About Healthcare Cognitive Computing
Cognitive computing in healthcare links the functioning of humans and machines. It helps in human decision-making. It helps in pattern recognition, data mining, and natural language processing, to resemble the way the human brain works and thinks. The more data is been fed over there, the better understanding it will make for a decision. Healthcare cognitive computing refers self-learning framework that possesses the human senses and system refinements dependent on real-time securing of patient information and other data. The use of this technology is advantageous as it provides faster data research, it helps in the improvement of daily process, support healthier behaviours of the patient.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global healthcare cognitive computing market is fragmented owing to the presence of several small and large dealers who compete in terms of price, quality, reputation, and innovation. To sustain themselves in such a competitive market environment, it is important for the market players to discriminate their product offerings through a unique and clear value proposition. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Healthcare Cognitive Computing market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IBM (United States), Google (United States), Microsoft (United States), Apixio (United States), Healthcare X.0 (Germany), Enterra Solutions (United States), Nuance Communications, Inc (United States), Intel Corporation (United States), MEDWHAT (United States), Palantir (United States) and PTC (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Healthcare Cognitive Computing market by Type (Natural Language Processing, Machine Learning, Automated Reasoning, Data Extraction, Interpretation, Language Processing And Language Training, Automated Planning, Computer Vision, Handwriting Recognition/ Optical Character Recognition and Speech Recognition), Application (Robot-Assisted Surgery, Preliminary Diagnosis, Clinical Trial Participant Identifier, Dosage Error Reduction, Virtual Nursing Assistant, Administrative Workflow Assistance, Fraud Detection and Other) and Region.
On the basis of geography, the market of Healthcare Cognitive Computing 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). If we see Market by Component, the sub-segment i.e. Hardware will boost the Healthcare Cognitive Computing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Healthcare provider will boost the Healthcare Cognitive Computing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Advancement in technology in the healthcare sector
Market Growth Drivers:
Wider application potential across the healthcare industry, including patients and hospitals and Growing complex and large dataset
Challenges:
Lack of availability of skilled professionals and Lack of awareness about this technology
Restraints:
Availability of alternative technology and High deployment cost associated with healthcare cognitive computing
Opportunities:
Growing government support and investment in the healthcare sector
Market Leaders and their expansionary development strategies
In April 2024, Linus Health, a digital health company enabling early detection of Alzheimer’s and other dementias, has acquired Aural Analytics, a leader in clinical-grade speech analytics.With the acquisition of Aural Analytics, Linus Health, the leader in multimodal cognitive assessments, has added clinical-grade speech analytics to its platform. This allows Linus Health to further enable researchers and clinicians to identify cognitive impairment and better understand the characteristics of those impairments.
In February 2024, Mphasis, an Information Technology (IT) solutions provider specialising in cloud and cognitive services has launched of DeepInsights Doc AI, an intelligent document processing solution, powered by generative AI. Through this platform, Mphasis will help enterprise clients extract context-specific information from documents, regardless of their format or layout, and integrate it with downstream IT systems to generate actionable insights.
Key Target Audience
Healthcare Cognitive Computing Service Providers, Government Agencies, Commercial Research & Development Institutions, Government Organizations, Research Organizations, and Consulting Firms, Trade Associations and Industry Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.