Healthcare Chatbots Market Size to Hit USD 0.69 Billion by 2030 at 19.50% CAGR – Report by Market Research Future (MRFR)

New York, USA, May 26, 2023 (GLOBE NEWSWIRE) — Healthcare Chatbots Market Overview:

According to a Comprehensive Research Report by Market Research Future (MRFR), “Healthcare Chatbots Market Information by Component, Deployment type, Application, End User and Region – Forecast till 2030”, the market is expected to grow from USD 0.24 Billion in 2023 to USD 0.69 billion by 2030 at CAGR 19.50% during the forecast period (2022 – 2030).

Market Scope:

Patients can get assistance from healthcare chatbots with any questions they may have. With the aid of this program, which makes use of cutting-edge technology, patients can have their small worries addressed. As a result of this development, the clinical team has saved a significant amount of time and can now concentrate more closely on their work. Healthcare chatbots have provided society with a wide range of advantages. Doctors are now easily reachable at the press of a button thanks to the development of healthcare chatbots. Less time and money are now required for unnecessary treatments and examinations. In the end, they are reducing consultation times, readmission rates, and hospital wait times. Healthcare chatbots can even treat patients, removing the need for them to visit a doctor.

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Report Scope:

Report Attribute	Details
Market Size in 2030	USD 0.69 billion
CAGR	19.50%
Base Year	2022
Forecast Period	2023-2030
Historical Data	2021
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Component, Deployment, Application, End-user and Region
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers	Trust towards chatbots by the patients increased downloads of healthcare chatbots
	Rising need for virtual health assist

Healthcare Chatbots Market Competitive Landscape:

The notable players are

• Sensely, Inc. (U.S.)
• MD (U.K.), Buoy Health, Inc. (U.S.)
• Infermedica (Poland), PACT Care BV (The Netherlands)
• HealthTap, Inc. (U.S.)
• Babylon Health (U.K.)
• Ada Health GmbH (Germany)
• Woebot Labs, Inc. (U.S.)
• COM, Inc. (U.S.)

Healthcare Chatbots Market Trends:

Market Drivers

A significant aspect influencing the rise of healthcare chatbots in the global industry is patients’ faith in them. Because of this confidence, there have been a lot more downloads of healthcare chatbots. There has been a change in patient engagement as a result of the development of telemedicine and distant healthcare. The need for these virtual assistants in the healthcare industry has grown as more tasks have been automated utilizing improved technology. In contrast to 36% of doctors who support using them to treat patients, a previous survey indicated that 52% of patients utilize healthcare chatbots to learn about their health.

The market for healthcare chatbots appears to have potential given the rise in the prevalence of chronic diseases and the dearth of skilled workers. Because they can assist with mental health, diagnostics, and patient interaction with outside medical institutions, medical chatbots also have the potential to enhance the healthcare institution. These factors indicate that the market for healthcare chatbots has a bright future.

Market Limitations

Healthcare chatbots are advantageous to the economy, but a variety of problems prevent their global expansion. User privacy is a crucial consideration. Some patients might be reluctant to divulge their personal information to chatbots. Another problem that raises the risk of cyberattacks is a lack of qualified IT personnel in the healthcare industry. The widespread usage of healthcare chatbots is being hampered by these issues.

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COVID-19 Analysis:

People’s lives have been gravely jeopardized by the global COVID 19 outbreak. We learned at COVID 19 that there is a global shortage of medical specialists. The epidemic curve must go up because of rumors and other conspiracies. Digital technologies are now essential for spreading the correct knowledge globally and helping individuals out of this circumstance.

Bridging this gap is necessary due to a knowledge gap in the medical industry. The World Health Organization has also backed this effort to deploy chatbots in digital healthcare. During the COVID 19 epidemic, WHO will have to fork over a sizable sum of money to make healthcare chatbots available in a number of languages. Additionally, this project has allowed for the contact of up to 1 billion individuals worldwide in their own languages.

Healthcare Chatbots Market Segmentation

Component Insights

In 2022, the sector for software healthcare chatbots controlled the bulk of the market. This is primarily attributable to the growing understanding of self-monitoring approaches in diagnosis and management, as well as the rise in smartphone use, which are fueling the expansion of the chatbot software market.

Deployment Type Insights

In addition to dominating the market in 2022, the cloud-based sector is anticipated to develop at a quicker rate from 2020 to 2027. This is as a result of the many advantages that these chatbots offer. For instance, cloud-based chatbots are more accessible, require less initial investment, and may be adjusted less than on-premise chatbots. The aforementioned factors hence encourage the growth of the healthcare chatbot industry. Therefore, increasing deployment types for healthcare chatbots have a beneficial effect on market expansion.

Application Insights

Due to rising internet usage and the amount of patient-accessible medical information, the Symptom Checking & Medication Assistance segment dominated the market in 2022. Furthermore, appointment scheduling & medical guidance is predicted to increase at the quickest rate during the projection period due to the need to reduce patient wait times and utilize healthcare resources effectively.

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Healthcare Chatbots Market Regional Insights:

The market for healthcare chatbots in North America was worth USD 0.092 billion in 2022, and throughout the study period, it is anticipated to rise at a strong CAGR of 45.80%. This is explained by the rise in smart device usage, the expansion of chatbot applications, and the expansion of venture capital financing for the development of cutting-edge chatbots. Additionally, the rise of the North American market for healthcare chatbots is supported by the high patient wait times.

The adoption of virtual assistants and increased knowledge of technological breakthroughs have contributed to the European Union’s highest growth rate of all of these regions. The market for healthcare chatbots is growing steadily in the Americas, thanks to significant investments in artificial intelligence.

Due to technological improvements, the Asia-Pacific region is also expanding quickly, and as the region’s understanding of chatbots increases, a significant growth rate in the healthcare sector is anticipated. China, Japan, and India are all growing quickly.

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