Healthcare Chatbots Market Worth $314.3 Million by 2023

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Aug 30, 2018, 09:30 ET

PUNE, India, August 30, 2018 /PRNewswire/ --

According to a new market research report "Healthcare Chatbots Market by Component (Software, Service), Deployment Model (Cloud, On-Premise), Application (Symptom Check, Medical Assistance, Appointment Booking), End User (Patient, Healthcare Providers, Insurance Companies) - Global Forecast to 2023", published by MarketsandMarkets™, the global market is projected to reach USD 314.3 million by 2023 from USD 122.0 million in 2018, at a CAGR of 20.8% during the forecast period.

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Browse 83 market data Tables and 27 Figures spread through 122 Pages and in-depth TOC on "Healthcare Chatbots Market"

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Need for virtual assistance, and rising Internet connectivity and adoption of smart devices are factors driving the growth of Healthcare Chatbots Market

By component, the software segment is estimated to lead the Healthcare Chatbots Market in 2018.

Based on component, the Healthcare Chatbots Market is segmented into software and services. In 2018, the software segment is expected to lead the market. Enhanced technological features in chatbot software, such as Natural Language Processing (NLP), multilingual capabilities, interference engine, cloud-based deployment, Application Programming Interface (API), mobile platform compatibility, and single point of search is propelling the growth of the software segment.

The patient's segment is estimated to lead the Healthcare Chatbots Market during the forecast period.

Based on end user, the Healthcare Chatbots Market is segmented into patients, healthcare providers, insurance companies, and other end users. The patient's segment is estimated to lead the healthcare chatbots in 2018, owing to the increasing adoption of symptom checker and medical assistance chatbots by patients to keep track of their health and medication.

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Europe expected to lead the Healthcare Chatbots Market in 2018.

In 2018, Europe is expected to lead the market followed by North America. The growth of the market in this region can be attributed to collaborations between key industry players and healthcare providers for the implementation of healthcare chatbots in various European countries and the growing awareness and benefits of healthcare chatbots.

The adoption of healthcare chatbots has yet to witness widespread adoption in emerging countries, where doctors and other healthcare providers are still reluctant to adopt advanced healthcare solutions. Data privacy concerns and a lack of sufficiently skilled personnel to develop healthcare chatbots are factors expected to affect market growth to a certain extent. Prominent players offering Healthcare Chatbots Market include Your.MD (UK), HealthTap, Inc. (US), Sensely, Inc. (US), Buoy Health, Inc. (US), Infermedica (Poland), Babylon Healthcare Service Limited (UK), Baidu, Inc. (China), Ada Digital Health Ltd. (Germany), PACT Care BV (Netherlands), Woebot Labs, Inc. (US), and GYANT.Com, Inc. (US).

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