Healthcare Cognitive Computing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Healthcare Cognitive Computing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A5148
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Market Overview:

The global healthcare cognitive computing market size reached US$ 4.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.2 Billion by 2028, exhibiting a growth rate (CAGR) of 19% during 2023-2028.

Cognitive computing is a self-learning system that relies on data mining techniques, pattern recognition, natural languages, human sense processing, and system refinements to simulate the human thought process. It processes enormous amounts of data to answer specific queries, gives customized intelligent recommendations and supports decision making. It analyzes emerging patterns, spots business opportunities and handles critical process-centric issues in real-time. It also enhances customer interactions by providing relevant, contextual and valuable information. At present, cognitive computing is extensively utilized in the healthcare sector to treat patients using past data and recognize any health-related issues.

Global Healthcare Cognitive Computing Market

Healthcare Cognitive Computing Market Trends:

The growing prevalence of chronic diseases across the globe represents one of the key factors driving the market. Moreover, there is a rise in the demand for gene-specific treatment to eliminate cancer cells without damaging healthy tissues. This, along with advancements in the healthcare industry around the world, is propelling the growth of the market. In addition, there is an increase in the use of third computing platforms to facilitate better patient care. This, coupled with the escalating demand for personalized treatments in oncology, is offering lucrative growth opportunities to industry investors. Besides this, healthcare cognitive computing finds application in customized medicine, melanoma screening, and electronic health record (EHR) data analysis. Additionally, the increasing cost of drug discovery and clinical trials worldwide are catalyzing the demand for healthcare cognitive computing. Apart from this, governing authorities of several countries are undertaking initiatives to promote the usage of e-health technologies, which is positively influencing the market. Furthermore, key market players are focusing on mergers and acquisitions (M&A), which is projected to bolster their overall profitability.

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global healthcare cognitive computing market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on technology, deployment mode and end use.

Breakup by Technology:

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Breakup by Deployment Mode:

  • On-premises
  • Cloud-based
     

Breakup by End Use:

  • Hospitals
  • Pharmaceuticals
  • Medical Devices
  • Insurance
  • Others
     

Breakup by Region:

 

 
 

 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles 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 Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
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
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
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)

Key Questions Answered in This Report

The global healthcare cognitive computing market was valued at US$ 4.3 Billion in 2022.

We expect the global healthcare cognitive computing market to exhibit a CAGR of 19% during 2023-2028.

The sudden outbreak of the COVID-19 pandemic has led to the increasing need for healthcare cognitive computing to treat the coronavirus-infected patients using their past data and to recognize any health-related issues, that allows in providing the treatments and drugs, accordingly.

The rising prevalence of various chronic diseases, along with the growing adoption healthcare cognitive computing in customized medicine, melanoma screening, and Electronic Health Record (EHR) data analysis, is primarily driving the global healthcare cognitive computing market.

Based on the technology, the global healthcare cognitive computing market can be segmented into natural language processing, machine learning, automated reasoning, and others. Among these, natural language processing currently holds the majority of the total market share.

Based on the deployment mode, the global healthcare cognitive computing market has been divided into on-premises and cloud-based, where on-premises currently exhibit a clear dominance in the market.

Based on the end use, the global healthcare cognitive computing market can be categorized into hospitals, pharmaceuticals, medical devices, insurance, and others. Currently, hospitals account for the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global healthcare cognitive computing market include 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.

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Healthcare Cognitive Computing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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