Global Natural Language Processing (NLP) in Healthcare Market Overview:
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.
- 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
- Computer Vision and Machine Learning (ML) Algorithms Have Further Helped In Increasing the Sensitivity and Accuracy of Cancer Screening Tests
- Increase In Cloud-Based NLP Solutions to Maximize Profits and Automate the Equipment Maintenance Process, Effectively
- Integration of NLP Technology with Computer Apps Helps These Healthcare Service Providers to Improve Patient and Their Family Engagement Experience
- Stringent Regulations by Government Regarding Healthcare Industry
- The Adoption of Cloud-Based NLP in Healthcare and Life Sciences Solutions Is Expected To Grow
- 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
- Unawareness About Natural Language Processing (NLP) in Healthcare in the Under Developed Regions
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.
Some of the key players profiled in the report are 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). Additionally, following companies can also be profiled that are part of our coverage like Apixio (United States) and Lexalytics (United States). Analyst at AdvanceMarketAnalytics see United States Players to retain maximum share of Global Natural Language Processing (NLP) in Healthcare market by 2025. Considering Market by , the sub-segment i.e. will boost the Natural Language Processing (NLP) in Healthcare market.
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Natural Language Processing (NLP) in Healthcare market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Natural Language Processing (NLP) in Healthcare market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Providers of Natural Language Processing (NLP) in Healthcare, End-Users, Potential Investors, Market Research Firms, Regulatory Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.