Overview and Scope
Healthcare chatbots are computer programs designed to simulate conversations with human users in the healthcare industry. It is programmed to perform a variety of tasks, such as booking appointments, assessing symptoms, and suggesting reminders for vaccination, etc., and can be integrated into various platforms, such as websites, messaging apps, and voice assistants.
Sizing and Forecast
The healthcare chatbots market size has grown exponentially in recent years. It will grow from $0.35 billion in 2023 to $0.45 billion in 2024 at a compound annual growth rate (CAGR) of 25.7%. The growth in the historic period can be attributed to increasing healthcare costs, shortage of healthcare professionals, patient engagement initiatives, rise of telehealth services, demand for immediate healthcare information, regulatory support for digital health..
The healthcare chatbots market size is expected to see exponential growth in the next few years. It will grow to $1.18 billion in 2028 at a compound annual growth rate (CAGR) of 27.7%. The growth in the forecast period can be attributed to integration with electronic health records, expansion of remote patient monitoring, increasing mental health awareness, personalized medicine adoption, cybersecurity measures.. Major trends in the forecast period include integration with health apps and platforms, natural language processing (nlp) advancements, voice-enabled healthcare chatbots, virtual health assistants for remote monitoring, ai-based diagnostic chatbots..
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Segmentation & Regional Insights
The healthcare chatbots market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment Model: On-Premise Model, Cloud-Based Model
3) By Application: Symptoms Check, Appointment Scheduling And Monitoring, Medical And Drug Information Assistance, Other Applications
4) By End User: Patients, Healthcare Providers, Insurance Companies, Other End Users
North America was the largest region in the healthcare chatbots market in 2023. The regions covered in the healthcare chatbots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing need for virtual health assistance is expected to boost the growth of healthcare Chatbot market going forward. Virtual health assistance uses digital technologies to provide healthcare services and information to patients remotely. Telemedicine is a form of virtual health assistance that uses communication technologies to connect patients with healthcare providers. The healthcare Chabot integrated with virtual heath assistance helps to access to healthcare services. For instance, in 2021, according to the Centers for Disease Control and Prevention, a US-based public health agency, 37% of adults had used telemedicine in a single year and further office-based physicians usage increased six times to 87 percent in 2021. Therefore, the increasing need for virtual health assistance will drive the healthcare chatbots market forward.
Key Industry Players
Major companies operating in the healthcare chatbots market are developing advanced platforms by leveraging technology such as Artificial Intelligence (AI) to democratize analytics in the medical field. Artificial Intelligence (AI) refers to the simulation of human intelligence in machines that are programmed to think and learn as humans. For instance, in October 2023, Mendel.ai, a US-based provider of clinical AI platforms launched Hypercube, an AI platform that integrates structured and unstructured medical data to allow users to pose free-text questions and receive specific patient data outcomes. Hypercube distinguishes itself through its hybrid system and combines a language model trained on medical records with a symbolic system. This approach empowers users to interact with medical data using natural language queries, thereby providing efficient and accurate outcomes.
The healthcare chatbots market report table of contents includes:
1. Executive Summary
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