Healthcare Chatbots Market Outlook - 2026
The global healthcare chatbots market accounted for $116.9 million in 2018 and is expected to reach $345.3 million by 2026, registering a CAGR of 14.5% from 2019 to 2026.
Chatbots is a software responsible for establishment of conversation between a human and artificial intelligence. Chatbots use textual or audio outputs to communicate with the customer. The conversation is carried out by using pre-calculated phrases in the form of texts. These chatbots are either cloud-based or on premise solutions, which are used by patients for checking symptoms, locating clinics or scheduling appointments. Furthermore, healthcare chatbots are also used by healthcare payers to establish a relation between the company and the potential customers.
Rise in hospital cost savings due to use of healthcare chatbots across the globe is a compelling factor that boots the growth of the healthcare chatbots market. Moreover, surge in internet connectivity and smart device adoption is another factor that contributes toward the growth of the market. In addition, the increase in patient waiting time and lack of efficient patient management across the globe also boosts the growth of healthcare chatbots market. Furthermore, growth potential offered by rise in awareness during the forecast period offer lucrative opportunities for the growth of the market. However, the concerns related to the data privacy hinder the growth of this market.
Healthcare Chatbots Market Segmentation
The healthcare chatbots market size is studied based on segments, application, deployment, end user, and region to provide a detailed assessment of the market. Based on application, the market is divided into symptoms check, medical & drug information assistance, appointment scheduling & monitoring, and other applications. Based on deployment, the market is divided into cloud-based and on premise. Based on end user, the market is classified into healthcare providers, healthcare payers, patients, and other end users. Based on region, the healthcare chatbots market size is analyzed across North America (U.S., Canada and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, and rest of LAMEA).
According to application, symptoms check occupied the largest healthcare chatbot market share in 2018 owing to the rise internet usage and surge in the level of medical information available at patient level. Furthermore, appointment scheduling and monitoring is expected to register the fastest growth during the forecast period owing to the need for reduction of patient waiting time and efficient use of healthcare resources.
Symptoms Check segment holds a dominant position in 2018 and would continue to maintain the lead over the forecast period.
Based on deployment, the cloud based segment occupied the largest share and is also the fastest growing segment during the forecast period owing to various advantages offered by these type of chatbots. For instance, cloud-based chatbots require less initial investment, they are more accessible and require less customization as compared to on premise based chatbots. Therefore, factors aforementioned contribute to healthcare chatbots market growth.
By End User
Cloud-based is projected as one of the most lucrative segment.
By region, North America accounted for the major healthcare chatbots market share in 2018 and is expected to continue this trend owing to, easy availability of the healthcare chatbots service. Moreover, the long patient waiting time contribute to the growth of global healthcare chatbots market in North America. On the other side, Asia-Pacific is estimated to register the fastest growth during the forecast period owing to surge in awareness related to the use of healthcare chatbots. The constantly evolving life science industry drives the growth of the market in the developing economies such as India, China, Malaysia, and others.
Asia-Pacific region would exhibit the highest CAGR of 15.9% during 2019-2026.
The global healthcare chatbots market is highly competitive and the prominent players in the market have adopted various strategies for garnering maximum market share. These include collaboration, product launch, partnership, and acquisition. Major players operating in the market include Ada Digital Health Ltd., Ariana, Babylon Healthcare Service Limited, Buoy Health, Inc., GYANT.Com, Inc., Infermedica Sp. z o.o, Microsoft, PACT Care B.V., Sense.ly Inc., and Your.MD.
Key Benefits for Healthcare Chatbots Market:
- This report entails a detailed quantitative analysis along with the current global healthcare chatbots market trends from 2019 to 2026 to identify the prevailing opportunities along with the strategic assessment.
- The healthcare chatbots market forecast is studied from 2019 to 2026.
- The market size and estimations are based on a comprehensive analysis of key developments in the industry.
- A qualitative analysis based on innovative products facilitates strategic business planning.
- The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market
Healthcare Chatbots Market Report Highlights
By END USER
Key Market Players
Ariana, Buoy Health, Inc, PACT Care B.V, Infermedica Sp. z o.o, Babylon Healthcare Service Limited, GYANT.Com, Inc, Sense.ly Inc, Microsoft, Your.MD, Ada Digital Health Ltd
Healthcare chatbots are artificial intelligence based used interfaces that are employed to create a conversation medium between a machine and a human. These chatbots are employed in assessment of symptoms of a patient before a physician visit. Moreover, these also help in locating healthcare clinics and scheduling appointments. These chatbots work on exchange of textual information or audio commands between a machine and a potential patient.
The utilization of healthcare chatbots has witnessed a significant growth, owing to surge in hospital cost savings by the use of healthcare chatbots. The other factors that propel the utilization of different healthcare chatbots include increase in internet connectivity, use of smart devices and long patient waiting times. Conversely, data privacy concerns associated with the use of healthcare chatbots hinders the growth of the global healthcare chatbots market. Whereas, surge in the awareness related to the use of healthcare chatbots is expected to present lucrative opportunities for the key players during the forecast period.