Healthcare chatbots are virtual assistants designed to assist patients in their daily queries. They have been programmed with the assistance of doctors and clinicians to handle basic queries and lower patient volume at hospitals and clinics. The global healthcare chatbots market report by Market Research Future (MRFR) outlines the latest drivers, trends, and challenges to be faced for the players in the coming years.
Global Healthcare Chatbots Market size is anticipated to display a CAGR of 21.10% CAGR during the forecast timespan (2018-2023) to touch USD 316.85 million.
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Major Industry Competitive Outlook
Sensely, Inc. (U.S.), Your.MD (U.K.), Buoy Health, Inc. (U.S.), Infermedica (Poland), PACT Care BV (The Netherlands), HealthTap, Inc. (U.S.), Babylon Health (U.K.), Ada Health GmbH (Germany), Woebot Labs, Inc. (U.S.), and GYANT.COM, Inc. (U.S.) are prominent names in the global healthcare chatbots market.
- Microsoft has made available its Healthcare Bot Service which can be integrated to users of Azure and Teams. The recent software update can link EHRs seamlessly and provide a platform for secure chats.
Healthcare Chatbots Market Segmentation
The global healthcare chatbots market is segmented by deployment, component, application, and end-user.
By deployment, it is segmented into on-premise and cloud based. The on-premise segment held a large market share in 2017 but may lose considerable market share to its counterpart. The cloud-based segment can purportedly attain USD 113.48 million by 2023 due to the technology allowing healthcare chains in scaling their operations at a fractional price.
By component, it is segmented into software and services. The software segment accounted for the larger market share due to the need for fetching patient data in real-time. Constant evolution in techniques of natural language processing (NLP), deep learning, and artificial intelligence (AI) can assist the segment in sustaining its dominant position till 2023.
Appointment scheduling & medical guidance and medical assistance are two major applications of the market. Medical assistance is predicted to be the reigning application till 2023 due to patients requiring the in-built feature as a reminder for taking medicines at the required time. The large geriatric populace can benefit from this development.
By end-user, it is segmented into insurance companies, healthcare providers, patients, and others. Patients are the biggest end-user of the global healthcare chatbots market due to the slew of healthcare mobile applications prioritizing on patient care. Healthcare providers are the second largest end-user in the market with the number expected to grow due to hospital chains relying on automation to keep up with the large patient volume.
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Healthcare Chatbots Market Regional Analysis
The Middle East & Africa (MEA), Asia Pacific (APAC), Europe, and the Americas are the main regions considered during the compilation of the market report.
Europe dominated the global market in 2017 as the best-performing region due to adoption of virtual assistants and adoption of technologically advanced devices and applications. It can touch a valuation of USD 123 million by 2023.
The Americas can experience growth at a rapid rate during the forecast timespan due to considerable investments in artificial intelligence. The region can exhibit a CAGR of 21.46% during the forecast period due to adoption of chatbots and increased funding & assistance provided by governments in the region.
LIST OF TABLES
TABLE 1 LIST OF ASSUMPTIONS
TABLE 2 GLOBAL HEALTHCARE CHATBOTS MARKET, BY COMPONENT, 2015–2023 (USD MILLION)
TABLE 3 GLOBAL HEALTHCARE CHATBOTS MARKET FOR SOFTWARE, BY REGION, 2015–2023 (USD MILLION)
TABLE 4 GLOBAL HEALTHCARE CHATBOTS MARKET FOR SERVICES, BY REGION, 2015–2023 (USD MILLION)
TABLE 5 GLOBAL HEALTHCARE CHATBOTS MARKET, BY DEPLOYMENT, 2015–2023 (USD MILLION)
TABLE 6 GLOBAL HEALTHCARE CHATBOTS MARKET FOR ON-PREMISE, BY REGION, 2015–2023 (USD MILLION)
TABLE 7 GLOBAL HEALTHCARE CHATBOTS MARKET FOR CLOUD-BASED, BY REGION, 2015–2023 (USD MILLION)
TABLE 8 GLOBAL HEALTHCARE CHATBOTS MARKET, BY APPLICATION, 2015–2023 (USD MILLION)
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4 Market Dynamics
4.2.1 Rising Adoption Rate Of Healthcare Apps
4.2.2 Increasing Prevalence Of Chronic Diseases
4.2.3 Lack Of Physicians In The Presence Of Increasing Healthcare Demands
4.2.4 Rise In Healthcare Funding And Company Initiatives To Boost The Use Of Healthcare Chat Bots
4.3.1 Concerns Regarding Data Privacy
4.3.2 Lack Of Awareness And Skilled Healthcare IT Professionals
4.4.1 Need For Healthcare Services In Emerging Economies
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