Healthcare Chatbots Market To Be Valued At USD 594.8 Million by 2027 | CAGR of 20.3%
By: Emergen Research
Tags: News, Information Technology, Technology, Chatbots, Healthcare

The booming internet penetration, the escalating prevalence of smart well-being gadgets, and the growing demand for virtual health assistants in various applications are expected to propel market demand.

The Global Healthcare Chatbots Market is projected to garner a valuation of USD 594.8 Million by 2027, as per the latest analysis by Emergen Research. The sector is expected to progress significantly in the forecast years. A surge in demand for chatbots apps has resulted from the booming internet penetration, the rising awareness regarding self-monitoring practices in treatment and diagnosis, and the escalating prevalence of smart well-being gadgets. The growing demand for virtual health assistants in various applications is estimated to impel market growth further.

Inadequate expertise for the development of chatbots is predicted to restraint market growth in the forecast period.

Key Highlights From The Report

· Element Blue, a technology consultant in the field of healthcare specializing in robotic process automation (RPA), on 4th December 2020, announced a partnership with the conversational AI leader DRUID. The partnership would be centered on the emerging landscape of conversational AI technology in healthcare. The companies will work on deploying AI-driven virtual assistants in North America.

· The software sub-segment under the component segment is estimated to lead the market in the forecast years with a CAGR of 20.5%. The diversification of applications for healthcare providers and patients would boost the growth of the sub-segment.

· The healthcare provider sub-segment in the end-user segment contributed to the largest share of the overall market and is predicted to report a CAGR of 20.5% in the following years. Major medical records, including hospital inventory, patient medical records, billing records, and patient information, are maintained by healthcare facilities. The growing influx of patients in clinics & hospitals would result in an increased demand for healthcare chatbots through their interactive assistance used in healthcare facility operations.

· The North American regional market is expected to control a majority of the sector in the forecast years. Insurance programs, such as Medicare and Medicaid, are bringing down operating expenses of procedures that involve inflows from ambulatory surgical services & clinics.

· Key participants include Ada Health GmbH, Baidu, Inc., HealthTap, Inc., Inbenta Technologies Inc., Infermedica Sp. z o.o, Next IT Corporation, Nuance Communications, Inc., Synthetix Ltd., PACT Care BV, and Woebot Labs, among others.

Emergen Research has categorized the Global Healthcare Chatbots Market based on deployment, application, component, end-user, and region:

· Deployment Outlook (Revenue in USD Million; 2017–2027)

o On-premise

o Cloud-based

· Application Outlook (Revenue in USD Million; 2017–2027)

o Symptom checking & Medication Assistance

o Appointment Scheduling & Medical Guidance

· Component Outlook (Revenue in USD Million; 2017–2027)

o Software

o Services

· End-User Outlook (Revenue in USD Million; 2017–2027)

o Insurance Companies

o Healthcare Providers

o Patients

Others