Healthcare Chatbots Market

Healthcare Chatbots Market by Component (Software, Service), Deployment Model (Cloud, On-Premise), Application (Symptom Check, Medical Assistance, Appointment Booking), End User (Patient, Healthcare Providers, Insurance Companies) - Global Forecasts to 2023

Report Code: HIT 6565 Aug, 2018, by marketsandmarkets.com

The global healthcare chatbots market is projected to reach USD 314.3 million by 2023, growing at a CAGR of 20.8%. At present, chatbots are adopted among the developed countries such as North and Europe, and 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 also serve to affect market growth to a certain extent.

Market Dynamics

Drivers

  • Rising internet connectivity and samrt device adoption
  • Company initiatives to boost the use of healtchare chatbots
  • Need for virtual health assistance

Opportunities

  • Social media platform-oriented chatbots
  • Cloud-based models

Challenges

  • Concerns regarding data privacy
  • Lack of expertise for chatbot development
  • Lack of awareness and misconceptions

Rising internet connectivity and smart device adoption drive the market growth

Rising Internet connectivity and the growing adoption of smartphones and mobile platforms play a key role in ensuring the adoption and use of chatbots. This has ensured growing numbers of consumers to access healthcare services, and also greatly broadened the reach of said services. According to data published by Anthem Insurance Companies, Inc. (US) in May 2017, around 52% of smartphone users gather health information using mobile apps; 36% of doctors say apps are the most effective way to engage with patients; and 93% of doctors believe mobile apps can improve health. Smart devices equipped with advanced chatbot tools solve many mission-critical communication issues in healthcare. Thus, an increase in overall smartphone and device adoption will favor the growth of the global healthcare chatbots industry.

Healthcare Chatbots Market

The following are the major objectives of the study.

  • To define, describe, and forecast the global healthcare chatbots market on basis of component, deployment model, application, end user, and region
  • To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
  • To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
  • To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia, and the Rest of the World (RoW)
  • To strategically profile key players and comprehensively analyze their product portfolios, market positions, and core competencies
  • To track and analyze competitive developments such as acquisitions; new product launches; expansions; agreements, partnerships, and collaborations; and acquisitions in the healthcare chatbots market.

The study estimates the healthcare chatbots market size for 2018 and projects its demand till 2023. In the primary research process, various sources from both demand-side and supply-side were interviewed to obtain qualitative and quantitative information for the report. Primary sources from the demand-side include various industry CEOs, Vice Presidents, Marketing Directors, technology and innovation directors, and related key executives from the various players in the healthcare chatbots market. For the market estimation process, both top-down and bottom-up approaches were used to estimate and validate the market size of the healthcare chatbots market as well as to estimate the market size of various other dependent submarkets. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data was consolidated and added to detailed inputs and analysis from MarketsandMarkets and presented in this report.

Healthcare Chatbots Market

To know about the assumptions considered for the study, download the pdf brochure

Prominent players offering healthcare chatbots products include Your.MD (UK), HealthTap, Inc. (US), Sensely, Inc. (US), Buoy Health, Inc. (US), Infermedica (Poland), Babylon Healthcare Service Limited (UK), Baidu, Inc. (China), Ada Digital Health Ltd. (Germany), PACT Care BV (Netherlands), Woebot Labs, Inc. (US), and GYANT.Com, Inc. (US).

Major Market Developments

  • In June 2018, Bupa (UK), an insurance provider, entered into a partnership with Babylon (UK) to provide artificial intelligence-powered health services to all its corporate business clients. The end-users can access around-the-clock health advice through Bupa in the UK.
  • In January 2018, HealthTap, Inc, (US) entered into partnership with Bupa (UK). HealthTap’s proprietary Health Operating System HOPES, and its AI-powered apps will enable Bupa’s digital experiences and enhance speed, convenience, and quality of care for its customers.
  • In July 2017, Baidu (China) acquired Kitt.ai (US) to provide developers with a platform to build chatbots based on AI and NLP technology.

Target Audience:

  • Healthcare IT Solution Providers
  • Healthcare IT Vendors
  • Healthcare IT Service Providers
  • Hospitals and Physician Offices
  • Diagnostic Laboratories
  • Healthcare Payers
  • Government Institutes
  • Market Research and Consulting Firms
  • Venture Capitalists and Investors

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Scope of the Report

This report categorizes the healthcare chatbots market into following segments and subsegments.

Healthcare Chatbots Market, By Component

  • Software
  • Services

By Deployment Model

  • On-premise Model
  • Cloud-based Model

By Application

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

By End User

  • Patients
  • Healthcare Providers
  • Insurance Companies
  • Other End Users

By Region

  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe (RoE)
  • North America
    • US
    • Canada
  • Asia
  • Rest of the World (RoW)

Critical questions which the report answers

  • What are the application areas which the healthcare chatbots companies are exploring?
  • Which are the key players in the market and how intense is the competition?

Available Customizations

Based on the given market data, MarketsandMarkets offers customizations in the reports as per the client’s specific requirements. The available customization options are as follows:

Company Information

  • Detailed analysis and profiling of additional market players (Up to 5)
  • Product Matrix, which gives a detailed comparison of product portfolios of the top companies

 

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

Europe is expected to lead the healthcare chatbots market, followed by North America. However, North America is expected to register the highest CAGR during the forecast period. The high growth in North America can be attributed to the growing number of therapy chatbots, rising adoption of smart devices, and growth in venture capital investments to develop advanced chatbots.

Healthcare Chatbots Market

Growing usage of healthcare chatbots by clinicians and hospitals to increase their patient engagement rate, are driving the growth of the healtchcare chatbots market.

Patients

Patients are the largest end users of healthcare chatbots. Patients use applications such as symptom checkers and medical triage applications to understand their conditions better. They can access healthcare chatbots on medical websites, mobiles, and on social media pages, and then interact with virtual healthcare assistants to receive the appropriate healthcare information based on symptoms. Healthcare chatbots interact with potential patients visiting a site, provide a possible diagnosis, help find specialists, schedule appointments, and improve access to the right treatments. The adoption of medicine assistant chatbots such as Florence and Melody is also increasing as these bots notify patients to take their medication on time and also report data in case of a missed dosage.

Healthcare Providers

Healthcare providers include healthcare organizations, clinicians, and physicians. Healthcare providers need to identify diseases and analyze a large amount of healthcare information to make critical decisions. In an effort to improve the quality of care and reduce costs, healthcare providers are increasingly turning to IT-enabled strategies and software for the appropriate identification of diseases and better treatment alternatives. For instance, the SafeDrugBot is a chatbot widely used by doctors to find safe drugs that can be administered to pregnant women and mothers that are breastfeeding.

Insurance Companies

Insurance companies require access to medical information to guide clients and employees towards appropriate medical care so that they can avoid unnecessary medical costs. Owing to this, there is an increasing demand for healthcare chatbots such by insurance companies to analyze healthcare payment. To address this demand, chat providers are entering into collaborations with insurance companies or launching specially designed products for insurance providers. Such strategic developments will help chatbot providers to offer technologically advanced products for the insurance companies market, expand their customer base, and cater to the unmet demands of their customers.

Other End Users

Other end users include medical assistance provider companies, pharmacies, and third-party organizations. These companies majorly use healthcare chatbots to provide potential patients with proper access to healthcare information and help them find appropriate healthcare treatments in case of medical emergencies.

Critical questions the report answers:

  • Who are the key players in the market, their recent developments & key market strategies?
  • Where will all these developments take the industry in the mid to long term?

Concerns regarding data privacy pose a major challenge for the market. Chatbots are used for various applications in healthcare industry. Chatbots use software that applies AI to process language from interactions between humans and virtual assistants. As chatbots are actively being implemented, data security & privacy is one of the major challenges faced by the market. Patient data contain personal, private, or confidential information and requires strict safeguards to prevent its misuse. Patient data is protected under federal laws in many countries, and any breaches or failures to maintain its integrity can result in legal and financial penalties. Since chatbots used for patient care require access to multiple data sets, it is mandatory for AI-based tools such as chatbots to adhere to all data security protocols implemented by government and regulatory authorities. This is a very difficult task as most AI-based platforms are consolidated and require extensive computing power owing to which patient data, or part of it, can be required to reside in a vendor’s data set.

The healthcare chatbots market is marked by the presence of several established as well as emerging players. Prominent players offering healthcare chatbots are Your.MD (UK), HealthTap, Inc. (US), Sensely, Inc. (US), Buoy Health, Inc. (US), Infermedica (Poland), Babylon Healthcare Service Limited (UK), Baidu, Inc. (China), Ada Digital Health Ltd. (Germany), PACT Care BV (Netherlands), Woebot Labs, Inc. (US), and GYANT.Com, Inc. (US).

Frequently Asked Questions (FAQ):

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Table of Contents

1 Introduction (Page No. - 13)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Secondary Data
           2.1.1 Key Data From Secondary Sources
    2.2 Primary Data
           2.2.1 Key Data From Primary Sources
           2.2.2 Key Industry Insights
    2.3 Market Size Estimation
    2.4 Market Breakdown and Data Triangulation
    2.5 Assumptions for the Study

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 29)
    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 (Page No. - 34)
    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 (Page No. - 38)
    6.1 Introduction
    6.2 Software
    6.3 Services

7 Healthcare Chatbots Market, By Deployment Model (Page No. - 43)
    7.1 Introduction
    7.2 On-Premise Model
    7.3 Cloud-Based Model

8 Healthcare Chatbots Market, By Application (Page No. - 49)
    8.1 Introduction
    8.2 Symptom Checking & Medication Assistance
    8.3 Appointment Scheduling & Medical Guidance

9 Healthcare Chatbots Market, By End User (Page No. - 55)
    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 (Page No. - 65)
     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 (Page No. - 92)
     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 (Page No. - 99)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
     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.

*Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 116)
     13.1 Discussion Guide
     13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.3 Available Customizations
     13.4 Related Reports
     13.5 Author Details


List of Tables (83 Tables)

Table 1 Healthcare Chatbots Market, By Component, 2016–2023 (USD Million)
Table 2 Healthcare Chatbot Software Market, By Region, 2016–2023 (USD Million)
Table 3 Europe: Healthcare Chatbot Software Market, By Country, 2016–2023 (USD Million)
Table 4 North America: Healthcare Chatbot Software Market, By Country, 2016–2023 (USD Million)
Table 5 Healthcare Chatbot Services Market, By Region, 2016–2023 (USD Million)
Table 6 Europe: Healthcare Chatbot Services Market, By Country, 2016–2023 (USD Million)
Table 7 North America: Healthcare Chatbot Services Market, By Country, 2016–2023 (USD Million)
Table 8 Healthcare Chatbots Market, By Deployment Model, 2016–2023 (USD Million)
Table 9 Healthcare Chatbots Market for On-Premise Model, By Region, 2016–2023 (USD Million)
Table 10 Europe: Healthcare Chatbots Market for On-Premise Model, By Country, 2016–2023 (USD Million)
Table 11 North America: Healthcare Chatbots Market for On-Premise Model, By Country, 2016–2023 (USD Million)
Table 12 Healthcare Chatbots Market for Cloud-Based Model, By Region, 2016–2023 (USD Million)
Table 13 Europe: Healthcare Chatbots Market for Cloud-Based Model, By Country, 2016–2023 (USD Million)
Table 14 North America: Healthcare Chatbots Market for Cloud-Based Model, By Country, 2016–2023 (USD Million)
Table 15 Healthcare Chatbots Market, By Application, 2016–2023 (USD Million)
Table 16 Healthcare Chatbots Market for Symptom Checking & Medication Assistance, By Region, 2016–2023 (USD Million)
Table 17 Europe: Healthcare Chatbots Market for Symptom Checking & Medication Assistance, By Country, 2016–2023 (USD Million)
Table 18 North America: Healthcare Chatbots Market for Symptom Checking & Medication Assistance, By Country, 2016–2023 (USD Million)
Table 19 Healthcare Chatbots Market for Appointment Scheduling & Medical Guidance, By Region, 2016–2023 (USD Million)
Table 20 Europe: Healthcare Chatbots Market for Appointment Scheduling & Medical Guidance, By Country, 2016–2023 (USD Million)
Table 21 North America: Healthcare Chatbots Market for Appointment Scheduling & Medical Guidance, By Country, 2016–2023 (USD Million)
Table 22 Healthcare Chatbots Market, By End User, 2016–2023 (USD Million)
Table 23 Healthcare Chatbots Market for Patients, By Region, 2016–2023 (USD Million)
Table 24 Europe: Healthcare Chatbots Market for Patients , By Country, 2016–2023 (USD Million)
Table 25 North America:Healthcare Chatbots Market for Patients,By Country, 2016–2023 (USD Million)
Table 26 Healthcare Chatbots Market for Healthcare Providers, By Region, 2016–2023 (USD Million)
Table 27 Europe: Healthcare Chatbots Market for Healthcare Providers, By Country, 2016–2023 (USD Million)
Table 28 North America: Healthcare Chatbots Market for Healthcare Providers, By Country, 2016–2023 (USD Million)
Table 29 Healthcare Chatbots Market for Insurance Companies, By Region, 2016–2023 (USD Million)
Table 30 Europe: Healthcare Chatbots Market for Insurance Companies, By Country, 2016–2023 (USD Million)
Table 31 North America: Healthcare Chatbots Market for Insurance Companies, By Country, 2016–2023 (USD Million)
Table 32 Healthcare Chatbots Market for Other End Users, By Region, 2016–2023 (USD Million)
Table 33 Europe: Healthcare Chatbots Market for Other End Users, By Country, 2016–2023 (USD Million)
Table 34 North America:Healthcare Chatbots Market for Other End Users, By Country, 2016–2023 (USD Million)
Table 35 Healthcare Chatbots Market, By Region, 2016–2023 (USD Million)
Table 36 Europe: Healthcare Chatbots Market, By Country, 2016–2023 (USD Million)
Table 37 Europe: Healthcare Chatbots Market, By Component, 2016–2023 (USD Million)
Table 38 Europe: Healthcare Chatbots Market, By Deployment Model, 2016–2023 (USD Million)
Table 39 Europe: Healthcare Chatbots Market, By Application, 2016–2023 (USD Million)
Table 40 Europe: Healthcare Chatbots Market, By End User, 2016–2023 (USD Million)
Table 41 UK: Healthcare Chatbots Market, By Component, 2016–2023 (USD Million)
Table 42 UK: Healthcare Chatbots Market, By Deployment Model, 2016–2023 (USD Million)
Table 43 UK: Healthcare Chatbots Market, By Application, 2016–2023 (USD Million)
Table 44 UK: Healthcare Chatbots Market, By End User, 2016–2023 (USD Million)
Table 45 Germany: Healthcare Chatbots Market, By Component, 2016–2023 (USD Million)
Table 46 Germany: Healthcare Chatbots Market, By Deployment Model, 2016–2023 (USD Million)
Table 47 Germany: Healthcare Chatbots Market, By Application, 2016–2023 (USD Million)
Table 48 Germany: Healthcare Chatbots Market, By End User, 2016–2023 (USD Million)
Table 49 France: Healthcare Chatbots Market, By Component, 2016–2023 (USD Million)
Table 50 France: Healthcare Chatbots Market, By Deployment Model, 2016–2023 (USD Million)
Table 51 France: Healthcare Chatbots Market, By Application, 2016–2023 (USD Million)
Table 52 France: Healthcare Chatbots Market, By End User, 2016–2023 (USD Million)
Table 53 RoE: Healthcare Chatbots Market, By Component, 2016–2023 (USD Million)
Table 54 RoE: Healthcare Chatbots Market, By Deployment Model, 2016–2023 (USD Million)
Table 55 RoE: Healthcare Chatbots Market, By Application, 2016–2023 (USD Million)
Table 56 RoE: Healthcare Chatbots Market, By End User, 2016–2023 (USD Million)
Table 57 North America: Healthcare Chatbots Market, By Country, 2016–2023 (USD Million)
Table 58 North America: Healthcare Chatbots Market, By Component, 2016–2023 (USD Million)
Table 59 North America: Healthcare Chatbots Market, By Deployment Model, 2016–2023 (USD Million)
Table 60 North America: Healthcare Chatbots Market, By Application, 2016–2023 (USD Million)
Table 61 North America: Healthcare Chatbots Market, By End User, 2016–2023 (USD Million)
Table 62 US: Healthcare Chatbots Market, By Component, 2016–2023 (USD Million)
Table 63 US: Healthcare Chatbots Market, By Deployment Model, 2016–2023 (USD Million)
Table 64 US: Healthcare Chatbots Market, By Application, 2016–2023 (USD Million)
Table 65 US: Healthcare Chatbots Market, By End User, 2016–2023 (USD Million)
Table 66 Canada: Healthcare Chatbots Market, By Component, 2016–2023 (USD Million)
Table 67 Canada: Healthcare Chatbots Market, By Deployment Model, 2016–2023 (USD Million)
Table 68 Canada: Healthcare Chatbots Market, By Application, 2016–2023 (USD Million)
Table 69 Canada: Healthcare Chatbots Market, By End User, 2016–2023 (USD Million)
Table 70 Asia: Healthcare Chatbots Market, By Component, 2016–2023 (USD Million)
Table 71 Asia: Healthcare Chatbots Market, By Deployment Model, 2016–2023 (USD Million)
Table 72 Asia: Healthcare Chatbots Market, By Application, 2016–2023 (USD Million)
Table 73 Asia: Healthcare Chatbots Market, By End User, 2016–2023 (USD Million)
Table 74 RoW: Healthcare Chatbots Market, By Component, 2016–2023 (USD Million)
Table 75 RoW: Healthcare Chatbots Market, By Deployment Model, 2016–2023 (USD Million)
Table 76 RoW: Healthcare Chatbots Market, By Application, 2016–2023 (USD Million)
Table 77 RoW: Healthcare Chatbots Market, By End User, 2016–2023 (USD Million)
Table 78 Healthcare Chatbots Market Ranking (2017), By Key Player
Table 79 Agreements and Partnerships (2015–2018)
Table 80 Product Launches (2015–2018)
Table 81 Acquisitions (2015–2018)
Table 82 Expansions (2015–2018)
Table 83 Other Developments (Venture Capital Investments) (2015–2018)
 
 
List of Figures (27 Figures)
 
Figure 1 Research Design
Figure 2 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 3 Market Size Estimation: Bottom-Up Approach
Figure 4 Market Size Estimation: Top-Down Approach
Figure 5 Healthcare Chatbots Market, By Component, 2018 vs 2023 (USD Million)
Figure 6 Healthcare Chatbots Market, By Deployment Model, 2018 vs 2023 (USD Million)
Figure 7 Healthcare Chatbots Market, By Application, 2018 vs 2023 (USD Million)
Figure 8 Healthcare Chatbots Market, By End User, 2018 vs 2023 (USD Million)
Figure 9 North America to Witness Highest Growth Rate During the Forecast Period
Figure 10 Rising Internet Connectivity and Smart Device Adoption is Driving the Growth of the Market
Figure 11 Services Segment to Witness the Highest Growth During the Forecast Period
Figure 12 Cloud-Based Models to Witness the Highest Growth Rate During the Forecast Period
Figure 13 Patients to Be the Largest End-User Segment of the European Healthcare Chatbots in 2018
Figure 14 North America to Witness the Highest Growth During the Forecast Period
Figure 15 Healthcare Chatbots Market: Drivers, Opportunities, and Challenges
Figure 16 Software Segment to Dominate the Healthcare Chatbots  Market in 2018
Figure 17 Cloud-Based Models to Offer Significant Growth Opportunities for Market Players During the Forecast Period
Figure 18 Symptom Checking & Medication Assistance Applications to Dominate the Healthcare Chatbots Market During the Forecast Period
Figure 19 Healthcare Providers to Witness Highest Growth During the Forecast Period
Figure 20 Europe is Estimated to Be the Largest Market for Healthcare Chatbots in 2018
Figure 21 Europe: Healthcare Chatbots Market Snapshot
Figure 22 North America: Healthcare Chatbots Market Snapshot
Figure 23 Asia: Healthcare Chatbots Market Snapshot
Figure 24 RoW: Healthcare Chatbots Market Snapshot
Figure 25 Key Developments in the Healthcare Chatbots Market 2015–2018
Figure 26 Market Evolution Framework
Figure 27 Baidu: Company Snapshot (2017)


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