BEIJING, June 29, 2022 /PRNewswire/ -- Infobird Co., Ltd (NASDAQ: IFBD) ("Infobird" or the "Company"), a leading provider of AI-powered customer engagement solutions in China, today announced that it has started to provide services to a leading global pharmaceutical and vaccine manufacturer's subsidiary with operations in China. Under this cooperation, Infobird will leverage its AI Chatbots and experience in the healthcare industry to provide dedicated support for the client's digital and intelligent customer engagement initiative designed to support the client's patient notification process for vaccines including COVID-19, HPV and various childhood vaccines.
As one of the world's leading professional human vaccine development and production companies, this manufacturer has always been committed to producing high quality and safe vaccines so that more children and families are protected by immunization. Infobird's AI Chatbot SaaS product can empower the vaccine manufacturer to provide customers with professional, attentive and convenient vaccination notification services, and therefore comprehensively improve the number of vaccinations and promote the development of preventive immunization. This cooperation is an important step for Infobird to, for the first time, formally provide its AI chatbot to a client to improve patient vaccination notification.
According to Vernoster Sullivan, the global vaccine market size increased from USD 27.5 billion in 2016 to USD 36.5 billion in 2020, accounting for 2.8% of the total global pharmaceutical market, with a CAGR of 7.3%. With increasing vaccine awareness among the population in low- and middle-income countries and rising vaccine penetration, the global vaccine market is expected to reach USD 80.9 billion and USD 136.7 billion by 2025 and 2031, with a CAGR of 17.3% and 9.1%.
In recent years, the share of vaccine products in China's pharmaceutical market has been on the rise. Driven by favorable government policies, technological innovation in vaccines and increased awareness of vaccination, the China vaccine market has increased from RMB27.1 billion in 2016 to RMB75.3 billion in 2020, at a CAGR of 29.10%, and is expected to reach RMB383.5 million in 2031. The market is expected to reach RMB 383.5 million by 2031, growing at a CAGR of 15.95% from 2020 to 2031. China has now become the second largest vaccine market in the world making it essential to optimize the customer service process through digital transformation, expand the market share of Chinese vaccines and improve the customer experience so vaccine R&D and manufacturing companies can better promote and support the patient benefits of immunization.
Under this cooperation, Infobird's intelligent outbound call solution primarily includes AI Chatbot outbound call, which will be responsible for the client's vaccination notification, such as COVID-19 vaccine, HPV vaccine, and various childhood vaccines. The entire process is operated by AI without human involvement, which can help to reduce the staff's burden while improving customer experience and helping the client to increase the vaccination rate. At the same time, since vaccines are one of the most effective measures to prevent and control the COVID-19 epidemic at present, utilizing Infobird's intelligent outbound call method is expected to help the client to notify users of the second and third doses of COVID-19 vaccine in advance, which is expected to largely increase the number of COVID-19 vaccinations for the client.
The service Infobird provides to the client is expected to take place in three phases, with the first phase focusing on intelligent outbound calling for some hospitals/health clinics in several provinces in China. The second and third phases are expected to continue to expand the geographic territory.
As a leading AI SaaS software provider in China, Infobird is committed to making enterprise customer engagement development more personalized and intelligent. Infobird's solutions for the healthcare industry have been applied in many large leading enterprises such as the healthcare brand Taikang Health Investment, and cover multiple business scenarios such as customer service, helping enterprises to promote the digital transformation of customer interaction, improve customer experience, and thus achieve cost reduction and efficiency. In the future, the healthcare industry will continue to be a key area of focus for Infobird, and the company will continue to promote intelligent standard SaaS products and technologies according to market demand, penetrate digitalization into more healthcare service scenarios, and continue to energize the development of the healthcare economy with intelligent technologies.
About Infobird Co., Ltd
Infobird, headquartered in Beijing, China, is a software-as-a-service provider of innovative AI-powered, or artificial intelligence enabled, customer engagement solutions in China. For more information, visit Infobird's website at www.Infobird.com.
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "will, "future," "expects," "believes," and "intends," or similar expressions, are intended to identify forward-looking statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events, results, conditions or performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date they are made. In evaluating such statements, investors and prospective investors should review carefully various risks and uncertainties and other matters identified in the Company's filings with the U.S. Securities and Exchange Commission. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
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