Global Digital Assistant in Healthcare Market Size, Share, Forecast Report, 2020-2027

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The global digital assistant in healthcare market is growing at a significant CAGR of around 35.0% during the forecast period (2020-2026). The digital technology is rapidly expanding in healthcare sector, encouraging the replacement of human physicians with AI technology-based doctors in future. The digital assistant in healthcare solution enables doctors in various pre-clinical decisions making and detect various diseases at early stage. The AI technology aids in extracting useful information from patients and assist through real-time inferences for predicting health risk alert and health outcomes. Solutions such as remote patient monitoring and patient tracking are significantly driving the market growth across the globe. Remote healthcare monitoring is an emerging research field, owing to the rapid movement of the globe towards remote monitoring processes, real-time processing, and fast detection of illnesses.



Moreover, there are several pivotal factors that are driving the global digital assistant in healthcare market, which includes constant innovation and advancements in technology linked with healthcare sector. Along with this, increasing demand for multi-language support with significant penetration in emerging economies, such as China and Brazil, is further offering growth to the global market. According to the World Bank, the country spends and invests approximately 9% of its GDP annually on healthcare, making Brazilian Healthcare Sector one of the largest and fastest growing markets in the world. With such a good spending and investment rates by Brazilians in healthcare sector, penetration of technologies such as digital assistant in healthcare sector may gain traction in coming future. However, the concerns related to data privacy will affect the market growth during the forecast period. For instance, in 2018, UnityPoint Health notified 1.4 million patients about their data breach due to phishing attack. This is considered as biggest data breach case in healthcare sector in 2018. Such similar attacks can certainly derail the digital assistant in healthcare market growth across the globe.



Segmental Outlook



The digital assistant in healthcare market is classified on the basis of product and application. Based on product, the market is bifurcated into smart speakers and chatbots. Based on application, the market is segregated into diagnosis, virtual nursing assistance, patient tracking, drug dosage, and others.



Global digital assistant in healthcare market is driven by its rising application in virtual nursing assistance



Digital assistant in healthcare market is estimated to project a considerable CAGR during the forecast period, backed by its rising application in virtual nursing assistance. Virtual nursing assistance acts as a vocal assistant for an individual and assist in the necessary treatment procedures. The technology is constantly assisting doctors in making suitable decisions, based on the predictions made prior to the development of the disease. It has an ability of answering questions asked by the patients regarding the unforeseen circumstances, such as sudden rise in blood pressure. Medwhat.com, Inc. offers a software �AI Personal Medical Assistant', a platform that answers medical questions and consumer health through personalizing the answers with the use of EMR (Electronic Medical Record) of the user.



Regional Outlook



The global digital assistant in healthcare market is classified on the basis of geography, which includes North America, Europe, Asia-Pacific, and Rest of the World. North America holds a significant share in the global digital assistant in healthcare market. The US plays the critical role in geographic contribution of North America in global digital assistant in healthcare market, attributing to the well-developed healthcare infrastructure and the adoption of advanced technologies. The US spends almost 17.7% of GDP on the healthcare expenditure, as per the US Centers for Medicare & Medicaid Services. The major factors that are driving the US market includes rising healthcare spending and R&D investments. The changing lifestyle further plays a significant role in increasing the possibilities of diseases such as cancer, backed by the inadequate diet, consumption of alcohol and smoking.



Asia-Pacific is expected to propel with a considerable growth rate in the global market



Asia-Pacific is estimated to project a considerable CAGR in the global digital assistant in healthcare market. Countries in Asia-Pacific that are contributing to the market growth include China, India, and Japan. Increasing demand for integrated healthcare system and growing investment from healthcare IT companies as well as increasing geriatric population pool serve as the motivating factors for the growth of the market in the Asia-Pacific region. The other key factors that are driving the growth of this market are the increasing government initiatives such as the use of cheaper generic drugs, self-management of chronic diseases and preventive care to control health care expenditures. This is creating new markets for strengthening R&D capacity, providing market access to foreign companies and encouraging regional companies to become global players.



Market Players Outlook



The key players in the digital assistant in healthcare market are contributing significantly by providing advanced technology-based products and through expanding their geographical presence across the globe. The key players operating in the global digital assistant in healthcare market include Amazon Web Services, Inc., Microsoft Corp., IBM Corp., Cisco Systems, Inc., Nuance Communications, Inc., Babylon Healthcare Services Ltd., and Next IT Corp. These market players adopt various strategies such as product launch, partnerships, collaborations, merger, and acquisitions to sustain a strong position in the market.