The Asia Pacific NLP in Healthcare and Life Sciences Market would witness market growth of 21.4% CAGR during the forecast period (2022-2028).
Natural language processing (NLP) is an area of artificial intelligence that analyzes human-computer collaboration to assist machines to understand both written and spoken language. Its ultimate goal is to read, interpret, grasp, and make sense of human languages in a useful way. NLP is a technique for extracting data from a vast volume of clinical data and enhancing it for better preparation and assessment.
Natural language processing (NLP) is a technique that analyzes human-computer collaboration to assist machines also understand written human language. NLP is frequently utilized in the healthcare industry because it can extract data from enormous amounts of clinical data and refine it for better physician preparation and assessment. Factors such as the rising trend of artificial intelligence in natural language processing in the healthcare industry, as well as the growing trend of using NLP in machine translation and information extraction procedures, are expected to boost the NLP in the healthcare and life sciences market significantly. Furthermore, the rising trend of connected device usage in the healthcare industry, as well as the developing IT infrastructure across nations around the world and the rising trend of digitalization, are expected to propel NLP in the healthcare and life sciences market forward.
Due to expanding awareness of AI and increasing investments in AI across the healthcare and life sciences vertical, this region would witness a significant growth in the market. Healthcare firms across the region are rapidly implementing cloud-based NLP technologies. Cloud-based NLP techniques are becoming more popular as a result of benefits such as efficiency, cost-effectiveness, user-friendliness, and expedited access. To maintain market competitiveness and revenue development, companies in APAC continue to focus on improving healthcare services. Japan, China, and South Korea have shown that the NLP market in healthcare and life sciences has a lot of room for expansion. Due to the implementation of modern technologies such as natural language processing (NLP) in healthcare and life sciences for improving business operations in the region, Asia-Pacific is predicted to have a profitable expansion.
The China market dominated the Asia Pacific NLP in Healthcare and Life Sciences Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $549.6 million by 2028. The Japan market is poised to grow at a CAGR of 20.7% during (2022 - 2028). Additionally, The India market would exhibit a CAGR of 22.2% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Solution Type, the market is segmented into Clinical Variation Management, Population Health Management, Counter Fraud Management, and Others. Based on End User, the market is segmented into NLP for Physician, NLP for Patients, NLP for Researchers, and NLP for Clinical Operators. Based on NLP Type, the market is segmented into Rule-based, Statistical, and Hybrid. Based on Deployment Mode, the market is segmented into Cloud and On-premise. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). Based on Application, the market is segmented into IVR, Summarization & Categorization, Reporting & Visualization, Pattern & Image Recognition, Text & Speech Analytics, Predictive Risk Analytics, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide NLP in Healthcare and Life Sciences Market is Projected to reach USD 6.8 Billion by 2028, at a CAGR of 20.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 3M Company, IBM Corporation, Microsoft Corporation, Google LLC, Amazon Web Services, Inc., Cerner Corporation, Corti ApS, Lexalytics, Inc., Health Fidelity, Inc., and Linguamatics.
By Component
By End User
By NLP Type
By Deployment Mode
By Organization Size
By Application
By Country
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