Healthcare Chatbots Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Healthcare Chatbots Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Report Digest
Global Healthcare Chatbots Market: Snapshot
The healthcare chatbots market has been estimated to grow at a CAGR of 20.8% in the foreseeable years. Further, the healthcare chatbots market is also predicted to reach US$ 314 million during the forecast period from 2020 to 2030.
The rapid growth avenues in the healthcare chatbots market have been owing to the increasing adoption of the industry products by the developed countries, for instance Europe and North America.
On the flip side, the concerns related to data privacy has been estimated to put adverse impacts on the growth avenues in the healthcare chatbots market in the near future.
In addition to this, the dearth of the skilled personnel has also been anticipated to curtail the growth prospects in the healthcare chatbots market in the coming years.
The healthcare chatbots market has been predicted to grow at the rapid pace with the increasing internet connectivity along with growing adoption of the smart devices.
Furthermore, the key players operating in the healthcare chatbots market are taking initiatives to bolster the use of the healthcare chatbots market products. So, based on these factors, the healthcare chatbots market has been projected to expand at the noteworthy speed in the following years.
In recent years, there has been an increased requirement for the virtual healthcare assistance that is further driving demand opportunities in the healthcare chatbots market.
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.
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