Global Healthcare Natural Language Processing (NLP) Market by Type (Machine Translation, Information Extraction, Automatic Summarization, Text and Voice Processing), By Application (Hospitals, Clinics) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global healthcare natural language processing (NLP) market is expected to register a CAGR of 16.8% during the forecast period, 2018-2030. The growth in this market can be attributed to the increasing demand for NLP solutions from hospitals and clinics across the globe. Additionally, rising adoption of NLP by small and medium-sized enterprises (SMEs) is also contributing to the growth of this market. However, lack of awareness about benefits offered by NLP solutions is restraining the growth of this market to some extent. On the basis of type, machine translation dominates the global healthcare NLP market owing to its ability to translate text from one language into another accurately and quickly. Information extraction is expected to be fastest growing segment during forecast period due its ability identify specific information from large unstructured data sets with high accuracy. On basis on application, hospitals are expected dominate healthcare NLP market throughout forecast period as they require sophisticated solutions that can manage voluminous patient data effectively and improve operational efficiency.



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Product Definition:

Healthcare Natural Language Processing (NLP) is the application of natural language processing (NLP) techniques to healthcare data. NLP is the ability of computers to understand human language and extract meaning from it. Healthcare NLP can be used to improve patient care by extracting information from clinical notes, medication orders, discharge summaries, and other sources of text data. It can also be used to identify trends in healthcare data and improve decision-making.

Machine Translation:

Natural language processing is the field of study that involves the use of computers to process human language. NLP has applications in various subfields such as information retrieval, text mining, automatic document generation, and others. The application areas are expanding rapidly due to technological advancements and innovations in artificial intelligence (AI).

Numerous companies are investing heavily in research & development activities for Artificial Intelligence (AI) owing to its potential benefits across several industry verticals including healthcare.

Information Extraction:

The global Information Extraction and it's usage in Healthcare NLP market size was valued at USD 955.0 million in 2016 and is expected to grow at a CAGR of XX% over the forecast period. The rising demand for Natural Language Processing (NLP) technology across various healthcare applications such as drug discovery, clinical trial data analysis, medical writing, patient & physician documentation, information extraction from electronic health records (EHR), etc.

Application Insights:

The market is segmented into hospitals, clinics, and other applications such as laboratories and imaging centers. The hospitals segment dominated the overall application market in 2017 owing to increasing demand for NLP solutions in medical communication applications such as electronic health records integration. Natural language processing helps detect patterns from massive data sets stored in electronic health records by identifying anomalies or abnormalities that may be indicative of a disease process or condition. Such trends can then be used to trigger alerts for further investigation thus improving patient safety.

The clinics segment is expected to exhibit the highest growth over the forecast period due to an increase in demand for NLP solutions by medical professionals working at small group practices and solo practitioners who are now able to conduct meaningful conversations with patients through their mobile phones or computers using natural language processing software programs combined with telehealth technology platforms such as Electronic Health Records (EHRs) and Telemedicine Systems (TMS).

Regional Analysis:

North America dominated the global market in 2017. This can be attributed to the presence of a large number of players, increased funding for natural language processing research, and high adoption rate of advanced technologies across various sectors such as healthcare. Moreover, increasing demand for information extraction solutions due to rising volumes of unstructured data is expected to drive regional growth over the forecast period.

Asia Pacific is anticipated to witness lucrative growth during the forecast period owing to growing investments by prominent market players in this region along with increasing government spending on healthcare infrastructure development and services improvement. Growing awareness about early diagnosis among patients is likely boost regional demand during the forecast period as well.

Growth Factors:

Increasing demand for NLP-based clinical decision support systems from healthcare providers to improve the quality and efficiency of patient care.
Rising number of hospitals and clinics adopting NLP-based EHR systems to manage patient data more effectively.
Proliferation of big data in healthcare sector is expected to drive the demand for NLP solutions over the next few years.
Growing popularity of text analytics in healthcare industry for analyzing unstructured data sets to identify trends and patterns 5


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Scope Of The Report
Report Attributes
Report Details
Report Title
Healthcare Natural Language Processing (NLP) Market Research Report
By Type
Machine Translation, Information Extraction, Automatic Summarization, Text and Voice Processing
By Application
Hospitals, Clinics
By Companies
NLP Technologies, NEC, Apple, Microsoft, Dolbey, IBM, NetBase, SAS, Verint Systems, Linguamatics, Artificial Solutions
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
174
Number of Tables & Figures
122
Customization Available
Yes, the report can be customized as per your need.

Global Healthcare Natural Language Processing (NLP) Market Report Segments:
The global Healthcare Natural Language Processing (NLP) market is segmented on the basis of:
Types
Machine Translation, Information Extraction, Automatic Summarization, Text and Voice Processing
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospitals, Clinics
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
NLP Technologies
NEC
Apple
Microsoft
Dolbey
IBM
NetBase
SAS
Verint Systems
Linguamatics
Artificial Solutions



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Highlights of The Healthcare Natural Language Processing (NLP) Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Machine Translation
Information Extraction
Automatic Summarization
Text and Voice Processing
By Application:
Hospitals
Clinics
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Healthcare Natural Language Processing (NLP) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
Identifying Appropriate Advertising Appeals



8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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