Global Healthcare Cognitive Computing Market Size To Worth USD 23.9 Billion By 2033 | CAGR of 16.70%
Category: HealthcareGlobal Healthcare Cognitive Computing Market Size To Worth USD 23.9 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Healthcare Cognitive Computing Market Size is to Grow from USD 5.1 Billion in 2023 to USD 23.9 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 16.70% during the projected period.
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Browse key industry insights spread across 255 pages with 110 Market data tables and figures & charts from the report on the "Global Healthcare Cognitive Computing Market Size, Share, and COVID-19 Impact Analysis By Technology (Natural Language Processing, Machine Learning, Automated Reasoning, and Others), By Deployment Model (Cloud-based and On-premise), By End-User (Hospitals, Pharmaceuticals, Medical Devices, and Insurance), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/healthcare-cognitive-computing-market
The electronic representation of human thought processes is known as cognitive computing. In the healthcare industry, treating patients based on prior research is highly advantageous for healthcare practitioners. All of the crucial information and intelligence facts are gathered and organized in software for efficient usage in healthcare cognitive computing. Due to its many benefits, healthcare cognitive computing technology has been applied widely in the field, with oncology, personalized medicine, melanoma screening, EHR data analytics, medical imaging analysis, and the management of other chronic diseases being some of the main focus areas. One of the primary factors driving the market is the increasing global prevalence of chronic disorders. Growth in the market is being driven by governments and healthcare providers' increased concern about the rising burden of disease brought on by chronic disorders such as diabetes, cardiovascular disease, cancer, and others. However, the development of the healthcare cognitive computing market is anticipated to be restricted by high investment costs and insufficient digital health infrastructure.
The natural language processing segment is anticipated to hold the greatest share of the global healthcare cognitive computing market during the projected timeframe.
On the basis of technology, the global healthcare cognitive computing market is divided into natural language processing, machine learning, automated reasoning, and others. Among these, the natural language processing segment is anticipated to hold the greatest share of the global healthcare cognitive computing market during the projected timeframe. Natural language can communicate with the computer interface and feed inquiries with ease. It may also be used to train the system to handle particular data sets and extract insightful information.
The cloud-based segment is anticipated to hold the largest share of the global healthcare cognitive computing market during the projected timeframe.
On the basis of the deployment model, the global healthcare cognitive computing market is divided into cloud-based and on-premise. Among these, the cloud-based segment is anticipated to hold the largest share of the global healthcare cognitive computing market during the projected timeframe. Cloud-based solutions in healthcare simplify the development of telehealth apps, automate backend activities, and even make sharing medical records easier and safer.
The hospitals segment is predicted to hold the greatest share of the global healthcare cognitive computing market during the estimated period.
On the basis of end users, the global healthcare cognitive computing market is divided into hospitals, pharmaceuticals, medical devices, and insurance. Among these, the hospitals segment is predicted to hold the greatest share of the global healthcare cognitive computing market during the estimated period. The growing need for gene-specific therapies, cancer, personalized medicine, and patient health record management are some of the factors contributing to this high usage in hospitals.
North America is expected to hold the largest share of the global healthcare cognitive computing market over the forecast period.
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North America is expected to hold the largest share of the global healthcare cognitive computing market over the forecast period. The North American region is seeing an increase in the cooperation between high-tech corporations and healthcare research facilities, as well as ongoing pharmaceutical company investments in R&D and a growing uptake of cutting-edge medical technologies to enhance patient care.
Asia Pacific is predicted to grow at the fastest pace in the global healthcare cognitive computing market during the projected timeframe. It is also projected that the availability of regulatory authorities' supportive policies and the robust healthcare network in the Asia Pacific region will drive market growth in the region.
Europe is expected to hold a significant share of the global healthcare cognitive computing market over the forecast period. It is also predicted that greater investment in R&D to create cutting-edge technical solutions for improved data management will present profitable growth prospects in the European market.
Major vendors in the global healthcare cognitive computing market include IBM, Microsoft, CognitiveScale, Numenta, Cognizant, Vicarious, Enterra Solutions, Deepmind, SparkCognition, TIBCO Software Inc., NakaTech, Wipro Limited, Nuance Communications, Inc., Intel Corporation, and Others.
Recent Developments
- In April 2023, Microsoft and Cognizant launched the declaration extending their long-standing partnership in the healthcare industry. This work intends to enhance member experiences and business operations by improving interoperability, increasing claims management efficiency, and providing healthcare payers and providers with easy access to state-of-the-art technological solutions.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global healthcare cognitive computing market based on the below-mentioned segments:
Global Healthcare Cognitive Computing Market, By Technology
- Natural Language Processing
- Machine Learning
- Automated Reasoning
- Others
Global Healthcare Cognitive Computing Market, By Deployment Model
- On-premises
- Cloud-based
Global Healthcare Cognitive Computing Market, By End User
- Hospitals
- Pharmaceuticals
- Medical Devices
- Insurance
Global Healthcare Cognitive Computing Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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