New York, NY, Feb. 06, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Healthcare Chatbots Market by Deployment Model (Cloud-Based and On-Premise), by Component (Services and Software), by End-User (Healthcare Providers, Insurance Companies, Patients, and Others), and by Application (Medical Guidance & Appointment Scheduling and Medication Assistance & Symptom Checking): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2025”. According to the report, the global healthcare Chatbots market was valued at approximately USD 123 million in 2018 and is expected to generate around USD 470 million by 2025, at a CAGR of around 21.2% between 2019 and 2025.
Chatbots are artificial intelligence systems capable of conducting a conversation using textual or auditory methods. Chatbots pass the Turing test as they simulate human behavior during a conversation. A chatbot yields a response based on feedback from a user. Healthcare chatbots help in reducing the burden on physicians in primary care. Healthcare chatbots can connect patients with doctors for diagnosis or treatment.
Browse through 72 Tables & 29 Figures spread over 110 Pages and in-depth TOC on “Global Healthcare Chatbots Market: By Type, Size, Share, Industry Trends, Segments, Analysis and Forecast, 2018—2025”.
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The increasing penetration of high-speed internet, rising adoption of smart devices, growing need for automated health assistance, increasing awareness regarding technological usage in healthcare, and implementation of cloud-computing systems are likely to drive the global healthcare chatbots market in the future. The number of global internet users has grown exponentially in the last two decades. In countries such as Bangladesh and Nigeria, the rise in internet users is as huge as 40,000%. China has maximum internet users in the world, followed by India and the United States. However, data privacy issues, the absence of expertise for the development of chatbots, and misconceptions regarding chatbots coupled with lack of awareness might restrict the growth of healthcare chatbots market on a global scale.
The global healthcare chatbots market is fragmented based on the deployment model, component, end-user, and application. By deployment model, the healthcare chatbots market is bifurcated into cloud-based and on-premise. The component segment includes services and software. The software segment held the highest market share in 2018. The end-user segment includes healthcare providers, insurance companies, patients, and others. The patient's segment held a substantial market share in 2018, owing to the rising symptom checker adoption and increasing use of chatbots based adoption by patients. By application, this market includes medical guidance and appointment scheduling and medication assistance and symptom checking. The medical guidance and appointment scheduling segment are expected to grow at the highest CAGR during the estimated time period.
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By region, Europe is likely to be the leading region over the forecast time period. This can be attributed to the high internet penetration rate, the presence of the second highest number of internet users in the world (around 16%), and increasing awareness regarding the benefits of healthcare chatbots. At the country levels, Germany, UK, and France are the leading healthcare chatbots market in Europe. Germany is anticipated to progress at the highest CAGR over the anticipated timeframe, due to the increasing collaborations between healthcare providers and vital industry players.
North America is anticipated to emerge as the second largest market for healthcare chatbots, owing to the constant innovations in the field of healthcare and early adoption of innovative smart healthcare products. At the country level, the U.S. is expected to progress at the highest CAGR during the anticipated timeframe, due to the availability of latest healthcare infrastructure.
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The Asia Pacific region is projected to propagate at a speedy rate in this global market over the forecast time period. India, China, and Japan are expected to fuel the growth of the region’s healthcare chatbots market in the years ahead. The development in the Asia Pacific region is expected to be driven by the presence of the highest number of internet users (around 49%), increasing awareness regarding the use of chatbots in the healthcare sector, and increasing per capita healthcare infrastructure.
The Latin American healthcare chatbots market is projected to record swift growth over the estimated time period due to the increasing investments made by major players in the region, growing awareness regarding healthcare chatbots usage, and favorable government initiatives. The Middle Eastern and African region is predicted to show limited growth in this market due to the lack of awareness regarding the use of chatbots.
Some key players of the global healthcare chatbots market are HealthTap, Inc., Your.MD, Buoy Health, Inc., Sensely, Inc., Babylon Healthcare Service Limited, Infermedica, Baidu, Inc., PACT Care BV, Ada Digital Health Ltd., GYANT.Com, Inc., and Woebot Labs, Inc., among others.
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This report segments the global healthcare chatbots market into:
Global Healthcare Chatbots Market: By Deployment Model
- Cloud-Based
- On-Premise
Global Healthcare Chatbots Market: By Component
- Services
- Software
Global Healthcare Chatbots Market: By End-User
- Healthcare Providers
- Insurance Companies
- Patients
- Others
Global Healthcare Chatbots Market: By Application
- Medical Guidance and Appointment Scheduling
- Medication Assistance and Symptom Checking
Global Healthcare Chatbots Market: By Region
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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