Healthcare Chatbots Market is Booming Market to Grow at Healthy CAGR forecast by

Posted by nileshdbmr on April 1st, 2021

healthcare chatbots market is expected to rise from its initial estimated value of USD 122.0 million to an estimated value of USD 542.3 million by 2026 registering a CAGR of 20.5% in the forecast period of 2020-2026. A chatbot can be defined as an interactive application that utilizes the artificial intelligence and a set of rules to interact with humans using the textual conversation process. It assists the users in various sectors.

Competitive Analysis: Global Healthcare Chatbots Market

The global healthcare chatbots market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of healthcare chatbots market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

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Healthcare sector has been an attractive industry for the companies developing chatbot applications for clinicians and patients. For instance, Your.MD platform provides actionable health information which is based on extremely accurate sources and helps the user to make best choices for their health.

Key Market Competitors: Global Healthcare Chatbots Market

Few of the major market competitors currently working in the healthcare chatbots market are HealthTap, Inc., Anboto, Sensely, Buoy Health, Inc., Infermedica, Babylon, Baidu, Inc., Ada Health GmbH, PACT Care BV, Woebot, GYANT.COM, Inc., Creative Virtual, Your.MD, Synthetix Ltd., Next IT Corp., CX Company, Inbenta Technologies Inc., eGain, Nuance Communications, Inc. and eCreations.

Segmentation: Global Healthcare Chatbots Market

• By Component (Software, Service)
• By Deployment Model (On-premise Model, Cloud-based Model)
• By Application (Diagnosis & medical aid, Appointment scheduling)
• By End-User (Patients, Healthcare Providers, Insurance Companies, Others)
• By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

Market Drivers:

• Rising demand for virtual health assistance is a major factor leading to industry growth
• Constant innovations and technological developments in the industry will act as a major market driver

Market Restraints:

• Increasing concerns related to data privacy is acting as a major restraint for the market
• Lack of knowledge for chatbot development will also hamper the market demand