The Business Research Company’s report on the Healthcare Cognitive Computing Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the healthcare cognitive computing market in recent years?
The growing prevalence of chronic diseases is expected to boost the healthcare cognitive computing market going forward. Chronic diseases, sometimes called non-communicable diseases (NCDs), are conditions that last for an extended period and are caused by a mix of genetic, physiological, environmental, and behavioral factors. Researchers can learn new things about the connections between genes, proteins, pathways, phenotypes, and diseases with the help of cognitive computing. Cognitive computing can generate concise summaries that highlight the most important aspects of a patient’s situation for both patients and healthcare providers, hence it will boost the healthcare cognitive computing market. For instance, according to the report published by World Health Organization (WHO), a Switzerland-based inter-governmental organization, responsible for providing leadership on global health matters, in 2022, chronic diseases or non-communicable diseases (NCDs) account for 74% of all deaths worldwide, killing 41 million people every year. Therefore, growing prevalence of chronic diseases is driving the growth of the healthcare cognitive computing market.
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What is the projected market size of the healthcare cognitive computing industry, and how is it expected to grow?
The healthcare cognitive computing market size has grown exponentially in recent years. It will grow from $7.32 billion in 2024 to $8.99 billion in 2025 at a compound annual growth rate (CAGR) of 22.8%. The growth in the historic period can be attributed to growing volume of healthcare data, enhanced image and pattern recognition, push for value-based healthcare, integration with electronic health records, focus on population health management, drug discovery and development.
The healthcare cognitive computing market size is expected to see exponential growth in the next few years. It will grow to $22.34 billion in 2029 at a compound annual growth rate (CAGR) of 25.6%. The growth in the forecast period can be attributed to expansion of genomic medicine, integration with wearable devices, focus on mental health solutions, utilization in precision oncology, enhanced cybersecurity measures, growth of virtual health assistants. Major trends in the forecast period include advancements in artificial intelligence (ai), automation of administrative tasks, virtual health assistants, collaborations and partnerships, genomic medicine integration, .
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Who are the key players driving competition in the healthcare cognitive computing market?
Major companies operating in the healthcare cognitive computing market are Apixio Inc., CognitiveScale, Healthcare X.0 GmbH, MedWhat Technology, Palantir Technologies Inc., Apple Inc., Google LLC, Intel Corporation, Microsoft Corporation, International Business Machines Corporation, Enterra Solutions, Saffron Technology Inc., DeepMind Technologies Limited, SparkCognition Inc., TIBCO Software Inc., Wipro Limited, Marlabs LLC, SAP SE, Numenta Inc., Nuance Communications Incorporated, Ayasdi Inc., Health Fidelity Inc., Linguamatics Inc., Suki Inc., Verint Systems Inc., Welltok Inc., Zephyr Health Inc., Zebra Medical Vision Ltd.
What key trends are expected to drive the hazmat suits market during the forecast period?
Technological advancement has emerged as the key trend gaining popularity in the healthcare cognitive computing market. Major companies operating in the market are developing advanced technologies to strengthen their position in the market. For instance, in 2022, Apixio Inc., a US-based company operating in healthcare cognitive computing, launched Apicare ChartSpace, an artificial-driven health data management solution to provide real-time data access with improved security of data. This provides a centralized location across programs for chart data management, which allows healthcare organizations to search, filter, view, and download charts directly anytime, and provides chart-level insights on diagnosis codes and ad-hoc analytics. Apicare ChartSpace also enables users to securely store and share charts of different formats (PDFs, images, HTML, CCDA, and FHIR) that have been retrieved from various EHRs and other data sources in a centralized location.
Which key geographies are driving the growth of the healthcare cognitive computing market?
North America was the largest region in the healthcare cognitive computing market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare cognitive computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What are the key segments driving growth in the healthcare cognitive computing market?
The healthcare cognitive computing market covered in this report is segmented –
1) By Technology: Natural Language Processing, Machine Learning, Automated Reasoning, Other Technology
2) By Deployment Mode: On-premises, Cloud-Based
3) By End Use: Hospitals, Pharmaceuticals, Medical Devices, Insurance, Other End uses
Subsegments:
1) By Natural Language Processing (NLP): Text Analytics, Speech Recognition, Sentiment Analysis
2) By Machine Learning: Supervised Learning, Unsupervised Learning, Reinforcement Learning
3) By Automated Reasoning: Rule-Based Systems, Logic Programming, Decision Support Systems
4) By Other Technology: Image Recognition, Robotics And Automation, Predictive Analytics
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How is the healthcare cognitive computing market defined, and what are its core characteristics?
Healthcare cognitive computing is the use of logic, language processing, machine learning, and human capabilities to solve problems and analyze data. This is used in the healthcare industry to cope with massive amounts of unstructured healthcare data, such as patient histories, diagnoses, ailments, and journal research papers.
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