Health Intelligent Virtual Assistant Market Regional Analysis, Segmentations & Key Applications, 2025

Felton, Calif., USA, Oct. 27, 2020 — /EPR Network/ —

The global Health Intelligent Virtual Assistant Market research report provides complete insights on industry scope, global trends, regional estimates, key application, competitive landscape, and financial performance of prominent players. It also offers ready, data-driven answers to several industry-level questions. This study enables numerous opportunities for market players to invest in research and development.

Market Overview:

The global health intelligent virtual assistant market size was accounted for USD 186.3 million, in 2017 and it is projected to touch USD 2.95 billion by the end of 2025, as per the report released by Million Insights. It is anticipated to ascend with a CAGR of 39.1% from 2018 to 2025. 

Competitive Landscape: 

The key players of the market are Microsoft Corporation; EGain Corporation; Welltok, Inc.; Kognito; True Image Interactive, Inc.; Nuance Communications, Inc.; CSS Corporation; Next IT Corporation; CodeBaby Corporation; and MedRespond. Introduction of AI-supported IVAs for expert conversations are preferred as they offer enhanced services and other business supports to the healthcare industry.

Leading players are introducing products that use equipment or an app to work as AI assistance. These virtual agents offer humanistic conversation to customers and they support pharmacies, hospitals, and other such industries in managing more customers while offering improved services. 

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Growth Drivers: 

Factors such as technological advancement and increasing emphasis on patient engagement are projected to bode well for the market growth over the forecast years. Increasing penetration of IoT and growing preference for AI in the healthcare segment are further predicted to fuel the product demand in the upcoming years.

Moreover increasing use of medical virtual assistance (MVAs), enhanced features provided by health intelligent virtual assistant, changing lifestyle, and growing health consciousness are projected to fuel the market growth over the estimated period. Increasing preference for AI and ML in healthcare applications and growing focus on patient engagement are further expected to drive the market growth from 2018 to 2025.

Technology Outlook: 

  • Automatic Speech Recognition
  • Text to Speech
  • Text based 

Regional Insight: 

North America occupied the largest market share in 2017due to extensive preference for IoT and increasing smartphone users. Less number of physicians/clinicians and the need for an effective healthcare facility owing to the increasing population in nations such as the U.S. is predicted to bode well for the market growth in the upcoming years.

Emerging economies such as India and China are taking several measures to incorporate MVAs in the healthcare industry. Growing population and shortage of skilled therapists and physicians are boosting the support for virtual assistance in the industry. Such factors are anticipated to proliferate the growth in the APAC region over the estimated years.

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