Global Healthcare Chatbots Market Research Report: Forecast (2024-2030)

Market Definition

A healthcare chatbot is the outcome of artificial intelligence’s integration with medical expertise. A healthcare chatbot is a software application that can hold a real-time conversation with a human using artificial intelligence. They can interpret and answer a patient's questions by implementing natural language processing and machine learning algorithms. These chatbots can interact through speech or text. Modern healthcare chatbots are transforming patient care and administrative tasks for clinics and hospitals.

Market Insights & Analysis: Global Healthcare Chatbots Market (2024-30):

The Global Healthcare Chatbots Market size was valued at around USD 295 million in 2023 & is estimated to grow at a CAGR of around 19.5% during the forecast period, i.e., 2024-30. The growth of the healthcare chatbots industry is primarily fueled by the demand for the 24x7 availability of healthcare. The primary function of chatbots in the healthcare market is to relieve the workload on healthcare professionals. These chatbots are powered by artificial intelligence and use natural language processing and machine learning algorithms to accurately interpret patients' queries and provide a suitable response. They can also help automate repetitive administrative tasks to reduce the workload on healthcare personnel and give them time to focus on more important matters.

The chatbots available in the market can streamline patient onboarding, appointment management, billing, and insurance-related processes, simplifying patients' experience significantly. The healthcare chatbots can be integrated with EHRs (electronic health records) to make record retrieval quick, these chatbots provide round-the-clock services to patients and healthcare personnel. These benefits of chatbots in healthcare are fueling the healthcare chatbots market growth & expansion.

Additionally, the fast pace of life raises the demand for quick resolution of problems, this makes the chatbots very desirable as they are trained with medical expertise. Symptom identification, post-diagnostic education, and many other applications of chatbots in healthcare are increasing their popularity. People can just go to a medical chatbot online, get answers, and decide if they need further treatment from a doctor.

Moreover, the chatbot market has been growing rapidly owing to the growing adoption of smart devices and increasing internet coverage. Healthcare chatbot made it possible to get accurate diagnoses without running to the doctor and waiting for appointments. Chatbots save time for doctors as they don’t have to answer repetitive questions. All these positive factors are augmenting the size & volume of the Global Healthcare Chatbots Market.

Global Healthcare Chatbots Market Driver:

Growing Use of Smart Devices to Drive the Market – In this digital era, most of the world is connected via the internet and have a smart device on their person. These smart devices can be used for various purposes and healthcare has become one of them. AI-powered chatbots that can engage people through speech or text and provide solutions. With healthcare chatbots, people can analyze their symptoms on the go and get guidance as to what level of care they require. They can manage appointments, and medication, educate themselves, and much more using these medical chatbots with just a few taps or simply asking the question at any time. This ease and simplification is raising the acceptance of the best healthcare chatbots, ultimately augmenting the revenue growth of the healthcare chatbots industry globally.

Global Healthcare Chatbots Market Opportunity:

Integration of Advance Technologies to Provide Ample Opportunities – With technological advancements, more and more practitioners are using online channels to provide healthcare services. This created a need for engaging customers efficiently and streamlining the whole process from initial contact to onboarding and diagnosis. Due to the availability of advanced chatbots in the market such as Google Medical AI chatbot, healthcare professionals are performing their duties easily & effectively. There are still ample opportunities for growth & expansion for the leading market players that they can grab through innovation and advancement. Improving accuracy and security can be the first step as people are still hesitant to give their personal information away to Chatbots. Thus, through integrating advanced tools & technologies, market players can take advantage of available market opportunities.

Global Healthcare Chatbots Market Challenge:

Data Privacy & Accuracy Challenging Market Progression – While the chatbots are useful and efficient there is still a threat to the privacy of patients’ data. Healthcare Chatbots require patients’ information and medical history to provide accurate solutions or guidance, to facilitate this, Chatbots are being integrated into EHRs (electronic health records). This can leave the patient vulnerable to privacy breaches. Chatbot developers need to focus on the data privacy aspect of the bot while developing the algorithms and models. The Accuracy of the answers given by healthcare Chatbots can also be questioned as the chatbot may not know or understand all the factors related to a patient’s condition.

Global Healthcare Chatbots Market Trend:

Rising Trend of Remote Patient Monitoring – With aging population and spread of chronic ailments as well as recent outbreaks of communicable diseases have given rise to the demand for remote patient diagnosis and monitoring. People want to be able to get medical advice from their homes, and with support from technological advancement and the innovation of Chatbots, this is possible. With the growing need, the acceptance of healthcare Chatbots is increasing pushing the healthcare chatbots industry forward. With the help of Chatbots, getting a diagnosis or patient care becomes easier for those who may find it difficult to visit the doctor personally or may not want to go.

Global Healthcare Chatbots Market (2024-30): Segmentation Analysis

The Global Healthcare Chatbots Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2024–2030 at the global level. Based on the analysis, the market has been further classified as:

Based on Component:

• Software
• Service

Based on components, the market is divided into two segments, software and service. The software segment holds the larger Global Healthcare Chatbots Market share among the two. The healthcare chatbot market is growing rapidly given the high demand for the software segment. By embedding artificial intelligence-based chatbots healthcare providers can transform patient engagement and experience and streamline and automate various repetitive and simple tasks such as appointment management, answering frequently asked questions, collecting and retrieving data, and others. Using natural language processing and machine learning models, these chatbots can respond to complicated questions as well, as they become more intuitive and efficient. Healthcare chatbots can reduce the growing burden on healthcare personnel and save time to focus on critical care, chatbots can categorize and identify patients who need priority care based on their symptoms. This functionality is expected to fuel the segmental revenue during the forecast period as well.

Based on Deployment Mode:

• On-premise
• Cloud Based

The cloud service sector has been growing dramatically due to its cost efficiency and easy deployment. This is the primary reason why cloud-based healthcare chatbots hold the largest market share. The low initial cost and scalability make it a more viable option. The scale can be changed according to the requirement and resources can be allocated accordingly. This reduced capital cost and flexibility is the reason behind the high demand for the segment. Cloud-based deployment also ensures data security and recovery in unfavorable circumstances. It also gives access to data from remote locations which makes it more facilitating. However, the on-premise demand is showing potential for growth during the forecast period as the rising concerns regarding data privacy.  While the Cloud-based deployment stores data on third-party servers in remote locations, on-premise deployment stores data locally, making the access restricted, making the on-premise deployment method more suitable for securing sensitive user data from any privacy breach.

Global Healthcare Chatbots Market (2024-30): Regional Projections

Geographically, the Global Healthcare Chatbots Market expands across:

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

North America is the largest market for healthcare chatbots owing to its developed infrastructure and technology. The presence of leading artificial intelligence and natural language processing model developers is a major factor in making North America the largest holder of the healthcare chatbots market share. The region has been the global leader in adopting digital technologies, which makes North America a preferable market for leading market players. Additionally, the rising cost of healthcare has left people looking for a more affordable and accessible alternative, raising the demand for healthcare chatbots in the region. High healthcare cost is a factor that will drive the growth of healthcare chatbots in other regions as well.

Moreover, the Asia-Pacific region is predicted to witness faster growth in the use of healthcare chatbots. This is expected given the large and still growing population, increasing smartphone penetration, and internet availability. A large population translates to more burden on the healthcare system and limited access, chatbots in the healthcare market can be an accessible and efficient alternative for primary healthcare benefitting both the healthcare system and patients by reducing the burden and providing quick healthcare guidance.

Global Healthcare Chatbots Industry Recent Development:

• June 2024: Mediktor, the leading digital healthcare company, has announced the acquisition of Sensely, a San Francisco-based, digital healthcare provider that pioneered an empathy-driven conversation platform to support hospital systems and insurance services with world-class member engagement.
• September 2023: The National Department of Health in South Africa (NDOH), non-profit organization Reach Digital Health (formerly Praekelt.org), and global digital health company Ada Health (‘Ada’) announced the integration of Ada’s intelligent symptom-assessment technology with South Africa’s MomConnect Mobile Maternal Health platform via WhatsApp.

Gain a Competitive Edge with Our Global Healthcare Chatbots Market Report

1. Global Healthcare Chatbots Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of market dynamics & make informed decisions.
2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
3. Global Healthcare Chatbots Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.