Healthcare Chatbots Market Opportunities 2031
Chatbots, also known as talk bots, are AI-powered self-service virtual employees that are programmed to provide consumers with a personalised virtual assistant. Healthcare chatbots are designed to help people with medical issues. Pre-calculated sentences in the form of messages are used to carry out the dialogue. Users can use these chatbots to track symptoms, find hospitals, and schedule appointments using cloud-based or on-premise software. Chatbots can be combined with a range of technologies, including mobile devices, web browsers, and other apps, to relieve medical professionals of their duties and allow them to focus on their responsibilities.
MARKET SCOPE
The "Global Healthcare Chatbots Market Analysis to 2031" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the healthcare chatbots market with detailed market segmentation by component, deployment model, application and end user. The report provides key statistics on the market status of the leading healthcare chatbots market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on component the market is segmented as, software and service.
- Based on deployment model the market is segmenetd as, cloud, on-premise.
- Based on application the market is segmented as symptom check, medical assistance, appointment booking.
- Based on end user the market is segmented as, patient, healthcare providers, insurance companies.
MARKET DYNAMICS
Drivers:
- Growing penetration of IT and adoption of smart devices in healthcare is the key driving factor for the market growth.
- Increasing adoption of AI and rising demand for virtual healthcare is also expected to spur market growth.
- Technological breakthrough in healthcare systems such as adoption of wireless devices, smart health solutions, machine learning are likely to create significant opportunities for the market.
Restraints:
- However, the lack of security standards and danger of data loss are likely to restrain market growth during the forecast period.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The healthcare chatbots market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the healthcare chatbots market in these regions.
IMPACT OF COVID-19ON HEALTHCARE CHATBOTS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. According to the current market situation, the report further assesses the present and future effects of the COVID-19 pandemic on the overall market, giving more reliable and authentic projections In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The healthcare chatbots market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the healthcare chatbots market in these regions.
IMPACT OF COVID-19ON HEALTHCARE CHATBOTS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. According to the current market situation, the report further assesses the present and future effects of the COVID-19 pandemic on the overall market, giving more reliable and authentic projections In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the healthcare chatbots market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from healthcare chatbots market are anticipated to lucrative growth opportunities in the future with the rising demand for healthcare chatbots in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the healthcare chatbots market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Your.MD Ltd. UK
- Healthtap, Inc.
- Sensely, Inc.
- Buoy Health, Inc
- Infermedica
- Babylon
- GYANT.Com, Inc
- Ada Health GmbH
- PACT Care BV
- Woebot Health
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Healthcare Chatbots Market - By Component
1.3.2 Healthcare Chatbots Market - By Deployment Model
1.3.3 Healthcare Chatbots Market - By Application
1.3.4 Healthcare Chatbots Market - By End User
1.3.5 Healthcare Chatbots Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. HEALTHCARE CHATBOTS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. HEALTHCARE CHATBOTS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. HEALTHCARE CHATBOTS MARKET - GLOBAL MARKET ANALYSIS
6.1. HEALTHCARE CHATBOTS - GLOBAL MARKET OVERVIEW
6.2. HEALTHCARE CHATBOTS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. HEALTHCARE CHATBOTS MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. SOFTWARE
7.3.1. Overview
7.3.2. Software Market Forecast and Analysis
7.4. SERVICE
7.4.1. Overview
7.4.2. Service Market Forecast and Analysis
8. HEALTHCARE CHATBOTS MARKET - REVENUE AND FORECASTS TO 2028 - DEPLOYMENT MODEL
8.1. OVERVIEW
8.2. DEPLOYMENT MODEL MARKET FORECASTS AND ANALYSIS
8.3. CLOUD
8.3.1. Overview
8.3.2. Cloud Market Forecast and Analysis
8.4. ON-PREMISE
8.4.1. Overview
8.4.2. On-Premise Market Forecast and Analysis
9. HEALTHCARE CHATBOTS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. SYMPTOM CHECK
9.3.1. Overview
9.3.2. Symptom Check Market Forecast and Analysis
9.4. MEDICAL ASSISTANCE
9.4.1. Overview
9.4.2. Medical Assistance Market Forecast and Analysis
9.5. APPOINTMENT BOOKING
9.5.1. Overview
9.5.2. Appointment Booking Market Forecast and Analysis
10. HEALTHCARE CHATBOTS MARKET - REVENUE AND FORECASTS TO 2028 - END USER
10.1. OVERVIEW
10.2. END USER MARKET FORECASTS AND ANALYSIS
10.3. PATIENT
10.3.1. Overview
10.3.2. Patient Market Forecast and Analysis
10.4. HEALTHCARE PROVIDERS
10.4.1. Overview
10.4.2. Healthcare Providers Market Forecast and Analysis
10.5. INSURANCE COMPANIES
10.5.1. Overview
10.5.2. Insurance Companies Market Forecast and Analysis
11. HEALTHCARE CHATBOTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Healthcare Chatbots Market Overview
11.1.2 North America Healthcare Chatbots Market Forecasts and Analysis
11.1.3 North America Healthcare Chatbots Market Forecasts and Analysis - By Component
11.1.4 North America Healthcare Chatbots Market Forecasts and Analysis - By Deployment Model
11.1.5 North America Healthcare Chatbots Market Forecasts and Analysis - By Application
11.1.6 North America Healthcare Chatbots Market Forecasts and Analysis - By End User
11.1.7 North America Healthcare Chatbots Market Forecasts and Analysis - By Countries
11.1.7.1 United States Healthcare Chatbots Market
11.1.7.1.1 United States Healthcare Chatbots Market by Component
11.1.7.1.2 United States Healthcare Chatbots Market by Deployment Model
11.1.7.1.3 United States Healthcare Chatbots Market by Application
11.1.7.1.4 United States Healthcare Chatbots Market by End User
11.1.7.2 Canada Healthcare Chatbots Market
11.1.7.2.1 Canada Healthcare Chatbots Market by Component
11.1.7.2.2 Canada Healthcare Chatbots Market by Deployment Model
11.1.7.2.3 Canada Healthcare Chatbots Market by Application
11.1.7.2.4 Canada Healthcare Chatbots Market by End User
11.1.7.3 Mexico Healthcare Chatbots Market
11.1.7.3.1 Mexico Healthcare Chatbots Market by Component
11.1.7.3.2 Mexico Healthcare Chatbots Market by Deployment Model
11.1.7.3.3 Mexico Healthcare Chatbots Market by Application
11.1.7.3.4 Mexico Healthcare Chatbots Market by End User
11.2. EUROPE
11.2.1 Europe Healthcare Chatbots Market Overview
11.2.2 Europe Healthcare Chatbots Market Forecasts and Analysis
11.2.3 Europe Healthcare Chatbots Market Forecasts and Analysis - By Component
11.2.4 Europe Healthcare Chatbots Market Forecasts and Analysis - By Deployment Model
11.2.5 Europe Healthcare Chatbots Market Forecasts and Analysis - By Application
11.2.6 Europe Healthcare Chatbots Market Forecasts and Analysis - By End User
11.2.7 Europe Healthcare Chatbots Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Healthcare Chatbots Market
11.2.7.1.1 Germany Healthcare Chatbots Market by Component
11.2.7.1.2 Germany Healthcare Chatbots Market by Deployment Model
11.2.7.1.3 Germany Healthcare Chatbots Market by Application
11.2.7.1.4 Germany Healthcare Chatbots Market by End User
11.2.7.2 France Healthcare Chatbots Market
11.2.7.2.1 France Healthcare Chatbots Market by Component
11.2.7.2.2 France Healthcare Chatbots Market by Deployment Model
11.2.7.2.3 France Healthcare Chatbots Market by Application
11.2.7.2.4 France Healthcare Chatbots Market by End User
11.2.7.3 Italy Healthcare Chatbots Market
11.2.7.3.1 Italy Healthcare Chatbots Market by Component
11.2.7.3.2 Italy Healthcare Chatbots Market by Deployment Model
11.2.7.3.3 Italy Healthcare Chatbots Market by Application
11.2.7.3.4 Italy Healthcare Chatbots Market by End User
11.2.7.4 Spain Healthcare Chatbots Market
11.2.7.4.1 Spain Healthcare Chatbots Market by Component
11.2.7.4.2 Spain Healthcare Chatbots Market by Deployment Model
11.2.7.4.3 Spain Healthcare Chatbots Market by Application
11.2.7.4.4 Spain Healthcare Chatbots Market by End User
11.2.7.5 United Kingdom Healthcare Chatbots Market
11.2.7.5.1 United Kingdom Healthcare Chatbots Market by Component
11.2.7.5.2 United Kingdom Healthcare Chatbots Market by Deployment Model
11.2.7.5.3 United Kingdom Healthcare Chatbots Market by Application
11.2.7.5.4 United Kingdom Healthcare Chatbots Market by End User
11.2.7.6 Rest of Europe Healthcare Chatbots Market
11.2.7.6.1 Rest of Europe Healthcare Chatbots Market by Component
11.2.7.6.2 Rest of Europe Healthcare Chatbots Market by Deployment Model
11.2.7.6.3 Rest of Europe Healthcare Chatbots Market by Application
11.2.7.6.4 Rest of Europe Healthcare Chatbots Market by End User
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Healthcare Chatbots Market Overview
11.3.2 Asia-Pacific Healthcare Chatbots Market Forecasts and Analysis
11.3.3 Asia-Pacific Healthcare Chatbots Market Forecasts and Analysis - By Component
11.3.4 Asia-Pacific Healthcare Chatbots Market Forecasts and Analysis - By Deployment Model
11.3.5 Asia-Pacific Healthcare Chatbots Market Forecasts and Analysis - By Application
11.3.6 Asia-Pacific Healthcare Chatbots Market Forecasts and Analysis - By End User
11.3.7 Asia-Pacific Healthcare Chatbots Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Healthcare Chatbots Market
11.3.7.1.1 Australia Healthcare Chatbots Market by Component
11.3.7.1.2 Australia Healthcare Chatbots Market by Deployment Model
11.3.7.1.3 Australia Healthcare Chatbots Market by Application
11.3.7.1.4 Australia Healthcare Chatbots Market by End User
11.3.7.2 China Healthcare Chatbots Market
11.3.7.2.1 China Healthcare Chatbots Market by Component
11.3.7.2.2 China Healthcare Chatbots Market by Deployment Model
11.3.7.2.3 China Healthcare Chatbots Market by Application
11.3.7.2.4 China Healthcare Chatbots Market by End User
11.3.7.3 India Healthcare Chatbots Market
11.3.7.3.1 India Healthcare Chatbots Market by Component
11.3.7.3.2 India Healthcare Chatbots Market by Deployment Model
11.3.7.3.3 India Healthcare Chatbots Market by Application
11.3.7.3.4 India Healthcare Chatbots Market by End User
11.3.7.4 Japan Healthcare Chatbots Market
11.3.7.4.1 Japan Healthcare Chatbots Market by Component
11.3.7.4.2 Japan Healthcare Chatbots Market by Deployment Model
11.3.7.4.3 Japan Healthcare Chatbots Market by Application
11.3.7.4.4 Japan Healthcare Chatbots Market by End User
11.3.7.5 South Korea Healthcare Chatbots Market
11.3.7.5.1 South Korea Healthcare Chatbots Market by Component
11.3.7.5.2 South Korea Healthcare Chatbots Market by Deployment Model
11.3.7.5.3 South Korea Healthcare Chatbots Market by Application
11.3.7.5.4 South Korea Healthcare Chatbots Market by End User
11.3.7.6 Rest of Asia-Pacific Healthcare Chatbots Market
11.3.7.6.1 Rest of Asia-Pacific Healthcare Chatbots Market by Component
11.3.7.6.2 Rest of Asia-Pacific Healthcare Chatbots Market by Deployment Model
11.3.7.6.3 Rest of Asia-Pacific Healthcare Chatbots Market by Application
11.3.7.6.4 Rest of Asia-Pacific Healthcare Chatbots Market by End User
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Healthcare Chatbots Market Overview
11.4.2 Middle East and Africa Healthcare Chatbots Market Forecasts and Analysis
11.4.3 Middle East and Africa Healthcare Chatbots Market Forecasts and Analysis - By Component
11.4.4 Middle East and Africa Healthcare Chatbots Market Forecasts and Analysis - By Deployment Model
11.4.5 Middle East and Africa Healthcare Chatbots Market Forecasts and Analysis - By Application
11.4.6 Middle East and Africa Healthcare Chatbots Market Forecasts and Analysis - By End User
11.4.7 Middle East and Africa Healthcare Chatbots Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Healthcare Chatbots Market
11.4.7.1.1 South Africa Healthcare Chatbots Market by Component
11.4.7.1.2 South Africa Healthcare Chatbots Market by Deployment Model
11.4.7.1.3 South Africa Healthcare Chatbots Market by Application
11.4.7.1.4 South Africa Healthcare Chatbots Market by End User
11.4.7.2 Saudi Arabia Healthcare Chatbots Market
11.4.7.2.1 Saudi Arabia Healthcare Chatbots Market by Component
11.4.7.2.2 Saudi Arabia Healthcare Chatbots Market by Deployment Model
11.4.7.2.3 Saudi Arabia Healthcare Chatbots Market by Application
11.4.7.2.4 Saudi Arabia Healthcare Chatbots Market by End User
11.4.7.3 U.A.E Healthcare Chatbots Market
11.4.7.3.1 U.A.E Healthcare Chatbots Market by Component
11.4.7.3.2 U.A.E Healthcare Chatbots Market by Deployment Model
11.4.7.3.3 U.A.E Healthcare Chatbots Market by Application
11.4.7.3.4 U.A.E Healthcare Chatbots Market by End User
11.4.7.4 Rest of Middle East and Africa Healthcare Chatbots Market
11.4.7.4.1 Rest of Middle East and Africa Healthcare Chatbots Market by Component
11.4.7.4.2 Rest of Middle East and Africa Healthcare Chatbots Market by Deployment Model
11.4.7.4.3 Rest of Middle East and Africa Healthcare Chatbots Market by Application
11.4.7.4.4 Rest of Middle East and Africa Healthcare Chatbots Market by End User
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Healthcare Chatbots Market Overview
11.5.2 South and Central America Healthcare Chatbots Market Forecasts and Analysis
11.5.3 South and Central America Healthcare Chatbots Market Forecasts and Analysis - By Component
11.5.4 South and Central America Healthcare Chatbots Market Forecasts and Analysis - By Deployment Model
11.5.5 South and Central America Healthcare Chatbots Market Forecasts and Analysis - By Application
11.5.6 South and Central America Healthcare Chatbots Market Forecasts and Analysis - By End User
11.5.7 South and Central America Healthcare Chatbots Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Healthcare Chatbots Market
11.5.7.1.1 Brazil Healthcare Chatbots Market by Component
11.5.7.1.2 Brazil Healthcare Chatbots Market by Deployment Model
11.5.7.1.3 Brazil Healthcare Chatbots Market by Application
11.5.7.1.4 Brazil Healthcare Chatbots Market by End User
11.5.7.2 Argentina Healthcare Chatbots Market
11.5.7.2.1 Argentina Healthcare Chatbots Market by Component
11.5.7.2.2 Argentina Healthcare Chatbots Market by Deployment Model
11.5.7.2.3 Argentina Healthcare Chatbots Market by Application
11.5.7.2.4 Argentina Healthcare Chatbots Market by End User
11.5.7.3 Rest of South and Central America Healthcare Chatbots Market
11.5.7.3.1 Rest of South and Central America Healthcare Chatbots Market by Component
11.5.7.3.2 Rest of South and Central America Healthcare Chatbots Market by Deployment Model
11.5.7.3.3 Rest of South and Central America Healthcare Chatbots Market by Application
11.5.7.3.4 Rest of South and Central America Healthcare Chatbots Market by End User
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. HEALTHCARE CHATBOTS MARKET, KEY COMPANY PROFILES
13.1. YOUR.MD LTD. UK
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. HEALTHTAP, INC.
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. SENSELY, INC.
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. BUOY HEALTH, INC
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. INFERMEDICA
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. BABYLON
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. GYANT.COM, INC
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. ADA HEALTH GMBH
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. PACT CARE BV
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. WOEBOT HEALTH
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Your.MD Ltd. UK
2. Healthtap, Inc.
3. Sensely, Inc.
4. Buoy Health, Inc
5. Infermedica
6. Babylon
7. GYANT.Com, Inc
8. Ada Health GmbH
9. PACT Care BV
10. Woebot Health
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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