Global Chatbots in Healthcare Market to Grow at a CAGR of 26.29% from 2019-2029

Tuesday 24 September 2019, Amsterdam

Chatbots have become advanced self-service portals and knowledge bases today that can enable customers to quickly and easily find the answers to their queries. Consequently, they tend to reduce the volume of incoming calls to call centers (for any business) and thereby reduces operational costs, which includes the cost on staffing.

Chatbots are one of the prominent technologies currently being integrated into the healthcare system. The chatbots are not considered as the SaMD (software as medical device) as they do not participate in clinical decision-making process, rather, they act as the personal healthcare assistant as well as the trainer for its users.

Chatbots have their applications in several sectors such as banking, finance, and retail. By enhancing their operational efficacy, chatbots can also significantly boost the efficiency levels in the field of healthcare. Healthcare chatbots are hence expected to bring a cost savings opportunity of $6.40 billion by the end of 2029 from a current $11.72 million in 2018. Although healthcare was not the first sector to witness the benefits offered by a chatbot, there has been a significant surge in the adoption of chatbots. Simultaneously, there has been a continuous rise in the expansion of use cases for chatbots in the healthcare sector. Some of the major applications in healthcare that chatbots are currently engaged in addressing are - personalized medical follow-up, communication, and transmission of test results information sharing, and medical triage (preliminary diagnosis through understanding of a patient’s symptoms).

According to the latest report, titled 'Global Chatbots in Healthcare Market - Analysis and Forecast (2019-2029)’, the global chatbots in healthcare market to grow at a significant CAGR of 26.29% during the forecast period from 2019 to 2029.

Companies Mentioned in the Report:

• Ada Health GmbH
• Ariana Digital Health
• Babylon Health
• GYANT.COM, INC
• HealthJoy
• HealthTap, Inc.
• Infermedica
• K Health, Inc.
• Kik Interactive, Inc
• Pact Care BV
• Sensely
• Woebot Labs Inc.
• Wysa Ltd
• X2AI
• Your.MD Ltd.

Key Questions Answered in the Report:

• How chatbots are positioned to save billions of dollars of healthcare expenditure annually? How the conversational AI tools can help in reducing healthcare expenditure for developed economies such as North America and Europe?
• Apart from the existing applications such as medical triage and administrative tasks, in what other fields can the usage of chatbots be expanded?
• What are the key business models employed by the key players in the industry? How are the various platform providers (such as Microsoft, Google, and Facebook) entering the market?
• What are the major developments such as product launches, mergers and acquisitions, collaborations, and partnerships taking place in the market and how are the changing the overall dynamics of the chatbots in healthcare market?
• What are the major pricing strategies employed by the vendors that can significantly put a pricing pressure on the competitors?
• What is the current user base of leading chatbot vendors in the market?
• How are chatbots expanding in different segments of healthcare such as pharmaceuticals and research?
• What are the technological and regional trends pertaining to the global chatbots in healthcare market?
• What is the growth potential of the global chatbots in healthcare market in North America, Europe, Asia-Pacific, Latin America and Rest-of-the-World?