Healthcare Chatbots Market worth 25.1% CAGR and is estimated to reach USD 703.2 Million by 2025

 

According to this latest publication from Meticulous Research®, the global Healthcare Chatbots Market is expected to grow at a CAGR of 25.1% from 2019 to reach $703.2 million by 2025. Factors such as increasing optimum internet connectivity and rising adoption of smart devices, limited availability to council huge patient population, technology advancements in artificial intelligence, chatbots to reduce the healthcare cost, and increasing demand of virtual health assistance are driving the growth of the global market. However, data privacy concern, lack of expertise for chatbot development, and lack of awareness and misconception are hindering the growth of this market.

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The global healthcare chatbots market study presents historical market data in terms of values (2017 and 2018), estimated current data (2019), and forecasts for 2025-component (software and services), deployment (on-premise and cloud-based), application (symptom checking, medication assistance & guidance, coverage & claims management, and appointment management), end user (patients, healthcare providers, and healthcare payers). The study also evaluates industry competitors and analyzes the market at regional and country level.

On the basis of component, the global market is segmented broadly into two major segments, namely, software and services. In 2018, the software segment accounted for the largest share of the global market, by component. The growth of the healthcare chatbots software market is attributed to the rise in adoption of smartphones and increased awareness of self-monitoring approaches in health and disease management.

The global healthcare chatbots market is segmented broadly by deployment mode into two major segments namely, on-premise and cloud-based. In 2018, the on-premise segment accounted for the largest share of the global market. Factors such as ease of implementation and minimizing data breach possibility are driving the adoption of on-premise solutions.

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On the basis of application, the global healthcare chatbots market is segmented broadly  into four major segments namely, symptom checking, medication assistance & guidance, coverage & claims management, and appointment management. In 2018, the symptom checking segment accounted or the largest share of the global market, by application. With an increasing trend among patients towards self-management of treatments and therapies, there is a growing demand for virtual assistants like chatbots among patients.

The global healthcare chatbots market is segmented broadly by end users into three major segments namely, patients, healthcare providers, and healthcare payers. In 2018, the patients segment accounted for the largest share of the global market, by end users. Factors such as adoption of smartphones among patients is driving the usage of chatbots among patients.

As of 2018, Infermedica, Sensely, Inc., Ada Digital Health, Ltd., Babylon Healthcare Services Limited, and HealthTap, Inc. dominated the global healthcare chatbots market. Other major players include Your.MD Limited, Baidu, Inc., Buoy Health, Inc., Woebot Labs, Inc., and GYANT.COM, INC. among others.

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Key questions answered in the report-

·  Which are the high growth market segments in terms of component, deployment, application, end user, and region?

·  What was the historical market for healthcare chatbots across the globe?

·  What are the market forecasts and estimates for the period 2019-2025?

·  What are the major drivers, restraints, opportunities, and challenges in the global market?

·  Who are the major players in the global healthcare chatbots market?

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