Research by Global Market Studies has reported a CAGR of 22.4% for the Healthcare Chatbots Market, expecting to expand to a value of USD 7.68 billion by 2028.
The Healthcare Chatbots market comprises companies that use Artificial Intelligence (AI) and Natural Language Processing (NLP) to make chatbots that help patients and healthcare professionals with tasks such as setting up appointments, reminders to take their medications and answering common healthcare questions.
Healthcare Chatbots can be used on many different platforms, like mobile devices, web-based apps and messaging platforms. The market for healthcare chatbots has the potential to change healthcare access by making it more efficient and less expensive.
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Globally, there is a growing need for healthcare services, which has resulted in a scarcity of healthcare workers. By giving people access to healthcare services at any time and from any location, chatbots can help address this shortfall. They can also connect with electronic health records (EHRs) to give healthcare workers access to real-time patient data. As a result, diagnosis and treatment strategies may be more accurate.
Healthcare chatbots can assist to lower the cost of healthcare services by automating mundane tasks like appointment scheduling and prescription reminders. Healthcare personnel may be able to concentrate on more difficult activities as a result.
The development of chatbots that can comprehend and reply to natural language questions is now possible due to improvements in AI and NLP technology and as a result, chatbots are now more useful for delivering healthcare services. Moreover, healthcare chatbots can help to engage patients by giving patients individualized healthcare information and support, which increases patient loyalty and retention.
Emerging economies like Asia-Pacific and Latin America present considerable prospects for the market for healthcare chatbots as well due to their sizable populations, increased demand for healthcare services and increasing acceptance of digital technology.
The creation and use of healthcare chatbots are not yet standardized, which can cause problems with interoperability and make it difficult to integrate chatbots with current healthcare systems because healthcare chatbots need to access private patient information, there may be issues with data privacy and security. To protect patient data, it is important to make sure that chatbots are designed with strong security features.
Misdiagnosis or bad counsel runs the danger of having catastrophic repercussions for patients. When giving medical advice and support, chatbots need to be both accurate and dependable.
Furthermore, there are also worries about the ethical and legal implications of using chatbots for healthcare services, such as data privacy and security, the accuracy of diagnosis and possible liability issues.
• In December 2022, Arkose Labs, a bot management & account security company, opened its new office in San Jose, Costa Rica, giving it a point to service the broader LATAM market and customers globally. The company expects to add 30 more employees in Costa Rica focused on captcha capability, “Arkose Matchkey”, to create challenges designed to meet cyber threats in the future.
• In November 2022, Sony launched a new voice assistant for customer service, “Isha,” in India in partnership with yellow.ai. This voice assistant is a multilingual virtual agent that can handle English, Hindi and Bengali languages to serve the customers by answering questions and connecting them to a human assistant if needed.
IBM Corporation, Amazon Web Services Inc., Microsoft Corporation, Creative Virtual, Google, Alphabet Inc., Babylon Health, HealthTap, Infermedica, Sensely, Your. MD.
1) What is the projected market value of the Healthcare Chatbots Market?
– The Healthcare Chatbots Market is expected to reach a value of USD 7.68 billion by 2028
2) What is the estimated CAGR of the Healthcare Chatbots Market over the 2023 to 2028 forecast period?
– The Healthcare Chatbots Market is expected to grow at a CAGR of approximately 22.4% from 2023 to 2028.
3) Who are the key players in the Healthcare Chatbots Market?
– IBM Corporation, Amazon Web Services Inc., Microsoft Corporation, Creative Virtual, Google, Alphabet Inc., Babylon Health, HealthTap, Infermedica, Sensely, Your.MD.
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