IMARC Group, a leading market research company, has recently releases report titled “Healthcare Cognitive Computing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global healthcare cognitive computing market size, share, growth, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Healthcare Cognitive Computing
Healthcare cognitive computing involves the application of advanced technologies to assist medical professionals in diagnosis, treatment, and decision-making. It leverages artificial intelligence (AI) and data analytics to enhance the healthcare industry to provide timely information for faster interventions. It assists clinicians in diagnosis and treatment decisions and forecasts patient outcomes and disease progression. It interprets clinical notes and patient records and streamlines administrative tasks for efficiency. It safeguards patient data with robust encryption and access controls and adapts to evolving healthcare challenges and data volumes. Besides this, it helps improve electronic health record (EHR) management, data analysis, and patient record accuracy and supports virtual consultations, diagnosis, and treatment planning.
How Big Is the Healthcare Cognitive Computing Market?
The global healthcare cognitive computing market size reached US$ 4.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.2 Billion by 2028, exhibiting a growth rate (CAGR) of 19% during 2023-2028.
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What are the growth prospects and trends in the healthcare cognitive computing industry?
The increasing volume of healthcare data represents one of the key factors catalyzing the demand for advanced AI-driven solutions for analysis. Besides this, the implementation of various stringent healthcare regulations to promote accurate record-keeping and data security is favoring the market growth.
Apart from this, the increasing reliance of the pharmaceutical industry on AI for drug development and optimization is strengthening the growth of the market.
Furthermore, the rising focus of individuals on prevention is promoting the use of AI in early disease detection. Moreover, evolving AI capabilities and hardware are driving innovation in healthcare cognitive computing.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Technology:
- Natural Language Processing
- Machine Learning
- Automated Reasoning
- Others
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by End Use:
- Hospitals
- Pharmaceuticals
- Medical Devices
- Insurance
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Apixio (Centene Corporation), Apple Inc., CognitiveScale, Enterra Solutions LLC, Google LLC (Alphabet Inc.), Healthcare X.0 GmbH, Intel Corporation, International Business Machines Corporation, MedWhat and Microsoft Corporation.
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