Segmentation By NLP Type (Statistical Based, Rule Based and Hybrid); By Component (Technology and Services); By Deployment (Cloud and Premises) and By Application (Information Extraction, Predictive Risk Analytics, Machine Translation and Others) - Global Industry Demand Analysis and Opportunity Assessment 2018-2027
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Table of Contents
1. Report Overview
1.1. Global NLP in Healthcare & Life Sciences Market Overview
1.2. Why You Should Read This Report
1.3. How This Report Delivers
1.4. Key Questions Answered by This Analytical Report Include:
1.5. Who is This Report For?
1.6. Methodology
1.6.1. Primary Research
1.6.2. Secondary Research
1.6.3. Market Evaluation & Forecasting Methodology
2. Introduction to the NLP in Healthcare & Life Sciences Market
2.1. NLP in Healthcare & Life Sciences Market Structure
2.2. NLP in Healthcare & Life Sciences Market Definition
2.3. Global NLP in Healthcare & Life Sciences Market Taxonomy
2.4. Global NLP in Healthcare & Life Sciences Market Snapshot
2.5. Global NLP in Healthcare & Life Sciences Market Dynamics
2.5.1. Global NLP in Healthcare & Life Sciences Market: Driver
Increasing Applications of Connected Device
Growing Trend of Digitalization
High Potential Application of NLP in Healthcare
2.5.2. Global NLP in Healthcare & Life Sciences Market: Restraints
Issues Related to NLP Implementation
Increasing Cybercrime
2.5.1. Global NLP in Healthcare & Life Sciences Market: Trends
Use of Artificial Intelligence in NLP
2.5.1. Global NLP in Healthcare & Life Sciences Market: Opportunities
Implementation of Machine Translation and Information Extraction Technology
3. Global NLP in Healthcare & Life Sciences Market, By Deployment, 2019-2027
3.1. Introduction
3.2. Global NLP in Healthcare & Life Sciences Market Size and Forecast, By Deployment
3.2.1. Cloud Segment
3.2.2. Premises Segment
4. Global NLP in Healthcare & Life Sciences Market, By Component, 2019-2027
4.1. Introduction
4.2. Global NLP in Healthcare & Life Sciences Market Size and Forecast, By Component
4.2.1. Technology Segment
4.2.2. Services Segment
5. Global NLP in Healthcare & Life Sciences Market, By Type, 2019-2027
5.1. Introduction
5.2. Global NLP in Healthcare & Life Sciences Market Size and Forecast, By Type
5.2.1. Statistical Based NLP Segment
5.2.2. Rule Based NLP Segment
5.2.3. Hybrid NLP Segment
6. Global NLP in Healthcare & Life Sciences Market, By Application, 2019-2027
6.1. Introduction
6.2. Global NLP in Healthcare & Life Sciences Market Size and Forecast, By Application
6.2.1. Information Extraction Segment
6.2.2. Predictive Risk Analytics Segment
6.2.3. Machine Translation Segment
6.2.4. Report Generation Segment
6.2.5. Others Segment
7. Global NLP in Healthcare & Life Sciences Market, By Region, 2019-2027
7.1. Introduction
7.2. Global NLP in Healthcare & Life Sciences Market Size and Forecast, By Region
7.2.1. North America
7.2.2. Latin America
7.2.3. Europe
7.2.4. Asia Pacific
7.2.5. Middle East and Africa
8. North America NLP in Healthcare & Life Sciences Market Analysis and Forecast, 2019-2027
8.1. Introduction
8.1.1. North America
8.2. North America NLP in Healthcare & Life Sciences Market Forecast, By Country, 2019-2027
8.3. North America NLP in Healthcare & Life Sciences Market Forecast, By Deployment, 2019-2027
8.4. North America NLP in Healthcare & Life Sciences Market Forecast, By Component, 2019-2027
8.5. North America NLP in Healthcare & Life Sciences Market Forecast, By Type, 2019-2027
8.6. North America NLP in Healthcare & Life Sciences Market Forecast, By Application, 2019-2027
9. Latin America NLP in Healthcare & Life Sciences Market Analysis and Forecast, 2019-2027
9.1. Introduction
9.1.1. Latin America
9.2. Latin America NLP in Healthcare & Life Sciences Market Forecast, By Country, 2019-2027
9.1. Latin America NLP in Healthcare & Life Sciences Market Forecast, By Deployment, 2019-2027
9.2. Latin America NLP in Healthcare & Life Sciences Market Forecast, By Component, 2019-2027
9.3. Latin America NLP in Healthcare & Life Sciences Market Forecast, By Type, 2019-2027
9.4. Latin America NLP in Healthcare & Life Sciences Market Forecast, By Application, 2019-2027
10. Europe NLP in Healthcare & Life Sciences Market Analysis and Forecast, 2019-2027
10.1. Introduction
10.1.1. Europe
10.2. Europe NLP in Healthcare & Life Sciences Market Forecast, By Country, 2019-2027
10.3. Europe NLP in Healthcare & Life Sciences Market Forecast, By Deployment, 2019-2027
10.4. Europe NLP in Healthcare & Life Sciences Market Forecast, By Component, 2019-2027
10.5. Europe NLP in Healthcare & Life Sciences Market Forecast, By Type, 2019-2027
10.6. Europe NLP in Healthcare & Life Sciences Market Forecast, By Application, 2019-2027
11. Asia Pacific NLP in Healthcare & Life Sciences Market Analysis and Forecast, 2019-2027
11.1. Introduction
11.1.1. Asia Pacific
11.2. Asia Pacific NLP in Healthcare & Life Sciences Market Forecast, By Country, 2019-2027
11.3. Asia Pacific NLP in Healthcare & Life Sciences Market Forecast, By Deployment, 2019-2027
11.4. Asia Pacific NLP in Healthcare & Life Sciences Market Forecast, By Component, 2019-2027
11.5. Asia Pacific NLP in Healthcare & Life Sciences Market Forecast, By Type, 2019-2027
11.6. Asia Pacific NLP in Healthcare & Life Sciences Market Forecast, By Application, 2019-2027
12. Middle East & Africa NLP in Healthcare & Life Sciences Market Analysis and Forecast, 2019-2027
12.1. Introduction
12.1.1. MEA
12.2. MEA NLP in Healthcare & Life Sciences Market Forecast, By Country, 2019-2027
12.3. MEA NLP in Healthcare & Life Sciences Market Forecast, By Deployment, 2019-2027
12.4. MEA NLP in Healthcare & Life Sciences Market Forecast, By Component, 2019-2027
12.5. MEA NLP in Healthcare & Life Sciences Market Forecast, By Type, 2019-2027
12.6. MEA NLP in Healthcare & Life Sciences Market Forecast, By Application, 2019-2027
13. Company Profile
13.1. 3M
13.1.1. Overview
13.1.2. Product Type/Service Offerings
13.1.3. SWOT Analysis
13.2. IBM CORPORATION
13.2.1. Overview
13.2.2. Product Type/Service Offerings
13.2.3. Key Developments
13.2.4. SWOT Analysis
13.3. LINGUAMATICS
13.3.1. Overview
13.3.2. Product Type/Service Offerings
13.3.3. Key Developments
13.3.4. SWOT Analysis
13.4. HEATH FIDELITY
13.4.1. Overview
13.4.2. Product Type/Service Offerings
13.4.3. Key Developments
13.4.4. SWOT Analysis
13.5. CERNER CORPORATION
13.5.1. Overview
13.5.2. Product Type/Service Offerings
13.5.3. Key Developments
13.5.4. SWOT Analysis
13.6. DOLBEY SYSTEMS, INC
13.6.1. Overview
13.6.2. Product Type/Service Offerings
13.6.3. Key Developments
13.6.4. SWOT Analysis
13.7. APIXIO INC
13.7.1. Overview
13.7.2. Product Type/Service Offerings
13.7.3. Key Developments
13.7.4. SWOT Analysis
13.8. MICROSOFT CORPORATION
13.8.1. Overview
13.8.2. Product Type/Service Offerings
13.8.3. Key Developments
13.8.4. SWOT Analysis
14. Acronyms
By NLP Type
The global NLP in healthcare and life sciences market has been segmented on the basis of NLP type into statistical based NLP, rule based NLP and hybrid NLP. The statistical based NLP segment with around 44% share in the year 2018, occupies the largest market of NLP in healthcare and life sciences across the globe. Additionally, the statistical based NLP segment is further anticipated to cross a value of around USD 13500 million by the end of 2027 by registering a CAGR of around 27% over the forecast period. Further, the rule based NLP segment is estimated to grow with a CAGR of around 23% over the forecast period.
The global NLP in healthcare and life sciences market is segmented by regions into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa. Among these regions, the market of North America NLP in healthcare and life sciences is driven by U.S. and Canada, where U.S. held the dominant market share of around 79% in the year 2018. Backed by the increasing support of the government of U.S. to develop the healthcare infrastructure in the nation in the form of massive funding for R&D activities and adoption of advanced healthcare technologies, the market of NLP in healthcare and life sciences in U.S. is anticipated to grow significantly over the coming years. Additionally, the NLP in healthcare and life sciences market in North America held the market share of around 34% in the year 2018 is expected to expand by observing the growth rate of around 6.3x throughout the assessment period and further cross a value of around USD 8300 million by the end of 2027.
Further, China, Japan, India, south Korea and Australia are some of the prominent countries that are driving the growth of the Asia Pacific NLP in healthcare and life sciences market, where China accounted for the largest market share of around 24% in the year 2018. The market in the nation is further anticipated to grow with a CAGR of around 31% over the forecast period and cross a value of around USD 3400 million by the end of 2027.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Growth Indicators
With advancement in healthcare technology and development of several connected devices, for instance wearable devices, mobile phones and other medical devices, the utilization of these connected devices over the years has observed a multiplied growth in the healthcare industry. As these devices are provided with the ability to collect critical health data of an individual, NLP acts as a connecting medium to convert these raw data to effective data for the healthcare specialists. The increasing trend of utilization of connected devices for healthcare systems, coupled with factors such as the rising trend of digitalization and the growing IT infrastructure around the world that provides data driven solutions to the healthcare industry and the potentiality of NLP in the healthcare sector owing to the numerous benefits associated with the technology are some of the factors anticipated to drive the growth of the global NLP in healthcare and life sciences market.
Barriers
Lack of proper infrastructure in several low and middle-income nations who doesn’t have a proper and updated healthcare infrastructure, along with increasing cases of cybercrime observed in the recent years are some of the factors anticipated to impact negatively towards the growth of the global NLP in healthcare and life sciences market.
Some of the affluent industry leaders in the global NLP in healthcare and life sciences market are IBM, Linguamatics, 3M, Health Fidelity, Inc., Cerner Corporation, Dolbey,Apixio and Microsoft Corporation.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Rising trend of the utilization of connected devices in the healthcare industry, growing IT infrastructure and digitalization are some of the major factors that are driving the growth of the market.
Ans: The market is anticipated to attain a CAGR of around 24% over the forecast period, i.e. 2019-2027.
Ans: The market in Asia Pacific is anticipated to provide more business opportunities in the future.
Ans: The major players in the global NLP in healthcare and life sciences market are IBM, Linguamatics, 3M, Health Fidelity, Inc., Cerner Corporation, Dolbey, Apixio and Microsoft Corporation.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The statistical based NLP segment, which is a sub-segment of the NLP type segment, held the largest market share of around 44% in the year 2018 is anticipated to show significant growth opportunity.
Ans: Growing concerns for the unavailability of proper infrastructure and the increasing incidences of cybercrime are the factors anticipated to act as a barrier towards the growth of the global NLP in healthcare and life sciences market.
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