Los Angeles, CA -- (SBWire) -- 09/04/2019 --The global healthcare chatbots market is expected to benefit from rising need for remote patient monitoring and to increase patient access to critical healthcare information. Healthcare providers use healthcare chatbots for remote medical diagnosis and prescribing treatments and medications to patients at home or remotely located. Healthcare chatbots also help in simplifying healthcare reimbursement and insurance claim procedures. Yet, there are more factors anticipated to provide growth to the global market.
Growing interest of giant tech companies in developing AI tools and virtual assistants for the healthcare industry is predicted to improve the demand for healthcare chatbots. In July 2019, Microsoft formed a strategic alliance with Providence St. Joseph Health to advance digital healthcare transformation. This partnership is expected to give a strong push to Microsoft's new HIPAA-compliant secure communications tools built on its Azure cloud platform. These tools can be used to develop healthcare chatbots and healthcare-oriented virtual assistants.
Need for Virtual Assistance in Healthcare to Contribute to Rise in Demand
Growing requirement of virtual assistance in the healthcare industry is expected to create rewarding sales opportunities for healthcare chatbot companies. Rising adoption of smart technology in healthcare could be a leading factor helping with the growth of the global healthcare chatbots market. Increasing internet connectivity in developing regions is anticipated to support the global market growth in future. Addition of advanced features such as application programming interface, multilingual capabilities, and natural language processing is predicted to increase the adoption of healthcare chatbots.
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Collaboration with Healthcare Providers to Help Players Increase Brand Visibility
Some of the key players of the global healthcare chatbots market are Your.MD Limited, GYANT.COM, INC., Baidu, Inc., Woebot Labs, Inc., and Buoy Health, Inc. Vendors are predicted to launch new products and upgrade their existing technologies to strengthen their market presence. High investment in research and development is another business strategy that vendors could adopt to achieve a position of strength in the global market. In August 2019, Babylon Health, a UK-based telehealth chatbot provider, raised around $550 million in Series C funding led by Saudi Arabia's Public Investment Fund. The funding will help the startup to add to its AI capabilities and further expand into the US and Asia markets.
By Deployment
? On-premise
? Cloud-based
By Application
? Appointment Management
? Symptom Checking
? Coverage and Claims Management
? Medication Assistance and Guidance
By End User
? Patients
? Healthcare Providers
? Healthcare Payers
By Region
Trailed by North America, Europe is foreseen to exhibit strong growth in the global healthcare chatbots market. Increasing awareness about the benefits of using healthcare chatbots could be one of the leading factors augmenting the demand in Europe. High use of healthcare chatbots and growing number of partnerships and collaborations between vendors and healthcare institutions are expected to further push the market growth in Europe. According to market experts, adoption of healthcare chatbots is relatively slower in developing countries.
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Healthcare Chatbots Depth Analysis and Forecast by Top Manufacturers Are GYANT.COM, Baidu Inc., Woebot Labs