About Natural Language Processing (NLP) in Healthcare
Natural language processing or NLP normally refers to the interaction between a human and a computer that further analyzes, processes, and then produces computational linguistics that is all based on a human language. This NLP technology helps humans to have a meaningful interaction with computers using any basic human language like German or English instead of artificial computer languages like Java or C++. At present, the employment of this NLP technology is emerging in the global healthcare industry. A number of public and private healthcare service providers like the clinics and notable hospitals are now adopting the NLP technology for their clinical applications so as to improve their patient appointments and hence their overall decision-making skills. In addition to all these, the NLP technology is mainly implemented as a strategic tool by the healthcare service providers so as to gain all the clinical data insights and thereby the effective data results after the clinical processes. NLP technology is largely used in artificial intelligence systems so as to get improved data insight. The applications with natural language processing i.e. NLP integration are nowadays used in the healthcare industry for the purpose of providing clinical decision support systems as well as predictive analysis. With the increasing usage of Artificial Intelligence (AI), the frontiers of healthcare, treatment tools, and augmenting diagnostic, as well as the helping healthcare professionals prognosticate diseases is hereby expected to increase. The computer vision and Machine Learning (ML) algorithms have indeed helped in the detection of the precancerous lesions by the means of using the minutest details in the tissue imagery, thereby increasing the sensitivity as well as the accuracy of the cancer screening tests.
Attributes | Details |
---|
Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Natural Language Processing (NLP) in Healthcare market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
3M (United States), Cerner (United States), Averbis (Germany), IBM Corporation (United States), Microsoft Corporation (United States), Wave Health Technologies (Georgia), Inovalon (United States), Nuance Communications (United States), Heath Fidelity (United States), Clinithink (Georgia), Linguamatics (United Kingdom) and Dolbey Systems (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Apixio (United States) and Lexalytics (United States).
Segmentation Overview
AMA Research has segmented the market of Global Natural Language Processing (NLP) in Healthcare market by Type (Rule-Based NLP, Statistically Based NLP and Mixed NLP), Application (Health Care, Life Science and Other) and Region.
On the basis of geography, the market of Natural Language Processing (NLP) in Healthcare has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
If we see Market by , the sub-segment i.e. will boost the Natural Language Processing (NLP) in Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
Increase In Cloud-Based NLP Solutions to Maximize Profits and Automate the Equipment Maintenance Process, Effectively and Integration of NLP Technology with Computer Apps Helps These Healthcare Service Providers to Improve Patient and Their Family Engagement Experience
Market Growth Drivers:
With The Growing Use of Artificial Intelligence (AI), the Frontiers of Healthcare, Augmenting Diagnostic and Treatment Tools, and Helping Healthcare Professionals Prognosticate Diseases Is Expected To Increase and Computer Vision and Machine Learning (ML) Algorithms Have Further Helped In Increasing the Sensitivity and Accuracy of Cancer Screening Tests
Challenges:
Unawareness About Natural Language Processing (NLP) in Healthcare in the Under Developed Regions
Restraints:
Stringent Regulations by Government Regarding Healthcare Industry
Opportunities:
The Adoption of Cloud-Based NLP in Healthcare and Life Sciences Solutions Is Expected To Grow and High Growth Rate Can Be Further Attributed To the Rising Digital Transformations in the Healthcare and Life Sciences Industries and Therefore the Growing Use Of Patient Health Record Systems
Key Target Audience
Providers of Natural Language Processing (NLP) in Healthcare, End-Users, Potential Investors, Market Research Firms, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.