Voice Technology in Healthcare Market Size, Share, Analysis, Trends, Growth, 2032

Voice Technology in Healthcare Industry Prospective:

The global voice technology in healthcare market size was worth around USD 4.3 billion in 2023 and is predicted to grow to around USD 21.4 billion by 2032, with a compound annual growth rate (CAGR) of roughly 19.5% between 2024 and 2032. 

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Voice Technology in Healthcare Market: Overview

Voice technology in healthcare refers to using voice-enabled technologies, such as speech recognition software, natural language processing (NLP) tools, and voice assistants driven by artificial intelligence (AI), to improve patient care, documentation, and communication. Clinical decision-making is supported, workflow efficiency is increased, patient engagement is improved, and hands-free operation is made possible by this technology. The voice technology in healthcare industry is influenced by several variables, which include the rising adoption of AI & NLP in healthcare, increasing physician burnout & need for workflow automation, growing telehealth & remote patient monitoring, and others.

Key Insights

• As per the analysis shared by our research analyst, the global voice technology in healthcare market is estimated to grow annually at a CAGR of around 19.5% over the forecast period (2024-2032).
• In terms of revenue, the global voice technology in healthcare market size was valued at around USD 4.3 billion in 2023 and is projected to reach USD 21.4 billion by 2032.
• The increasing prevalence of chronic disease is expected to drive the voice technology in healthcare market over the forecast period.
• Based on the application, the aging/lifestyle communication segment is expected to hold the largest market share over the forecast period.
• Based on the end-user, the patient segment is expected to dominate the market expansion over the projected period.
• Based on region, North America is expected to dominate the market during the forecast period.

Voice Technology in Healthcare Market: Growth Drivers

Integration with EHR drives market growth

Medical personnel are using voice-activated devices more and more to speed up documentation processes, save data entry time, and improve patient record accuracy. Due to this interface, which streamlines clinical procedures and reduces administrative tasks, doctors may update patient data, get information, and keep records hands-free.

As electronic health record (EHR) systems advance, the use of voice recognition technology is expected to rise as it provides medical practitioners with a more user-friendly and efficient approach to managing patient data. Thus, voice technologies in healthcare market are expanding.

Voice Technology in Healthcare Market: Restraints

Data privacy and security concerns hinder market growth

Since speech-enabled devices handle sensitive patient data, data privacy and security are significant issues in the healthcare voice technology market. Maintaining data security while guaranteeing adherence to healthcare laws is still of utmost importance. Voice technology interacts with telehealth platforms and Electronic Health Records (EHR), resulting in several points of risk.

Patient data may be vulnerable to external threats due to poorly secured integrations. Additionally, patient trust is impacted by questions regarding voice recordings' storage and access. Widespread use of AI-driven voice assistants is discouraged by their opaque data usage policies.

Voice Technology in Healthcare Market: Opportunities

Increasing collaboration offers a lucrative opportunity for market growth

The increasing collaboration is expected to offer a lucrative opportunity for voice technology in healthcare industry over the forecast period. For instance, in July 2024, Utah Navajo Health System (UNHS), CenterPlace Health, Access Health Louisiana, and PrimeCare Health are among the Federally Qualified Health Centers (FQHCs) and Community Health Centers that have partnered with Suki, the leader in voice artificial intelligence (AI) technology for healthcare, to help providers handle the large number of patients seeking high-quality care in underserved areas.

Voice Technology in Healthcare Market: Challenges

High implementation and maintenance cost poses a major challenge to market expansion

One of the biggest obstacles to the widespread use of voice technology in the healthcare sector, especially among smaller healthcare providers, is the high cost of implementation and upkeep. These costs come from hardware, software, integration, and ongoing system management. It is essential to make significant investments in top-notch machine learning (ML) and natural language processing (NLP) techniques.

Additionally, integrating speech technology with Electronic Health Records (EHRs), telemedicine platforms, and hospital management systems requires customization, which drives up costs.

Voice Technology in Healthcare Market: Report Scope

Voice Technology in Healthcare Market: Segmentation

The global voice technology in healthcare industry is segmented based on application, end user, and region.

Based on the application, the global voice technology in healthcare market is bifurcated into aging/lifestyle communication, patient-provider communication, physician notes, speech & hearing difficulty, development platforms, vocal biomarkers, and others. The aging/lifestyle communication segment is expected to hold the largest market share over the forecast period. The market for speech technology in healthcare is expanding rapidly due to the growing demand for lifestyle communication solutions and assistance for the older population. Revenue is increasing as a result of improved accessibility, patient engagement, and chronic disease management brought about by voice-enabled AI and intelligent healthcare assistants.

Based on the end user, the global voice technology in healthcare industry is bifurcated into patients, physicians, and others. The patient segment is expected to dominate the market expansion over the projected period. The market is benefiting from advancements in voice recognition, natural language processing (NLP), and AI-driven virtual assistants, leading to significant revenue growth.

Voice Technology in Healthcare Market: Regional Analysis

North America dominates the market over the projected period

North America is expected to dominate the global voice technology in healthcare market during the projected period. The regional expansion of the market is driven by advancements in artificial intelligence (AI), increasing adoption of virtual assistants, and a focus on enhancing patient care efficiency.

For instance, businesses such as Suki are developing AI voice assistants to reduce the administrative load on healthcare workers. In October 2024, Suki raised $70 million in a Series D fundraising round, demonstrating the high level of investor confidence in healthcare solutions powered by AI.

Moreover, giants in technology are incorporating healthcare features into consumer electronics. For instance, Apple's 2024 FDA-approved AirPods Pro serve as reasonably priced hearing devices, increasing access to hearing aids. Furthermore, the growing geriatric population and increasing prevalence of chronic disease drive the market growth.

Voice Technology in Healthcare Market: Competitive Analysis

The global voice technology in healthcare market is dominated by players like:

• Nuance Communications
• Amazon Web Services (AWS)
• Microsoft Corporation
• Google LLC
• Apple Inc.
• IBM Corporation
• Cerner Corporation
• Philips Healthcare
• Sensory Inc.
• Kareo
• Speechmatics
• Verint Systems
• iFLYTEK Co. Ltd.
• Orbita Inc.
• Suki AI Inc.

The global voice technology in healthcare market is segmented as follows:

By Application

• Aging/Lifestyle Communication
• Patient-Provider Communication
• Physician Notes, Speech & Hearing Difficulty
• Development Platforms
• Vocal Biomarkers
• Others

By End User

• Patients
• Physicians
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa