According to the latest report by IMARC Group, titled “Healthcare Cognitive Computing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global healthcare cognitive computing market size reached US$ 4.3 Billion in 2022. Healthcare cognitive computing involves the use of machine learning algorithms, natural language processing (NLP), and artificial intelligence (AI) techniques to analyze and interpret complex medical data. It assists healthcare professionals in decision-making, improving patient outcomes, and enhancing various aspects of the healthcare industry. It can be applied to medical imaging, such as X-rays, MRIs, and CT scans, to aid radiologists in identifying abnormalities, tumors, and other medical conditions more accurately and efficiently. It can power virtual health assistants and chatbots that interact with patients, answer their health-related questions, provide information about symptoms, and offer guidance on seeking appropriate medical care.
Global Healthcare Cognitive Computing Market Trends:
The surging prevalence of chronic ailments, such as chronic obstructive pulmonary disease (COPD), diabetes, hypertension, heart disorders, asthma, and cancer, represents one of the major factors driving the demand for healthcare cognitive computing around the world. Moreover, there is an increase in the use of healthcare cognitive computing to streamline the clinical trial process by identifying suitable candidates, predicting patient outcomes, and optimizing trial designs. This, coupled with the rising number of clinical trials by pharmaceutical companies, is augmenting the market growth. In addition, there is an increase in the adoption of third computing platforms to enable improved patient care. This, along with the growing demand for personalized treatments in oncology, is influencing the market positively. Apart from this, the rising use of healthcare cognitive computing to detect fraudulent activities in medical claims and billing, prevent financial losses, and ensure better compliance is propelling the growth of the market. Looking forward, the market value is projected to reach US$ 13.2 Billion by 2028, expanding at a CAGR of 19% during 2023-2028.
- Based on the technology, the market has been segmented into natural language processing, machine learning, automated reasoning, and others. Presently, natural language processing holds the largest market share.
- On the basis of the deployment mode, on-premises dominate the market, followed by cloud-based.
- Based on the end use, the market has been divided into hospitals, pharmaceuticals, medical devices, insurance, and others. At present, hospitals dominate the market.
- Region-wise, the market has been segregated into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, North America enjoys the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being Apixio (Centene Corporation), Apple Inc., CognitiveScale, Enterra Solutions LLC, Google LLC (Alphabet Inc.), Healthcare X.0 GmbH, Intel Corporation, International Business Machines Corporation, MedWhat and Microsoft Corporation.
|Base Year of the Analysis
||Technology, Deployment Mode, End Use, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Apixio (Centene Corporation), Apple Inc., CognitiveScale, Enterra Solutions LLC, Google LLC (Alphabet Inc.), Healthcare X.0 GmbH, Intel Corporation, International Business Machines Corporation, MedWhat and Microsoft Corporation
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
134 N 4th St.
Brooklyn, NY 11249, USA
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800