Artificial Intelligence (AI)-Powered Chatbots for Patient Communication Market 2031

Report Description

The global AI-powered chatbots for patient communication market size was USD XX Mn in 2022 and is likely to reach USD XX Mn by 2031, expanding at a CAGR of XX % during 2023–2031. The market growth is attributed to the­­rising adoption of digital healthcare services in the healthcare sector to improve patient care.

The demand for AI-powered chatbots for patient communication is fueled by the growing use of
virtual healthcare to improve patient care.AI-powered chatbots improve patient engagement, accuracy, and consistency in clinical processes to enhance the therapeutic outcome.

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Improving patient care access and remote care has been at the forefront of healthcare sector services. Digital healthcare companies have transformed patient care with artificial intelligence (AI)-powered solutions. AI-powered chatbots for patient communication facilitate powerful conversational AI platforms for patients that helps healthcare professionals to deliver personalized and seamless digital support to users.

The global healthcare AI market is expected to reach almost USD 188 billion by the year 2030 signifying a healthy compound annual growth of 37% from 2022 to 2030.With the rapid annual rapid growth in the healthcare AI market, the usage of AI-powered chatbots is expected to shape the market.

AI-powered chatbots create a meaningful conversation with the patients to understand complexities in the healthcare regime and analyze the vital health statistics that are helpful for doctors.

• For instance, AI chatbots developed by a major player in the digital healthcare Sensely, Inc. best-in-class multilingual symptom assessment tool and visual user interface to power a chatbot that offers one-click access to real-time virtual assistance, patient history, and complete care routines conveniently. Sensely symptom checker integrated into the bots helps patients instantly to check their symptoms.

The market report finds that COVID-19 accelerated the growth of the market due tothe rising adoption of digital technologies in the healthcare sector to improve patient care during the pandemic period. During the pandemic period,patients were flocking to hospitals in huge numbers and healthcare institutions were short-handed. Major healthcare institutions installed chatbots to guide both symptomatic and asymptomatic patients about the testing procedures and precautions to be taken.

AI-powered Chatbots for Patient CommunicationMarket Dynamics

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Drivers

Rising popularity of healthcare apps for diagnosis and treatment recommendations optionsis expected to drive the market. AI-powered chatbots for patient communication applications use natural language processing, machine learning, and large volumes of data to imitate human-like interactions with patients. These advanced features increase the popularity of healthcare apps including chatbots.

• For instance, in June 2023, Fitbit was rated as the top-grossing fitness app with a revenue of USD 6 million from Androidusers.  Moreover, MyFitnessPal was rated as the second-highestrevenue-generating health and fitness app with a revenue of approximately USD 2.55 million.

Rising smartphone penetration and internet connectivity is anticipated to drive the market. Smartphones are used by patients to access patient care services as they are compact and easy to handle. Smartphones help improve effective communication between patients and healthcare professionals, in data collection andfacilitatedecision-making.

• In April 2023, 64.6 % of the population had access to the Internet. Smartphone mobile subscriptions are expected to exceed 7.7 billion by the year 2028.  This trend is likely to fuel the market in the projection period.

Restraints

High stakes of patient care, security, privacy, and regulatory concerns is likely to restrain the market. Data-driven and predictive chatbots rely on authentic data processing to perform tasks efficiently. The chatbots use data inputs from various sources to provide appropriate responses to the patients. Valuable data such as insurance information, payment details, and medical records is highly valuable to cybercriminals.This data is prone to cyberattacks.

According to HIPPA Journal, In the U.S. alone 11 healthcare data breaches were reported of over 1 million records were reported in the year 2022This number signifies the complexity of the data breach issue and by extension rising concerns about data security in AI-powered chatbots for patient communication.

Opportunities

Rising patient preference for utilizing AI-based services to improve patient outcomes and cloud-based AI models is likely to createsignificant opportunities for the market.

• For instance, in March 2023, Fujitsu launched an innovative cloud-based platform named as Fujitsu Uvance to promote personalized healthcare and improvement of medical services. 

Scope of the AI-powered Chatbots for Patient Communication Market Report

The market reportincludes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

AI-powered Chatbots for Patient Communication Segment Insights

Component Segment Analysis

Based on component, the AI-powered chatbots for patient communicationmarket is bifurcated into service and software.The software segment is expected to expand at a significant growth rate during the projection period owing to improved functionality and accuracy provided by chatbots powered by artificial intelligence software systems. Software-based chatbots tend to be more efficient than rule-based chatbots as they are data-driven, predictive, and possess enhanced conversational abilities.

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Deployment Model Segment Analysis

On the basis ofthe deployment model, the global market is divided into on-premise and cloud.The cloud segment is projected to register a considerable CAGR during the forecast period due to the rising adoption of cloud-based AI-powered chatbots for patient communication. The healthcare institutions such as hospitals, clinics, and community centers are often overcrowded. Managing healthcare information becomes a daunting task for healthcare professionals in such scenarios and thus they adopt the cloud-based healthcare IT infrastructure to support the healthcare information and management systems.

Application Segment Analysis

Based onthe application,the AI-powered chatbots for the patient communicationmarket is segmented into appointment booking, symptom check, and medical assistance.Thesymptom check segment is expected to register a robust growth rate during the forecast period owing to the enhanced functionality of AI-powered chatbots to analyze the symptoms of the patient and suggest a health regime accordingly.The AI-powered chatbots assess the information availed through text or voice assistants and diagnose the health parameters of the users.

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The appointment booking segment is anticipated to hold a key share of the market due to the advanced functionality provided by chatbots to improve patient experience. The AI-poweredchatbots reduce the operational costs of scheduling appointments by seamlessly booking, rescheduling, or canceling appointments with healthcare professionals.

End-user Segment Analysis

On the basis ofend-user, the global market is segmented into insurance companies, healthcare providers, and patients. The healthcare providers segment is projected to register a considerable CAGR during the forecast period due to the high adoption of AI-powered chatbots to enhance patient outcomesthrough interaction.AI-powered chatbots help patients in conducting initial assuagement of thehealth condition of the user and schedule appointments with the doctors accordingly.

The insurance companies segment is anticipated to hold a key share of the market due to the convenienceand speed offered by chatbots during claims processing. Chatbots provide automated claim processing without any delays and the information is safely stored in standardized document types.

Regional Outlook

In terms of region, the global AI-powered chatbots for patient communicationmarket is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.North America is expected to dominatethe market during the projection period owing to the rising adoption of digital technologies by patients and healthcare providers.The rising popularity of AI-powered chatbotsfor patient communication in the region is characterized by high internetconnectivity, smartphone penetration, and the presence of key players offering chatbot services in the region.

The market of Europe is anticipated to expand at a rapid pace during the forecast period owing to the deep-rooted consciousness among Europeans about healthcare in the region and supportive government policies. The healthcare institutions in the region are keen on offering digital healthcare services to patients to offer remote patient care in rural areas. This transition has driven the market growth significantly in the region.

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