In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Healthcare Chatbots Market Report
The healthcare chatbots market by revenue is expected to grow at a CAGR of 27.17% during the period 2020–2026.
The healthcare industry is adopting chatbots to automate repetitive tasks and save costs and resources. The chatbot designing and the development processes based on the best practice will help the healthcare industry achieve the targeted goals and offer the full potential services. Several industries are exploring the bigger advantages that chatbots can provide to their businesses. In this context, AI-driven bots are widely popularized in different sectors. The high acceptance of Artificial intelligence-based bots that transform the customer experience by delivering more personalized services boosts the market growth.
The following factors are likely to contribute to the growth of the healthcare chatbots market during the forecast period: • High Demand for Mobile Health Applications • Favorable initiatives to boost the Acceptance of Chatbots for Healthcare Services • Increasing Need for Virtual Assistance in Healthcare Industry • Rising Demand For AI-Based Chatbots to Deliver Superior Customer Experience
HEALTHCARE CHATBOTS MARKET SEGMENTATION The global healthcare chatbots market research report includes a detailed segmentation by end-users, mode of delivery, component, application, geography. Healthcare providers are the dominant users. Hospitals are the major revenue contributors among all healthcare providers. It is estimated that a nearly 50% reduction in the cost of treatment and 30-40% improvement in outcomes can be achieved through the AI-driven bots in the hospitals, according to Frost & Sullivan.
The growing trend of adopting cloud-based software is gaining high traction in the global healthcare chatbots market. Cloud-based technologies play a significant role in positioning healthcare in the digital landscape and are increasing the adoption of healthcare bots. The adoption rate of cloud-based technology is high compared to on-premise. Cloud-based solutions simplify the healthcare chatbot’s development process and offer integration with multiple channels with flexibility in services and data storage capabilities.
The software services segment will dominate the global healthcare chatbots market by component. APAC, Europe, and North America are the top contributor in the software services market. The AI software-based bots have the potential not only to understand the patients’ intent, no matter how the questions are phrased but also to have far more potential to deliver accurate answers.
Mediktor is the world’s most advanced and accurate symptom checker for pre-diagnosis and decision-making support. It is an AI-based solution that users can easily interact with the chatbots describing their symptoms in the natural language. The chatbots in healthcare are developed with huge capabilities to offer services to the patients in appointment scheduling. Patients can also get medical guidance at the same time.
INSIGHTS BY GEOGRAPHY North America is the major revenue contributor to the healthcare chatbots market and offers significant growth opportunities for both the local and global players. The high penetration of telehealth services in the entire North American region is beneficial and has the huge potential in promoting the upcoming growth in the industry. The favorable initiatives by the government in supporting digital health and are expected to increase the adoption of healthcare bots across North America.
Geography • North America o US o Canada • Europe o UK o France o Germany o Italy o Spain o Netherlands • APAC o Japan o China o Australia o South Korea o India • Latin America o Brazil o Mexico o Argentina • Middle East & Africa o South Africa o Saudi Arabia o UAE o Turkey o Israel
COMPETITIVE LANDSCAPE The global market is gaining attention with the widely popularized regional and global players offering chatbot services in the healthcare industry. Several countries across the globe are increasing and focusing on the adoption of healthcare chatbots, which is expected to give a significant rise to the entry of new players. The market is highly competitive as the existing players offer similar solutions at substantially low prices without any service differentiation to end-users. Ada Health, Babylon, Baidu, Buoy Health, GYANT, HealthTap, Infermedica, PACT Care, Sensely, and Your.MD. are the key players in the healthcare chatbots market.
Key Vendors: • Ada Health • Buoy Health • Babylon • Baidu Health • GYANT • HealthTap • Infermedica • PACT Care • Sensely • Your.MD
KEY QUESTIONS ANSWERED: 1. How big is the healthcare chatbot market? 2. What is the growth rate of the healthcare chatbot market? 3. Who are the major players in the chatbots healthcare industry? 4. Which region is likely to lead the global Healthcare Chatbots Market? 5. What are the advancements in the healthcare chatbot industry?
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