Natural Language Processing (NLP) in Healthcare and Life Sciences Market Analysis | Coherent Market Insights

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2. Natural Language Processing (NLP) in Healthcare and Life Sciences Market Analysis (2020-2027) • Adoption of Natural Language Processing (NLP) is increasing in the specific areas of healthcare sector, which include risk management, clinical documentation, and electronic health records. Apart from these applications, healthcare and life sciences include several applications, where companies need to focus and develop solutions using NLP. Increasing medical research, pharmaceutical drug development, and healthcare needs are creating various opportunities for NLP technology implementation. The life science and diagnostics research field includes computational phenotyping and Machine Translation. The unstructured data of clinicians with the complexities of phenotyping patients for analysis is major field in which companies have scope to develop and offer solutions based on NLP.

3. Market Dynamics • The NLP in healthcare and life sciences market is expected to witness significant growth during the forecast period, owing to increasing adoption of Artificial Intelligence (AI) in the healthcare and life sciences industry. The use of NLP platform in the industry is primarily attributed to the need to generate valuable insights from unstructured clinical data. The healthcare industry is focused on better customer experience, cost reduction through use of NLP in information extraction, and unstructured data conversion and summarization. Furthermore, NLP also helps for efficient billing by extracting relevant information from unstructured physician notes and appropriately assigns medical codes to facilitate billing process.

4. However, increasing cybercrime is one of the major restraining factor for NLP in healthcare and life sciences market growth. To overcome this several governments are focused on introducing new laws. For instance, in May 2018, India’s health ministry introduced a law for security purpose in the healthcare sector. This law gives individuals complete ownership of their health data. Individuals have the absolute right to refuse or allow data to be generated, collected, accessed, transmitted or used. Data collecting organizations such as hospitals are prohibited from refusing treatment to those individual that do not want their data to be collected or used.

5. Key features of the study: • This report provides in-depth analysis of the natural language processing in healthcare and life sciences market, market size (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the forecast period: 2018 – 2026, considering 2017 as the base year • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market • This study also provides key insights about market drivers, restraints, opportunities, new component launches or approval, market trends, regional outlook, and competitive strategies adopted by key players • It profiles key players in the global natural language processing in healthcare and life sciences market based on the following parameters – company overview, financial performance, component portfolio, geographical presence, distribution strategies, key developments, and strategies

6. s • Key players covered as a part of this study include, 3M, Cerner Corporation, IBM Corporation, Microsoft Corporation, Heath Fidelity, Linguamatics, Dolbey Systems Inc., and Apixio Inc. • Insights from this report would allow marketers and management authorities of companies to make informed decision with respect to their future component launch, governmental initiatives, technological up-gradation, market expansion, and marketing tactics • The global natural language processing in healthcare and life sciences market report caters to various stakeholders in this industry, including investors, component manufacturers, distributors, and suppliers for natural language processing in healthcare and life sciences market, research and consulting firms, new entrants, and financial analysts

7. Detailed Segmentation: • Global Natural Language Processing in Healthcare and Life Sciences Market, By Component Type: • Technology • Interactive Voice Response • Pattern and Image Recognition • Text Analytics • Speech Analytics • Services • Global Natural Language Processing in Healthcare and Life Sciences Market, By Application: • Predictive Risk Analytics • Machine Translation • Information Extraction • Report Generation

8. Global Natural Language Processing in Healthcare and Life Sciences Market, By Deployment Mode: • On-premise • Cloud • Global Natural Language Processing in Healthcare and Life Sciences Market, By Region: • North America • Global Natural Language Processing in Healthcare and Life Sciences Market, By Deployment Mode: • On-premise • Cloud • Global Natural Language Processing in Healthcare and Life Sciences Market, By Region: • North America • By Country: • U.S. • Canada

9. s • By Component Type: • Technology • Interactive Voice Response • Pattern and Image Recognition • Text Analytics • Speech Analytics • Services    • By Application: • Predictive Risk Analytics • Machine Translation • Information Extraction • Report GenerationBy • Deployment Mode:

10. On-premise • Cloud • Europe • By Country: • U.K. • Germany • Italy • Spain • France • Russia • Rest of Europe • By Component Type: • Technology

11. s • Interactive Voice Response • Pattern and Image Recognition • Text Analytics • Speech Analytics • Services    • By Application: • Predictive Risk Analytics • Machine Translation • Information Extraction • Report Generation • By Deployment Mode: • On-premise • Cloud

12. Asia Pacific • By Country: • Australia • India • China • Japan • ASEAN • South Korea • Rest of Asia Pacific • By Component Type: • Technology • Interactive Voice Response • Pattern and Image Recognition

13. Text Analytics • Speech Analytics • Services          • By Application: • Predictive Risk Analytics • Machine Translation • Information Extraction • Report Generation • By Deployment Mode: • On-premise • Cloud • Latin America • By Country:

14. Brazil • Mexico • Argentina • Rest of Latin America • By Component Type: • Technology • Interactive Voice Response • Pattern and Image Recognition • Text Analytics • Speech Analytics • Services • By Application:

15. Predictive Risk Analytics • Machine Translation • Information Extraction • Report Generation • By Deployment Mode: • On-premise • Cloud • Middle East • By Country: • GCC • Israel • Rest of Middle East • By Component Type: • Technology

16. Interactive Voice Response • Pattern and Image Recognition • Text Analytics • Speech Analytics • Services • By Application: • Predictive Risk Analytics • Machine Translation • Information Extraction • Report Generation • By Deployment Mode: • On-premise • Cloud

17. Middle East • By Country: • GCC • Israel • Rest of Middle East • By Component Type: • Technology • Interactive Voice Response • Pattern and Image Recognition • Text Analytics • Speech Analytics • Services • By Application:

18. Predictive Risk Analytics • Machine Translation • Information Extraction • Report Generation • By Deployment Mode: • On-premise • Cloud • Africa • By Country/Region: • South Africa • Central Africa • North Africa • By Component Type: • Technology • Interactive Voice Response • Pattern and Image Recognition • Text Analytics • Speech Analytics • Services          • By Application: • Predictive Risk Analytics • Machine Translation • Information Extraction • Report Generation

19. Technology • Interactive Voice Response • Pattern and Image Recognition • Text Analytics • Speech Analytics • Services • By Application: • Predictive Risk Analytics • Machine Translation • Information Extraction • Report Generation • By Deployment Mode: • On-premise • Cloud • Company Profiles • 3M* • Company Overview • Component Portfolio • Financial Performance • Recent Highlights • Strategies • Cerner Corporation • IBM Corporation • Microsoft Corporation

20. Heath Fidelity • Linguamatics • Dolbey Systems, Inc. • Apixio Inc.

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