Polaris Market Research recently published [115+ Pages] research report on “NLP in Healthcare and Life Sciences Market Share, Size, Trends, Industry Analysis Report, By Component (Solution, Services); By NLP Type; By End-Use (Physician, Patients, Researchers, Clinical Operators); By Application; By Region; Segment Forecast, 2022 – 2030” in its research database.
According to the research report, the global NLP in healthcare and life sciences market size was valued at USD 1.88 billion in 2021 and is expected to reach USD 8.18 Billion by 2030, growing at a CAGR of 19.3% during the forecast period.
What is NLP in Healthcare and Life Sciences? How Big is NLP in Healthcare and Life Sciences Market Size?
Natural language processing is one of the most productive fields of application of artificial intelligence. It is that branch of AI which includes comprehending and processing human language. The rapidly increasing demand for NLP in healthcare and life sciences market is attributed to it offering a plethora of opportunities to increase productivity and reliability and make better decisions. NLP in the health industry indicates the highly confidential nature of health data.
The factors such as escalating compulsion of predictive analytics to lessen probability and enhance notable health concerns, increasing usage of connected devices, appropriate government policies, and growing edge globally are anticipated to emerge as the significant factors uplifting the growth of natural language processing (NLP) in healthcare and life sciences market.
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What Does the Report Include?
- Region and country-wise statistics of the market
- Approximation of market size along with historical and forecasted trend analysis
- The regulatory framework of each region
- Regional impending research and application outlook
- Status of underway developments
- Demand and supply GAP analysis
- Strategic advice for new entrants
- Competitive landscaping mapping the critical common trends
Growth Driving Factors
- Transformation of pertinent narrative information through NLP apps to boost the market
Customers’ appeal for an electronic health record capable of recording, analyzing, and transforming pertinent narrative information and cryptic data captured through natural language processing apps is increasing notably. The NLP in healthcare and life sciences market size is expanding due to significant technical progress as a result of growing customer expectations for enhanced healthcare services.
Patients are becoming more aware of their health and using predictive analytics to reduce health-related hazards and improve medical conditions. Additionally, the NLP in healthcare and life sciences market sales are soaring due to NLP applications linking healthcare professionals with social media data on patients through web pages, google searches, and social networking sites permitting healthcare professionals to improvise customer engagement and change based on consumer inclinations.
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Some of the Top Market Players Are:
- 3M Company
- Alphabet Inc.
- com Inc.
- Averbis GmbH
- Cerner Corporation
- Conversica Inc.
- Dolbey Systems Inc.
- Health Fidelity Inc.
- Hewlett Packard Enterprise Development LP
- IBM Corporation
- IQVIA Holdings Inc.
- Microsoft Corporation
- Wave Health Technologies
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In May 2022, IQVIA NLP APIs offer immediate access to healthcare-tuned NLP answering critical questions in healthcare and life sciences at a button, unbolting a richness of data that can empower decision-making. The early release consisted of five powerful NLP APIs designed to answer some of the most common questions in healthcare.
- Providing in-depth knowledge of products to propel the market
Based on components, the services segment is anticipated to be the most noteworthy revenue grantor in the market. The services are segregated into professional and managed services. The NLP in healthcare and life sciences market demand is growing as professional service providers offer in-depth knowledge about the products permitting clients to focus on their primary business. In contrast, managed services help the organization in enhancing its business processes and lowering total costs.
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NLP in Healthcare and Life Sciences Market: Report Scope
|Market Outlook for 2030||USD 8.18 Billion|
|Market Size 2021 Value||USD 1.88 Billion|
|Expected CAGR Growth||19.3% from 2022 – 2030|
|Forecast Year||2022 – 2030|
|Top Market Players||3M Company, Alphabet Inc., Amazon.com, Inc., Averbis GmbH, Cerner Corporation, Clinithink, Conversica Inc., Dolbey Systems, Inc., Health Fidelity, Inc., Hewlett Packard Enterprise Development LP, IBM Corporation, Inovalon, IQVIA Holdings Inc., Lexalytics, Microsoft Corporation, SparkCognition, and Wave Health Technologies.|
|Segments Covered||By Component, By NLP Type, By Application, By End-Use, By Region|
|Customization Options||Customized purchase options are available to meet your research needs. Explore customized purchase options|
- The surge in the usage of AI tools in enterprises to push the North American market
North America held the largest NLP in healthcare and life sciences market share due to the rising use of AI tools in enterprises throughout the life sciences has enhanced the prospects. Sizeable research in developing AI technologies and methodologies for quality control in clinical sciences research, patient safety, and population health management has widened the scope for competitors in the region to expand their market shares.
In Asia Pacific, the market is expected to grow considerably over the forecast period. This escalation can be attributed to the digital infrastructure and the role of the government in progressing technologies across various sectors.
Browse the Detail Report “NLP in Healthcare and Life Sciences Market Share, Size, Trends, Industry Analysis Report, By Component (Solution, Services); By NLP Type; By End-Use (Physician, Patients, Researchers, Clinical Operators); By Application; By Region; Segment Forecast, 2022 – 2030” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/nlp-in-healthcare-and-life-sciences-market
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Frequently asked questions
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Polaris Market Research has segmented the NLP in Healthcare and Life Sciences market report based on component, NLP type, application, end-user, and region:
By Component Outlook
- Clinical Variation Management
- Population Health Management
- Counter Fraud Management
- Other Solutions
- Professional Services
- Managed Services
By NLP Type Outlook
By Application Outlook
- Pattern and Image Recognition
- Summarization and Categorization
- Text and Speech Analytics
- Predictive Risk Analytics
- Reporting and Visualization,
- Other Applications
By End Use Outlook
- Clinical Operators
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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