Market Analysis: Global Healthcare Chatbots Market
The global healthcare chatbots market is expected to rise from its initial estimated value of USD 122.0 million in 2018 to an estimated value of USD 542.3 million by 2026 registering a CAGR of 20.5% in the forecast period of 2019-2026. This rise in the market can be attributed to the rising adoption of smart device and increasing connectivity.
Market Definition: Global Healthcare Chatbots Market
A chatbot can be defined as an interactive application that utilizes the artificial intelligence and a set of rules to interact with humans using the textual conversation process. It assists the users in various sectors. Healthcare sector has been an attractive industry for the companies developing chatbot applications for clinicians and patients. For instance, Your.MD platform provides actionable health information which is based on extremely accurate sources and helps the user to make best choices for their health.
- Rising demand for virtual health assistance is a major factor leading to industry growth
- Constant innovations and technological developments in the industry will act as a major market driver
- Increasing concerns related to data privacy is acting as a major restraint for the market
- Lack of knowledge for chatbot development will also hamper the market demand
Segmentation: Global Healthcare Chatbots Market
- By Component
- By Deployment Model
- On-premise Model
- Cloud-based Model
- By Application
- Diagnosis & medical aid
- Appointment scheduling
- By End User
- Healthcare Providers
- Insurance Companies
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In June, 2018, Bupa entered into a strategic partnership with Babylon to offer artificial intelligence powered health services to its corporate clients. This strategy would help the company to enhance its customer base.
- In July, 2017, Baidu acquired Kitt.ai to provide developers a platform for building chatbots based on NLP and AI technology. This would help in the development of the company and also would expand their customer base,
Competitive Analysis: Global Healthcare Chatbots Market
The global healthcare chatbots market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of healthcare chatbots market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Healthcare Chatbots Market
Few of the major market competitors currently working in the healthcare chatbots market are HealthTap, Inc., Anboto, Sensely, Buoy Health, Inc., Infermedica, Babylon, Baidu, Inc., Ada Health GmbH, PACT Care BV, Woebot, GYANT.COM, Inc., Creative Virtual, Your.MD, Synthetix Ltd., Next IT Corp., CX Company, Inbenta Technologies Inc., eGain, Nuance Communications, Inc. and eCreations.
Research Methodology: Global Healthcare Chatbots Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request An Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Healthcare IT Solution Providers, Healthcare IT Vendors, Healthcare IT Service Providers, Hospitals and Physician Offices, Diagnostic Laboratories, Healthcare Payers, Government Institutes, Market Research and Consulting Firms, Venture Capitalists and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report:
- Current and future of global healthcare chatbots market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)