Healthcare Chatbots Market Size To Be Worth USD 594.8 Million by 2027 Growing at a CAGR of 20.3% , says Emergen Research

The global Healthcare Chatbots Market is forecasted to be worth USD 594.8 Million by 2027, according to a current analysis by Emergen Research. The healthcare chatbots market is anticipated to expand exponentially over the forecast period. The growth in the demand for chatbots apps is due to the rise in internet penetration and usage of smart wellbeing devices, and increasing awareness of self-monitoring techniques in diagnosis and treatment. The rising need for virtual health assistance is expected to further drive the market growth.

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Key Highlights from the Report:

• The software sub-segment is expected to dominate the market with a CAGR of 20.5% during the forecast timeframe. Segmental growth is expected to be fueled by the growth of diverse applications for patients and health care providers.

• With a CAGR of 20.5%, the healthcare provider sub-segment accounted for the largest market over the forecast period. Healthcare facilities manage important medical records, such as patient information, hospital inventory, billing records, and patient medical records. By offering interactive assistance for healthcare facility activities, increasing patient flows in hospitals and clinics will generate tremendous demand for healthcare chatbot applications.

• Over the forecast period, North America is expected to have the biggest market. Insurance providers such as Medicaid and Medicare are reducing the cost of operating procedures that result in inflows from clinics and outpatient surgery services.

• Nuance Communications acquired mCarbon Tech Innovations, the Noida-based mobile value-added services company for USD 36 million in February 2017. This tailored deal for Nuance is expected to further expand its current value-added services and subscription business services portfolio, which is, at present, distributed over Northern America, Latin America, Europe, and Australia, and boost its services in Africa, India, and Southeast Asia.

• Woebot Labs, a mental health AI platform, bagged USD 8 million in Series A funding in March 2018. New Enterprise Associates led the funding round, and Andrew Ng’s AI Fund also participated.

• Barcelona-based Inbenta Technologies raised USD 6.5 million in 2019 to expand its AI-powered customer service platform internationally in Europe, the U.S., and Japan.

• Berlin-based Ada Health, a key firm in the healthcare chatbots market that operates as an ‘Alexa for health,’ raised a USD 47 million funding round led by Access Industries, the global investment group of Len Blavatnik. June Fund and Berlin-based Cumberland VC joined the round as well.

• Key participants include Nuance Communications, Inc., Ada Health GmbH, HealthTap, Inc., Synthetix Ltd., Woebot Labs, Inbenta Technologies Inc., Infermedica, PACT Care BV, Baidu, Inc., and Next IT Corporation, among others.

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Healthcare Chatbots Market Segmentation:

Emergen Research has segmented the Global Healthcare Chatbots Market on the basis of deployment, component, application, end-user, and region:

Deployment Outlook (Revenue, USD Million; 2017-2027)

• Cloud-based
• On-premise

Component Outlook (Revenue, USD Million; 2017-2027)

• Services
• Software

Application Outlook (Revenue, USD Million; 2017-2027)

• Appointment Scheduling & Medical Guidance
• Symptom checking & Medication Assistance

End-User Outlook (Revenue, USD Million; 2017-2027)

• Healthcare Providers
• Patients
• Insurance Companies
• Others

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Regional Outlook (Revenue, USD Million; 2017-2027)

• North America
  1. U.S.
  2. Canada
  3. Mexico
• Europe
  1. Germany
  2. U.K.
  3. France
  4. BENELUX
  5. Rest of Europe
• Asia Pacific
  1. China
  2. Japan
  3. South Korea
  4. India
  5. Rest of APAC
• Latin America
  1. Brazil
  2. Rest of LATAM
• Middle East & Africa
  1. Saudi Arabia
  2. U.A.E.
  3. Rest of MEA

Reasons to buy the report:

1. This study segments the Healthcare Chatbots market and derives the precise valuation of the overall, as well as segment-based, market across different industry verticals, geographies, and products.
2. The report will help participants understand the trajectory of the progress of the market and provide information on key drivers, restraints, challenges, threats, and opportunities for the growth of the Healthcare Chatbots sectors.
3. This Healthcare Chatbots report would allow readers to be well-versed with the existing competition and gain more insights to improve their standing in the worldwide business. The competitive landscape considers the dominant competitors, along with product launches and technological advancements, strategic expansions, mergers and acquisitions, and procurement strategies implemented by key players in the Healthcare Chatbots market.

Key features of the report:

• To study the key aspects impacting the Healthcare Chatbots market size.
• To identify growth prospects in the Healthcare Chatbots market.
• To analyze the Healthcare Chatbots market segments and deduce the dominant trends observed in the industry.
• To examine the Healthcare Chatbots market by investigating the available products, market share, and value proposition of the products.
• To analyze the industry by assessing the scope and application of the Healthcare Chatbots market and highlight the growth of each application.

Table of Content

Chapter 1. Methodology & Sources

    1.1. Market Definition

    1.2. Research Scope 

    1.3. Methodology

    1.4. Research Sources

          1.4.1. Primary

          1.4.2. Secondary

          1.4.3. Paid Sources

    1.5. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2020-2030

Chapter 3. Key Insights

Chapter 4. Healthcare Chatbots Market Segmentation & Impact Analysis

    4.1. Healthcare Chatbots Market Material Segmentation Analysis

    4.2. Industrial Outlook

          4.2.1. Market indicators analysis

          4.2.2. Market drivers’ analysis

          4.2.3. Market restraints analysis

    4.3. Technological Insights

    4.4. Regulatory Framework

    4.5. Porter’s Five Forces Analysis

    4.6. Competitive Metric Space Analysis

    4.7. Price trend Analysis

    4.8. Covid-19 Impact Analysis

Continued…

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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