Chatbots or Chart Robots are computer programs which can mimic human conversation with the help of Artificial Intelligence. At present, chatbots can converse with humans, but newer research and development is paving the way for more advanced technology, wherein two chatbots can converse with each other.
This report analyses the current status of the healthcare chatbots market, outlines the key market drivers and the bases for market segmentation, and studies the trends of this market till 2024, using 2018 as a historical research base.
The overall healthcare chatbots market is anticipated to reach USD 314.3 million by 2023 from USD 122.0 million in 2018, at a CAGR of 20.8% during the forecast period.
The main market drivers for this growth include increasing internet connectivity and adoption of smart devices, the growing demand for virtual assistants, and organization initiatives to boost the use of healthcare chatbots.
Market Key Players:
2. Healthtap, Inc.
3. Sensely, Inc.
4. Buoy Health, Inc.
6. Babylon Healthcare Services Limited
8. Ada Digital Health, Ltd.
9. PACT Care BV
10. Woebot Labs, Inc.
11. GYANT.Com, Inc.
The healthcare chatbots market has been segmented based on component, deployment model, application, end user, and geographical region.
Depending on component, the market can be split into software and services. The software segment occupied a larger market share in 2018, and advanced technology such as Natural Language Processing (NLP), multilingual capacities, interference engine, cloud-based deployment, mobile platform compatibility, single point of search and Application Programming Interface (API), is expected to further boost the growth of the software segment during the forecast period.
According to deployment model, the healthcare chatbots market is divided into on-premise model and cloud-based models, while the applications of healthcare chatbots include symptom checking and medication assistance, as well as appointment scheduling and medical guidance.
Depending on end user, the market can be split into:
- Healthcare Providers
- Insurance Companies
- Other End Users
Patients are the largest end users of healthcare chatbots, owing to the easy availability of applications such as symptom checkers to understand their conditions better. Patients can access healthcare chatbots on medical websites, mobile phones, and social media pages, and interact with virtual healthcare assistants to get the suitable healthcare information based on their symptoms.
North America, Europe, Asia-Pacific, and the Rest of the World, are the major regions for the healthcare chatbots market across the world.
Europe is expected to be the market leader in the healthcare chatbots market, followed by North America. North America is expected to grow at the highest CAGR during the forecast period, owing to the growing number of therapy chatbots, increasing adoption of smart devices, and growth in funding for developing more advanced chatbots.
In October 2019, Asparia, (formerly SimplifiMed) announced the launch of its first conversational platform using intelligent chatbots which are embedded in electronic health records of patients. Using this technology, patient access can be completely automated with customized two-way communication regarding appointments, checkups, and preventive screenings. These chatbots can “talk” to patients in over 100 languages through interactive texts and calls.
In June 2018, UK-based leading insurance company, Bupa, entered into an agreement with Babylon, Inc. to offer Artificial Intelligence driven healthcare services for its corporate clients.
Table Of Content:
1 Market Overview
2 Global Market Competition by Manufacturers
3 Global Capacity, Production, Revenue (Value) by Region (2013-2018)
4 Global Supply (Production), Consumption, Export, Import by Region (2013-2018)
5 Global Production, Revenue (Value), Price Trend by Type
6 Global Market Analysis by Application
7 Global Manufacturers Profiles/Analysis
8 Manufacturing Cost Analysis
9 Industrial Chain, Sourcing Strategy and Downstream Buyers
10 Marketing Strategy Analysis, Distributors/Traders
11 Market Effect Factors Analysis
12 Global Market Forecast (2018-2025)
13 Research Findings and Conclusion
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