FEATURED COMPANIES
- Apple Inc.
- CognitiveScale
- Enterra Solutions LLC
- Healthcare X.0 GmbH
- Intel Corporation
- MedWhat
The global healthcare cognitive computing market reached a value of US$ 3.60 billion in 2021. Looking forward, the market is projected to reach a value of US$ 11.04 billion by 2027, exhibiting a CAGR of 19.20% during 2022-2027. Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
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.
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.
This report provides an analysis of the key trends in each sub-segment of the global healthcare cognitive computing market, along with forecasts at the global, regional and country level from 2022-2027. The report has categorized the market based on technology, deployment mode and End-use.
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.
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
This report provides an analysis of the key trends in each sub-segment of the global healthcare cognitive computing market, along with forecasts at the global, regional and country level from 2022-2027. The report has categorized the market based on technology, deployment mode and End-use.
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
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
- How has the global healthcare cognitive computing market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global healthcare cognitive computing market?
- What are the key regional markets?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the deployment mode?
- What is the breakup of the market based on the End-use?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global healthcare cognitive computing market and who are the key players?
- What is the degree of competition in the industry?
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?
Note: Product cover images may vary from those shown
FEATURED COMPANIES
- Apple Inc.
- CognitiveScale
- Enterra Solutions LLC
- Healthcare X.0 GmbH
- Intel Corporation
- MedWhat
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
Note: Product cover images may vary from those shown
- 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
Note: Product cover images may vary from those shown
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