NLP in Healthcare and Life Sciences Market by Component (Solutions and Services), NLP Type (Statistical, Hybrid), NLP Technique (IVR, OCR), Application (Clinical Trail Matching, Drug Discovery), End Users and Region - Global Forecast to 2027
Description
NLP in Healthcare and Life Sciences Market by Component (Solutions and Services), NLP Type (Statistical, Hybrid), NLP Technique (IVR, OCR), Application (Clinical Trail Matching, Drug Discovery), End Users and Region - Global Forecast to 2027
The NLP in healthcare and life sciences market size to grow from USD 2.2 billion in 2022 to USD 7.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 27.1% during the forecast period. Various factors such as increasing demand of predictive analytics technology to reduce risks and improve significant health concerns, and need for improving EHR data usability are expected to drive the adoption of NLP solutions in healthcare and life sciences market.
NLP solutions in healthcare contribute to effective interactions between care users and healthcare-related IT tools. Additionally, this makes it simple for various healthcare professionals to obtain health data and make defensible decisions. The contribution that NLP makes to the quality of care for healthcare organisations is another crucial advantage because these solutions provide efficient ways to gauge the quality of care and develop it accordingly. The primary drivers of the growth of the NLP in the healthcare and life sciences industry are the enormous expansion in healthcare data and the steadily rising number of mobile apps and loT devices.
The emergence of cognitive computing also helps boost the demand for NLP in the healthcare and life sciences market for precision medicine applications. Additionally, this is anticipated to open up potential prospects for the NLP in the healthcare and life sciences industry as a whole. The overall expansion of the NLP in the healthcare and life sciences market is nevertheless constrained by the ongoing rise in regulatory compliance, privacy issues, and data security concerns, particularly during COVID-19. Due to the benefit of processing clinical records in bulk, clinical NLP has enormous potential. Due to the stringent data access regulations for academics, this potential has, however, mostly gone unrealized. Data privacy has continued to be a significant barrier to Al adoption by organizations.
The solutions segment to register for the largest market size during the forecast period
Based on component, the NLP in healthcare and life sciences market is segmented into solutions and services. The market size of the solutions segment is estimated to be the largest during the forecast period. These solutions can be further bifurcated into clinical variation management, population health management, counter fraud management, and other solutions including risk & compliance management, claim management, and patient care & safety software.
NLP solutions enable healthcare companies to find hidden insights and connections to boost innovation, improve patient outcomes, increase efficiency, and reduce costs. NLP solution providers compete to increase their market coverage and expand their presence in newer markets.
The sentiment analysis application to account for the largest market size during the forecast period
Based on applications, the NLP in healthcare and life sciences market is segmented into sentiment analysis, drug discovery, clinical trial matching, dictation & EMR implications, automated registry reporting, AI chatbots & virtual scribe, and other applications including review management, question answering, spell correction, and email filtration. The sentiment analysis segment to lead NLP in healthcare and life sciences market in 2022. Sentiment analysis means identifying the sentiments among several posts or in the same post where emotions are not always explicitly expressed. Companies use NLP applications to identify opinions and sentiments online to help them understand what customers think about their products & services and overall indicators of their reputation.
Asia Pacific to hold highest CAGR during the forecast period
The Asia Pacific NLP in healthcare and life sciences market is expected to grow at the highest CAGR during the forecast period, due to growing industrialization in this region. This market is also expected to account for the significant adoption of NLP solutions in healthcare and life sciences. Countries such as China, Japan, and India are leveraging information-intensive AI technologies, and implementing NLP solutions in healthcare is an important need in this region. IBM, Google, and AWS are the vendors operating in the market in the region, along with several other significant NLP solution providers. The need to reduce risks and improve significant health concerns is expected to contribute to the growth of the NLP in healthcare and life sciences market in Asia Pacific.
Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the NLP in healthcare and life sciences market.
By Company: Tier I: 35%, Tier II: 45%, and Tier III: 20%
By Designation: C-Level Executives: 35%, D-Level Executives: 25%, and Managers: 40%
By Region: APAC: 25%, Europe: 30%, North America: 30%, MEA: 10%, Latin America: 5%
The report includes the study of key players offering frontline workers training. It profiles major vendors in the NLP in healthcare and life sciences market. The major players in the NLP in healthcare and life sciences market include IBM (US), Microsoft (US), Google (US), AWS (US), IQVIA (US), Oracle (US), Inovalon(US), Dolbey (US), Averbis (Germany), SAS Institute (US), Press Ganey (US), Ellipsis Health (US), Health Fidelity (US), Centene (US), Caption Health (US), Clinithink (US), HPE (US), Oncora Medical (US), Flatiron Health (US), Apixio (US), Forsee Medical (US), Gnani.ai (India), Notable (US), Biofourmis (US), Suki (US), Wave Health Technologies (US), Corti (Denmark), CloudMedx (US), MedlnReal (US), Emtelligent (US).
Research Coverage
The market study covers the NLP in healthcare and life sciences market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as components, mapping type, application, vertical, and region. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall NLP in healthcare and life sciences market and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The NLP in healthcare and life sciences market size to grow from USD 2.2 billion in 2022 to USD 7.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 27.1% during the forecast period. Various factors such as increasing demand of predictive analytics technology to reduce risks and improve significant health concerns, and need for improving EHR data usability are expected to drive the adoption of NLP solutions in healthcare and life sciences market.
NLP solutions in healthcare contribute to effective interactions between care users and healthcare-related IT tools. Additionally, this makes it simple for various healthcare professionals to obtain health data and make defensible decisions. The contribution that NLP makes to the quality of care for healthcare organisations is another crucial advantage because these solutions provide efficient ways to gauge the quality of care and develop it accordingly. The primary drivers of the growth of the NLP in the healthcare and life sciences industry are the enormous expansion in healthcare data and the steadily rising number of mobile apps and loT devices.
The emergence of cognitive computing also helps boost the demand for NLP in the healthcare and life sciences market for precision medicine applications. Additionally, this is anticipated to open up potential prospects for the NLP in the healthcare and life sciences industry as a whole. The overall expansion of the NLP in the healthcare and life sciences market is nevertheless constrained by the ongoing rise in regulatory compliance, privacy issues, and data security concerns, particularly during COVID-19. Due to the benefit of processing clinical records in bulk, clinical NLP has enormous potential. Due to the stringent data access regulations for academics, this potential has, however, mostly gone unrealized. Data privacy has continued to be a significant barrier to Al adoption by organizations.
The solutions segment to register for the largest market size during the forecast period
Based on component, the NLP in healthcare and life sciences market is segmented into solutions and services. The market size of the solutions segment is estimated to be the largest during the forecast period. These solutions can be further bifurcated into clinical variation management, population health management, counter fraud management, and other solutions including risk & compliance management, claim management, and patient care & safety software.
NLP solutions enable healthcare companies to find hidden insights and connections to boost innovation, improve patient outcomes, increase efficiency, and reduce costs. NLP solution providers compete to increase their market coverage and expand their presence in newer markets.
The sentiment analysis application to account for the largest market size during the forecast period
Based on applications, the NLP in healthcare and life sciences market is segmented into sentiment analysis, drug discovery, clinical trial matching, dictation & EMR implications, automated registry reporting, AI chatbots & virtual scribe, and other applications including review management, question answering, spell correction, and email filtration. The sentiment analysis segment to lead NLP in healthcare and life sciences market in 2022. Sentiment analysis means identifying the sentiments among several posts or in the same post where emotions are not always explicitly expressed. Companies use NLP applications to identify opinions and sentiments online to help them understand what customers think about their products & services and overall indicators of their reputation.
Asia Pacific to hold highest CAGR during the forecast period
The Asia Pacific NLP in healthcare and life sciences market is expected to grow at the highest CAGR during the forecast period, due to growing industrialization in this region. This market is also expected to account for the significant adoption of NLP solutions in healthcare and life sciences. Countries such as China, Japan, and India are leveraging information-intensive AI technologies, and implementing NLP solutions in healthcare is an important need in this region. IBM, Google, and AWS are the vendors operating in the market in the region, along with several other significant NLP solution providers. The need to reduce risks and improve significant health concerns is expected to contribute to the growth of the NLP in healthcare and life sciences market in Asia Pacific.
Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the NLP in healthcare and life sciences market.
By Company: Tier I: 35%, Tier II: 45%, and Tier III: 20%
By Designation: C-Level Executives: 35%, D-Level Executives: 25%, and Managers: 40%
By Region: APAC: 25%, Europe: 30%, North America: 30%, MEA: 10%, Latin America: 5%
The report includes the study of key players offering frontline workers training. It profiles major vendors in the NLP in healthcare and life sciences market. The major players in the NLP in healthcare and life sciences market include IBM (US), Microsoft (US), Google (US), AWS (US), IQVIA (US), Oracle (US), Inovalon(US), Dolbey (US), Averbis (Germany), SAS Institute (US), Press Ganey (US), Ellipsis Health (US), Health Fidelity (US), Centene (US), Caption Health (US), Clinithink (US), HPE (US), Oncora Medical (US), Flatiron Health (US), Apixio (US), Forsee Medical (US), Gnani.ai (India), Notable (US), Biofourmis (US), Suki (US), Wave Health Technologies (US), Corti (Denmark), CloudMedx (US), MedlnReal (US), Emtelligent (US).
Research Coverage
The market study covers the NLP in healthcare and life sciences market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as components, mapping type, application, vertical, and region. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall NLP in healthcare and life sciences market and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Table of Contents
348 Pages
- STUDY OBJECTIVES
- MARKET DEFINITION
- MARKET SCOPE
- CURRENCY CONSIDERED
- STAKEHOLDERS
- SUMMARY OF CHANGES
- RESEARCH DATA
- MARKET BREAKUP AND DATA TRIANGULATION
- MARKET SIZE ESTIMATION
- MARKET FORECAST
- COMPANY EVALUATION MATRIX METHODOLOGY
- STARTUP/SME EVALUATION MATRIX METHODOLOGY
- ASSUMPTIONS
- LIMITATIONS
- GLOBAL NLP IN HEALTHCARE AND LIFE SCIENCES MARKET SIZE AND GROWTH RATE, 2017-2021 (USD MILLION, Y-O-Y %)
- GLOBAL NLP IN HEALTHCARE AND LIFE SCIENCES MARKET SIZE AND GROWTH RATE, 2022-2027 (USD MILLION, Y-O-Y %)
- ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN NLP IN HEALTHCARE AND LIFE SCIENCES MARKET
- NLP IN HEALTHCARE AND LIFE SCIENCES MARKET: TOP THREE APPLICATIONS
- NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY COMPONENT AND TOP THREE END USERS
- NLP IN HEALTHCARE AND LIFE SCIENCES MARKET: BY REGION
- INTRODUCTION
- NLP IN HEALTHCARE AND LIFE SCIENCES MARKET: EVOLUTION
- NLP IN HEALTHCARE AND LIFE SCIENCES: ARCHITECTURE
- MARKET DYNAMICS
- NLP IN HEALTHCARE AND LIFE SCIENCES: ECOSYSTEM
- CASE STUDY ANALYSIS
- SUPPLY CHAIN ANALYSIS
- TRENDS/DISRUPTIONS IMPACTING BUYERS/CLIENTS OF NLP IN HEALTHCARE AND LIFE SCIENCES MARKET
- TECHNOLOGY ANALYSIS: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET
- KEY CONFERENCES & EVENTS IN 2022-2023
- PATENT ANALYSIS
- PORTER’S FIVE FORCES ANALYSIS
- PRICING ANALYSIS
- KEY STAKEHOLDERS & BUYING CRITERIA
- REGULATORY IMPLICATIONS
- TARIFF AND REGULATORY LANDSCAPE
- INTRODUCTION
- SOLUTIONS
- SERVICES
- INTRODUCTION
- RULE-BASED
- STATISTICAL
- HYBRID
- INTRODUCTION
- CLINICAL DECISION SUPPORT
- DRUG DISCOVERY
- CLINICAL TRIAL MATCHING
- DICTATION & EMR IMPLICATIONS
- AUTOMATED REGISTRY REPORTING
- AI CHATBOTS & VIRTUAL SCRIBES
- OTHER APPLICATIONS
- INTRODUCTION
- ON-PREMISES
- CLOUD
- INTRODUCTION
- LARGE ENTERPRISES
- SMALL AND MEDIUM-SIZED ENTERPRISES
- INTRODUCTION
- OPTICAL CHARACTER RECOGNITION
- INTERACTIVE VOICE RESPONSE
- SENTIMENT ANALYSIS
- TEXT & SPEECH ANALYTICS
- IMAGE & PATTERN RECOGNITION
- TEXT SUMMARIZATION & CATEGORIZATION
- OTHER NLP TECHNIQUES
- INTRODUCTION
- PUBLIC HEALTH & GOVERNMENT AGENCIES
- MEDICAL DEVICES
- HEALTHCARE INSURANCE
- PHARMACEUTICALS
- OTHER END USERS
- INTRODUCTION
- NORTH AMERICA
- EUROPE
- ASIA PACIFIC
- MIDDLE EAST AND AFRICA
- LATIN AMERICA
- OVERVIEW
- KEY PLAYER STRATEGIES
- REVENUE ANALYSIS
- MARKET SHARE ANALYSIS
- MARKET EVALUATION FRAMEWORK
- COMPANY EVALUATION QUADRANT
- COMPETITIVE BENCHMARKING
- STARTUP/SME EVALUATION QUADRANT
- STARTUP/SME COMPETITIVE BENCHMARKING
- COMPETITIVE SCENARIO AND TRENDS
- INTRODUCTION
- KEY PLAYERS
- OTHER KEY PLAYERS
- STARTUP OR SMES
- INTRODUCTION
- NLP MARKET - GLOBAL FORECAST TO 2027
- CHATBOT MARKET - GLOBAL FORECAST TO 2026
- INDUSTRY EXPERTS
- DISCUSSION GUIDE
- KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
- CUSTOMIZATION OPTIONS
- RELATED REPORTS
- AUTHOR DETAILS
Pricing
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