Quick Summary:
In the ever-evolving healthcare industry, staying at the forefront of innovation is integral to success. The global Healthcare Cognitive Computing market offers this necessary innovative edge, with cognitive computing systems providing a self-learning mechanism akin to human thought processes. These systems leverage data mining techniques, pattern recognition, and natural language processing, offering healthcare professionals the ability to respond in real-time to critical issues and harness the power of vast amounts of data.
With a growing prevalence of chronic illnesses worldwide, demand for rapid, accurate, and personalized treatment plans is on the rise. Herein lies the strength of healthcare cognitive computing. Advancements in the healthcare sector, the increasing demand for gene-specific treatments, the use of third computing platforms, and a rising trend towards personalized oncology treatments are key market drivers. Furthermore, applications of cognitive computing in healthcare extend into areas such as custom medicine, melanoma screening, and electronic health record (EHR) analysis, thus further expanding its relevance and potential for wide-spread implementation.
The global healthcare cognitive computing market size reached US$ 4.3 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 13.2 Billion by 2028, exhibiting a growth rate (CAGR) of 19% during 2023-2028.
Cognitive computing is a self-learning system that relies on data mining techniques, pattern recognition, natural languages, human sense processing, and system refinements to simulate the human thought process. It processes enormous amounts of data to answer specific queries, gives customized intelligent recommendations and supports decision making. It analyzes emerging patterns, spots business opportunities and handles critical process-centric issues in real-time. It also enhances customer interactions by providing relevant, contextual and valuable information. At present, cognitive computing is extensively utilized in the healthcare sector to treat patients using past data and recognize any health-related issues.
2. What is the expected growth rate of the global healthcare cognitive computing market during 2023-2028?
3. What has been the impact of COVID-19 on the global healthcare cognitive computing market?
4. What are the key factors driving the global healthcare cognitive computing market?
5. What is the breakup of the global healthcare cognitive computing market based on the technology?
6. What is the breakup of the global healthcare cognitive computing market based on the deployment mode?
7. What is the breakup of the global healthcare cognitive computing market based on end use?
8. What are the key regions in the global healthcare cognitive computing market?
9. Who are the key players/companies in the global healthcare cognitive computing market?
Cognitive computing is a self-learning system that relies on data mining techniques, pattern recognition, natural languages, human sense processing, and system refinements to simulate the human thought process. It processes enormous amounts of data to answer specific queries, gives customized intelligent recommendations and supports decision making. It analyzes emerging patterns, spots business opportunities and handles critical process-centric issues in real-time. It also enhances customer interactions by providing relevant, contextual and valuable information. At present, cognitive computing is extensively utilized in the healthcare sector to treat patients using past data and recognize any health-related issues.
Healthcare Cognitive Computing Market Trends:
The growing prevalence of chronic diseases across the globe represents one of the key factors driving the market. Moreover, there is a rise in the demand for gene-specific treatment to eliminate cancer cells without damaging healthy tissues. This, along with advancements in the healthcare industry around the world, is propelling the growth of the market. In addition, there is an increase in the use of third computing platforms to facilitate better patient care. This, coupled with the escalating demand for personalized treatments in oncology, is offering lucrative growth opportunities to industry investors. Besides this, healthcare cognitive computing finds application in customized medicine, melanoma screening, and electronic health record (EHR) data analysis. Additionally, the increasing cost of drug discovery and clinical trials worldwide are catalyzing the demand for healthcare cognitive computing. Apart from this, governing authorities of several countries are undertaking initiatives to promote the usage of e-health technologies, which is positively influencing the market. Furthermore, key market players are focusing on mergers and acquisitions (M&A), which is projected to bolster their overall profitability.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global healthcare cognitive computing market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on technology, deployment mode and end use.Breakup by Technology:
- Natural Language Proceissing
- 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
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.Key Questions Answered in This Report
1. What was the size of the global healthcare cognitive computing market in 2022?2. What is the expected growth rate of the global healthcare cognitive computing market during 2023-2028?
3. What has been the impact of COVID-19 on the global healthcare cognitive computing market?
4. What are the key factors driving the global healthcare cognitive computing market?
5. What is the breakup of the global healthcare cognitive computing market based on the technology?
6. What is the breakup of the global healthcare cognitive computing market based on the deployment mode?
7. What is the breakup of the global healthcare cognitive computing market based on end use?
8. What are the key regions in the global healthcare cognitive computing market?
9. Who are the key players/companies in the global healthcare cognitive computing market?
Frequently Asked Questions about the Global Healthcare Cognitive Computing Market
What is the estimated value of the Global Healthcare Cognitive Computing Market?
What is the growth rate of the Global Healthcare Cognitive Computing Market?
What is the forecasted size of the Global Healthcare Cognitive Computing Market?
Who are the key companies in the Global Healthcare Cognitive Computing Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 141 |
| Published | June 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 4.3 Billion |
| Forecasted Market Value ( USD | $ 13.2 Billion |
| Compound Annual Growth Rate | 20.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Healthcare Cognitive Computing Market
6 Market Breakup by Technology
7 Market Breakup by Deployment Mode
8 Market Breakup by End Use
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Apixio (Centene Corporation)
- Apple Inc.
- CognitiveScale
- Enterra Solutions LLC
- Google LLC (Alphabet Inc.)
- Healthcare X.0 GmbH
- Intel Corporation
- International Business Machines Corporation
- MedWhat
- Microsoft Corporation.
Methodology
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