Healthcare Chatbots Market - Industry analysis, size, share, growth & upcoming trends (2021-27)

Author : univdatos
Publish Date : 2021-04-09 06:58:47
Healthcare Chatbots Market - Industry analysis, size, share, growth & upcoming trends (2021-27)

The global Healthcare Chatbots Market is expected to reach the market valuation of US$ 967.7 million by 2027 expanding at a reasonable CAGR of 21.56% during the forecast period (2021-2027) from US$ 183.3 billion in 2019. The surging prevalence of chronic disease coupled with the rising aging population globally is resulting in the demand for the chatbot in the healthcare sector. As per the National council of aging, approximately 80% of the older adults have at least one chronic disease and about 95% of the healthcare costs in America are attributed to chronic disease.

The various factors driving the healthcare chatbots market include the proliferating internet penetration coupled with the adoption of smartphones. According to GSMA, there are now over 10.22 Billion mobile connections worldwide and approximately 41.54% population was using the internet in 2015, which increased to around 63% in 2020. Moreover, around 48.53% of the global population have smartphones. Therefore, the number of smartphone users globally increased from 2.5 billion in 2016 to 3.5 billion in 2020. Moreover, the need for chatbots owing to several benefits such as time savings, no requirement for visiting healthcare facility every time for appointment and symptom check, etc. acts as the growth catalyst to the market.

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A rise in the government spending in healthcare coupled with the healthcare organization’s spending for the adoption of robotics technologies are some of the factors, due to which the market of the healthcare chatbot is witnessing an uptick. In a survey, it was found that approximately 90% of the healthcare facilities in the United States will use AI and chatbots to save lives and improve their quality of care by 2025. Furthermore, the COVID pandemic has outburst the installation of chatbots in healthcare facilities. Numerous hospitals have adopted the chatbots platform for information. Also, end-users traction for the chatbot due to the fear of the virus and the government’s announcement of the lockdown has positively impacted the market. Also, the launch of new solutions and services and the end-users traction towards that is intensifying the market growth of the healthcare chatbot.

Based on components type, the market is fragmented into software and services. The software

segment dominated the market in 2019 accounted for 81.9% and is anticipated to maintain its dominance during the forecast period owing to the launch of numerous software by the prominent players in the market. Also, the new software is being installed across healthcare facilities due to which the market share of the software segment is emerging.

For a detailed analysis of the deployment in the Healthcare Chatbots Market browse through - https://univdatos.com/report/global-healthcare-chatbots-market:-current-analysis-and-forecast-2020-2027

Based on the deployment type, the market is fragmented into the on-premise and on-cloud segment. The on-cloud segment grabbed the major market share and accounted for 69.7% in 2019 and is anticipated to maintain its dominance during the forecast period as well. The market share for the cloud deployment is promulgating owing to the benefits such as hassle-free integrations along with multiple channels, the solution comes up with multiple plans depending on the usage and requirement, etc., However, the on-premise segment is expected to register a growth of 19.7% during the forthcoming years.

The application areas of the healthcare chatbots are Medical Triage, Customer Service and Administration, Mental Health, Health and Fitness, Patient Engagement and Others (Clinical Trials, Medical Reminder, Chatbot in Research, Chatbots in Medical Procedures). The medical triage segment dominated the market and grabbed 37.8% in 2019. However, the mental health segment is expected to witness the highest growth rate in the coming years due to the surging number of patients with mental illness and other neuron related disorder.

Based on end-user, the market is fragmented into Patients, Providers, Payers, and others. The patients' segment dominated the market and generated revenue of US$ 104.5 million in 2019 owing to the surging prevalence of communicable disease and patients’ preference for the on-line consult, symptom check, and other processes due to the fear of infections. However, the provider segment is expected to witness a CAGR of 20% during 2021-27.

Additionally, the report provides detailed initiatives that are being taken in the field of healthcare chatbot. The market is classified into distinct regions including North America (the U.S and Canada), Europe (Germany, France, Spain, Italy, and United Kingdom), Asia-Pacific (China, Japan, India, Australia, and South Korea), Middle East, and Africa (Saudi Arabia and UAE), Latin America (Mexico, and Brazil). North America market generated revenue of US$ 41.6 million in 2019 owing to the rising geriatric population which prefers the use of chatbots for time savings, hectic schedules, etc. As per the United States Census Bureau, the people of 65+ age would outpace the number of children and reach 23.4% by 2034. However, Latin America is anticipated to witness the highest CAGR during the forecast period.

Baidu, Sensely, Ada Digital Health Ltd, Babylon Health, Tencent, Health Tap, Infermedica, Buoy Health, Your.MD (Healthily) and Woebot Labs are some of the prominent players operating in the global healthcare chatbots market. Several M&A’s along with partnerships have been undertaken by these players to develop healthcare chatbot.

Global Healthcare Chatbot Market Segmentation

Market Insight, by Components Type

  • Software
  • Service

Market Insight, by Deployment

  • On-Premise
  • On-Cloud

Market Insight, by Application

  • Medical Triage
  • Customer Service and Administration
  • Mental Health
  • Health and Fitness
  • Patient Engagement
  • Others (Clinical Trials, Medical Reminder, Chatbot in Research, Chatbots in Medical Procedures)

Market Insight, by End-User

  • Patients
  • Providers
  • Payers
  • Others

Market Insight, by Region

  • North America
    • United States
    • Canada
    • Rest of North America
  • Europe
    • France
    • Germany
    • Italy
    • Spain
    • United Kingdom
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia-Pacific
  • The Middle East and Africa
    • UAE
    • Saudi Arabia
    • Rest of the Middle East and Africa
  • Latin America
    • UAE
    • Saudi
    • Rest of Latin America

Top Company Profiles

  • Baidu
  • Sensely
  • Ada Digital Health Ltd
  • Babylon Health
  • Tencent
  • HealthTap
  • Infermedica
  • Buoy Health
  • Your.MD (Healthily)
  • Woebot Labs

The healthcare chatbots market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

About Us:

UnivDatos Market Insights (UMI), is a passionate market research firm and a subsidiary of Universal Data Solutions. Rigorous secondary and primary research on the market is our USP, hence information presented in our reports is based on facts and realistic assumptions. We have worked with 200+ global clients, including some of the fortune 500 companies. Our clientele praises us for quality of insights, In-depth analysis, custom research abilities and detailed market segmentation.



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