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Healthcare Chatbots Market - Global Outlook and Forecast 2021-2026

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    Report

  • 327 Pages
  • July 2021
  • Region: Global
  • Arizton
  • ID: 5360061
UP TO OFF until Aug 31st 2022
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In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Healthcare Chatbots Market Report



The healthcare chatbots market by revenue is expected to grow at a CAGR of 27.17% during the period 2020-2026.

The healthcare industry is adopting chatbots to automate repetitive tasks and save costs and resources. The chatbot designing and the development processes based on the best practice will help the healthcare industry achieve the targeted goals and offer the full potential services. Several industries are exploring the bigger advantages that chatbots can provide to their businesses. In this context, AI-driven bots are widely popularized in different sectors. The high acceptance of Artificial intelligence-based bots that transform the customer experience by delivering more personalized services boosts the market growth.

The following factors are likely to contribute to the growth of the healthcare chatbots market during the forecast period:
  • High Demand for Mobile Health Applications
  • Favorable initiatives to boost the Acceptance of Chatbots for Healthcare Services
  • Increasing Need for Virtual Assistance in Healthcare Industry
  • Rising Demand For AI-Based Chatbots to Deliver Superior Customer Experience

HEALTHCARE CHATBOTS MARKET SEGMENTATION

The global healthcare chatbots market research report includes a detailed segmentation by end-users, mode of delivery, component, application, geography. Healthcare providers are the dominant users. Hospitals are the major revenue contributors among all healthcare providers. It is estimated that a nearly 50% reduction in the cost of treatment and 30-40% improvement in outcomes can be achieved through the AI-driven bots in the hospitals, according to Frost & Sullivan.

The growing trend of adopting cloud-based software is gaining high traction in the global healthcare chatbots market. Cloud-based technologies play a significant role in positioning healthcare in the digital landscape and are increasing the adoption of healthcare bots. The adoption rate of cloud-based technology is high compared to on-premise. Cloud-based solutions simplify the healthcare chatbot's development process and offer integration with multiple channels with flexibility in services and data storage capabilities.

The software services segment will dominate the global healthcare chatbots market by component. APAC, Europe, and North America are the top contributor in the software services market. The AI software-based bots have the potential not only to understand the patients' intent, no matter how the questions are phrased but also to have far more potential to deliver accurate answers.

Mediktor is the world's most advanced and accurate symptom checker for pre-diagnosis and decision-making support. It is an AI-based solution that users can easily interact with the chatbots describing their symptoms in the natural language. The chatbots in healthcare are developed with huge capabilities to offer services to the patients in appointment scheduling. Patients can also get medical guidance at the same time.

End-Users
  • Healthcare Providers
  • Patients
  • Payers
  • Others

Mode of Delivery
  • Cloud-Based
  • On-Premise

Components
  • Software
  • Services

Application
  • Symptom Checking & Medication Guidance
  • Appointment Booking & Medical Guidance

INSIGHTS BY GEOGRAPHY

North America is the major revenue contributor to the healthcare chatbots market and offers significant growth opportunities for both the local and global players. The high penetration of telehealth services in the entire North American region is beneficial and has the huge potential in promoting the upcoming growth in the industry. The favorable initiatives by the government in supporting digital health and are expected to increase the adoption of healthcare bots across North America.

Geography
  • North America
  • US
  • Canada
  • Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Netherlands
  • APAC
  • Japan
  • China
  • Australia
  • South Korea
  • India
  • Latin America
  • Brazil
  • Mexico
  • Argentina
  • Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Turkey
  • Israel

COMPETITIVE LANDSCAPE

The global market is gaining attention with the widely popularized regional and global players offering chatbot services in the healthcare industry. Several countries across the globe are increasing and focusing on the adoption of healthcare chatbots, which is expected to give a significant rise to the entry of new players. The market is highly competitive as the existing players offer similar solutions at substantially low prices without any service differentiation to end-users. Ada Health, Babylon, Baidu, Buoy Health, GYANT, HealthTap, Infermedica, PACT Care, Sensely, and Your.MD. are the key players in the healthcare chatbots market.

Key Vendors:
  • Ada Health
  • Buoy Health
  • Babylon
  • Baidu Health
  • GYANT
  • HealthTap
  • Infermedica
  • PACT Care
  • Sensely
  • Your.MD

Other Prominent Vendors
  • Ariana Digital
  • Creative Virtual
  • HealthJoy
  • Inbenta Technologies
  • Khealth
  • Makerobos Innovation Labs
  • Mediktor
  • Next IT
  • Napier Healthcare
  • Nuance
  • Synthetix
  • Virtual Spirits
  • Woebot
  • Wysa
  • X2AI

KEY QUESTIONS ANSWERED:

1. How big is the healthcare chatbot market?
2. What is the growth rate of the healthcare chatbot market?
3. Who are the major players in the chatbots healthcare industry?
4. Which region is likely to lead the global Healthcare Chatbots Market?
5. What are the advancements in the healthcare chatbot industry?
Frequently Asked Questions about the Healthcare Chatbots Market

What is the estimated value of the Healthcare Chatbots Market?

The Healthcare Chatbots Market was estimated to be valued at $122.5 Million in 2020.

What is the growth rate of the Healthcare Chatbots Market?

The growth rate of the Healthcare Chatbots Market is 27.1%, with an estimated value of $518.0 Million by 2026.

What is the forecasted size of the Healthcare Chatbots Market?

The Healthcare Chatbots Market is estimated to be worth $518.0 Million by 2026.

Who are the key companies in the Healthcare Chatbots Market?

Key companies in the Healthcare Chatbots Market include Ada Health, Buoy Health, Babylon, Baidu Health, GYANT, HealthTap, Infermedica, PACT Care and Your.MD.

Table of Contents

1 Research Methodology2 Research Objectives3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of the Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
8 Market Opportunities & Trends
8.1 Demand for Ai-Based Chatbots to Deliver Superior Customer Experience
8.2 Advancements in Chatbots Through NLP
8.3 Increased Acceptance/Awareness of Chatbots Due to Covid-19
8.4 Emergence of Social Media Oriented Chatbots
9 Market Growth Enablers
9.1 High Demand for Mobile Health Apps
9.2 Growing Internet Connectivity & Smartphone Penetration
9.3 Favorable Initiatives to Boost Chatbots in Healthcare Services
9.4 Rising Need for Virtual Assistance in Healthcare
10 Market Restraints
10.1 Concerns Regarding Data Privacy
10.2 Lack of Awareness & Skilled Healthcare Professionals
10.3 High Deployment Costs of Chatbots
11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Five Forces Analysis
12 End-Users
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Healthcare Providers
12.4 Patients
12.5 Payers
12.6 Others
13 Mode of Delivery
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Cloud-Based
13.4 On-Premise
14 Component
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Software
14.4 Services
15 Application
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Symptom Checking & Medication Assistance
15.4 Appointment Scheduling & Medical Guidance
16 Geography
16.1 Market Snapshot & Growth Engine
16.2 Geographic Overview
17 North America
17.1 Market Overview
17.2 Market Size & Forecast
17.3 Key Countries
18 Europe
18.1 Market Overview
18.2 Market Size & Forecast
18.3 Key Countries
19 APAC
19.1 Market Overview
19.2 Market Size & Forecast
19.3 Key Countries
20 Latin America
20.1 Market Overview
20.2 Market Size & Forecast
20.3 Key Countries
21 Middle East & Africa
21.1 Market Overview
21.2 Market Size & Forecast
21.3 Key Countries
22 Competitive Landscape
22.1 Competition Overview
22.2 Market Share Analysis
23 Key Company Profiles
23.1 Ada Health
23.2 Buoy Health
23.3 Babylon
23.4 Baidu
23.5 GYANT
23.6 HealthTap
23.7 Infermedica
23.8 Pact Care
23.9 Sensely
23.10 YOUR.MD
24 Other Prominent Vendors
24.1 Ariana Digital Health
24.2 Creative Virtual
24.3 HealthJoy
24.4 Inbenta Technologies
24.5 Khealth
24.6 Makerobos Innovation Labs
24.7 Mediktor
24.8 Next IT
24.9 Napier Healthcare
24.10 Nuance
24.11 Synthetix
24.12 Virtual Spirits
24.13 Woebot
24.14 Wysa
24.15 X2AI
25 Report Summary
25.1 Key Takeaways
25.2 Strategic Recommendations
26 Quantitative Summary
26.1 Market by End-Users
26.2 Market by Mode of Delivery
26.3 Market by Component
26.4 Market by Application
26.5 Market by Geography
27 Appendix
27.1 Abbreviations

Companies Mentioned

  • Ada Health
  • Buoy Health
  • Babylon
  • Baidu Health
  • GYANT
  • HealthTap
  • Infermedica
  • PACT Care
  • Sensely
  • Your.MD
  • Ariana Digital
  • Creative Virtual
  • HealthJoy
  • Inbenta Technologies
  • Khealth
  • Makerobos Innovation Labs
  • Mediktor
  • Next IT
  • Napier Healthcare
  • Nuance
  • Synthetix
  • Virtual Spirits
  • Woebot
  • Wysa
  • X2AI

Methodology


Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.

Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.



 

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