Dublin, May 13, 2020 (GLOBE NEWSWIRE) — The “Global Natural Language Processing (NLP) in Healthcare and Life Sciences Market Analysis 2020” report has been added to ResearchAndMarkets.com’s offering.
The Global Natural Language Processing (NLP) in Healthcare and Life Sciences market is expected to reach $4.20 billion by 2026 growing at a CAGR of 18.7% during 2018 to 2026.
Natural language processing for healthcare and life sciences is a field of computer science, artificial intelligence, and computational linguistics which gives computers the ability to understand human speech as it is spoken. It enables clinical and research medical community to create, manage and use a wide variety of semi-structured and unstructured textual documents. Applications of NLP for healthcare and life sciences include processing of enormous amounts of data by utilizing high-end NLP technologies for information extraction, automatic speech recognition, machine translation, and dialogue systems.
Factors such as growing demand for improving electronic health record (EHR) data usability to enhance patient care, rising urge of predictive analytics to reduce risks and improve significant health concerns, and increased usage of connected devices are fuelling the market growth. However, specific medical sub-languages and poor input data quality is hampering the market. In addition, rising demand for NLP systems programmed to understand the context of medical records is one of the opportunities for the market.
By deployment mode, cloud segment is anticipated to grow at the significant rate during the forecast period, due to benefits, such as easy maintenance of generated data, cost-effectiveness, agility, flexibility, scalability, and effective management of these solutions. Most vendors in the NLP in healthcare and life sciences market offer cloud-based NLP solutions to maximize profits and automate the equipment maintenance process, effectively. Companies prefer to adopt cloud-based NLP solutions, as these support their regional, cross-regional, or cross-country data recovery strategies. This enables organizations to ensure resilience in case of disasters.
The key vendors mentioned are Microsoft Corporation, Google, 3M, Hewlett Packard Enterprise Company, Nuance Communications, Inc., Cerner Corporation, Dolbey Systems, Inc., Wave Length Technologies, Apixio, IBM Corporation, AWS, Health Fidelity, Inc., MModal IP PLC, Linguamatics, Apple, A3logics, AlchemyAPI, Fluxifi, Aylien, SAS Institute, and Verint Systems.
Key Questions Answered in this Report:
- How this market evolved since the year 2016
- Market size estimations, forecasts and CAGR for all the segments presented in the scope
- Key Market Developments and financials of the key players
- Opportunity Analysis for the new entrants
- SWOT Analysis of the key players
- Fastest growing markets analysed during the forecast period
Key Topics Covered:
1 Market Synopsis
2 Research Outline
2.1 Research Snapshot
2.2 Research Methodology
2.3 Research Sources
2.3.1 Primary Research Sources
2.3.2 Secondary Research Sources
3 Market Dynamics
3.1 Drivers
3.2 Restraints
4 Market Environment
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Natural Language Processing (NLP) in Healthcare and Life Sciences Market, By NLP Type
5.1 Introduction
5.2 Hybrid NLP
5.3 Rule-based NLP
5.4 Statistical NLP
5.5 Learned NLP
6 Global Natural Language Processing (NLP) in Healthcare and Life Sciences Market, By Component
6.1 Introduction
6.2 Services
6.3 Standalone Solutions
7 Global Natural Language Processing (NLP) in Healthcare and Life Sciences Market, By Solution
7.1 Introduction
7.2 Counter Fraud Management
7.3 Risk Adjustment
7.4 Clinical Variation Management
7.5 Denials
7.6 Population Health Management
8 Global Natural Language Processing (NLP) in Healthcare and Life Sciences Market, By Technology
8.1 Introduction
8.2 Cognitive Analytics
8.3 Text Mining
8.4 Speech Recognition
8.5 Imaging Analytics
8.6 Advanced Text Analytics
9 Global Natural Language Processing (NLP) in Healthcare and Life Sciences Market, By Organization Size
9.1 Introduction
9.2 Small and Medium-sized Enterprises (SMEs)
9.3 Large Enterprises
10 Global Natural Language Processing (NLP) in Healthcare and Life Sciences Market, By Deployment Mode
10.1 Introduction
10.2 On-premises
10.3 Cloud
11 Global Natural Language Processing (NLP) in Healthcare and Life Sciences Market, By Application
11.1 Introduction
11.2 Auto Coding
11.3 Classification and Categorization
11.4 Interactive Voice Response (IVR)
11.5 Pattern and Image Recognition
11.6 Predictive Risk Analytics
11.7 Automated Information Extraction
11.8 Report Generation
11.9 Machine Translation
11.10 Spelling Correction
11.11 Question Answering
11.12 Email Filtering
11.13 Electronic Health Records (EHR)
11.14 Clinician Document
11.15 Computer-Assisted Coding (CAC)
11.16 Automatic Summarization
12 Global Natural Language Processing (NLP) in Healthcare and Life Sciences Market, By End User
12.1 Introduction
12.2 NLP for Patients
12.3 NLP for Clinical Operators
12.4 NLP for Physicians
12.5 NLP for Researchers
13 Global Natural Language Processing (NLP) in Healthcare and Life Sciences Market, By Geography
13.1 Introduction
13.2 North America
13.3 Europe
13.4 Asia Pacific
13.5 South America
13.6 Middle East & Africa
14 Strategic Benchmarking
15 Vendors Landscape
15.1 Microsoft Corporation
15.2 Google
15.3 3M
15.4 Hewlett Packard Enterprise Company
15.5 Nuance Communications, Inc.
15.6 Cerner Corporation
15.7 Dolbey Systems, Inc.
15.8 Wave Length Technologies
15.9 Apixio
15.10 IBM Corporation
15.11 AWS
15.12 Health Fidelity, Inc.
15.13 MModal IP PLC
15.14 Linguamatics
15.15 Apple
15.16 A3logics
15.17 AlchemyAPI
15.18 Fluxifi
15.19 Aylien
15.20 SAS Institute
15.21 Verint Systems
For more information about this report visit https://www.researchandmarkets.com/r/mik1t4
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