Top Trends Driving the Global Healthcare Chatbots Market | Size Will Cross USD 431.47 Million by 2028 | Global Report by Vantage Market Research


WASHINGTON, March 17, 2022 (GLOBE NEWSWIRE) -- According to a new market research report " Healthcare Chatbots Market Size, Share & Trends Analysis Report by Component (Software, Services), by Deployment Model (On-premise Model, Cloud-based Model), by Application (Symptom Checking & Medication Assistance, Appointment Scheduling & Medical Guidance), by End User (Patients, Healthcare Providers, Insurance Companies, Other End Users), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)", published by Vantage Market Research, the global post COVID-19 market size of the Healthcare Chatbots Market is expected to grow from USD 184.60 Million in 2021 to USD 431.47 Million by 2028 at a CAGR of 15.20% during the forecast period.

Synopsis:

A chatbot is defined as an interactive application that utilizes artificial intelligence and a set of rules to interact with humans using a textual conversation process. It helps to assist users in numerous fields. The healthcare industry has always been an attractive industry for companies developing chatbot applications for clinicians and patients.

Growing demand for virtual health assistance is a major determinant driving the market growth, but the industry’s continuous innovation and technological advancements, increasing patient wait times and lack of patient engagement are leading to increasing adoption of Healthcare Chatbots Market. Advances in communication and information retrieval technologies such as chatbots have led to the continued development of voice-driven personal assistants. The market growth of voice personal assistants is attributed to the increased use of such devices by patients. Additionally, voice-driven personal assistants are expected to provide assistance or diagnostic services in real-time as needed, thereby providing immediate assistance or diagnosis to patients in a non-invasive manner. The Healthcare Chatbots Market has exploded in recent years due to the rapid expansion of smartphone use and access to affordable internet in different regions. With such advances, chatbots are also becoming more humane and efficient and can perform various tasks.

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Key Insights & Findings from the Report:

  • According to our primary respondents’ research, the Healthcare Chatbots market is predicted to grow at a CAGR of roughly 15.20% during the forecast period.
  • The Healthcare Chatbots market was estimated to be worth roughly USD 184.60 Million in 2021 and is expected to reach USD 431.47 Million by 2028; based on primary research.
  • On the basis of region, Asia-Pacific is projected to dominate the worldwide Healthcare Chatbots market.

List of Prominent Players in the Healthcare Chatbots Market

  • Your.MD (UK)
  • Health Tap, Inc. (US)
  • Sensely, Inc. (US)
  • Buoy Health, Inc. (US)
  • Infermedica (Poland)
  • Babylon Healthcare Service Limited (UK)
  • Baidu, Inc. (China)
  • Ada Digital Health Ltd. (Germany)
  • PACT Care BV (Netherlands)
  • Woebot Labs, Inc. (US)
  • and GYANT.Com, Inc. (US).

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Market Dynamics:

Drivers:

The major driving factors of the global healthcare chatbot market are the integration of AI with virtual assistants such as Amazon Alexa and Microsoft Cortana, the increasing consumerization of health care, and the need to improve healthcare services. Moreover, the advent of rising number of smartphone users worldwide and the increasing adoption of the internet among the people has increased demand for Healthcare Chatbots Market to a significant extent. These chatbots can perform a broad range of tasks, from grievance resolution to medical advice, and therefore have a vast market potential. Healthcare Chatbots Market are becoming more intuitive and informative with increasing technological advances in the sector. The increased literacy rate and technological improvements are also indicating a growing consumer confidence in virtual assistants, which will have a positive effect on the Healthcare Chatbots Market.

Challenges:

The Healthcare Chatbots Market is currently suffering due to ignorance and misconceptions about chatbots, and the fact that it requires technical knowledge to operate and deprives a large segment of the population who are not technologically adept of its advantages. A large percentage of the world population is still out of reach of smartphones and affordable. Data privacy, security, lack of expertise for chatbot development and lack of awareness and misconceptions are still a major concern for global internet users, which will affect the Healthcare Chatbots Market. The remaining problems, such as less user-friendliness and limited use, are too slow-growing, but will improve with technological advances.

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Regional Trends:

North America Healthcare Chatbots Market is expected to grow in terms of revenue due to rising internet connectivity, smart device adoption, and increasing need for virtual health care. The growing collaborations between key industry players and healthcare providers for the deployment of Healthcare Chatbots Market in various countries, increasing awareness of Healthcare Chatbots Market, and an increase in patient waiting times and inefficient patient engagement are reasons for market growth in this region. Asia-Pacific is also a rapidly-growing region. Rising technological innovations and increased smartphone penetration are the major growth drivers, along with an accelerating literacy rate and increased access to the internet. Europe Healthcare Chatbots Market accounts for moderate revenue share due to rising internet connectivity, smart device adoption, and increased need for virtual health care in countries in the region.

The report on the Healthcare Chatbots Market highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Historic Data, Estimates, and Forecast
  • Company Profiles
  • Global and Regional Dynamics

Browse market data Tables and Figures spread through 154 Pages and in-depth TOC on "Healthcare Chatbots Market Size, Share & Trends Analysis Report by Component (Software, Services), by Deployment Model (On-premise Model, Cloud-based Model), by Application (Symptom Checking & Medication Assistance, Appointment Scheduling & Medical Guidance), by End User (Patients, Healthcare Providers, Insurance Companies, Other End Users), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/healthcare-chatbots-market-market-939556

Key questions answered in the report:

  • Which regional market will show the highest and rapid growth?
  • Which are the top five players of the Healthcare Chatbots Market?
  • How will the Healthcare Chatbots Market change in the upcoming six years?
  • Which application and product will take a lion’s share of the Healthcare Chatbots Market?
  • What is the Healthcare Chatbots market drivers and restrictions?
  • What will be the CAGR and size of the Healthcare Chatbots Market throughout the forecast period?      

This market titled “Healthcare Chatbots Market” will cover exclusive information in terms of Geographic Segmentation, Forecast, Regional Analysis, Key Market Trends, and various others as mentioned below:

ParameterDetails
Market Size in 2021USD 184.60 Million
Projected Market Size in 2028USD 431.47 Million
CAGR Growth RateCAGR of 15.20% From 2022 – 2028
Market Size Provided for Years2016-2028
Base Year2021
Historic Years2016-2020
Forecast Years2022-2028
Segments Covered 
• Component
     • Software
     • Services

 • Deployment Model
     • On-premise Model
     • Cloud-based Model

 • Application
     • Symptom Checking & Medication Assistance
     • Appointment Scheduling & Medical Guidance

 • End User
     • Patients
     • Healthcare Providers
     • Insurance Companies
     • Other End Users

Region & Counties Covered 
• North America
     • U.S.
     • Canada
     • Mexico

 • Europe
     • U.K
     • France
     • Germany
     • Italy
     • Spain
     • Rest Of Europe

 • Asia Pacific
     • China
     • Japan
     • India
     • South Korea
     • South East Asia
     • Rest Of Asia Pacific

 • Latin America
     • Brazil
     • Argentina
     • Rest Of Latin America

 • Middle East & Africa
     • GCC Countries
     • South Africa
     • Rest Of Middle East & Africa

Companies Covered
 • Your.MD (UK)

 • HealthTap, Inc. (US)

 • Sensely, Inc. (US)

 • Buoy Health, Inc. (US)

 • Infermedica (Poland)

 • Babylon Healthcare Service Limited (UK)

 • Baidu, Inc. (China)

 • Ada Digital Health Ltd. (Germany)

 • PACT Care BV (Netherlands)

 • Woebot Labs, Inc. (US)

 • and GYANT.Com, Inc. (US).

Report CoverageMarket growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

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