Voice Recognition in Healthcare Market size was valued at USD 5.36 billion in 2024 and is expected to reach USD 56.12 billion by 2037, expanding at around 19.8% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of voice recognition in healthcare is assessed at USD 6.26 billion.
Medical staff spend a huge amount of time inputting data, updating records and writing up patient notes. This is expected to raise the need for streamlining processes and driving efficiency in the healthcare industry, which in turn is predicted to largely drive voice recognition in healthcare market growth. Along with this, increasing investments by healthcare providers in developed and developing nations, and growing number of startups developing voice technology for medical sector are also evaluated to bolster market growth in the forthcoming years. Furthermore, rising use of artificial intelligence and deep learning technologies in the healthcare industry is projected to offer lucrative opportunities to the voice recognition in healthcare market in the near future. It is calculated that AI applications can cut costs by more than USD 100 billion in 2026 in the United States alone. In addition, the AI associated healthcare market is forecasted to grow by a compound annual growth rate of about 40 percent by 2021.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
19.8% |
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Base Year Market Size (2024) |
USD 5.36 billion |
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Forecast Year Market Size (2037) |
USD 56.12 billion |
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Regional Scope |
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The market is segmented by module into automated patient outreach, billing & registration, medical equipment support, patient engagement & lead generation, patient reminder & scheduling, and prescription drug information. Out of these, the patient reminder & scheduling segment is anticipated to hold the largest share in the global voice recognition in healthcare market on account of the growing usage of voice technology to remind elderly patients when it’s time to take their medicines. Apart from these, high focus on preventing deaths occurring from medical non-adherence is also assessed to augment the demand for effective technology for medication reminders. Additionally, on the basis of end user, the physicians segment is predicted to occupy the largest share during the forecast period owing to the increasing utilization of voice assistants by physicians to diagnose patients based on their speech pattern.
Our in-depth analysis of the global market includes the following segments:
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By Module |
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By End User |
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On the basis of geographical analysis, the voice recognition in healthcare market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Asia Pacific industry is estimated to dominate majority revenue share by 2037, led by increasing number of companies developing voice technology for healthcare facilities in the region. In addition, rise in adoption of advanced medical devices in the region is also expected to boost market growth in the region in the coming years. Moreover, the market in North America is assessed to acquire the largest share during the forecast period owing to the high healthcare expenditure, and strong presence of prominent voice recognition in healthcare market players in the region. As per the Centers for Medicare and Medicaid Services, U.S. healthcare spending grew by 4.6 percent in 2019, reaching a value of USD 3.8 trillion. Moreover, as a share of the nation's Gross Domestic Product, health spending accounted for 17.7 percent in the same year.
August 2020- Sonde Health, a leading vocal biomarker technology platform announced that it has acquired NeuroLex Labs, which is a voice enabled survey and data acquisition platform.
March 2019- Canary Speech declared a new patent titled ‘Selecting Speech Features for Building Models For Detecting Medical Conditions (US-2018-0322894-A1)’ for its technology in using voice for detecting medical conditions.
Author Credits: Radhika Pawar
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