Health Intelligent Virtual Assistant Market Size, Share and Trends 2024 to 2034

Health Intelligent Virtual Assistant Market Size and Forecast 2024 to 2034

The global health intelligent virtual assistant market size is projected to be worth around USD 4,680.01 million by 2034 from USD 513.91 million in 2024, at a CAGR of 24.72% from 2024 to 2034. The North America health intelligent virtual assistant market size reached USD 160.70 million in 2023. Organizations are also adopting technologies that help ensure a smooth patient experience. These advancements are crucial in enhancing the interaction between professionals and patients.

Health Intelligent Virtual Assistant Market Key Takeaways 

• North America dominated the global health intelligent virtual assistant market with the highest market share of 39% in 2023.
• Asia Pacific is expected to grow at the double digit CAGR of 26.22% during the forecast period. 
• By product, the chatbot segment marked contributed more than 75% of market share in 2023.
• By product, the smart speakers segment is expected to grow at a double digit CAGR of 25.41% during the forecast period.
• By technology, the text-to-speech segment held the largest market share of 55% in 2023.
• By technology, the automatic speech recognition segment is projected to grow at a solid CAGR of 26.02% during the forecast period. 
• By end-user, the providers segment accounted for the largest market share of 56% in 2023.
• By end-user, the payers segment is expected to grow significantly in the market from 2024 to 2034.

U.S. Health Intelligent Virtual Assistant Market Size and Growth 2024 to 2034

The U.S. health intelligent virtual assistant market size was exhibited at USD 120.52 million in 2023 and is projected to be worth around USD 1,395.70 million by 2034, poised to grow at a CAGR of 24.94% from 2024 to 2034.

North America dominated the global health intelligent virtual assistant market in 2023. The growth of the region is attributed to the well-developed healthcare infrastructure in countries like the United States and Canada. This has raised the demand for HIVAs in healthcare settings and health insurance companies, which has created opportunities for providers. Additionally, the governments in the region invest heavily in innovations, which makes them dominant. As a result, it also benefits many IT companies that provide healthcare and digital health services.

• The U.S. government has taken initiatives like the U.S. HITECH ACT 2009, which aims to stimulate the adoption of electronic health records (EHR).

Asia Pacific is expected to grow at the fastest CAGR in the health intelligent virtual assistant market during the forecast period of 2024 to 2034. The growing demand for HIVAs in the region is attributed to the increasing focus on healthcare in countries like Japan and India. The adoption of these technologies will help the Asian market to grow efficiently by enhancing patient engagement.

Asia Pacific is leading in terms of middle-class economies, which increases the demand for personalized services for chronic disease management in the health intelligent virtual assistant market. These economies are also adopting digital health solutions rapidly, which makes them the fastest-growing economies. Governments like China are taking initiatives to improve the overall health of their public.

• Healthy China 2030 is a national strategy to enhance public health through lifestyle promotion, improved services, health protection, and environmental and industry development.

Market Overview

Health intelligent virtual assistant (HIVA) refers to an artificial intelligence (AI) based digital service tool specially designed to assist healthcare professionals and enhance patients' experience in their healthcare-related tasks. The health intelligent virtual assistant market tool are designed by implementing technologies like machine learning (ML), natural language processing (NLP), and data analytics.

HIVA provides personalized services to patients with the help of text or voice, which answers their health-related queries about medical conditions, medications, and treatment plans. The assistant is also capable of scheduling appointments, which smoothens the patient experience by making the whole process easy and simple.

The health intelligent virtual assistant market is gaining significant demand due to the increasing demand for personalized services. The impact of Covid-19 has helped the market to gain more popularity due to the rules and restrictions during that period. It is considered a crucial period for the market as it has raised the demands for digital technologies and solutions in the healthcare sector.

How is AI Revolutionizing the Health Intelligent Virtual Assistant Market?

The emergence of AI and other technologies in the healthcare sector has been playing a vital role in the development of various solutions that are transforming the industry. The implementation of conversational AI in the health intelligent virtual assistant market can bridge the gap between professionals and patients. Technologies like NLP play a crucial role in understanding and responding to patient queries by using natural language, which provides a real human interaction experience for the patient.

AI is capable of analyzing datasets, which would help in providing health advice to the patient based on their medical history and preferences. The ongoing technological advancements in healthcare and the adoption of AI are fueling the market growth. Additionally, emerging technologies in wearable devices help AI track the daily activities of humans, which can help suggest alerts and recommendations. AI has been gaining significant popularity and contributing towards the growth of the health intelligent virtual assistant market as it is a time and cost saver for patients.

• In April 2024, the World Health Organization (WHO) launched S.A.R.A.H, a generative AI health assistant designed to provide information on health-related topics and promote healthy lifestyle habits.

Health Intelligent Virtual Assistant Market Growth Factors

• The increasing demand for healthcare professionals, especially in primary care, has been playing a vital role in the development of the health intelligent virtual assistant market.
• Increasing technological awareness, especially in the low economies, has been a crucial growth factor for the health intelligent virtual assistant market.
• The changing lifestyle dynamics have raised several health conditions among individuals, which stands out as a market growth factor.
• The rising technologies have removed the geographical barriers in healthcare solutions. These advancements are playing a crucial role towards the development of the market.

Market Scope

Market Dynamics

Drivers

Higher healthcare costs

The rising urbanization is a major factor behind the increasing healthcare costs in the major cities. The primary healthcare providers in low economies are bound to reduce operational costs due to low healthcare expenditures. The health intelligent virtual assistant market stands out as an affordable option for people who could get access to health information through the help of these tools, allowing individuals to manage their expenses. Adopting HIVAs can also be beneficial for healthcare providers as the adoption could eliminate frequent and unwanted visits by patients.

Increasing emphasis on chronic disease management

The rising prevalence of chronic diseases like diabetes and respiratory conditions needs constant care and attention, which could be unaffordable for the patients. This increases the demand for the health intelligent virtual assistant market as it could play a vital role in providing remote monitoring, like providing medication reminders to scheduling necessary appointments. As a result, many healthcare providers are adopting these services, which could help engage with customers with the help of AI.

Restraint

Data privacy concerns

The emerging technologies in the health intelligent virtual assistant market have driven growth in the past few years. However, there are still some security concerns related to the data which could potentially hamper the market growth. These virtual health assistants have become commonplace for personal health information (PHI) which could lead to possible threats and frauds in case of any data loss. The emergence of technologies has also increased the number of cyber threats which demands the need for safe data and storing to gain patients' trust.

Opportunities

Rapid digitalization and technology adoption

The increasing use of smart devices and internet penetration in the developing region stands out as an opportunity for the health intelligent virtual assistant market. It increases the reach of virtual assistants, which is anticipated to bring many opportunities to healthcare IT professionals. The adoption of these technologies also helps patients manage their healthcare expenditures, which is expected to drive market growth during the forecast period.

Rising demand for remote healthcare solutions

The hectic work schedules, especially in the urban areas, stand out as a major reason behind the increasing demand for the health intelligent virtual assistant market. People could access these virtual assistants, which could help them in their day-to-day lives by providing 24/7 personalized healthcare services to them.

Product Insights

The chatbot segment marked its dominance by registering the largest share of the health intelligent virtual assistant market in 2023. Chatbots in the market are AI-based conversational agents who interact with users through texts. These chatbots are mainly found on websites and mobile applications. The reason behind the dominance of chatbots is that they offer multiple services to users, such as providing answers to health-related queries, booking appointments, providing alerts, reminders, and many more. The increasing use of smart devices like mobile phones, laptops, and tablets has helped them to establish their user base. Individuals prefer these health-based tools as they are cost-effective, and this also attracts multiple investments for more enhanced services in digital healthcare.

• In April 2024, the Happiest Minds Technologies Generative AI Business Services (GBS) unit launched 'hAPPI,' a GenAI-powered chatbot designed to enhance personalized health and wellness interactions.

The smart speakers segment is expected to grow at the fastest rate in the health intelligent virtual assistant market from 2024 to 2034. These speakers are AI-based virtual assistants that provide health-related information, medication reminders, and alerts through voice integrations. The growing demand for smart speakers lies in the rising trend of voice technology. Many people prefer voice command tools in their daily lives, which can help them with any health-related query in a short time. This allows users to have a hands-free experience in their busy professional schedules. Additionally, the flexible services offered by the speakers are considered to be crucial for the geriatric population.

• In January 2024, a study by Stanford Medicine found that a voice-based AI app used via smart speakers effectively improved blood glucose control in Type 2 diabetes patients by providing real-time insulin dose adjustments without needing frequent doctor visits.

Technology Insights

The text-to-speech segment held the largest share of the health intelligent virtual assistant market in 2023. Text-to-speech (TTS) is a technology that enables written text to be converted into speech. In the health intelligent virtual assistant market, TTS is used to speak health-related information aloud to the users so they can hear the responses and manage their overall health. The impact of various diseases has widely affected human health, which has led to the innovation of these ideas. These technologies are playing a crucial role for people who are visually challenged as they can access information through speech. This mainly includes elderly people who cannot read and hence prefer listening.

The automatic speech recognition segment is expected to register the fastest growth in the health intelligent virtual assistant market during the forecast period of 2024 to 2034. Automatic speech recognition in the market allows computers or assistants to understand the language spoken and convert it into text. It offers a hands-free experience to the users which makes it more preferrable to the users. It is considered to be crucial in voice-controlled interactions for enhancing the user experience. These technologies are driving market growth due to the increasing preference for verbal communication in the healthcare sector.

End user Insights

The providers segment accounted for the largest share of the health intelligent virtual assistant market in 2023. Providers in the market refer to healthcare professionals, clinics, hospitals, and other faculties that work on patient care. They use virtual assistants to enhance operational efficiency by scheduling appointments, following patient diagnoses, and following up with the patients. The adoption of these technologies plays a crucial role in enhancing patient engagement due to the smooth experience provided by the virtual assistant tools. Many healthcare providers are integrating health-intelligent virtual assistants with electronic health records, which is leading to market expansion.

The payers segment is expected to grow significantly in the health intelligent virtual assistant market from 2024 to 2034. Payers in the market refer to the health insurance companies and other organizations that finance healthcare costs. The segment is growing efficiently due to the increasing demand for cost management in these companies, which would also help them detect fraud. Additionally, these companies are adopting HIVAs to enhance their customer service by enabling 24/7 customer support to their clients. These factors are considered to enhance patient reliability and contribute to market growth.

Health Intelligent Virtual Assistant Market Companies

• Microsoft
• CSS Corp
• MEDRESPOND
• Next IT Solutions.
• Nuance Communications, Inc.
• True Image Interactive, Inc.
• Virgin Pulse
• CodeBaby, Inc
• eGain Corporation
• Kognito

Recent Developments

• In June 2024, Oracle announced its new Clinical Digital Assistant, featuring generative AI and voice tools, to streamline clinical documentation and reduce physicians' charting time by up to 40%.
• In May 2024, Fortis Healthcare partnered with United We Care to launch Adayu Mindfulness, an AI-powered mental health service that offers 24/7 virtual assistance and self-assessment tools.
• In March 2024, Openstream.ai secured a patent for multimodal AI-driven digital twin technology, which allows virtual assistants to replicate human experts' knowledge and personas and enhance health-related interactions with expert-level empathy and support.

Segments Covered in the Report

By Product

• Chatbot
• Smart Speakers

By Technology

• Automatic Speech Recognition
• Text-To-Speech
• Text-Based

By End-User

• Payer
• Providers
• Others

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa