Global Healthcare Cognitive Computing Market to Reach US$ 21.4 Billion by 2032, Spurred by Increasing Prevalence of Chronic Diseases

August 18, 2023 | Healthcare

According to the latest report by IMARC Group, titled “Healthcare Cognitive Computing Market Report by Technology (Natural Language Processing, Machine Learning, Automated Reasoning, and Others), Deployment Mode (On-premises, Cloud-based), End Use (Hospitals, Pharmaceuticals, Medical Devices, Insurance, and Others), and Region 2024-2032,” the global healthcare cognitive computing market size reached US$ 5.2 Billion in 2023. 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$ 21.4 Billion by 2032, expanding at a CAGR of 16.8% during 2024-2032.


Market Summary:

  • 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.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Technology, Deployment Mode, End Use, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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
Customization Scope 10% Free Customization
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Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


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Global Healthcare Cognitive Computing Market to Reach US$ 21.4 Billion by 2032, Spurred by Increasing Prevalence of Chronic Diseases
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