Cognitive Computing in Healthcare: Market Forecast to Exceed $23.9 Billion by 2033
The Global Healthcare Cognitive Computing Market Size is Anticipated to Exceed USD 23.9 Billion by 2033, Growing at a CAGR of 16.70% from 2023 to 2033.
Cognitive computing refers to the electronic modeling of human cognitive processes and plays a crucial role in identifying fraud and potential risks. In the healthcare sector, it assists physicians in treating patients by leveraging insights from previous research. Renowned for its ability to process large volumes of complex data, cognitive computing is gaining traction across various medical applications. Key areas driving its adoption include oncology, personalized medicine, skin cancer screening, electronic health record (EHR) data analytics, medical imaging analysis, and the management of chronic diseases. The increasing prevalence of chronic conditions such as diabetes, cancer, and cardiovascular diseases has heightened concerns among governments and healthcare providers. Additionally, the demand for personalized healthcare services, the surge in both structured and unstructured data, advancements in data mining and analytics, and the growing adoption of cloud services are significant factors propelling the growth of the healthcare cognitive computing market.
This study gives a detailed analysis of drivers, restrains, opportunities and challenges limiting the market expansion of Healthcare Cognitive Computing market. The survey included a diverse set of players, including a balance of leading and growing manufacturers for business profiling, such as;
IBM Microsoft CognitiveScale Numenta Cognizant Vicarious Enterra Solutions Deepmind SparkCognition TIBCO Software Inc NakaTech Wipro Limited Nuance Communications, Inc, Intel Corporation Others
Our expert team is consistently working on updated data and information on the key player's related business processes that value the market for future strategies and predictions
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Market Segmentation:
By Technology
- Natural Language Processing
- Machine Learning
- Automated Reasoning
- Others
By Deployment Model
- On-premises
- Cloud-based
Covered in this Report:
1. Go-to-market Strategy.
2. Neutral perspective on the market performance.
3. Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, QMI quadrant, and other significant analysis, as well as development status.
4. Customized regional/country reports as per request and country level analysis.
5. Potential & niche segments and regions exhibiting promising growth covered.
6.Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).
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Industry Developments:
In April 2023, Microsoft and Cognizant announced that their long-standing healthcare collaboration is being extended. The objective of this development is to improve company operations and member experiences through better interoperability, improve the efficiency of claims management, and give healthcare payers and providers convenient access to cutting-edge technical solutions.
Regional Analysis for Healthcare Cognitive Computing Market:
✫ North America: (U.S., Canada, Mexico)
✫ Europe: (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
✫ Asia-Pacific: (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
✫ South America: (Colombia, Brazil, Argentina, Rest of South America)
✫ Middle East & Africa: (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Benefits of the Report:
⏩ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.
⏩ Top-down and bottom-up approach for regional analysis
⏩ Porter’s five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.
⏩ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market
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Frequently asked questions:
➥ What is the market size of the Healthcare Cognitive Computing market?
➥ What is the market growth rate of the Healthcare Cognitive Computing market?
➥ What are the Healthcare Cognitive Computing market opportunities and threats faced by the vendors in the global Healthcare Cognitive Computing Industry?
➥ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?
➥ What focused approach and constraints are holding the Healthcare Cognitive Computing market?
➥ What are the different sales, marketing, and distribution channels in the global industry?
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