$300+ Mn Healthcare Chatbots Market - Global Forecast to 2023: Need for Virtual Health Assistance & Social Media Platform-Oriented Chatbots
DUBLIN, Sept. 6, 2018 /PRNewswire/ --
The "Healthcare Chatbots Market by Component, Deployment Model, Application, End User - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global healthcare chatbots market is projected to reach USD 314.3 million by 2023 from USD 122.0 million by 2018, at a CAGR of 20.8% from 2018 to 2023.
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.
Based on component, the healthcare chatbots market is segmented into software and services. The software segment is expected to account for a larger share in 2018 as compared to the services segment. 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.
By deployment model, the healthcare chatbots market is segmented into on-premise and cloud-based models. The on-premise model segment is expected to account for a larger share of 53.5% in 2018 as compared to the cloud segment. However, the cloud-based model segment is projected to register a higher growth rate during the forecast period.
Cloud-based healthcare chatbot solutions are sold on the basis of subscription, ranging from one month to multiple years, and these solutions do not require significant setup charges. Moreover, the maintenance and support service charges are included in the subscription fees, which make these solutions more affordable for customers.
Based on application, the healthcare chatbots market is segmented into symptom checking & medication assistance and appointment scheduling & medical guidance. In 2018, the symptom checking & medication assistance segment dominated healthcare chatbots market. The large share of this application segment can primarily be attributed to the increasing use of chatbots for symptom checking, vital sign monitoring, and medication assistance to track health and identify probable diseases based on symptoms observed in the early stages
Based on end user, the healthcare chatbots market is segmented into patients, healthcare providers, insurance companies, and other end users. The healthcare providers segment is projected to grow at the highest during the forecast period, due to the growing adoption of healthcare chatbots by clinicians and hospitals to increase their patient engagement rate.
Healthcare Chatbots Market
Europe is expected to lead the healthcare chatbots market during the forecast period. The dominance of the European market can be attributed to the 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.
However, the adoption of healthcare chatbots is 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 hinder the market growth.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Healthcare Chatbots: Market Overview
4.2 Healthcare Chatbots Market, By Component, 2018 vs 2023
4.3 Healthcare Chatbots Market, By Deployment Model, 2018 vs 2023
4.4 Geographic Analysis: European Healthcare Chatbots Market, By End User and Region (2018)
4.5 Geographic Snapshot: Healthcare Chatbots Market (2018-2023)
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Internet Connectivity and Smart Device Adoption
5.2.1.2 Company Initiatives to Boost the Use of Healthcare Chatbots
5.2.1.3 Need for Virtual Health Assistance
5.2.2 Opportunities
5.2.2.1 Social Media Platform-Oriented Chatbots
5.2.2.2 Cloud-Based Models
5.2.3 Challenges
5.2.3.1 Concerns Regarding Data Privacy
5.2.3.2 Lack of Expertise for Chatbot Development
5.2.3.3 Lack of Awareness and Misconceptions
6 Healthcare Chatbots Market, By Component
6.1 Introduction
6.2 Software
6.3 Services
7 Healthcare Chatbots Market, By Deployment Model
7.1 Introduction
7.2 On-Premise Model
7.3 Cloud-Based Model
8 Healthcare Chatbots Market, By Application
8.1 Introduction
8.2 Symptom Checking & Medication Assistance
8.3 Appointment Scheduling & Medical Guidance
9 Healthcare Chatbots Market, By End User
9.1 Introduction
9.2 Patients
9.3 Healthcare Providers
9.4 Insurance Companies
9.5 Other End Users
10 Healthcare Chatbots Market, By Region
10.1 Introduction
10.2 Europe
10.2.1 UK
10.2.2 Germany
10.2.3 France
10.2.4 Rest of Europe
10.3 North America
10.3.1 US
10.3.2 Canada
10.4 Asia
10.5 Rest of the World
11 Competitive Landscape
11.1 Overview
11.2 Market Ranking Analysis
11.3 Competitive Scenario
11.3.1 Agreements and Partnerships
11.3.2 Product Launches
11.3.3 Acquisitions
11.3.4 Expansions
11.3.5 Other Developments (Venture Capital Investments)
12 Company Profiles
12.1 Your.MD
12.2 Healthtap, Inc.
12.3 Sensely, Inc.
12.4 Buoy Health, Inc.
12.5 Infermedica
12.6 Babylon Healthcare Services Limited
12.7 Baidu
12.8 Ada Digital Health, Ltd.
12.9 PACT Care BV
12.10 Woebot Labs, Inc.
12.11 GYANT.Com, Inc.
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