Forecast Period
|
2024-2028
|
Market Size (2022)
|
USD 541.06 Million
|
CAGR (2023-2028)
|
14.32%
|
Fastest Growing Segment
|
Smart Speakers
|
Largest Market
|
North America
|
Market Overview
Global Digital Assistants in Healthcare
Market has valued at USD 541.06 Million in 2022 and is anticipated to project
robust growth in the forecast period with a CAGR of 14.32% through 2028. Digital
assistance in healthcare refers to the provision of healthcare services through
remote monitoring and virtual interaction with patients. Digital assistants in
healthcare refer to virtual or digital tools that use artificial intelligence
(AI) and natural language processing (NLP) technologies to interact with
patients, healthcare professionals, and other stakeholders in the healthcare
ecosystem. These services encompass connecting with patients at their homes,
analyzing symptoms through mobile apps, and accessing disease information via
smart speakers. Various digital assistant products, such as smart speakers,
web-based chatbots, and mobile-based chatbots, are available. The benefits of digital
assistants in healthcare include cost-effective treatments, seamless
connectivity between patients and healthcare professionals, patient data
monitoring, and efficient scheduling of patient appointments, resulting in time
savings for both patients and physicians.
Key Market Drivers
Increased
Demand for Home-Based Monitoring Devices
The increased demand for home-based
monitoring devices is closely linked to the growth of digital assistance in
healthcare. These two trends are interconnected and synergistic, with each
driving and reinforcing the other. Home-based monitoring devices, such as
wearable fitness trackers, smart scales, blood pressure monitors, and glucose
meters, collect real-time health data from patients. Digital assistants can
seamlessly integrate with these devices to collect, analyze, and interpret the
data, providing patients with instant feedback and insights about their health
status. Digital assistants can leverage the data collected by home-based
monitoring devices to provide personalized health insights and recommendations.
For example, if a patient's blood pressure readings are consistently high, the
digital assistant can suggest lifestyle changes, medications, or prompt the patient
to consult their healthcare provider. When home-based monitoring devices detect
abnormal readings or potential health risks, digital assistants can issue
alerts and notifications to both patients and healthcare providers. This timely
communication can facilitate early intervention and prevent health
complications. The combination of home-based monitoring devices and digital
assistants aligns with the trend toward patient-centric care and empowers
individuals to take a more active role in managing their health. This
integrated approach not only improves patient outcomes but also contributes to
the overall transformation of healthcare delivery by enabling more
personalized, convenient, and efficient interactions between patients and
healthcare providers.
Rise in
People with Chronic Health Issues
The rise in individuals with chronic
health conditions and the increased demand for home-based monitoring devices
are among the key drivers of growth in the digital assistant market in
healthcare. The need to manage healthcare expenses effectively has created
promising opportunities for companies operating in the global digital
assistants in healthcare market. In recent years, there has been a significant
increase in the adoption of home-based devices across all age groups. These
devices are compact, portable, and allow for continuous monitoring of patients'
conditions. As a result, the demand for home-based devices has grown,
contributing to the overall growth of the global digital assistants in
healthcare market. The anticipated increase in the older population is expected
to further drive the demand for such devices, thereby supporting market growth.
Increasing
Adoption in Consumer Electronics Sector
Rapid Adoption in the consumer
electronics sector the industry is poised for significant growth due to the
increasing adoption of consumer electronics such as smartphones, smartwatches,
and smart speakers. With customers becoming more reliant on smart devices,
digital assistants have become indispensable for tasks like accessing sports
scores, placing food orders, and managing schedules. In response to the growing
complexity of work, organizations are increasingly relying on intelligent
virtual assistants to efficiently manage workloads and promptly address
customer inquiries. These advanced virtual assistants also facilitate seamless
communication between humans and machines, utilizing voice recognition
technology to convert spoken words and phrases into machine-readable formats.
These factors are expected to drive the market for intelligent virtual
assistants during the projected period. The market expansion is further fueled
by the demand for enhanced efficiency among service-based businesses, which are
integrating AI-powered virtual assistants across a range of devices, including
tablets, desktops, and smartphones.
Increasing
Technological Advancements
The increasing technological
advancements in both software and hardware solutions are driving the growing
demand for mobile health applications in the market. VAS technologies enable
patients to utilize mobile health apps such as Amazon Echo to conveniently
refill prescriptions, schedule appointments, scan health records, and complete
forms in advance. Wearables are gaining popularity for health tracking and
providing emergency alerts as part of virtual assistance. By leveraging
state-of-the-art fitness devices like Fitbit, users can effortlessly monitor
health metrics like heart rate, blood pressure, and weight, with the ability to
access them anytime through an online portal. YugasaBot, an Indian-made
platform for automating healthcare communication over WhatsApp, stands as the
sole virtual assistant dedicated to automated healthcare communication. With
YugasaBot, ASHA workers now have an AI-powered chatbot to assist them in
addressing health-related inquiries and policies for their village residents, as
part of the DIISHA (Digital Innovations Interventions for Sustainable
Healthtech Action) healthcare pilot. Through the implementation of YugasaBot,
ASHAs gain access to answers for their specific policy questions on WhatsApp,
around the clock, in their preferred language.