May 18, 2024

Healthcare Chatbots Market Is Expected To Be Flourished By Growing Adoption Of AI-Powered Healthcare Chatbots

Healthcare chatbots are AI-enabled software applications that interact with patients through various communication channels such as websites, mobile applications or messaging platforms. Chatbots help address common patient queries by providing information about diseases, treatments, nearby clinics, appointment booking and prescription refills among others. They also help streamline administrative workflows in healthcare organizations by automating tasks such as appointment scheduling, insurance verification and claims management. Some popular uses of healthcare chatbots include symptom checking, medical consultation, mental health screening, home healthcare and post-discharge care.

The global Healthcare Chatbots Market is estimated to be valued at US$ 264.96 Billion in 2024 and is expected to exhibit a CAGR Of 7.0% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Growing adoption of AI-powered healthcare chatbots: Widespread adoption of AI technologies along with increasing integration of chatbots and virtual assistants in healthcare apps and websites is a major factor driving market growth. AI-enabled chatbots can analyze massive amounts of unstructured medical data to provide personalized and timely healthcare assistance to patients. They also reduce workload pressures on healthcare staff.

Rising popularity of virtual healthcare: Restrictions imposed during the COVID-19 pandemic highlighted the value of telehealth and virtual care solutions. The pandemic accelerated adoption of chatbots, as they enable non-contact healthcare delivery. Going forward, virtual care models supported by AI chatbots are expected to continue growing in popularity as they provide improved access to care while lowering costs for patients and providers.

 

Segment Analysis

 

Healthcare Chatbots market is segmented into Symptom checking, Medication Assistance, and Appointment Scheduling. The Symptom checking segment accounts for the largest market share and is expected to dominate the market during the forecast period. This is because symptom checking chatbots help patients check their symptoms without visiting doctors in person and reduce the burden on healthcare facilities.

PEST Analysis

Political: Government initiatives to increase accessibility and affordability of healthcare is driving growth. Regulations on use of personal health data influence technology adoption.

Economic: Rising healthcare costs and shortage of medical professionals is prompting facilities to implement chatbots to improve efficiency.

Social: Growing preference for virtual healthcare and online consultation among patients boosts demand. Younger population is comfortable with technology driven solutions.

Technological: Advancement in AI, NLP, and virtual assistance is enhancing capabilities of chatbots. Integration of chatbots with EMR systems facilitates improved patient experience and care.

Key Takeaways

The Global Healthcare Chatbots Market Demand is expected to witness high growth during the forecast period of 2024 to 2031. The global healthcare chatbots market is estimated to be valued at US$ 264.96 billion in 2024 and is expected to exhibit a CAGR of 7.0% over the forecast period 2024 to 2031.

Regional analysis:

 

North America accounts for the largest market share currently due to high technology adoption and presence of key players in the region. Asia Pacific is expected to grow at the fastest pace considering increasing investments to develop healthcare infrastructure and growing healthcare spending.

Key players:

 

Key players operating in the Healthcare Chatbots market are Ironscales, Cofense (PhishMe), Infosec Institute, KnowBe4, PhishLabs, Wombat Security Technologies, Barracuda Networks, Mimecast, Proofpoint, CyberFish, DataEndure, FireEye, Smooth Phish, Votiro, XM Cyber, Lucidworks, Digital Defense, Getlabs, Avanan, Greathorn. Ironscales, KnowBe4 and Mimecast are among the leading players due to their comprehensive product portfolios for targeted phishing protection, awareness and simulation training, and email security.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it