Global Chatbots in Healthcare Market Trends, Technology Innovations and Key Players (Babylon, HealthTap, Baidu, Sensely, Woebot Health, Ada Health GmbH) - Growth Prediction 2021-2027

The global chatbots in healthcare market is expected to witness a CAGR of 24.23% during the forecast period. The chatbots in the healthcare sector have advanced dramatically owing to the growing penetration of smart devices, enhanced internet connectivity, rising demand for cost optimization, augmented customer experience, need for virtual assistance, and development in NLP and speech recognition. Moreover, the surge in inpatient waiting time, an increasing number of collaborations between industry players and healthcare providers to adopt healthcare chatbots, increasing downloads of healthcare mobile applications, technological innovations in artificial intelligence.

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Baidu (China) acquired Kitt.ai (US) to provide developers with a platform to build chatbots based on AI and NLP technology.

The COVID-19 pandemic has augmented the chatbots in the healthcare market to access and take care of individuals requiring an immediate response. According to World Economic Forum, more than 1000 COVID-19 specific chatbots were launched by Microsoft's chatbot creation program.

Based on the component, the chatbots in healthcare market are segmented into software and services. The improved technological features in chatbot software like Natural Language Processing (NLP), multilingual capabilities, interference engine, cloud-based deployment, Application Programming Interface (API), mobile platform compatibility, and single point of search is bolstering the demand for the software segment in the chatbots in healthcare market.

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Europe dominates the chatbots in the healthcare market owing to the rising literacy rate, technology-friendly population, rise in spending on healthcare infrastructure, and close connection between medical institutes and technological service providers.

Some of the major players in the global chatbots in the healthcare market include Babylon Inc., HealthTap, Inc., Baidu, Inc., Sensely, Inc., Woebot Health, Ada Health GmbH, Your.MD Ltd. UK, Buoy Health, Inc., PACT Care BV., and GYANT.com, Inc.

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