Healthcare Chatbots Market Industry Analysis (2021-2027)

Author : univdatos
Publish Date : 2021-05-05 11:51:06
Healthcare Chatbots Market Industry Analysis (2021-2027)

Research report presented by UnivDatos, Emphasis on Components (Software, Services), Deployment Type (On-Premises, On-Cloud), Application (Medical Triage, Customer Service and Administration, Mental Health, Health and Fitness, Patient Engagement, Others), End-Users (Patients, Providers, Payers, Others) and Geographical analysis (key regions and countries).

As per the research report, the global Healthcare Chatbots Market is expected to reach the market valuation of US$ 967.7 million by 2027 expanding at a reasonable CAGR of 21.56% during the forecast period (2021-2027) from US$ 183.3 billion in 2019.

The global healthcare chatbots market is growing due to increasing internet penetration and mobile adoption in developing countries. According to a survey, the internet is used by about 4.66 billion users worldwide or about 60% of the world's population. Furthermore, owing to the increasing cases of COVID-19 and the need for cost optimization and improved user interface, healthcare providers, physicians, diagnostics laboratories, and others are creating applications and raising venture capital, while others have already introduced their chatbots. The market's development is being accelerated by technical advances in solutions such as natural language processing (NLP) and voice recognition by the major payers.

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Furthermore, the market for chatbots in the healthcare industry is being driven by a global scarcity of physicians who can respond to queries. According to the WHO, there is a global shortage of 4.3 million doctors, nurses, and other health practitioners, with demand for physicians expected to increase by 17% by 2025, owing to demographic growth and ageing populations.

Furthermore, a trend toward a sedentary lifestyle, along with an ageing population that is more susceptible to disease, is one of the leading causes of the rise in chronic and other associated diseases, which is driving demand for chatbots in healthcare for consultations, checkups, and reminders, among other things. According to the American Heart Association, healthcare professionals have advised 56 percent of people in the United States that they need to improve their fitness, and 99 percent of Americans need to improve their heart health.

Governments around the world are increasing their investments in healthcare, resulting in better technology and digitalization. According to the OCED, the US government spent USD 8,032.6 per capita in 2015, which rose to USD 9,386.5 per capita in 2019. Similarly, the government of the United Kingdom spent $3,043.6 USD per capita in 2015, which rose to $3,619.5 USD per capita in 2019.

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Insights Presented in the Report

“Amongst deployment type, on-cloud is expected to dominate the market during the analyzed period”

The market is divided into two types of deployments: on-premise and on-cloud. On-cloud distribution captured the majority of market share in 2019, accounting for 69.7% of market sales. Due to advantages such as quick rollout, updated technologies, and so on, healthcare facilities are increasing their investment on the cloud, resulting in a rising market share for the sector. Furthermore, during the forecast period of 2021-2027, the on-premise segment is projected to expand at a CAGR of about 19.7%.

“Amongst component type, the software segment holds the major share”

The market is divided into software and service based on the modules. Owing to the introduction of healthcare chatbots across healthcare facilities and increased customer demand for the use of chatbots due to advantages such as time savings, flexibility, and other factors, the software segment dominated the market in 2019 with a share of 81.9 percent and is projected to continue its dominance throughout the forecast era.

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“North America represents one of the largest markets of the healthcare chatbots market”

Comprehensive research was performed for various regions around the globe, including North America (the United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, Spain, and Rest of Europe),  Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of APAC), the Middle East and Africa (UAE, Saudi Arabia, and the Rest of the Middle East and Africa), and Latin America (Mexico, Brazil, and the Rest of Latin America) to get a greater understanding of the business dynamics of the healthcare chatbots market. Because of rising healthcare IT investment in countries such as the United States and Canada, North America dominated the market and delivered revenue of US$ 41.6 billion in 2019. Furthermore, the region's dominance is attributed to the involvement of well-established players as well as the use of cutting-edge technologies and services.

“Amongst application, medical triage is expected to dominate the market during the analyzed period”

The market is divided into Medical Triage, Customer Service and Administration, Mental Health, Health and Fitness, Patient Engagement, and Others, depending on the application (Clinical Trials, Medical Reminder, Chatbot in Research, Chatbots in Medical Procedures). In 2019, the Medical Triage segment commanded the majority of market share, accounting for 37.8% of total revenue. Furthermore, between 2021 and 2027, the mental health segment is expected to grow at a CAGR of around 21.6 percent.

Customization Options:

The healthcare chatbots market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

Table of Contents

1            Market Introduction  

2            Research Methodology or Assumption

3            Industry Performance

4            Executive Summary

5            Customer Survey

6            COVID-19 Impact

7            Market Insights by Components

8            Market Insights by Deployment

9            Market Insights by Application

10          Market Insights by End-Users

11          Market Insights by Region

12          Healthcare Chatbot Market Dynamics

13          Legal & Regulatory Framework

14          Demand and Supply Side Analysis

15          Value Chain Analysis

16          Healthcare Chatbots Market Hotspot & Opportunities

17          Healthcare Chatbots Market Trends & Insights

18          Competitive Scenario

19          Company Profiled - Baidu, Sensely, Ada Digital Health Ltd, Babylon Health, Tencent, HealthTap, Infermedica, Buoy Health, Your.MD

20          Disclaimer

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