Healthcare Virtual Assistants Market Research Report and Outlook by 2028

The healthcare virtual assistants market is anticipated to grow significantly, reaching an estimated US$ 5,310.31 million by 2028, up from US$ 684.07 million in 2021. This growth represents a remarkable compound annual growth rate (CAGR) of 34.01% from 2021 to 2028. The surge in demand for healthcare virtual assistants has been notably influenced by the COVID-19 pandemic, alongside the increasing global adoption of smartphones and healthcare-related applications, which collectively drive the market's expansion.

According to a report by the American Health Information Management Association (AHIMA), medical professionals have become a key target for smartphone technologies. For healthcare institutions, such as hospitals, advanced smartphones offer greater convenience and efficiency compared to traditional computing systems. These factors are pivotal in propelling the growth of the healthcare virtual assistants market.

The market for healthcare virtual assistants is categorized based on components and end-users. In terms of components, the market is divided into speech recognition, text-to-speech, and voice recognition. The speech recognition segment is projected to hold the largest market share throughout the period from 2021 to 2028. The healthcare industry is increasingly adopting speech recognition technology to enhance productivity and save time. For instance, this technology eliminates the need for manual transcription of clinicians' notes. Clinicians can simply dictate their notes, and AI-driven software efficiently converts this voice data into valuable electronic health records (EHRs), significantly enhancing the accuracy and quality of clinical documentation. This allows physicians to focus more on patient care rather than being burdened with EHR data entry, thereby driving the growth of the speech recognition segment.

When examining the end-user perspective, the healthcare virtual assistants market is segmented into providers, payers, and others. The providers segment is expected to lead the market during the forecast period. Numerous healthcare providers are leveraging artificial intelligence (AI) for the early and accurate detection of chronic diseases, including cancer. The widespread adoption of AI, coupled with the rise of consumer wearables and other medical devices, is instrumental in promoting healthier lifestyles. Virtual care exemplifies modern healthcare, enhancing access to care for patients while reducing the burden on healthcare facilities. Consequently, the growth of the healthcare virtual assistants market can significantly aid providers in monitoring and managing patient care throughout recovery processes. This can be achieved through follow-ups after hospital visits or surgical procedures, or even by serving as an alternative to in-person care, depending on patient demographics, healthcare organization capabilities, and available resources. Ultimately, this approach enables providers to enhance efficiency by attending to more patients with a higher level of personal engagement in a shorter time frame. These factors collectively support the growth of the providers segment within the market.

In preparing the report on the healthcare virtual assistants market, various primary and secondary sources were consulted, including reputable organizations such as the World Health Organization (WHO), the Korean Association of Medical Journal Editors, the Public Library of Science (PLOS), the American Telemedicine Association (ATA), Harvard Business School Publishing, the American Health Information Management Association (AHIMA), and the National Institutes of Health (NIH).

In conclusion, the healthcare virtual assistants market is poised for substantial growth, driven by technological advancements and the increasing need for efficient healthcare solutions. As healthcare providers continue to embrace AI and virtual care technologies, the market is expected to evolve, offering innovative solutions that enhance patient care and operational efficiency.