HOME Top Market Reports Natural Language Processing Market for Health Care and Life Sciences Industry by Type (Rule-Based, Statistical, & Hybrid NLP Solutions), Region (North America, Europe, Asia-Pacific, Middle East and Africa, Latin America) - Global Forecast to 2020

Natural Language Processing Market for Health Care and Life Sciences Industry by Type (Rule-Based, Statistical, & Hybrid NLP Solutions), Region (North America, Europe, Asia-Pacific, Middle East and Africa, Latin America) - Global Forecast to 2020

By: marketsandmarkets.com
Publishing Date: August 2015
Report Code: TC 3660

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Natural Language Processing (NLP) technologies assist machines in understanding the language used by humans to communicate both reading and writing. This form of communication assists the computer in performing various other additional tasks. A few examples of such applications include processing of enormous amounts of data by utilizing high end NLP technologies for information extraction, automatic speech recognition, machine translation, and dialogue systems. Such comprehensive applications of NLP solutions are hence demanded and utilized by business organizations running in and across the entire healthcare and life sciences industry. The practice patterns used by physicians for the documentation of clinical notes as well as patient discharge summaries have generated an enormous amount of unstructured data in the form of Electronic Health Record (EHR). Such voluminous data needs to be structured and analyzed effectively for enhanced reporting and analytics. Due to this, numerous healthcare providers are looking for solutions incorporating high-end NLP technologies.

Due to the comparatively early implementation of NLP solutions in North America, most of the key vendors have progressively been realizing this region as the pioneer ground in the NLP for healthcare market space.

The key vendors occupying the market are 3M, IBM, Cerner Corp., Nuance Communication, Microsoft Corp., Health Fidelity, Apixio, Linguamatics, Optum, Inc., and Dolbey Systems, among various others. The HealthCare NLP Market industry research report discusses the strategies and insights of the key vendors in the industry and also provides in-depth study of the driving forces and challenges for the NLP market for the healthcare and life sciences industry. The report also analyzes the global trends and future growth potentials across different regions. MarketsandMarkets has segmented the global HealthCare NLP Market on the basis of NLP types, technologies, services, deployment models, and regions. The report also includes MarketsandMarkets’ views of the key players and analysts’ insights on the latest developments that are taking place in the NLP for healthcare market space. The forecast period for the NLP market for healthcare and life sciences industry in the research report is 2015–2020, with 2014 considered as the base year. The research report covers the complete NLP market for healthcare and life sciences industry categorized into the following submarkets:

On the basis of solution types:

  • Rule-based NLP
  • Statistical NLP
  • Hybrid NLP

On the basis of types of technologies:

  • Recognition
    1. Interactive Voice Response (IVR)
    2. Optical Character Recognition (OCR)
    3. Pattern and image recognition
  • Operational
    1. Auto coding
    2. Classification and categorization
  • Analytics
    1. Text analytics
    2. Speech analytics

On the basis of services:

  • Professional services
  • Support and maintenance services

On the basis of deployment model:

  • On-premises
  • On-demand (cloud-based)

On the basis of geographical regions:

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Middle East and Africa (MEA)
  • Latin America

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Currency
    1.5 Limitation
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primaries
    2.2 Market Size Estimation
    2.3 Market Breakdown and Data Triangulation
           2.3.1 Assumptions

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 31)
    4.1 Attractive Market Opportunities in the HealthCare NLP Market
    4.2 Natural Language Processing Market for the Healthcare and Life Sciences Industry: CAGR of Top Three Types of Solutions and Technologies
    4.3 Lifecycle Analysis, By Region
    4.4 Market Investment Scenario

5 HealthCare NLP Market: Overview (Page No. - 35)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Explosive Growth of Data
                    5.2.1.2 Increasing Utilization of the Internet
                    5.2.1.3 Increase in the Use of Connected Devices
           5.2.2 Restraints
                    5.2.2.1 Lack in Collaborative Adoption
                    5.2.2.2 Governmental Regulations
           5.2.3 Opportunities
                    5.2.3.1 Growing Need for “Personalized Medicine”
                    5.2.3.2 Need to Raise Disease Awareness
           5.2.4 Challenges
                    5.2.4.1 Ambiguity in the Medical Terms
                    5.2.4.2 Multilingual Patients

6 HealthCare NLP Market By Type (Page No. - 40)
    6.1 Introduction
    6.2 Rule-Based NLP
    6.3 Statistical NLP
    6.4 Hybrid NLP

7 HealthCare NLP Market By Technology (Page No. - 46)
    7.1 Introduction
    7.2 Interactive Voice Response
    7.3 Optical Character Recognition
    7.4 Pattern and Image Recognition
    7.5 Auto Coding
    7.6 Classification and Categorization
    7.7 Text Analytics
    7.8 Speech Analytics

8 HealthCare NLP Market By Service (Page No. - 60)
    8.1 Introduction
    8.2 Professional Services
    8.3 Support and Maintenance Services

9 HealthCare NLP Market By Deployment Model (Page No. - 65)
    9.1 Introduction
    9.2 On-Premises
    9.3 On-Demand

10 HealthCare NLP Market: Case Study (Page No. - 70)
     10.1 Introduction
     10.2 Healthcare and Life Sciences
     10.3 Market Problem (Case Study)
             10.3.1 Introduction
             10.3.2 Problem Statement 1
             10.3.3 Solution 1
             10.3.4 Problem Statement 2
             10.3.5 Solution 2
             10.3.6 Problem Statement 3
             10.3.7 Solution 3

11 HealthCare NLP Market: By Region (Page No. - 73)
     11.1 Introduction
     11.2 North America
             11.2.1 U.S.
     11.3 Europe
             11.3.1 U.K.
     11.4 Asia-Pacific
     11.5 Middle East and Africa
     11.6 Latin America

12 Competitive Landscape (Page No. - 82)
     12.1 Overview
     12.2 Competitive Situation and Trends
             12.2.1 Partnerships, Collaborations, and Agreements
             12.2.2 New Product Launches
             12.2.3 Acquisitions
             12.2.4 Venture Funding

13 Company Profiles (Page No. - 94)
     13.1 Introduction
     13.2 3M
             13.2.1 Business Overview
             13.2.2 Products Offered
             13.2.3 Recent Developments
             13.2.4 MnM View
                        13.2.4.1 Key Strategies
                        13.2.4.2 SWOT Analysis
     13.3 International Business Machines Corporation
             13.3.1 Business Overview
             13.3.2 Products Offered
             13.3.3 Recent Developments
             13.3.4 MnM View
                        13.3.4.1 Key Strategies
                        13.3.4.2 SWOT  Analysis
     13.4 Microsoft Corporation
             13.4.1 Business Overview
             13.4.2 Products and Services Offered
             13.4.3 Recent Developments
             13.4.4 MnM View
                        13.4.4.1 Key Strategies
                        13.4.4.2 SWOT Analysis
     13.5 Nuance Communication Inc.
             13.5.1 Business Overview
             13.5.2 Products Offered
             13.5.3 Recent Developments
             13.5.4 MnM View
                        13.5.4.1 Key Strategies
                        13.5.4.2 SWOT Analysis
     13.6 Cerner Corporation
             13.6.1 Business Overview
             13.6.2 Products Offered
             13.6.3 Recent Developments
             13.6.4 MnM View
                        13.6.4.1 Key Strategies
                        13.6.4.2 SWOT Analysis
     13.7 Optum, Inc.
             13.7.1 Business Overview
             13.7.2 Products Offered
             13.7.3 Recent Developments
             13.7.4 MnM View
                        13.7.4.1 Key Strategies
                        13.7.4.2 SWOT Analysis
     13.8 Linguamatics
             13.8.1 Business Overview
             13.8.2 Products and Services Offered
             13.8.3 Recent Developments
             13.8.4 MnM View
                        13.8.4.1 Key Strategies
     13.9 Health Fidelity
             13.9.1 Business Overview
             13.9.2 Products and Services Offered
             13.9.3 Recent Developments
             13.9.4 MnM View
                        13.9.4.1 Key Strategies
     13.10 Apixio
             13.10.1 Business Overview
             13.10.2 Products Offered
             13.10.3 Recent Developments
             13.10.4 MnM View
                        13.10.4.1 Key Strategies
     13.11 Mmodal Ip Llc
             13.11.1 Business Overview
             13.11.2 Products and Services Offered
             13.11.3 Recent Developments
             13.11.4 MnM View
                        13.11.4.1 Key Strategies
     13.12 Dolbey Systems
             13.12.1 Business Overview
             13.12.2 Products and Services Offered
             13.12.3 Recent Developments
             13.12.4 MnM View
                        13.12.4.1 Key Strategies

14 Appendix (Page No. - 128)
     14.1 Insights of Industry Experts
     14.2 Discussion Guide
     14.3 Introducing RT: Real-Time Market Intelligence
     14.4 Available Customizations
     14.5 Related Reports


List of Tables (39 Tables)

Table 1 Global HealthCare NLP Market: Assumptions
Table 2 Natural Language Processing Market Size, By Type, 2013–2020 (USD Million)
Table 3 Rule-Based NLP: Natural Language Processing Market Size, By Region, 2013–2020 (USD Million)
Table 4 Statistical NLP: Natural Language Processing Market Size, By Region, 2013–2020 (USD Million)
Table 5 Hybrid NLP: Natural Language Processing Market Size, By Region, 2013–2020 (USD Million)
Table 6 HealthCare NLP Market, By Technology, 2013–2020 (USD Million)
Table 7 Interactive Voice Response: Natural Language Processing Market Size, By Deployment Model, 2013–2020 (USD Million)
Table 8 Interactive Voice Response:  Natural Language Processing Market Size, By Region, 2013–2020 (USD Million)
Table 9 Optical Character Recognition: Natural Language Processing Market Size, By Deployment Model, 2013–2020 (USD Million)
Table 10 Optical Character Recognition: Natural Language Processing Market Size, By Region, 2013–2020 (USD Million)
Table 11 Pattern and Image Recognition: Natural Language Processing Market Size, By Deployment Model, 2013–2020 (USD Million)
Table 12 Pattern and Image Recognition: Natural Language Processing Market Size, By Region, 2013–2020 (USD Million)
Table 13 Auto Coding: Natural Language Processing Market Size, By Deployment Model, 2013–2020 (USD Million)
Table 14 Auto Coding: Natural Language Processing Market Size, By Region, 2013–2020 (USD Million)
Table 15 Classification and Categorization: Natural Language Processing Market Size, By Deployment Model, 2013–2020 (USD Million)
Table 16 Classification and Categorization: Natural Language Processing Market Size, By Region, 2013–2020 (USD Million)
Table 17 Text Analytics, Natural Language Processing Market Size, By Deployment Model, 2013–2020 (USD Million)
Table 18 Text Analytics: Natural Language Processing Market Size, By Region, 2013–2020 (USD Million)
Table 19 Speech Analytics: Natural Language Processing Market Size, By Deployment Model, 2013–2020 (USD Million)
Table 20 Speech Analytics: Natural Language Processing Market Size, By Region, 2013–2020 (USD Million)
Table 21 Natural Language Processing for Healthcare and Life Sciences Industry, By Service, 2013–2020 (USD Million)
Table 22 Professional Services: Natural Language Processing Market Size, By Region, 2013–2020 (USD Million)
Table 23 Support and Maintenance Services: Natural Language Processing Market Size, By Region, 2013–2020 (USD Million)
Table 24 HealthCare NLP Market, By Deployment Model, 2013–2020 (USD Million)
Table 25 On-Premises Deployment Model: Natural Language Processing Market Size, By Region, 2013–2020 (USD Million)
Table 26 On-Demand Deployment Model: Natural Language Processing Market Size, By Region, 2013–2020 (USD Million)
Table 27 Overall Natural Language Processing Market Size for Healthcare and Life Sciences Industry, 2013–2020 (USD Million)
Table 28 HealthCare NLP Market Size, By Region, 2013–2020 (USD Million)
Table 29 North America:  Natural Language Processing Market Size, By Type, 2013–2020 (USD Million)
Table 30 U.S.: Natural Language Processing Market Size, By Type, 2013–2020 (USD Million)
Table 31 Europe: Natural Language Processing Market Size, By Type, 2013–2020 (USD Million)
Table 32 U.K.: Natural Language Processing Market Size, By Vertical, 2013–2020 (USD Million)
Table 33 Asia-Pacific: Natural Language Processing Size, By Type, 2013–2020 (USD Million)
Table 34 Middle East and Africa: Natural Language Processing Size, By Type, 2013–2020 (USD Million)
Table 35 Latin America : Natural Language Processing Size, By Type, 2013–2020 (USD Million)
Table 36 Partnerships, Collaborations, and Agreements, 2009–2015
Table 37 New Product Launches, 2012–2015
Table 38 Acquisitions, 2012–2015
Table 39 Venture Funding , 2014-2015


List of Figures (36 Figures)

Figure 1 NLP for Healthcare Market: Research Design
Figure 2 Market Size Estimation Methodology: Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Top-Down Approach
Figure 4 The Evolution of Natural Language Processing
Figure 5 North America is Expected to Hold the Largest Market Share in 2015
Figure 6 Top Three Segments in the , 2015–2020
Figure 7 Growth Trend of HealthCare NLP Market (2015–2020)
Figure 8 Geographic Lifecycle Analysis (2015): Mea Market is Increasing With the Highest Growth Rate
Figure 9 NLP for Healthcare Market Investment Scenario: Mea and La Rise as the Best Opportunity Markets for Investment in the Next Five Years
Figure 10 HealthCare NLP Market: Drivers, Restraints, Opportunitites, and Challenges
Figure 11 Rule-Based NLP is Expected to Lead the NLP Market for the Healthcare and Life Sciences Industry in 2015
Figure 12 IVR Technology is Estimated to Hold the Largest Market Size in 2015
Figure 13 Professional Services Segment Holds the Majority Market Size in 2015
Figure 14 The On-Demand Deployment Model is Estimated to Hold the Largest Market Share in 2015
Figure 15 North America is Estimated to Hold the Largest Market Share in 2015
Figure 16 Companies Adopted New Product Launches as the Key Growth Strategy Over the Period of 2010–2015
Figure 17 Microsoft and 3M Show an Increase in Revenue Between 2012 and 2014
Figure 18 Battle for NLP for Healthcare Market Share: Partnerships and Collaborations are the Key Strategy
Figure 19 Geographic Revenue Mix of the Top HealthCare NLP Market Players
Figure 20 3M: Company Snapshot
Figure 21 3M : SWOT Analysis
Figure 22 IBM: Company Snapshot
Figure 23 IBM: SWOT Analysis
Figure 24 Microsoft Corporation: Company Snapshot
Figure 25 Microsoft Corporation: SWOT Analysis
Figure 26 Nuance Communication: Company Snapshot
Figure 27 Nuance Communication: SWOT Analysis
Figure 28 Cerner Corporation: Company Snapshot
Figure 29 Cerner Corporation: SWOT Analysis
Figure 30 Optum. Inc.: Company Snapshot
Figure 31 Optum, Inc.: SWOT Analysis
Figure 32 Linguamatics: Company Snapshot
Figure 33 Health Fidelity: Company Snapshot
Figure 34 Apixio: Company Snapshot
Figure 35 M*Modal : Company Snapshot
Figure 36 Dolbey System : Company Snapshot

In the Natural Language Processing (NLP) market for healthcare and life sciences industry, the solution vendors such as 3M, IBM Corp, Microsoft Corp., Nuance Communication, Cerner Corp., Health Fidelity, Apixio, Linguamatics Optum Inc., and Dolbey Systems offer high-end NLP solutions for the healthcare and life sciences industry. The HealthCare NLP Market has been segmented on the basis of type of NLP solutions into rule-based NLP, statistical NLP, and hybrid NLP. The NLP technologies are classified into broader segments including recognition, operational, and analytics, which are further spilt into their respective sub-segments.

The NLP market for healthcare and life sciences industry is growing at a rapid rate and is being pushed by a variety of growth drivers such as explosive growth of clinical data, increase in utilization of the internet, and increase in usage of connected devices. The NLP market has been forecasted to have numerous opportunities for growth, such as the growing need for “personalized medicine,” need to raise disease awareness, and investment in the healthcare industry. However, the market is going to be hampered by a few restraints, such as lack of collaborative adoption. There are a few customer segments where the NLP techniques have missed its acceptance.

A major challenging factor which is being faced by the healthcare and life sciences include challenges posed by government rules and regulations. As healthcare organizations are looking for human–to-machine translation solutions to provide better access to important clinical data, the demand for NLP solutions are increasing at a high rate.

Globally, North America and Europe have shown the maximum respective market shares in the NLP market. However, regions such as Latin America, Middle East and Africa (MEA), and Asia-Pacific (APAC) are the faster growing regions.

Further, in the NLP market, the NLP techniques are getting deployed through two kinds of models, on-premises and on-demand (cloud-based), which are covered in this report.

Overall Market Size

Natural Language Processing Market for Health Care and Life Sciences Industry

The table given above highlights the HealthCare NLP Market across five regions from 2015 to 2020. The NLP market for healthcare and life sciences industry is projected to grow to USD 2.67 Billion from USD 1.10 Billion in 2015, at a CAGR of 19.2% for the forecast period.

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