Natural Language Processing (NLP) in Healthcare and Life Sciences Market by Component (Technology and Services), Type (Rule-based, Statistical and Hybrid), Application, Deployment Mode (Cloud and On Premise) and Region - Global Forecast to 2021

MarketsandMarkets predicts the global NLP Healthcare Market to grow from USD 1.03 Billion in 2016 to USD 2.65 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 20.8%. The year 2015 has been considered as the base year, while the forecast period is 2016-2021.

This report aims to estimate the market size and future growth potential of the NLP Healthcare Market and life sciences market across different segments such as components (technology and service), type, application, deployment mode, and regions. The report aims to analyze each sub-segment with respect to individual growth trends and contribution towards the overall market and to provide detailed information regarding the major factors, which influence the growth of the market (drivers, restraints, opportunities, and industry specific challenges). The aim is to deliver competitive intelligence from market analysis and devise revenue growth strategies from the market size and forecast statistics.

Top-down and bottom-up approaches were used to estimate and validate the size of the global NLP Healthcare Market and life sciences market and to estimate the size of various other dependent subsegments. The key players in the market were identified through secondary research such as HCI International conference and their market shares in respective regions were determined through primary and secondary research. This entire procedure includes the study of annual and financial reports of top market players and extensive interviews for key insights from industry leaders. All percentage shares, splits, and breakdowns were determined by using secondary sources and verified through primary sources. All possible parameters that affect the market are covered in this research study, and have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data is consolidated and added with detailed inputs. The breakdown of profiles of primary discussion with the participants is depicted in the below figure: extensive interviews with key people such as CEOs, VPs, directors, and executives were conducted.

To know about the assumptions considered for the study, download the pdf brochure

The NLP Healthcare Market ecosystem comprises vendors, such as 3M (Minnesota), Cerner Corporation (Missouri), IBM Corporation (New York), Microsoft Corporation (Washington), Nuance Communications (Massachusetts), M*Modal (Tennessee), Health Fidelity (California), Dolbey Systems (Ohio), Linguamatics (Cambridge), and Apixio (San Mateo) and various others such as service providers and enterprises.

Target Audience:

• Medical Institutions/Organizations
• Medical Research Institutes
• NLP solution providers
• Hospitals
• Government councils
• Health information exchanges
• Health information service providers (HISPs)
• Pharmaceutical companies

Scope of the Report:

The research report categorizes the NLP Healthcare Market to forecast the revenues and analyze the trends in each of the following sub-markets:

By Component:

• Technology
• Services

By Technology:

• Interactive Voice Response (IVR)
• Optical Character Recognition (OCR)
• Pattern and Image Recognition
• Auto Coding
• Classification and Categorization
• Text Analytics
• Speech Analytics

By Service:

• Support and Maintenance
• Professional Services

By Type:

• Rule-based
• Statistical
• Hybrid

By Application:

• Machine Translation
• Automated Information Extraction
• Report Generation
• Predictive Risk Analytics
• Others (question answering, dialogue systems, email filtering, spelling correction, and search engine)

By Deployment Mode:

• Cloud
• On-Premise

By Region:

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

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

Product matrix, which gives a detailed comparison of product portfolio of each company

Company Information

Detailed analysis and profiling of additional market players (up to five)

Also early buyers will receive 10% customization on the NLP Healthcare Market report or other related report. Under customization, further segmentation of regions into different countries can be provided.

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objective of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 17)
    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 Key Industry Insights
                     2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions
           2.4.1 Assumptions

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 29)
    4.1 Attractive Market Opportunities in the NLP Healthcare Market
    4.2 Global Market –  By Type
    4.3 Global NLP Healthcare Market
    4.4 Lifecycle Analysis, By Region 2016
    4.5 Market Potential
    4.6 NLP in Healthcare and Life Sciences: Region Wise Adoption Scenario

5 NLP Healthcare Market Overview (Page No. - 33)
    5.1 Introduction
    5.2 Market Segmentation
    5.3 Market Segmentation
           5.3.1 By Component
           5.3.2 By Type
           5.3.3 By Application
           5.3.4 By Deployment Mode
           5.3.5 By Region
    5.4 Market Dynamics
           5.4.1 Drivers
                     5.4.1.1 Huge Surge in Clinical Data
                     5.4.1.2 Increase in the Use of Connected Devices
                     5.4.1.3 Evolving Consumer Needs
           5.4.2 Restraints
                     5.4.2.1 Limited Access to Clinical Data
                     5.4.2.2 Lack of Institutional Commitment
           5.4.3 Opportunities
                     5.4.3.1 Government Policies and Initiatives
                     5.4.3.2 Integration of Social Media for Assessing Population Health
           5.4.4 Challenges
                     5.4.4.1 Unstructured Clinical Notes and Text

6 NLP Healthcare Market: Industry Trends (Page No. - 41)
    6.1 Introduction
    6.2 Evolution
    6.3 Value Chain Analysis
    6.4 Strategic Benchmarking

7 NLP Healthcare Market, By Component (Page No. - 45)
    7.1 Introduction
    7.2 Technology
           7.2.1 Interactive Voice Response
           7.2.2 Optical Character Recognition
           7.2.3 Pattern and Image Recognition
           7.2.4 Auto Coding
           7.2.5 Classification and Categorization
           7.2.6 Text Analytics
           7.2.7 Speech Analytics
    7.3 Services
           7.3.1 Professional Services
           7.3.2 Support and Maintenance Services

8 NLP Healthcare Market, By Type (Page No. - 56)
    8.1 Introduction
    8.2 Rule-Based NLP
    8.3 Statistical-Based NLP
    8.4 Hybrid NLP

9 NLP Healthcare Market, By Application (Page No. - 61)
    9.1 Introduction
    9.2 Predictive Risk Analytics
    9.3 Machine Translation
    9.4 Information Extraction
    9.5 Report Generation
    9.6 Others

10 NLP Healthcare Market, By Deployment Mode (Page No. - 67)
     10.1 Introduction
     10.2 On-Premise
     10.3 Cloud

11 Geographic Analysis (Page No. - 71)
     11.1 Introduction
     11.2 North America
               11.2.1 U.S.
               11.2.2 Canada
     11.3 Europe
               11.3.1 U.K.
               11.3.2 Germany
               11.3.3 France
               11.3.4 Rest of Europe
     11.4 Asia-Pacific (APAC)
               11.4.1 China
               11.4.2 Japan
               11.4.3 Korea
               11.4.4 Rest of Asia-Pacific
     11.5 Middle East and Africa
               11.5.1 Middle East
               11.5.2 Africa
     11.6 Latin America
               11.6.1 Brazil
               11.6.2 Mexico
               11.6.3 Rest of Latin America

12 Competitive Landscape (Page No. - 95)
     12.1 Introduction
     12.2 Competitive Situation and Trends
               12.2.1 New Product Launches and Enhancements
               12.2.2 Partnerships, Agreements, and Collaborations
               12.2.3 Mergers and Acquisitions
               12.2.4 Integrations and Expansions

13 Company Profiles (Page No. - 101)
(Overview, Products & Services, Strategies & Insights, Developments and MnM View)*
     13.1 Introduction
     13.2 3M
     13.3 Cerner Corporation
     13.4 IBM Corporation
     13.5 Microsoft Corporation
     13.6 Nuance Communications, Inc.
     13.7 Heath Fidelity
     13.8 Linguamatics
     13.9 Dolbey Systems, Inc.
     13.10 Apixio
     13.11 Mmodal IP PLC 
     13.12 Clinithink Inc.

*Details on Overview, Products & Services, Strategies & Insights, Developments and MnM View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 128)
     14.1 Industry Experts
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Introducing RT: Real-Time Market Intelligence
     14.5 Related Reports

List of Tables (66 Tables)

Table 1 Global NLP Healthcare Market Size and Growth Rate, 2014-2021 (USD Million) (Y-O-Y %)
Table 2 Market Size, By Component, 2014-2021 (USD Million)
Table 3 Market Size, By Technology, 2014-2021 (USD Million)
Table 4 Interactive Voice Response: Market Size, By Region, 2014-2021 (USD Million)
Table 5 Optical Character Recognition: Market Size, By Region, 2014-2021 (USD Million)
Table 6 Pattern and Image Recognition: Market Size, By Region, 2014-2021 (USD Million)
Table 7 Auto Coding: NLP Healthcare Market Size, By Region, 2014-2021 (USD Million)
Table 8 Classification and Categorization: Market Size, By Region, 2014-2021 (USD Million)
Table 9 Text Analytics: Market Size, By Region, 2014-2021 (USD Million)
Table 10 Speech Analytics: Market Size, By Region, 2014-2021 (USD Million)
Table 11 NLP in Healthcare and Life Sciences Market Size, By Service, 2014-2021 (USD Million)
Table 12 Professional Services: Market Size, By Region, 2014-2021 (USD Million)
Table 13 Support and Maintenance Services: Market Size, By Region, 2014-2021 (USD Million)
Table 14 NLP in Healthcare and Life Sciences Market Size, By Type, 2014-2021 (USD Million)
Table 15 Rule Based: Market Size, By Region, 2014-2021 (USD Million)
Table 16 Statistical-Based: Market Size, By Region, 2014-2021 (USD Million)
Table 17 Hybrid NLP: Market Size, By Region, 2014-2021 (USD Million)
Table 18 NLP in Healthcare and Life Sciences Market Size, By Application, 2014-2021 (USD Million)
Table 19 Predictive Risk Analytics: Market Size, By Region, 2014-2021 (USD Million)
Table 20 Machine Translation: Market Size, By Region, 2014-2021 (USD Million)
Table 21 Information Extraction: NLP Healthcare Market Size, By Region, 2014-2021 (USD Million)
Table 22 Report Generation: Market Size, By Region, 2014-2021 (USD Million)
Table 23 Others: Market Size, By Region, 2014-2021 (USD Million)
Table 24 NLP in Healthcare and Life Sciences Market Size, By Deployment Mode, 2014-2021 (USD Million)
Table 25 On-Premise: Market Size, By Region, 2014-2021 (USD Million)
Table 26 Cloud: Market Size, By Region, 2014-2021 (USD Million)
Table 27 Natural Language Processing in Healthcare and Life Sciences Market Size, By Region, 2014-2021 (USD Million)
Table 28 North America: Natural Language Processing in Healthcare and Life Sciences Market Size, By Country, 2014-2021 (USD Million)
Table 29 North America: NLP Healthcare Market Size, By Component, 2014-2021 (USD Million)
Table 30 North America: Market Size, By Technology, 2014-2021 (USD Million)
Table 31 North America: Market Size, By Service, 2014-2021 (USD Million)
Table 32 North America: Market Size, By Type, 2014-2021 (USD Million)
Table 33 North America: Market Size, By Application, 2014-2021 (USD Million)
Table 34 North America: Market Size, By Deployment Mode, 2014-2021 (USD Million)
Table 35 Europe: NLP Healthcare Market Size, By Country, 2014-2021 (USD Million)
Table 36 Europe: Market Size, By Component, 2014-2021 (USD Million)
Table 37 Europe: Market Size, By Technology, 2014-2021 (USD Million)
Table 38 Europe: Market Size, By Service, 2014-2021 (USD Million)
Table 39 Europe: Market Size, By Type, 2014-2021 (USD Million)
Table 40 Europe: Market Size, By Application, 2014-2021 (USD Million)
Table 41 Europe: Market Size, By Deployment Mode, 2014-2021 (USD Million)
Table 42 Asia-Pacific: Market Size, By Country, 2014-2021 (USD Million)
Table 43 Asia-Pacific: NLP Healthcare Market Size, By Component, 2014-2021 (USD Million)
Table 44 Asia-Pacific: Market Size, By Technology, 2014-2021 (USD Million)
Table 45 Asia-Pacific: Market Size, By Service, 2014-2021 (USD Million)
Table 46 Asia-Pacific: Market Size, By Type, 2014-2021 (USD Million)
Table 47 Asia-Pacific: Market Size, By Application, 2014-2021 (USD Million)
Table 48 Asia-Pacific: Market Size, By Deployment Mode, 2014-2021 (USD Million)
Table 49 Middle East & Africa: Market Size, By Country, 2014-2021 (USD Million)
Table 50 Middle East & Africa: NLP Healthcare Market Size, By Component, 2014-2021 (USD Million)
Table 51 Middle East & Africa: Market Size, By Technology, 2014-2021 (USD Million)
Table 52 Middle East & Africa: Market Size, By Service, 2014-2021 (USD Million)
Table 53 Middle East & Africa: Market Size, By Type, 2014-2021 (USD Million)
Table 54 Middle East & Africa: Market Size, By Application, 2014-2021 (USD Million)
Table 55 Middle East & Africa: Market Size, By Deployment Mode, 2014-2021 (USD Million)
Table 56 Latin America: Market Size, By Country, 2014-2021 (USD Million)
Table 57 Latin America: Market Size, By Component, 2014-2021 (USD Million)
Table 58 Latin America: Market Size, By Technology, 2014-2021 (USD Million)
Table 59 Latin America: Market Size, By Service, 2014-2021 (USD Million)
Table 60 Latin America: Market Size, By Type, 2014-2021 (USD Million)
Table 61 Latin America: Market Size, By Application, 2014-2021 (USD Million)
Table 62 Latin America: NLP Healthcare Market Size, By Deployment Mode, 2014-2021 (USD Million)
Table 63 New Product Launches and Enhancements, 2013-2016
Table 64 Partnerships, Agreements, and Collaborations, 2013-2016
Table 65 Mergers and Acquisitions, 2014-2016
Table 66 Integrations and Expansions, 2014-2016
 
 
List of Figures (46 Figures)
 
Figure 1 Global NLP Healthcare Market: Research Design
Figure 2 Global Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Market Size, By Technology  (2016 & 2021): Pattern and Image Recognition is Expected  to Witness the Highest CAGR
Figure 7 Market Size, By Application  (2016 & 2021): Report Generation is Expected to Have the Highest CAGR
Figure 8 Market Size, By Type (2016 & 2021): Statistical NLP is Expected to Lead the NLP in Healthcare and Life Sciences Market
Figure 9 Market Share, By Deployment Mode (2016): Cloud Deployment is Expected to Witness Higher CAGR
Figure 10 Global Market Share – North America is Estimated to Hold the Largest Market Share in 2016
Figure 11 Hybrid NLP in Expected to Grow at the Highest CAGR During the Forecast Period
Figure 12 North America is Estimated to Hold the Maximum Share in the Market (2016)
Figure 13 Regional Lifecycle – North America Expected to Grow With the Highest CAGR During the Forecast Period
Figure 14 North America is Expected to Have the Highest Growth Potential During the Forecast Period
Figure 15 APAC Market is Expected to Grow Faster as Compared to Other Regions During the Forecast Period
Figure 16 NLP Healthcare Market Segmentation
Figure 17 Market Segmentation: By Component
Figure 18 NLP in Healthcare and Life Sciences Segmentation: By Type
Figure 19 Market Segmentation: By Application
Figure 20 Market Segmentation: By Deployment Mode
Figure 21 Market Segmentation: By Region
Figure 22 Drivers, Restraints, Opportunities, and Challenges of the NLP in Healthcare and Life Sciences Market
Figure 23 NLP Healthcare Market: Value Chain Analysis
Figure 24 Strategic Benchmarking: New Product Launches and Enhancements is the Key Growth Strategy Adopted By Key Market Players From  2014 to 2016
Figure 25 Technology Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 26 Pattern and Image Recognition is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 27 Professional Services is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 28 Statistical-Based NLP Going to Exibit the Highest Growth Rate for the Forecast Period
Figure 29 Report Generation Application Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 30 Cloud Deployment is Expected to Grow With the Highest Market Share During the Forecast Period
Figure 31 North America is Projected to Exhibit the Highest Growth Rate in the Market
Figure 32 Geographic Snapshot: North America is Estimated to Account for the Highest CAGR in the NLP Healthcare Market 
Figure 33 North America Snapshot
Figure 34 Companies Adopted New Product Launch and Enhancement as the Key Growth Strategy Over the Last Three Years
Figure 35 Market Evaluation Framework
Figure 36 Battle for Market Share: New Product Launch and Enhancement Was the Key Growth Strategy of the Market
Figure 37 Geographic Revenue Mix of Top 5 Players
Figure 38 3M : Company Snapshot
Figure 39 3M : SWOT Analysis
Figure 40 Cerner Corporation: Company Snapshot
Figure 41 IBM Corporation: Company Snapshot
Figure 42 IBM Corporation : SWOT Analysis
Figure 43 Microsoft Corporation: Company Snapshot
Figure 44 Microsoft Corporation : SWOT Analysis
Figure 45 Nuance Communications, Inc. : Company Snapshot
Figure 46 Nuance Communications, Inc.: SWOT Analysis

MarketsandMarkets forecasts the NLP Healthcare Market size to grow from USD 1.03 Billion in 2016 to USD 2.65 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 20.8%. Major factors contributing to the growth of the NLP market are upsurge in clinical data, increase in smart device usage, and demand for enhanced customer experience.

The NLP Healthcare Market is segmented by component, application, type, deployment model, and region. The component segment is further segmented into technology and services. The various NLP technologies are categorized into three major types, namely recognition technologies, operational technologies, and analytics technologies. Among all, the interactive voice response technology is expected to dominate the NLP in healthcare and life sciences market in terms of market size while optical character recognition and pattern image recognition technologies are expected to grow at the highest CAGR during the forecast period.

The NLP Healthcare Market includes professional services and support and maintenance services. Among them, professional services segment is forecast to grow at the highest CAGR, this is due to the fact that organizations are looking for NLP solutions along with installation, maintenance, and consulting services in the NLP market.

Major applications of NLP Healthcare Market are machine translation, information extraction, report generation, and predictive risk analytics. The machine translation application is estimated to have the highest market size in the forecast period. This is mainly because machine translation is the building block of all other NLP applications and it converts speech or text inputs from one language to another.

The NLP Healthcare Market industry is driven by enormous surge in clinical data and growing usage of connected devices and this market’s growth is further fueled due to necessity to better manage clinical documentation and analyze it into actionable results.

North America is expected to have the largest market share and would dominate the NLP Healthcare Market from 2016 to 2021, due to the presence of a large number of NLP vendors and its acceptance of healthcare IT solutions. APAC offers potential growth opportunities for the NLP market to grow. The key factors driving the growth rate in this market are increasing data generation in business organizations across the globe, growing demand for enhanced customer experience, and increase in the adoption and utility of smart devices.

Limited access to clinical data and lack of institutional commitment are the factors that are majorly restraining the growth of this market in the healthcare and life sciences industry.

The major vendors in the NLP Healthcare Market include 3M (Minnesota, U.S.), Cerner Corporation (Missouri, U.S.), Dolbey Systems (Ohio, U.S.), Inc., IBM Corporation (New York, U.S.), Microsoft Corporation (Washington, U.S.), M*Modal (Tennessee, U.S.), Nuance Communications, Inc. (Massachusetts, U.S.), Health Fidelity (California, U.S.), Linguamatics (Cambridge, U.K.), and Apixio (San Mateo, U.S.) and others. These players adopted various strategies, such as mergers, partnerships, collaborations, and new product launches to cater to the needs of the NLP market.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst