Healthcare Chatbots Market Size, Share, Growth, Analysis, Opportunities and Forecast To 2027

by Saggy on Aug 6, 2021 Health and Fitness 180 Views

Market Scope

Market Research Future (MRFR) studied the global Healthcare Chatbots Market 2021 for the assessment period till 2023. As per MRFR data, the global healthcare chatbots market is expected to expand at 21.10% CAGR over the review period (from 2018 to 2023). By 2023, the global market of healthcare chatbots is expected to value USD 316.85 Mn.

Market Drivers and Restrains

The surge in adoption of automated processes to simplify workflow in the healthcare field is expected to support the expansion of the healthcare chatbots market on a global scale. The introduction of numerous healthcare mobile applications and rise in the number of healthcare providers engaging patients through mobile apps can add to the healthcare chatbots market. Moreover, the growing approved of healthcare chatbots to assist doctors and patients in hospitals and other healthcare settings can work in favor of the market. Chatbots can fetch data of patients and assist them to find and get appointment of potential doctors for stress-free, rapid diagnosis and treatment. The growing prevalence of patients with chronic disorders and the rise in the assistance of healthcare chatbots for virtual assistants on medications to these patients can benefit the market growth in the near future.

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Market Segmentation

The segment study of the healthcare chatbots market is based on component, application, deployment, and end-user.

The component-based segments of the healthcare chatbots market are software and service. The software segment can acquire around 82.1% market share, while the service segment can garner 17.9% share of the global healthcare chatbots market by 2023. The software segment is anticipated to exhibit 21.40% CAGR in the forecast tenure and accrue around USD 264.07 Mn for the worldwide healthcare chatbots market. Software offers relevant and unbiased data with the assistance of disruptive technologies, such as; natural language processing (NLP) and artificial intelligence (AI), can favor the software segment. The services segment is expected to earn USD 52.77 Mn by 2023.

The deployment-based segments of the global healthcare chatbots market are on-premise and cloud. The on-premise segment is likely to secure about 64.6% share of the overall healthcare chatbots market by 2030, whereas the cloud-based segment can retain 35.4% share. The growing awareness about benefits offered by on-premise, such as; efficiency in providing personalized care services, can favor expansion of the market. In addition, the low operational expense with on-premise makes it lucrative for several end-users, thus the segment is expected to earn value of USD 203.36 Mn by 2023. The cloud-based deployment segment of the market can acquire around USD 113.48 Mn by 2023 as it allows easy retrieval of both clinical and non-clinical data of patients from their storage.

The application-based segments of the global healthcare chatbots market are medication assistance and appointment scheduling & medical guidance. The segment of medication assistance can garner 85% share, while the appointment scheduling and medical guidance segment can earn 15% share of the global market. The prior segment can earn value of USD 268.60 Mn by 2023 from USD 85.43 Mn in 2017. The growing adoption of medication assistance solutions can be attributed to the growing utility of healthcare chatbots in organizing healthcare records and tackling patient engagement. The appointment scheduling and medical guidance segment can earn USD 48.25 Mn by 2023.

The end-users-based segments of the healthcare chatbots market are patients, healthcare providers, and insurance companies among others. The patient segment can acquire 58.4% market share, following the healthcare providers segment and insurance companies can hold 28.7% and 8.5%, respectively. and others (4.4%). The healthcare providers segment can expand at 21.34% CAGR and earn USD 92 Mn by 2023.

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Regional Analysis

As per MRFR regionals study, Europe is expected to generate USD 129.36 Mn by 2023. The Americas healthcare chatbots market can earn USD 117.18 Mn at 21.46% CAGR over the forecast period and the market in The APAC region is likely to generate USD 60.48 Mn at 21.16% CAGR by 2023. The escalation in investments made to incorporate artificial intelligence and IoT to improve healthcare facilities can benefit the market in these regions. In addition, the adoption of chatbots to build a robust medical infrastructure can also underpin the market in these regions.

Competitive Analysis

Sensely, Inc. (U.S.), Buoy Health, Inc. (U.S.), HealthTap, Inc. (U.S.), GYANT.COM, Inc. (U.S.), Woebot Labs, Inc. (U.S.), Babylon Health (U.K.), Your.MD (U.K.), PACT Care BV (The Netherlands), Infermedica (Poland), and Ada Health GmbH (Germany) are well-established players in the healthcare chatbots market that are listed by MRFR.

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