Healthcare Chatbots Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Healthcare Chatbots Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : July, 2020 | Healthcare IT | PPT format

Report Digest


Global Healthcare Chatbots Market: Snapshot

Healthcare chatbots are computer programs that help patients with their medical and related queries. This helps in cutting down the burden on the clinical or the medical staff working in a hospital or a healthcare center. This also helps the staff to concentrate more their day to day jobs. Automation of several workflow procedures in the healthcare and medical sector is projected to help the growth of the global healthcare chatbots market over the course of the given forecast period.

Some of the key developments in the global healthcare chatbots market are given below:

  • In July 2017, Baidu, a China based tech giant announced that the company has taken over Kitt.ai, a US based company. This acquisition was completed with an objective of providing developers with a platform to develop efficient and intelligent chatbots using natural language processing (NLP) and artificial intelligence (AI) technology.
  • In January 2018, US based HealthTap Inc., announced that the company has agreed to enter into a strategic partnership with the leading insurance provider Bupa (the UK). This partnership will allow the blend of HealthTap’s flagship Health Operating System HOPES and its AI driven apps and Bupa’s expertise in developing digital environment driven by quality, speed, and convenience. The objective of the partnership is to completely transform the quality of care for their customers.
  • In June 2018, the UK based Bupa, a leading insurance company, announced that it has entered into a strategic alliance with Babylon Inc. to offer AI driven healthcare services for all of its corporate clients.

Global Healthcare Chatbots Market: Overview

The report details an exhaustive account of the global healthcare chatbots market along with numerous associated factors. Some of these factors that are included in the report are drivers, restraints, competitive analysis, latest trends and opportunities, geographical outlook, and many other aspects. The study covered in the report spans a forecast period from 2018 to 2028. From an overall perspective, the report is expected to exist as a valuable insight to businesses which are already operating in the global healthcare chatbots market, as well as for those who intend to newly establish themselves in this environment.

Global Healthcare Chatbots Market: Market Potential

Widespread advancements occurring in the field of artificial intelligence is primarily responsible for driving growth in the global healthcare chatbots market. This is mainly due to the implementation of more sophisticated and mature chatbot processes that are intensely smart to deal with engaging customers who intend to access healthcare services. With a rising demand of automation in healthcare domains, the use of chatbots to achieve online efficiency in terms of dealing with customer enquiries and customer retention is increasing. This is expected to make the global healthcare chatbots market showcase a highly positive growth curve in the near future. Many healthcare organizations businesses are making use of chatbot services in a plethora of ways, thus expanding the boundaries of their capacities and capabilities.

In addition, application of AI in consumer electronics associated with maintaining healthcare has also led towards the creation of a large client base that demands the assistance of technologies like chatbot services.  In recent times, extensive progress in digital technology has made many healthcare organizations start utilizing numerous digital marketing strategies. As voice and messaging services, which are a part of chatbot technology, come under these strategies, the healthcare chatbots market is expected to grow with leaps and bounds in the near future.

Global Healthcare Chatbots Market: Geographic Outlook

This market is mainly spread across North America, Asia Pacific, the Middle East and Africa, Latin America, and Europe from a regional perspective. Of these, North America holds a dominant position compared to other countries on account of the presence of a strong healthcare infrastructure. Moreover, a rising preference for fast healthcare services and effective response from healthcare organizations in terms of enquiries also is making the market proliferate rapidly in North America. However, apart from this region, Asia Pacific also showcases extensive presence of the market in addition to Europe. This is mainly due to a highly increasing demand of efficient healthcare services in terms of enquiring for health-based advice needed in different applications, occurring in the region. The market is also catching up substantially in the other regions of Latin America and the Middle East and Africa, wherein the market is expanding at a substantially steady rate.

Global Healthcare Chatbots Market: Competitive Landscape

The global healthcare chatbots market depicts the presence of a highly competitive vendor landscape. Such a high spirit of competition mainly exists owing to the presence of numerous technology-driven companies. Many companies are attempting to bring forth smart innovations to their services. Several players are also participating in important mergers and acquisitions in the form of key strategies to expand their presence in the global healthcare chatbots market. The companies are also developing new solutions and products to provide exemplary chatbot and other interactive digital services in the healthcare services.

Your.MD, HealthTap, Inc., Sensely, Inc., Buoy Health, Inc., Infermedica, Babylon Healthcare Service Limited, Baidu, Inc., Ada Digital Health Ltd., PACT Care BV, Woebot Labs, Inc., and GYANT.Com, Inc., are key players operating in the global healthcare chatbots market.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.