NLP (Natural Language Processing) in Healthcare and Life Sciences Markets: Statistical, Hybrid, IVR, OCR, Clinical Trail Matching, Drug Discovery

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Global NLP in the Healthcare and Life Sciences Market

Global NLP in the Healthcare and Life Sciences Market

Global NLP in the Healthcare and Life Sciences Market

Dublin, November 23, 2022 (GLOBE NEWSWIRE) – “NLP in the Healthcare and Life Sciences Market by Components (Solutions and Services) NLP (Hybrid Statistics) NLP (IVR, OCR) Program (Therapeutic Path) Drug Detection Matching) End Users and Regions – Global Forecast to 2027 “The report was added to Of ResearchAndMarkets.com Offer.

Global NLP in healthcare and life sciences market size will increase from $ 1.8 billion in 2021 to $ 4.3 billion in 2026 at a CAGR of 19.0%

Factors such as the growing need to analyze and gain insight into narrative texts and large amounts of clinical data, and the growing need to improve access to EHR data to improve health care delivery and outcomes are driving NLP approval in healthcare and life sciences and services. Global market.

COVID-19 is disrupting the business and economic world, so it affects the lives of people, their interactions and the way they manage their business. Sustainability has become a new normal for enterprises as they shift their focus from growth opportunities and focus on implementing drastic measures to mitigate the effects of the Kovid-19 pandemic.

In the fight against the growing COVID-19, pharmaceutical and healthcare organizations, governments and scientific communities around the world are working to assess the effects of the virus and develop a quick and accurate solution. Few vendors in the market testify that NLP technology can create a comprehensive, fast system understanding of unstructured text.

Sources may include scientific literature, clinical trial records, pre-publications, internal sources, medical records, social media, and news reports. Capturing important information from multiple sources and synthesizing it into an Evidence Hub deepens the understanding for users, which will accelerate the results. NLP is widely used in various organizations to classify emotions, implement recommendations, summarize information, and model themes.

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As a new strain of coronavirus spreads around the world, it has created serious disruptions across communities, patients and doctors, how they work and how they are involved in supporting stakeholders across the ecosystem. Pharmaceuticals and Life Sciences have found themselves at the forefront of providing the most essential medical products to help patients in times of need, while also attracting widespread attention when The industry is working to develop new therapies and vaccines for COVID-19.

Cloud section to have a larger market size during the forecast period

Through NLP deployment in the healthcare and life sciences markets are divided into in-premises and cloud. The market size of the cloud deployment mode is estimated to be larger during the forecast period due to the ease of use options and less capital and time requirements.

The cloud deployment model occupies an important part of the market due to its availability and agility for business owners. Healthcare companies are choosing cloud-based infrastructure to manage and monitor employees and equipment working remotely.

SMEs to maintain higher CAGR during forecast period

NLP in the healthcare and life sciences market is divided by organizational size into large enterprises and small and medium enterprises. Markets for small and medium enterprises are expected to register higher CAGRs during the forecast period because cloud-based applications and services help them improve business operations and increase productivity.

While the large enterprise segment is expected to occupy a larger market share in NLP in the healthcare and life sciences market during the forecast period due to affordability and adoption of emerging technologies such as AI. Big data and blockchain by healthcare companies.

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Among the regions, APAC will hold higher CAGR during the forecast period

APAC is expected to grow at a good pace during the forecast period. APAC Healthcare continues to focus on improving business operations to boost market competitiveness and revenue growth. China, India and Singapore present wide growth opportunities in NLP in the healthcare and life sciences markets.

In addition, local governments are spending heavily on AI and ML technologies to increase digitalization and NLP awareness among healthcare companies.

Report attributes

Details

Page number

348

Forecast period

2022 – 2027

Estimated market value (USD) for 2022

$ 2.2 billion

Forecast Market Price (USD) for 2027

$ 7.2 billion

Overall annual growth rate

27.1%

Coverage

Global

Understanding Premium

  • Increased demand to improve access to electronic healthcare data for better healthcare distribution and business results to drive market growth

  • Patterns and image recognition sections will increase at the highest CAGR during the forecast period

  • Interactive Voice Solutions and Response to North America’s Largest Market Share 2021

  • North America to occupy largest market share by 2021

Market dynamics

Driver

  • Boosting the growth of predictive analytics technology to reduce risks and improve key health concerns

  • Increased demand for improved access to Ehr data to improve healthcare delivery and outcomes

  • Increased need to analyze and gain insight into narrative texts and large amounts of clinical data

Restrictions

  • Specific medical sub-languages ​​and poor input data quality

  • Inadequacies in the advancement of Nlp technology using neural networks that restrict its use for cloud-based services

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Opportunity

  • Integrates Nlp System to Increase Phenotyping Capabilities

  • Increased demand for Nlp systems is programmed to understand the context of medical records

  • Emergence of Cognitive Computing to Increase Requirements for Nlp Solutions for Precise Medical Applications

Challenges

  • Increasing regulatory compliance and privacy concerns over data security during COVID-19 slows researchers’ progress

  • Interoperability and reliability issues while deploying Nlp Algorithms

  • Total Growth Analysis

Case study analysis

  • Drexel University uses I2E linguistics to improve group selection for HIV and hepatitis C

  • Healthcare companies use Axtria to provide a comprehensive overview of patient reports and provide critical insights to both healthcare providers and companies.

  • Create a Database and Medical Knowledge for Chatbot Online Clinic to Create Anamnesis

  • Leading kidney care providers implement Citiustech solution to predict high-risk chronic kidney disease

  • Health System Implements Linguamatics Nlp Platform to Improve Patient Care and Awareness of Population Health Data

  • Leading healthcare providers implement Linguamatics Nlp solution to gain unstructured data insights

  • Medtronic Develops Mobile Personal Assistant for Diabetes Management

  • The primary care team joins the foresight team on the Esp Risk Correction Program for Profit Improvement

  • Flagler Health Enhances Clinical Documentation Experience for Radiologists

Technology Analysis: Nlp in the Healthcare and Life Sciences Market

The company mentioned

  • 3M

  • APCIO

  • Averbis

  • Ash

  • Babylon

  • BioForm

  • Health Title

  • Cerner

  • Thinking Clinic

  • Cloudmedx

  • Corti

  • Dolbey

  • Flatiron

  • Medical perspective

  • Gnani.Ai

  • Google

  • Honesty of health

  • IBM

  • Enolon

  • Lexalytics

  • Linguistics

  • Microsoft

  • Remarkable

  • Oncora Medical

  • Click Ganey

  • Suki

  • Wave Health Technology

For more information on this report, please visit https://www.researchandmarkets.com/r/cp0mip

Attachments

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