Healthcare Chatbots Market worth $703.2 million by 2025

Meticulous Research- leading global market research company published a research report titled "Healthcare Chatbots Market by Component, Deployment (On-premise and Cloud-based), Application (Symptom Checking, Medication Assistance & Guidance, Coverage & Claims Management, Appointment Management), End User, and Geography-Global Forecast to 2025".
According to this latest publication from Meticulous Research, the global healthcare chatbots market is expected to grow at a CAGR of 25.1% from 2019 to reach $703.2 million by 2025.

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Factors such as increasing optimum internet connectivity and rising adoption of smart devices, limited availability to council huge patient population, technology advancements in artificial intelligence, chatbots to reduce the healthcare cost, and increasing demand for virtual health assistance are driving the growth of the global market. However, data privacy concerns, lack of expertise for chatbot development, and lack of awareness and misconceptions are hindering the growth of this market.

The global healthcare chatbots market study presents historical market data in terms of values (2017 and 2018), estimated current data (2019), and forecasts for 2025-component (software and services), deployment (on-premise and cloud-based), application (symptom checking, medication assistance & guidance, coverage & claims management, and appointment management), end-user (patients, healthcare providers, and healthcare payers). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

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On the basis of component, the global market is segmented broadly into two major segments, namely, software and services. In 2018, the software segment accounted for the largest share of the global market, by component. The growth of the healthcare chatbots software market is attributed to the rise in adoption of smartphones and increased awareness of self-monitoring approaches in health and disease management.

The global healthcare chatbots market is segmented broadly by deployment mode into two major segments namely, on-premise and cloud-based. In 2018, the on-premise segment accounted for the largest share of the global market. Factors such as ease of implementation and minimizing data breach possibility are driving the adoption of on-premise solutions.

On the basis of application, the global healthcare chatbots market is segmented broadly into four major segments namely, symptom checking, medication assistance & guidance, coverage & claims management, and appointment management. In 2018, the symptom checking segment accounted or the largest share of the global market, by application. With an increasing trend among patients towards self-management of treatments and therapies, there is a growing demand for virtual assistants like chatbots among patients.

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The global healthcare chatbots market is segmented broadly by end users into three major segments namely, patients, healthcare providers, and healthcare payers. In 2018, the patients segment accounted for the largest share of the global market, by end users. Factors such as adoption of smartphones among patients is driving the usage of chatbots among patients.

This research report analyzes major geographies and provides comprehensive analysis of North America, Europe, Asia-Pacific, and Rest of the World. Europe accounted for the largest share of market in 2018. This is mainly attributed to the factors such as rise in usage of mobile apps to gather healthcare information, high adoption of social network embedded healthcare chatbots, and large investments by healthcare technology developers to boost the use of market in Europe. The North America market for Healthcare Chatbots is expected to grow at a highest CAGR during the forecast period.

As of 2018, Infermedica, Sensely, Inc., Ada Digital Health, Ltd., Babylon Healthcare Services Limited, and HealthTap, Inc. dominated the global healthcare chatbots market. Other major players include Your.MD Limited, Baidu, Inc., Buoy Health, Inc., Woebot Labs, Inc., and GYANT.COM, INC. among others.

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Key questions answered in the report-

Which are the high growth market segments in terms of component, deployment, application, end user, and region?
What was the historical market for healthcare chatbots across the globe?
What are the market forecasts and estimates for the period 2019-2025?
What are the major drivers, restraints, opportunities, and challenges in the global market?
Who are the major players in the global healthcare chatbots market?
How is the competitive landscape and who are the market leaders in the global market?
What are the recent developments in the global market?
What are the different strategies adopted by the major players in the global market?
What are the geographical trends and high growth regions/ countries?
Who are the local emerging players in the global healthcare chatbots market and how do they compete with the global players?

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