Natural Language Processing (NLP) in Healthcare and Life Sciences Market

Natural Language Processing (NLP) in Healthcare and Life Sciences Market by Component, NLP Type, Application (Pattern and Image Recognition, and Auto Coding), Deployment Mode, Organization Size, End User, and Region - Global Forecast to 2025

Report Code: TC 3660 Apr, 2020, by marketsandmarkets.com

The global Natural Language Processing (NLP) in healthcare and life sciences market size to grow from USD 1.5 billion in 2020 to USD 3.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 20.5% during the forecast period. The major growth factors of the NLP in healthcare and life sciences market include the rising urge for predictive analytics to reduce risks and improve significant health concerns and growing demand for improving Electronic Health Record (EHR) data usability to enhance patient care.

Natural Language Processing (NLP) in Healthcare and Life Sciences Market

Among applications, the pattern and image recognition segment to grow at the highest CAGR during the forecast period

With the growing use of Artificial Intelligence (AI), the frontiers of healthcare, augmenting diagnostic and treatment tools, and helping healthcare professionals prognosticate diseases is expected to increase. Computer vision and Machine Learning (ML) algorithms have further helped in the detection of precancerous lesions using the minutest details in tissue imagery, thus increasing the sensitivity and accuracy of cancer screening tests. In screening for skin cancer, for instance, AI researchers have developed computer vision models that can analyze images and biopsy specimens of a person having cancer and how his/her skin can change much faster and more accurately than a doctor would.

Diagnosing skin cancer may be a challenging task because of the minute variability in the appearance of cancerous skin changes. But by using a deep Convolutional Neural Networks (CNNs), scientists at the Stanford University Artificial Intelligence Lab created a model that analyzes skin images against a dataset of more than 1,20,000 skin cancer images. The results revealed that this CNN model detect and classify skin cancer as efficiently as certified dermatologists.

Cloud deployment mode to grow at a rapid pace during the forecast period

Most vendors in the NLP in healthcare and life sciences market offer cloud-based NLP solutions to maximize profits and automate the equipment maintenance process, effectively. The adoption of cloud-based NLP in healthcare and life sciences solutions is expected to grow, owing to benefits, such as easy maintenance of generated data, cost-effectiveness, agility, flexibility, scalability, and effective management of these solutions. Companies prefer to adopt cloud-based NLP solutions, as these support their regional, cross-regional, or cross-country data recovery strategies. This enables organizations to ensure resilience in case of disasters.

Natural Language Processing (NLP) in Healthcare and Life Sciences Market

North America to hold the highest market share during the forecast period

North America is expected to hold the highest share in the global NLP in healthcare and life sciences market, while Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. North America is the most significant revenue contributor in the global market. The region is witnessing significant developments in the market. In North America, the high growth rate can be attributed to the rising digital transformations in the healthcare and life sciences industries and growing use of patient health record systems in the region. The management of these health records through ML- and NLP-based advanced systems is a leading factor responsible for the market growth.

Key market players

Major vendors in the global NLP in healthcare and life sciences market include 3M (US), Cerner (US), Nuance (US), Health Fidelity (US), Dolbey (US), Microsoft (US), IBM (US), Google (US), AWS (US), Apixio (US), Averbis (Germany), Linguamatics (UK), Clinithink (Georgia), Wave Health Technologies (Georgia), Inovalon (US), and Lexalytics (US). These vendors have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to expand their presence in the global market.

3M (US) operates in the fields of industries, worker safety, consumer goods, and healthcare. Its product offerings include adhesives, laminates, fire protection kits, window films, paint protection kits, medical products, car care products, healthcare software, electronic circuits and optical films. The company caters to a wide range of verticals, including automotive, commercial solutions, communications, design and constructions, electronics, energy, healthcare, manufacturing, mining oil and gas, and safety and transportation. It has geographical presence in more than 70 countries. In NLP in healthcare and life sciences market, it offers the NLP platform, which automates the process of mining clinical concepts from unstructured data. The 3M Health Information System (HIS) uses NLP to autosuggest codes that helps coders to turn clinical documentation into rich data sources, thus helping coders to save time. 3M has come up with a NLP software platform named, CodeRyte CodeAssist that helps capture the physician’s report and record diseases. All of this results in improvement in productivity, performance, and efficiency.

Scope of the Report

Report Metric

Details

Market size available for years

2018–2025

Base year considered

2019

Forecast period

2020–2025

Forecast units

Billion (USD)

Segments covered

Component, NLP Type, Application, Deployment Mode, Organization Size, End User, and Region

Geographies covered

North America, Europe, APAC, Latin America, and MEA

Companies covered

3M (US), Cerner (US), Nuance (US), Health Fidelity (US), Dolbey (US), Microsoft (US), IBM (US), Google (US), AWS (US), Apixio (US), Averbis (Germany), Linguamatics (UK), Clinithink (Georgia), Wave Health Technologies (Georgia), Inovalon (US), and Lexalytics (US)

This research report categorizes the market based on components, NLP types, deployment modes, organization size, applications, end users and regions.

By component, the NLP in healthcare and life sciences market is divided into the following segments:

  • Standalone Solutions
  • Services
    • Support and Maintenance
    • Professional Services

By NLP type, the NLP in healthcare and life sciences market is divided into the following segments:

  • Rule-based NLP
  • Statistical NLP
  • Hybrid NLP

By application, the NLP in healthcare and life sciences market is divided into the following segments:

  • Interactive Voice Response (IVR)
  • Pattern and Image Recognition
  • Auto Coding
  • Classification and Categorization
  • Text and Speech Analytics
  • Others (Information Extraction and Report Generation)

By deployment mode, the NLP in healthcare and life sciences market is divided into the following segments:

  • Cloud
  • On-premises

By organization size, the NLP in healthcare and life sciences market is divided into the following segments:

  • Large Enterprises
  • Small and Medium-sized Enterprises (SMEs)

By organization size, the NLP in healthcare and life sciences market is divided into the following segments:

  • NLP for Physicians
  • NLP for Researchers
  • NLP for Patients
  • NLP for Clinical Operators

By region, the NLP in healthcare and life sciences market is divided into the following segments:

  • North America
    • United States (US)
    • Canada
  • Europe
    • United Kingdom (UK)
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • Japan
    • India
    • Rest of APAC
  • MEA
    • Middle East
    • Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America

Critical questions the report answers

  • What are the current trends driving the NLP in healthcare and life sciences market?
  • Which applications are most healthcare companies deploying in the market?
  • Where will recent developments of market vendors take the industry in the mid- to long-term?
  • Who are the top vendors in the market, and what is their competitive analysis?
  • What are the drivers and challenges faced by vendors in the market?

Frequently Asked Questions (FAQ):

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

TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 19)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 MARKET SCOPE
           1.3.1 MARKET SEGMENTATION
           1.3.2 YEARS CONSIDERED FOR THE STUDY
    1.4 CURRENCY CONSIDERED
    1.5 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 22)
    2.1 RESEARCH DATA
           2.1.1 SECONDARY DATA
           2.1.2 PRIMARY DATA
                    2.1.2.1 Breakup of primary profiles
    2.2 MARKET BREAKUP AND DATA TRIANGULATION
           2.2.1 KEY INDUSTRY INSIGHTS
    2.3 MARKET SIZE ESTIMATION
           2.3.1 TOP-DOWN APPROACH
           2.3.2 BOTTOM-UP APPROACH
    2.4 MARKET FORECAST
    2.5 ASSUMPTIONS FOR THE STUDY
    2.6 LIMITATIONS OF THE STUDY

3 EXECUTIVE SUMMARY (Page No. - 34)

4 PREMIUM INSIGHTS (Page No. - 40)
    4.1 ATTRACTIVE OPPORTUNITIES IN THE MARKET
    4.2 TOP 3 APPLICATIONS
    4.3 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION
    4.4 NORTH AMERICA NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY COMPONENT AND APPLICATION

5 MARKET OVERVIEW AND INDUSTRY TRENDS (Page No. - 43)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Rising urge of predictive analytics to reduce risk and improve significant health concerns
                    5.2.1.2 Growing demand for improving EHR data usability to better patient care
                    5.2.1.3 Ability to analyze and extract meaning from narrative text and non-related data sources
           5.2.2 RESTRAINTS
                    5.2.2.1 Specific medical sub-languages and poor input data quality
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Ensemble of NLP systems to boost phenotyping capabilities
                    5.2.3.2 Rising demand for NLP systems programmed to understand the context of medical records
           5.2.4 CHALLENGES
                    5.2.4.1 Growing regulatory compliance and privacy concerns over data security slowing down the progress of researchers
    5.3 CASE STUDIES
           5.3.1 DREXEL UNIVERSITY USED LINGUAMATICS I2E TO IMPROVE COHORT SELECTION FOR HIV AND HEPATITIS C
           5.3.2 A HEALTHCARE COMPANY USED AXTRIA TO PROVIDE A COMPREHENSIVE VIEW OF PATIENT REPORTS AND DELIVER CRITICAL INSIGHTS TO BOTH HEALTHCARE PROVIDERS AND THE COMPANY
           5.3.3 TO CREATE A DATABASE AND MEDICAL KNOWLEDGE BASE FOR AN ONLINE CLINIC CHATBOT TO BUILD UP ANAMNESIS
           5.3.4 TO PREDICT HIGH-RISK CHRONIC KIDNEY DISEASE PATIENTS
    5.4 REGULATORY IMPLICATIONS
           5.4.1 GENERAL DATA PROTECTION REGULATION
           5.4.2 HEALTH LEVEL SEVEN
           5.4.3 HEALTH INSURANCE PORTABILITY AND ACCOUNTABILITY ACT OF 1996
           5.4.4 CEN ISO/IEEE 11073
           5.4.5 HIPAA SECURITY RULE
           5.4.6 HIPAA PRIVACY RULE
    5.5 NLP IN HEALTHCARE AND LIFE SCIENCES: ARCHITECTURE
    5.6 FUTURE OUTLOOK: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET
           5.6.1 HEALTHCARE TRACKERS, WEARABLES, AND SENSORS
           5.6.2 VIRTUAL REALITY
           5.6.3 AUGMENTED REALITY
           5.6.4 3D PRINTING
           5.6.5 ROBOTICS
           5.6.6 NANOTECHNOLOGY

6 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY COMPONENT (Page No. - 56)
    6.1 INTRODUCTION
           6.1.1 COMPONENT: MARKET DRIVERS
    6.2 STANDALONE SOLUTIONS
    6.3 SERVICES
           6.3.1 PROFESSIONAL SERVICES
           6.3.2 SUPPORT AND MAINTENANCE

7 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY NLP TYPE (Page No. - 62)
    7.1 INTRODUCTION
           7.1.1 NLP TYPE: MARKET DRIVERS
    7.2 RULE-BASED NATURAL LANGUAGE PROCESSING
    7.3 STATISTICAL NATURAL LANGUAGE PROCESSING
    7.4 HYBRID NATURAL LANGUAGE PROCESSING

8 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY DEPLOYMENT MODE (Page No. - 67)
    8.1 INTRODUCTION
           8.1.1 DEPLOYMENT MODE: MARKET DRIVERS
    8.2 ON-PREMISES
    8.3 CLOUD

9 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY ORGANIZATION SIZE (Page No. - 71)
    9.1 INTRODUCTION
           9.1.1 ORGANIZATION SIZE: MARKET DRIVERS
    9.2 LARGE ENTERPRISES
    9.3 SMALL AND MEDIUM-SIZED ENTERPRISES

10 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY APPLICATION (Page No. - 75)
     10.1 INTRODUCTION
             10.1.1 APPLICATION: MARKET DRIVERS
     10.2 INTERATIVE VOICE RESPONSE
     10.3 PATTERN AND IMAGE RECOGNITION
     10.4 AUTO CODING
     10.5 CLASSIFICATION AND CATEGORIZATION
     10.6 TEXT AND SPEECH ANALYTICS
     10.7 OTHERS

11 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY END USER (Page No. - 83)
     11.1 INTRODUCTION
             11.1.1 END USER: MARKET DRIVERS
     11.2 NLP FOR PHYSICIANS
     11.3 NLP FOR RESEARCHERS
     11.4 NLP FOR PATIENTS
     11.5 NLP FOR CLINICAL OPERATORS

12 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION (Page No. - 89)
     12.1 INTRODUCTION
     12.2 NORTH AMERICA
             12.2.1 NORTH AMERICA: MARKET DRIVERS
             12.2.2 UNITED STATES
             12.2.3 CANADA
     12.3 EUROPE
             12.3.1 EUROPE: MARKET DRIVERS
             12.3.2 UNITED KINGDOM
             12.3.3 GERMANY
             12.3.4 FRANCE
             12.3.5 REST OF EUROPE
     12.4 ASIA PACIFIC
             12.4.1 CHINA
             12.4.2 JAPAN
             12.4.3 INDIA
             12.4.4 REST OF ASIA PACIFIC
     12.5 MIDDLE EAST AND AFRICA
             12.5.1 MIDDLE EAST AND AFRICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET DRIVERS
             12.5.2 MIDDLE EAST
             12.5.3 AFRICA
     12.6 LATIN AMERICA
             12.6.1 LATIN AMERICA: MARKET DRIVERS
             12.6.2 BRAZIL
             12.6.3 MEXICO
             12.6.4 REST OF LATIN AMERICA

13 COMPETITIVE LANDSCAPE (Page No. - 137)
     13.1 MICROQUADRANT OVERVIEW
     13.2 COMPETITIVE LEADERSHIP MAPPING
             13.2.1 VISIONARY LEADERS
             13.2.2 INNOVATORS
             13.2.3 DYNAMIC DIFFERENTIATORS
             13.2.4 EMERGING COMPANIES

14 COMPANY PROFILES (Page No. - 139)
(Business Overview, Solutions and Services Offered, SWOT Analysis, Recent Developments, Right-to-win)*
     14.1 INTRODUCTION
     14.2 3M
     14.3 MICROSOFT
     14.4 CERNER
     14.5 NUANCE
     14.6 DOLBEY
     14.7 IBM
     14.8 APIXIO
     14.9 AVERBIS
     14.10 GOOGLE
     14.11 AWS
     14.12 LINGUAMATICS
     14.13 CLINITHINK
     14.14 INOVALON
     14.15 HEALTH FIDELITY
     14.16 LEXALYTICS
     14.17 WAVE HEALTH TECHNOLOGIES

*Business Overview, Solutions and Services Offered, SWOT Analysis, Recent Developments, Right-to-win might not be captured in case of unlisted companies.

15 APPENDIX (Page No. - 176)
     15.1 INDUSTRY EXPERTS
     15.2 DISCUSSION GUIDE
     15.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     15.4 AVAILABLE CUSTOMIZATIONS
     15.5 RELATED REPORTS
     15.6 AUTHOR DETAILS


LIST OF TABLES (121 TABLES)

TABLE 1 UNITED STATES DOLLAR EXCHANGE RATE, 2017–2019
TABLE 2 FACTOR ANALYSIS
TABLE 3 GLOBAL NLP IN HEALTHCARE AND LIFE SCIENCES MARKET SIZE AND GROWTH RATE, 2018–2025 (USD MILLION, Y-O-Y %)
TABLE 4 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
TABLE 5 STANDALONE SOLUTIONS: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 6 MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
TABLE 7 SERVICES: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 8 PROFESSIONAL SERVICES MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 9 SUPPORT AND MAINTENANCE MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 10 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET SIZE, BY NLP TYPE, 2018–2025 (USD MILLION)
TABLE 11 RULE-BASED NLP: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 12 STATISTICAL NLP: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 13 HYBRID NLP: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 14 MARKET SIZE, BY DEPLOYMENT MODE, 2018–2025 (USD MILLION)
TABLE 15 ON-PREMISES: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 16 CLOUD: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 17 MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 18 LARGE ENTERPRISES: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 19 SMALL AND MEDIUM-SIZED ENTERPRISES: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 20 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 21 INTERATIVE VOICE RESPONSE: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 22 PATTERN AND IMAGE RECOGNITION: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 23 AUTO CODING: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 24 CLASSIFICATION AND CATEGORIZATION: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 25 TEXT AND SPEECH ANALYTICS: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 26 OTHERS: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 27 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 28 NLP FOR PHYSICIANS: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 29 NLP FOR RESEARCHERS: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 30 NLP FOR PATIENTS: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 31 NLP FOR CLINICAL OPERATORS: MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 32 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 33 NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
TABLE 34 NORTH AMERICA: MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
TABLE 35 NORTH AMERICA: MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 36 NORTH AMERICA: MARKET SIZE, BY NLP TYPE, 2018–2025 (USD MILLION)
TABLE 37 NORTH AMERICA: MARKET SIZE, BY DEPLOYMENT MODE, 20182025 (USD MILLION)
TABLE 38 NORTH AMERICA: MARKET SIZE, BY ORGANIZATION SIZE, 2020–2025 (USD MILLION)
TABLE 39 NORTH AMERICA: MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 40 NORTH AMERICA: MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 41 UNITED STATES: MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
TABLE 42 UNITED STATES: MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
TABLE 43 UNITED STATES: MARKET SIZE, BY NLP TYPE, 2018–2025 (USD MILLION)
TABLE 44 UNITED STATES: MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 45 UNITED STATES: MARKET SIZE, BY DEPLOYMENT MODE, 2018–2025 (USD MILLION)
TABLE 46 UNITED STATES: MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 47 UNITED STATES: MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 48 CANADA: MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
TABLE 49 CANADA: MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
TABLE 50 CANADA: MARKET SIZE, BY NLP TYPE, 2018–2025 (USD MILLION)
TABLE 51 CANADA: MARKET SIZE, BY DEPLOYMENT MODE, 2018–2025 (USD MILLION)
TABLE 52 CANADA: MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 53 CANADA: MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 54 EUROPE: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
TABLE 55 EUROPE: MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
TABLE 56 EUROPE: MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 57 EUROPE: MARKET SIZE, BY NLP TYPE, 2018–2025 (USD MILLION)
TABLE 58 EUROPE: MARKET SIZE, BY DEPLOYMENT MODE, 2018–2025 (USD MILLION)
TABLE 59 EUROPE: MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 60 EUROPE: MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 61 EUROPE: MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 62 UNITED KINGDOM: MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
TABLE 63 UNITED KINGDOM: MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
TABLE 64 UNITED KINGDOM: MARKET SIZE, BY NLP TYPE, 2018–2025 (USD MILLION)
TABLE 65 UNITED KINGDOM: MARKET SIZE, BY DEPLOYMENT MODE, 2018–2025 (USD MILLION)
TABLE 66 UNITED KINGDOM: MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 67 UNITED KINGDOM: MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 68 GERMANY: MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
TABLE 69 GERMANY: MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
TABLE 70 GERMANY: MARKET SIZE, BY DEPLOYMENT MODE, 2018–2025 (USD MILLION)
TABLE 71 GERMANY: MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 72 GERMANY: MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 73 FRANCE: MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
TABLE 74 FRANCE: MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
TABLE 75 FRANCE: MARKET SIZE, BY NLP TYPE, 2018–2025 (USD MILLION)
TABLE 76 FRANCE: MARKET SIZE, BY DEPLOYMENT MODE, 2018–2025 (USD MILLION)
TABLE 77 FRANCE: MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 78 FRANCE: MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 79 ASIA PACIFIC: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
TABLE 80 ASIA PACIFIC: MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
TABLE 81 ASIA PACIFIC: MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 82 ASIA PACIFIC: MARKET SIZE, BY NLP TYPE, 2018–2025 (USD MILLION)
TABLE 83 ASIA PACIFIC: MARKET SIZE, BY DEPLOYMENT MODE, 2018–2025 (USD MILLION)
TABLE 84 ASIA PACIFIC: MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 85 ASIA PACIFIC: MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 86 ASIA PACIFIC: MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 87 CHINA: MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
TABLE 88 CHINA: MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
TABLE 89 CHINA: MARKET SIZE, BY NLP TYPE, 2018–2025 (USD MILLION)
TABLE 90 CHINA: MARKET SIZE, BY DEPLOYMENT MODE, 2018–2025 (USD MILLION)
TABLE 91 CHINA: MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 92 CHINA: MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 93 JAPAN: MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
TABLE 94 JAPAN: MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
TABLE 95 JAPAN: MARKET SIZE, BY NLP TYPE, 2018–2025 (USD MILLION)
TABLE 96 JAPAN: MARKET SIZE, BY DEPLOYMENT MODE, 2018–2025 (USD MILLION)
TABLE 97 JAPAN: MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 98 JAPAN: MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 99 INDIA: MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
TABLE 100 INDIA: MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
TABLE 101 INDIA: MARKET SIZE, BY NLP TYPE, 2018–2025 (USD MILLION)
TABLE 102 INDIA: MARKET SIZE, BY DEPLOYMENT MODE, 2018–2025 (USD MILLION)
TABLE 103 INDIA: MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 104 INDIA: MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 105 MIDDLE EAST AND AFRICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET SIZE, BY COMPONENT, 2018–202 (5USD MILLION)
TABLE 106 MIDDLE EAST AND AFRICA: MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
TABLE 107 MIDDLE EAST AND AFRICA: MARKET SIZE, BY DEPLOYMENT MODE, 2018–2025 (USD MILLION)
TABLE 108 MIDDLE EAST AND AFRICA: MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 109 MIDDLE EAST AND AFRICA: MARKET SIZE, BY NLP TYPE, 2018–2025 (USD MILLION)
TABLE 110 MIDDLE EAST AND AFRICA: MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 111 MIDDLE EAST AND AFRICA: MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 112 MIDDLE EAST AND AFRICA: MARKET SIZE, BY SUB-REGION, 2018–2025 (USD MILLION)
TABLE 113 LATIN AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET SIZE, BY COMPONENT, 2018–2025 (USD MILLION)
TABLE 114 LATIN AMERICA: MARKET SIZE, BY SERVICE, 2018–2025 (USD MILLION)
TABLE 115 LATIN AMERICA: MARKET SIZE, BY DEPLOYMENT MODE, 2018–2025 (USD MILLION)
TABLE 116 LATIN AMERICA: MARKET SIZE, BY ORGANIZATION SIZE, 2018–2025 (USD MILLION)
TABLE 117 LATIN AMERICA: MARKET SIZE, BY NLP TYPE, 2018–2025 (USD MILLION)
TABLE 118 LATIN AMERICA: MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 119 LATIN AMERICA: MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 120 LATIN AMERICA: MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 121 EVALUATION CRITERIA

LIST OF FIGURES (51 FIGURES)

FIGURE 1 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET: RESEARCH DESIGN
FIGURE 2 DATA TRIANGULATION
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY – APPROACH 1 (SUPPLY SIDE): REVENUE OF SOLUTIONS/SERVICES OF THE MARKET
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY – APPROACH 2 BOTTOM-UP (SUPPLY SIDE): COLLECTIVE REVENUE OF ALL SOLUTIONS/SERVICES OF THE MARKET
FIGURE 5 MARKET SIZING METHODOLOGY – APPROACH 3: COMPONENT LEVEL BOTTOM-UP
FIGURE 6 MARKET: TOP-DOWN AND BOTTOM-UP APPROACHES
FIGURE 7 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET SNAPSHOT, BY COMPONENT
FIGURE 8 MARKET SNAPSHOT, BY SERVICE
FIGURE 9 MARKET SNAPSHOT, BY NLP TYPE
FIGURE 10 MARKET SNAPSHOT, BY APPLICATION
FIGURE 11 MARKET SNAPSHOT, BY DEPLOYMENT MODE
FIGURE 12 MARKET SNAPSHOT, BY ORGANIZATION SIZE
FIGURE 13 MARKET SNAPSHOT, BY END USER
FIGURE 14 MARKET SNAPSHOT, BY REGION
FIGURE 15 ABILITY TO ANALYZE AND EXTRACT MEANING FROM NARRATIVE TEXTS AND NON-RELATED DATA SOURCES, AND DEMAND FOR IMPROVING EHR DATA USABILITY TO BETTER PATIENT CARE DRIVING THE OVERALL GROWTH OF NLP IN HEALTHCARE AND LIFE SCIENCES MARKET
FIGURE 16 PATTERN AND IMAGE RECOGNITION SEGMENT TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
FIGURE 17 NORTH AMERICA TO HOLD THE HIGHEST MARKET SHARE IN 2020
FIGURE 18 STANDALONE SOLUTIONS SEGMENT, AND TEXT AND SPEECH ANALYTICS SEGMENT TO ACCOUNT FOR THE HIGHEST SHARES IN THE NLP IN HEALTHCARE AND LIFE SCIENCES MARKET IN 2020
FIGURE 19 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
FIGURE 20 FUNCTIONAL ELEMENTS OF NLP IN HEALTHCARE AND LIFE SCIENCES SOLUTIONS
FIGURE 21 SERVICES SEGMENT TO REGISTER A HIGHER CAGR DURING THE FORECAST PERIOD
FIGURE 22 PROFESSIONAL SERVICES SEGMENT TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD
FIGURE 23 HYBRID NLP SEGMENT TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
FIGURE 24 CLOUD SEGMENT TO REGISTER A HIGHER CAGR DURING THE FORECAST PERIOD
FIGURE 25 SMALL AND MEDIUM-SIZED ENTERPRISES SEGMENT TO REGISTER A HIGHER CAGR DURING THE FORECAST PERIOD
FIGURE 26 PATTERN AND IMAGE RECOGNITION SEGMENT TO REGISTER THE HIGHEST CAGR DURING THE FORECAST PERIOD
FIGURE 27 NLP FOR RESEARCHERS SEGMENT TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD
FIGURE 28 BASED ON COUNTRY, JAPAN TO HOLD THE HIGHEST CAGR DURING THE FORECAST PERIOD
FIGURE 29 BASED ON REGION, ASIA PACIFIC TO HOLD THE HIGHEST CAGR DURING THE FORECAST PERIOD
FIGURE 30 NORTH AMERICA: MARKET SNAPSHOT
FIGURE 31 PATTERN AND IMAGE RECOGNITION SEGMENT TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD IN NORTH AMERICA
FIGURE 32 PATTERN AND IMAGE RECOGNITION SEGMENT TO HOLD THE HIGHEST CAGR DURING THE FORECAST PERIOD IN EUROPE
FIGURE 33 ASIA PACIFIC: MARKET SNAPSHOT
FIGURE 34 PATTERN AND IMAGE RECOGNITION SEGMENT TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD IN ASIA PACIFIC
FIGURE 35 PATTERN AND IMAGE RECOGNITION SEGMENT TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD IN MIDDLE EAST AND AFRICA
FIGURE 36 PATTERN AND IMAGE RECOGNITION SEGMENT TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD IN LATIN AMERICA
FIGURE 37 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET (GLOBAL), COMPETITIVE LEADERSHIP MAPPING, 2020
FIGURE 38 3M: COMPANY SNAPSHOT
FIGURE 39 3M: SWOT ANALYSIS
FIGURE 40 MICROSOFT: COMPANY SNAPSHOT
FIGURE 41 MICROSOFT: SWOT ANALYSIS
FIGURE 42 CERNER: COMPANY SNAPSHOT
FIGURE 43 NUANCE: COMPANY SNAPSHOT
FIGURE 44 NUANCE: SWOT ANALYSIS
FIGURE 45 IBM: COMPANY SNAPSHOT
FIGURE 46 IBM: SWOT ANALYSIS
FIGURE 47 GOOGLE: COMPANY SNAPSHOT
FIGURE 48 GOOGLE: SWOT ANALYSIS
FIGURE 49 AWS: COMPANY SNAPSHOT
FIGURE 50 AWS: SWOT ANALYSIS
FIGURE 51 INOVALON: COMPANY SNAPSHOT

The study involved four major activities in estimating the current market size of the Natural Language Processing (NLP) in healthcare and life sciences market. An extensive secondary research was done to collect information on the market, peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were used to estimate the total market size. After that, the market breakup and data triangulation procedures were used to estimate the market size of the segments and subsegments of the NLP in healthcare and life sciences market.

Secondary Research

In the secondary research process, various secondary sources, Institute of Electrical and Electronics Engineers (IEEE) journals, such as the Medical prescription classification: a NLP-based approach, and A review of the application of natural language processing in clinical medicine, have been referred to, for identifying and collecting information for this study. Secondary sources included annual reports; press releases and investor presentations of companies; whitepapers, certified publications, and articles by recognized authors; Research and Development (R&D) organizations; regulatory bodies; and databases. Journals, repositories, and resources from the International Journal of Medical Informatics, were referred to understand the integration of NLP in the healthcare vertical.

Primary Research

Various primary sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information of the market. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), directors, from business development, marketing, product development/innovation teams, and related key executives from NLP solution vendors in healthcare and life sciences, system integrators, professional service providers, industry associations, and analytics consultants and key opinion leaders. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

The following is the breakup of primary profiles:

Natural Language Processing (NLP) in Healthcare and Life Sciences Market

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

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the NLP in healthcare and life sciences market. The top-down approach was used to derive the revenue contribution of top vendors and their offerings in the market. The bottom-up approach was used to arrive at the overall market size of the global market using key companies’ revenue and their offerings in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the market were identified through extensive secondary research.
  • The market size, in terms of value, was determined through primary and secondary research processes.
  • All percentage, shares split, and breakups were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakup procedures were employed, wherever applicable. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segmentation.

Report Objectives

  • To define, segment, and project the global market size for NLP in healthcare and life sciences market
  • To understand the structure of the market by identifying its various subsegments
  • To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To analyze the micromarkets concerning individual growth trends, prospects, and their contribution to the overall market
  • To analyze the market by component, NLP type, application, deployment mode, organization size, end user, and region
  • To project the size of the regional market and its submarkets, in terms of value, for North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
  • To profile key players and comprehensively analyze their core competencies
  • To understand the competitive landscape and identify significant growth strategies adopted by players across key regions
  • To analyze competitive developments, such as expansions and fundings, new product launches, mergers and acquisitions, strategic partnerships, and agreements, in the market

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 provides a detailed comparison of the product portfolio of each company

Geographic analysis

  • Further breakup of the North American NLP in healthcare and life sciences market
  • Further breakup of the European market
  • Further breakup of the APAC market
  • Further breakup of the Latin American market
  • Further breakup of the MEA market

Company information

  • Detailed analysis and profiling of additional market players up to five
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Report Code
TC 3660
Published ON
Apr, 2020
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