Market Overview:
Innovative approaches in artificial intelligence and machine learning technologies have enhanced communication services in the healthcare sector. Chatbot is an artificial conversational entity that can conduct conversation via textual or auditory methods. Its function as an interactive agent has improved the conversational design in the healthcare sector. As per the report that has been published by Market Research Future (MRFR), the global healthcare chatbots market is anticipated to expand at a significant rate in the coming years.
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Competitive Dashboard:
The service providers in the Global Healthcare Chatbots Market are focusing on improving the quality of services and creating upgraded platforms for optimum functioning of chatbots for healthcare purposes. The prominent players in the global healthcare chatbots market are Your.MD (the U.K.), HealthTap, Inc. (the U.S.), Sensely, Inc. (the U.S.), Buoy Health, Inc. (the U.S.), Infermedica (Poland), Babylon Healthcare Service Limited (the U.K.), Baidu, Inc. (China), Ada Digital Health Ltd. (Germany), PACT Care BV (Netherlands), Woebot Labs, Inc. (the U.S.), and GYANT.Com, Inc. (the U.S.).
Market Drivers and Restraints:
Increasing complexities in personal monitoring of patients due to limited availability of resources have induced high demand for sophisticated alternative solutions. Recent advancement in technology is aiding various industry verticals, including the healthcare sector, in improving the quality of services that are being provided. Incorporation of virtual assistance in the healthcare sector has optimized the interaction between patients and healthcare professionals. Healthcare chatbots are providing optimum solutions to assist the conversations between healthcare professionals and patients, which is creating multiple opportunities for the significant growth of the global healthcare chatbots market.
Rapid rise in the number of individuals using messaging services and high penetration of smartphones in various regions of the world are aiding the utilization of healthcare chatbot services. Optimized internet connectivity, significant development in artificial intelligence technology, widespread application of IoT in the healthcare sector of various developed and developing regions are propelling the growth of the global healthcare chatbots market
Improvement in voice recognition technology especially in the field of natural language processing (NLP) and various other cross-linking features are enhancing the performance of chatbots in healthcare application. Increasing reliance on cloud-based services due to the provision of large data storage space and application of chatbots for medication assistance and symptom verification are propelling the growth of the global healthcare chatbots market. Furthermore, increasing support from government for modernization of healthcare sector in various regions is impacting positively on the expansion of the global healthcare chatbots market
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However, privacy concerns in cloud-based solutions, lack of awareness regarding the healthcare chatbots, low penetration of technologically advanced healthcare services and reluctance in the adoption of advanced healthcare solutions by healthcare service providers in developing and underdeveloped regions are likely to restrain the growth of the global healthcare chatbots market during the assessment period.
Market Segmentation:
The Global Healthcare Chatbots Market has been segmented on the basis of component, deployment model, application and end user. Based on component, the healthcare chatbots market has been segmented into software and services. Based on deployment model, the market has been segmented into on-premise model and cloud-based model. Based on application, the healthcare chatbots market has been segmented into symptom checking & medication assistance and appointment scheduling & medical guidance. Based on end user, the market has been segmented into patients, healthcare providers, insurance companies and others.
Regional Analysis:
Geographically, the global healthcare chatbots market is segmented into four major regions such as Europe, North America, Asia Pacific, and the rest of the world. Rapid technological development and easy adoption of artificial intelligence technology in the well-developed healthcare sector in the North America region is aiding in significant growth of the healthcare chatbots market in this region. The Europe region is projecting high growth potential in the global healthcare chatbots market due to increased research for the development of sophisticated conversational entities and high healthcare expenditure in this region. The healthcare chatbots market is expanding at a noteworthy rate in the Asia Pacific region owing to the increasing investment for modernization of healthcare sector and rise in penetration of advanced technologies in the emerging economies of this region.
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