155: True Image Interactive Inc. – Product / Service
• Exhibit 156: True Image Interactive Inc. – Key offerings

• 12.16 Verint Systems Inc. 
• Exhibit 157: Verint Systems Inc. – Overview
• Exhibit 158: Verint Systems Inc. – Product / Service
• Exhibit 159: Verint Systems Inc. – Key offerings

• 12.17 Virgin Pulse Inc. 
• Exhibit 160: Virgin Pulse Inc. – Overview
• Exhibit 161: Virgin Pulse Inc. – Product / Service
• Exhibit 162: Virgin Pulse Inc. – Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 163: Inclusions checklist
• Exhibit 164: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 165: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 166: Research methodology
• Exhibit 167: Validation techniques employed for market sizing
• Exhibit 168: Information sources

• 13.5 List of abbreviations 
• Exhibit 169: List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio