14-Feb-2020 | Facts and Factors
Facts and Factors have authored “Healthcare Chatbots Market By Component (Software & Services), By Deployment Mode (On-Premises & Cloud-Based), By Application (Symptom Checking, Medication Assistance, Appointment Scheduling, & Medical Guidance), By End User (Patients, Healthcare Providers, Insurance Companies, & Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026”. Based on our analysis, the global healthcare chatbots market in 2020 is close to USD 197.2 Million and is expected to reach around USD 702.1 Million by 2026. The anticipated CAGR for the global healthcare chatbots market is more than 24.9% from 2021 to 2026.
A chatbot is an AI-powered software adopted by different industries for instant and effective interaction with their clients either in textual or audio format. The industries have included a distinct option on their web portal or mobile application for conversing with clients. Chatbots play a vital role in the healthcare sector to assist the patients instantly in the state of emergency by the time clinicians are available for primary care and diagnosis. Though health bots can’t conduct authorized diagnoses, their AI memory manages to autonomously presume the disease based on certain symptoms.
Browse the full “Healthcare Chatbots Market By Component (Software & Services), By Deployment Mode (On-Premises & Cloud-Based), By Application (Symptom Checking, Medication Assistance, Appointment Scheduling, & Medical Guidance), By End User (Patients, Healthcare Providers, Insurance Companies, & Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026" report at https://www.fnfresearch.com/healthcare-chatbots-market-report
Key Market Drivers:
- A sharp increase in the count of internet users
The global internet users’ count has grown substantially in the past several years. In Nigeria- and Bangladesh-like developing economies, the count of internet users has risen by almost 40,000%. China, being the developed and densely populated country, is leading in terms of the maximum number of internet users. Due to excessive internet use, almost everyone prefers chatbot services for interacting with clinicians, thereby influencing the demand for the global healthcare chatbots market. Other significant factors that drive the global market are:
- Significant incorporation of cloud services in the healthcare sector
- Growing demand for health bots in emergencies
- Growing technology acquaintance related to healthcare
Key Market Restraints:
- Data breach & privacy threats
Although health bots are efficient enough to provide medical records in an instant whenever needed, the platform poses a huge risk regarding data breaches and violates privacy laws. Other factors hampering the global healthcare chatbots market are:
- Tech expertise shortage for the development of such interactive services
- Lack of awareness cum misconceptions regarding the capabilities of chatbots
Cloud-based model category anticipates lucrative growth under deployment model segment
Owing to the growing involvement in the development of chatbots, the revenue share of the cloud-based model category is likely to surge in the global healthcare chatbots market during the forecast period.
“Patients” category under the end-user segment holds the major share in the global healthcare chatbots market
Among insurance companies, patients, and healthcare providers, the “patients” category captured over one-third of the global market share in terms of revenue. The key factor pushing the “patients” category is the growing adoption rate of chatbots among patients.
Key market players
The key market participants for the global healthcare chatbots market are Ada Digital Health Ltd., Ariana, Babylon Healthcare Service Limited, Buoy Health, GYANT.com, Inc., Infermedica S.p.A., Microsoft Corporation, PACT Care B.V., Sense.ly, Inc., Your.MD., Woebot, HealthTap, Inc., Baidu, Inc., and COM, Inc., among others.
In August 2019, Reckitt Benckiser Group PLC, a British multinational company manufacturing healthcare goods the leading global consumer health and hygiene company, announced a partnership as well as its strategic investment in Yours.MD ltd. to launch smart self-care solutions for everyone free of cost.
In August 2018, Buoy Health Inc. and Boston Children's Hospital collaborated to enhance the approach currently used by parents to assess their offspring's health online. As a part of this extensive collaboration contract, the hospital would integrate Buoy’s developed advanced AI health bot into its website.
The global healthcare chatbots market is segmented as:
Global Healthcare Chatbots Market: By Component Segment Analysis
Global Healthcare Chatbots Market: By Deployment Mode Segment Analysis
Global Healthcare Chatbots Market: By Application Segment Analysis
- Symptom Checking
- Medication Assistance
- Appointment Scheduling
- Medical Guidance
Global Healthcare Chatbots Market: By End User Segment Analysis
- Healthcare Providers
- Insurance Companies
Global Healthcare Chatbots Market: Regional Segmentation Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- The Middle-East and Africa
- GCC Countries
- South Africa
- Rest of Middle-East Africa
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