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Strong Growth Ahead: Digital Assistants In Health care Market Size To Grow At Arecord 28.8% Cagr By 2029
Digital Assistants In Health care
How Big Is the Digital Assistants In Health care Market Size Expected to Be by 2034?
The market size of digital assistants in health care has seen substantial growth in the recent past. The market value is anticipated to escalate from $1.48 billion in 2024 to $1.91 billion in 2025, with a compound annual growth rate (CAGR) of 29.1%. The notable growth during the historic time frame can be tied to the rising requirement for personalized healTH*Care, an upsurge in healTH*Care data, a growing demand for effective healTH*Care services, and factors such as the aging population and the necessity for cutting down healTH*Care costs.
In the coming years, the market size of digital assistants in healTH*Care is predicted to experience massive expansion. It's forecasted to multiply to a value of $5.25 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 28.8%. This growth during the predicted period is likely to result from factors such as increased utilization of electronic health records, broadening of remote patient monitoring, enhancement of patient engagement tools, need for improved operational efficiency, and escalation in managing chronic diseases. Noteworthy trends set to emerge in the forecast period encompasses developments in integrating artificial intelligence, advancements in natural language processing, machine learning algorithms, voice recognition technology, the implementation of augmented reality in the healTH*Care sector, and combination with the internet of medical things (IoMT) alongside real-time data analytics.
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What Are the Emerging Segments Within the Digital Assistants In Health care Market?
The digital assistants in health care market covered in this report is segmented -
1) By Type: Smart Speaker, Chatbot, Other Types
2) By Technology: Artificial Intelligence (AI)-Powered Assistants, Rule-Based Assistants, Natural Language Processing (NLP) Assistants, Machine Learning Assistants, Robotic Process Automation (RPA) Assistants
3) By Application: Diagnosis, Virtual Nursing Assistance, Patient Tracking, Other Applications
4) By End-User: HealTH*Care Providers, HealTH*Care Payers, Patients, Other End Users
Subsegments
1) By Smart Speaker: Voice-activated HealTH*Care Assistants, Speech Recognition Systems for HealTH*Care, Virtual Health Assistants (VHA)
2) By Chatbot: Symptom Checking Chatbots, Patient Support and Engagement Chatbots, Virtual Health Coaching Chatbots, Mental Health Support Chatbots
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What Long-Term Drivers Are Shaping Digital Assistants In Health care Market Trends?
The rising need for individualized healTH*Care services is projected to drive the expansion of the healTH*Care market's digital assistants. Individualized healTH*Care services refer to the medical care tailored to a person's genes, lifestyle, and medical background to ensure precise and efficient treatment. This could incorporate tailored drugs, treatments, diagnostics, and wellness schemes. The surge in individualized healTH*Care is attributed to advancements in genetic research allowing more comprehensive and targeted treatments in accordance with a person's genetic makeup. Digital health assistants enhance the individualized healTH*Care services by providing personalized health data and assistance via AI-powered interactions. This improves patient engagement by automating symptoms assessment and appointment booking, thereby enhancing healTH*Care accessibility and effectiveness. For example, in February 2024, the U.S. FDA approved 26 new tailored drugs according to the Personalized Medicine Coalition (PMC), a nonprofit organization based in the US, indicating a substantial growth from the 12 approvals in 2022. Thus, the escalating demand for individualized healTH*Care services is propelling the expansion of the digital health assistants' market.
Who Are the Top Competitors in Key Digital Assistants In Health care Market Segments?
Major companies operating in the digital assistants in health care market are Amazon.com Inc., Apple Inc., Google LLC, Samsung Electronics Co. Ltd, Microsoft Corporation, IBM Corporation, Siemens Healthineers AG, Koninklijke Philips N.V., GE HealTH*Care Technologies Inc., Babylon Holdings Limited, Verint Systems Inc., eGain Corporation, Suki Inc., Ada Health GmbH, K Health Inc., Infermedica Sp. z o.o, Your.MD Ltd, Fabric Labs Inc., Mediktor, MediSprout
What Trends Are Driving Growth in The Digital Assistants In Health care Market?
Key players in the healTH*Care digital assistants market are prioritizing the development of technologically advanced solutions like AI-integrated mobile applications that boost routine task automation, improve patient care, and aid in clinical decision-making. An AI-powered mobile application operates by leveraging artificial intelligence to offer personalized, effective, and data-focused services, enriching the user experience while assisting with healTH*Care functions like diagnostics, patient engagement, and remote monitoring. For example, Oracle Corporation, an American computer software firm, launched the Oracle Clinical Digital Assistant in July 2024. This mobile solution works with the Oracle health electronic health record (EHR) and utilizes artificial intelligence (AI) and voice technology to automate clinical documentation and streamline workflows, drastically decreasing the administrative workload of doctors. This efficiency allows doctors to devote more time to patients, fostering improved interaction and overall healTH*Care performance.
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Which Regions Are Becoming Hubs for Digital Assistants In Health care Market Innovation?
North America was the largest region in the digital assistants in the healTH*Care market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital assistants in health care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Digital Assistants In Health care Market?
2. What is the CAGR expected in the Digital Assistants In Health care Market?
3. What Are the Key Innovations Transforming the Digital Assistants In Health care Industry?
4. Which Region Is Leading the Digital Assistants In Health care Market?
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