The report forecasts the global Natural Language Processing (NLP) in healthcare and life sciences market to grow from USD 1.03 billion in 2016 to USD 2.65 billion by 2021, at a CAGR of 20.8%.
The market is growing rapidly because of the huge surge in clinical data, increasing use of connected devices, and evolving consumer needs. Limited access to clinical data and lack of institutional commitment are restraining the growth of the NLP market in healthcare and life sciences industry.
The NLP in healthcare and life sciences market by technology consists of Interactive Voice Response (IVR), Optical Character Recognition (OCR), pattern and image recognition, auto coding, classification & categorization, text analytics, and speech analytics. Pattern and image recognition is expected to witness the highest CAGR.
The technology is helpful in detecting images, pattern analysis, and gesture recognition. In the healthcare industry, it is used to interpret numerical data, such as blood test results. This technique is also used in processing non-numeric data, such as patient history.
North America is expected to have the largest market share and would dominate the NLP market from 2016 to 2021, due to the presence of a large number of NLP vendors and its acceptance of healthcare IT solutions.
- Cerner Corporation
- Dolbey Systems, Inc.
- Heath Fidelity
- IBM Corporation
- Microsoft Corporation
- Mmodal IP PLC
- Nuance Communications, Inc
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 NLP in Healthcare and Life Sciences Market, By Component
8 NLP in Healthcare and Life Sciences, By Type
9 NLP in Healthcare and Life Sciences Market, By Application
10 NLP in Healthcare and Life Sciences Market, By Deployment Mode
11 Geographic Analysis
12 Competitive Landscape
13 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/kf5cdz/natural_language
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SOURCE Research and Markets