Healthcare Chatbots Market | Business Overview

The growth of the healthcare chatbots management market can be attributed to rising Internet connectivity and adoption of smart devices, and the need for virtual assistance.

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"Growing adoption of smartphones 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 healthcare chatbot solutions market.

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Top Industry 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).

Various prominent players are focusing on adopting inorganic growth strategies such as agreements and partnerships to ensure sustainability and growth in this highly competitive market. This helps companies operating in the market enhance their product portfolio, expand their customer base, and cater to the unmet demands of their customers.

Some of the recent developments in this regard are listed below:

· In June 2018, Bupa, an insurance provider, entered into a partnership with Babylon to provide artificial intelligence-powered health services to all its corporate business clients. End-users can access around-the-clock health advice through Bupa in the UK.

· In May 2018, Your. MD entered into a partnership with BMJ Best Practice. According to the partnership, the medical data used by Your.MD’s AI algorithms will be validated by BMJ best practices to provide data accuracy to users.

· In May 2018, Sensely entered into a partnership with NAS to deploy Sensely's virtual health assistant technology to the NAS member ecosystem as a means of boosting engagement and providing a more efficient communication channel.

The overall healthcare chatbots market is projected to reach $314.3 million by 2023 from $122.0 million by 2018, at a CAGR of 20.8% during the forecast period.