Global Healthcare Chatbots Market - Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecast to 2027

The global healthcare chatbots market is expected to grow at a CAGR of 25% to reach USD 1.1 billion by 2027 from 230.6 million in 2020. The growth of the healthcare chatbots market is mainly driven by rising Internet connectivity and smart device adoption, company initiatives to boost the healthcare chatbots, and the need for virtual assistance The report segments the healthcare chatbots market by component, deployment model, application, end-user, and region.

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Optimum internet connectivity and rising adoption of smart devices will favor the growth of the healthcare chatbot solutions market
Rising internet connectivity and the growing adoption of smartphones and mobile platforms play a key role in ensuring the adoption and use of chatbots. This has ensured growing number of consumers to access healthcare services, and also greatly broadened the reach of said services. According to data published by Anthem Insurance Companies, Inc. (U.S.) in May 2017, approximately 50% of smartphone users gather health information using mobile apps; 36% of doctors say apps are the most effective way to engage with patients; and 90% of doctors believe mobile apps can improve health. Smart devices equipped with advanced chatbot tools solve many mission-critical communication issues in healthcare. Thus, an increase in overall smartphone and device adoption will favor the growth of the healthcare chatbot solutions market

Technology advancement in artificial intelligence drives the healthcare chatbots market growth
Widespread advancements occurring in the field of artificial intelligence is primarily responsible for driving growth in the global healthcare chatbots market. This is mainly due to the implementation of more sophisticated and mature chatbot processes that are intensely smart to deal with engaging customers who intend to access healthcare services. With a rising demand of automation in healthcare domains, the use of chatbots to achieve online efficiency in terms of dealing with customer inquiries and customer retention is increasing. This is expected to showcase a highly positive growth curve for healthcare chatbots in the near future. Many healthcare organizations businesses are making use of chatbot services in an excess of ways, thus expanding the boundaries of their capacities and capabilities.

Software dominates healthcare chatbots market during forecast period
In 2020, the software segment accounted for the largest share of the global healthcare chatbots market, by component. Chatbots market for software include the revenue derived from chatbot solutions excluding services such as consulting, designing, development, system integration, deployment, support, and maintenance. Chatbots providers generally derive revenue from subscription-based pricing model and most of them provide freemiun version which can be upgraded with monthly or annual subscription model.

The growth of the chatbots software market is attributed to the rise in adoption of smartphones and increased awareness of self-monitoring approaches in health and disease management. For instance, according to the Parks Associates, more than 40 million smartphone owners in the U.S. are active users of wellness or fitness apps.

Symptom checking application dominates the global healthcare chatbots market, by application
The symptom checking segment accounted for the largest share of the global healthcare chatbots market in 2018, by application. Increasing adoption of smartphones and internet penetration are the major factors propelling demand for such solutions from patients and healthcare providers. Ada (Germany), Babylon Health (UK), Buoy Health (US) and Your.MD (UK) are the most prominent primary-care based symptom checker chatbots used by patients.

Patients as an end user segment dominates the global healthcare chatbots market
Patients are the largest end users of healthcare chatbots. Patients use applications such as symptom checkers and medical triage applications to understand their conditions better. They can access healthcare chatbots on medical websites, mobiles, and on social media pages, and then interact with virtual healthcare assistants to receive the appropriate healthcare information based on symptoms. Healthcare chatbots interact with potential patients visiting a site, provide a possible diagnosis, help find specialists, schedule appointments, and improve access to the right treatments. The adoption of medicine assistant chatbots such as Florence and Melody is also increasing as these bots notify patients to take their medication on time and also report data in case of a missed dosage.

North America: Fastest Growing Regional Market
The North America market for healthcare chatbots is expected to grow at a highest CAGR. Factors such as rise in usage of mobile apps to gather healthcare information, high adoption of social network embedded chatbots, and large investments by healthcare technology developers to boost the use of healthcare chatbots are driving the growth of the chatbots market in North America.

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Key Players
The report includes competitive landscape based on extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 4 years (2018-2021).
The key players profiled in the global healthcare chatbots market research report are
Your.MD (UK)
Microsoft Inc. (US)
Apple Inc. (US)
Qualcomm Inc. (US)
HealthTap, Inc. (US)
Sensely Inc. (US)
Buoy Health Inc. (US)
Infermedica (Poland)
IBM Corporation (US)
Hewlett-Packard (HP) Inc. (US)
Verizon Communications Inc. (US)
Babylon Healthcare Service Limited (UK)
Baidu Inc. (China)
Ada Digital Health Ltd. (Germany)
PACT Care BV (Netherlands)
Woebot Labs Inc. (US)
GYANT.Com Inc. (US)

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