NLP in Healthcare and Life Sciences Market Size worth $8.18 Billion By 2030 | CAGR: 19.3%

The global NLP in healthcare and life sciences market size is expected to reach USD 8.18 billion by 2030, according to a new study by Polaris Market Research. The report “NLP in Healthcare and Life Sciences Market Share, Size, Trends, Industry Analysis Report, By Component (Solution, Services); By NLP Type; By End-Use (Physician, Patients, Researchers, Clinical Operators); By Application; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The key factors responsible for the natural language processing in healthcare and life sciences market growth include the rising adoption of natural language processing for smart medical care. Natural language processing is a branch of computer science and artificial intelligence dealing with the automatic analysis, representation, and comprehension of human speech. Natural language processing has become a popular study subject in recent years, attracting extensive interest from various research communities.

NLP enables robots to understand human language and interact with humans, which is critical in smart medicare because human language is a general type of data entry for intelligent systems. Thus, the language propels the smart medical care system by advancing solutions and boosting the natural language processing in healthcare and life sciences market growth.

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Based on the application, the IVR segment accounted for the leading share in the market in 2021. IVR is a useful telehealth tool increasing access to medical care in the remotest places. Application is curated with customized programs with easy access to patients throughout the day, resulting in better healthcare and life sciences outcomes.

Natural language processing in healthcare and life sciences market players such as 3M Company, Alphabet Inc., Amazon.com, Inc., Averbis GmbH, Cerner Corporation, Clinithink, Conversica Inc., Dolbey Systems, Inc., Health Fidelity, Inc., Hewlett Packard Enterprise Development LP, IBM Corporation, Inovalon, IQVIA Holdings Inc., Lexalytics, Microsoft Corporation, SparkCognition, and Wave Health Technologies are some key players operating in the global market.

In March 2021, Lookout for Metrics was a new machine learning service from Amazon Web Services (AWS) that enables SMEs and large organizations to track the essential business parameters, including transaction volume, revenue, and web page visits, with improved speed and accuracy.

Polaris Market Research has segmented the NLP in Healthcare and Life Sciences market report based on component, NLP type, application, end-use, and region:

NLP in Healthcare and Life Sciences, Component Outlook (Revenue - USD Billion, 2018 - 2030)

• Solution
  • Clinical Variation Management
  • Population Health Management
  • Counter Fraud Management
  • Other Solutions
• Services
  • Professional Services
  • Managed Services

NLP in Healthcare and Life Sciences, NLP Type Outlook (Revenue - USD Billion, 2018 - 2030)

• Rule-based
• Statistical
• Hybrid

NLP in Healthcare and Life Sciences, Application Outlook (Revenue - USD Billion, 2018 - 2030)

• IVR
• Pattern and Image Recognition
• Summarization and Categorization
• Text and Speech Analytics
• Predictive Risk Analytics
• Reporting and Visualization,
• Other Applications

NLP in Healthcare and Life Sciences, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)

• Physician
• Patients
• Researchers
• Clinical Operators

NLP in Healthcare and Life Sciences, Regional Outlook (Revenue - USD Billion, 2018 - 2030)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Austria
  • Netherlands
• Asia Pacific
  • China
  • Japan
  • India
  • Indonesia
  • Malaysia
  • South Korea
• Latin America
  • Brazil
  • Argentina
  • Mexico
• Middle East & Africa
  • Israel
  • Saudi Arabia
  • South Africa
  • UAE