What is Healthcare Natural Language Processing Market Scope?
Natural language processing, also known as NLP, is a human-computer interface that analyses, processes, and outputs computational linguistics based on human language. NLP technology enables humans to communicate with computers in meaningful ways using natural languages such as German or English rather than artificial computer languages such as C++ or Java. The use of NLP technology in the worldwide healthcare industry is on the rise right now. Several public and commercial healthcare service providers, including clinics and well-known hospitals, are using natural language processing (NLP) technology in clinical applications to increase patient involvement and overall decision making. The significant increase in the volume of disorganized clinical information is driving the healthcare natural language processing industry. The growing use of EHR (electronic health records) systems in the worldwide healthcare business are resulting in the development of massive amounts of clinical data, which includes patient information, diagnosis procedures, and other pertinent information such as medication details. Furthermore, the integration of NLP technology with computer apps assists these healthcare service providers in improving patient and family interaction.
The Healthcare Natural Language Processing market study is being classified by Type (Machine Translation, Information Extraction, Automatic Summarization and Text and Voice Processing), by Application (Interactive Voice Response (IVR), Pattern and Image Recognition, Auto Coding, Classification and Categorization, Text and Speech Analytics and Others) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analysts at AMA predicts that Players from United States will contribute to the maximum growth of Global Healthcare Natural Language Processing market throughout the predicted period.
3M (United States), Cerner (United States), Nuance (United States), Health Fidelity (United States), Dolbey (United States), Microsoft (United States), IBM (United States), Google (United States), AWS (United States), Apixio (United States), Averbis (Germany) and Linguamatics (United Kingdom) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Healthcare Natural Language Processing market by Type, Application and Region.
On the basis of geography, the market of Healthcare Natural Language Processing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
November 2020 – Google Launches Healthcare Natural Language API and AutoML Entity Extraction for Healthcare
Influencing Market Trend
- Ability to Analyze and Extract Meaning from Narrative Text and non-Related Data Sources
Market Drivers
- Rising Urge of Predictive Analytics to Reduce Risk and Improve Significant Health Concerns
- Growing Demand for IMPROVING EHR Data Usability to Better Patient Care
Opportunities
- Ensemble of NLP Systems to Boost Phenotyping Capabilities
- Rising Demand for NLP Systems Programmed to Understand the Context of Medical Records
Restraints
- Specific Medical Sub-Languages and Poor Input Data Quality
Challenges
- Data Security and Privacy Concerns
Key Target Audience
Software Providers, Healthcare Industry, Network Providers and Others
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