For several years, Artificial intelligence technology continues to progress across all the industries, including healthcare. Recently, the advent of chats on the internet using chatbots might fuel this technology growth into the businesses. However, Chatbots are already extensively embracing by other industries, particularly retail sector. In the healthcare space, this evolving technology has been gaining a lot of traction and assisting patients to engage with caregivers and payers on an efficient, cost-effective medium like computers and smart devices.
When looking around the facts and figures of the market, the global healthcare chatbots market is predicted to reach USD 316.85 million by 2023, at a growing CAGR of 21.10 percent. In contrast, the global market for Chatbots is expected to account USD 9475.1 million by 2027, from USD 1072.4 million in 2018, at a growing CAGR of 27.9 percent. In the healthcare space, chatbots are poised to handle intricate tasks like personal monitoring, appointment booking, and among others in an efficient approach and boost the productivity of the organization. Due to its huge capabilities, the market is likely to grow in coming years. Moreover, the reduction in cost without compromising on the quality of services has further expedited the adoption of technology in the healthcare sector. Increase of chronic diseases coupled with lack of medical experts to handle queries is the main key factors to drive this market.
With the smartphone-compatible chatbots, players of the healthcare chatbots market are gaining a huge amount of revenue. Additionally, the exponential demand for smartphone devices is anticipated to accelerate the business growth of the global healthcare chatbots market significantly in the coming years. By using chatbots, patients can get a sense of their symptoms when coupled with natural language processing (NLP) and adaptable learning algorithms. Besides this, chatbots can assist them more precisely determine whether they need a visit to the doctor’s office or healthcare locations.