NLP Gains Traction in Healthcare and Life Sciences, According to M&M Report Now Available at MarketPublshers.com31 Oct 2016 • by Natalie Aster
LONDON – In 2016, a value of the market for Natural Language Processing (NLP) in healthcare and life sciences amounted to slightly above USD 1 billion. The marketplace is set to grow enormously in the years to come. For instance, its CAGR is expected to be approximately 21% over the period 2017-2021. A value of the market is set to be around USD 2.3 billion by 2021.
Such significant growth will originate from a rise in data, the increasing demand for enhanced customer experience, growth in the M2M technology, and more.
However, this growth will be restrained to a certain extent due to such factors as regulatory restraints and low adoption trends amongst consumers.
Emerging option in different application fields create good opportunities for this market’s space. Rising investments in the healthcare industry also favor market growth.
Pattern and image recognition is set to be the number one segment in terms of the growth tempo in the years to come. In terms of deployments modes this market is predicted to be reined by the cloud-based deployment in the offing.
Health Fidelity, Apixio, 3M and Linguamatics are some of the largest players globally.
New research report “Natural Language Processing (NLP) in Healthcare and Life Sciences Market by Component, Type, Application, Deployment Mode and Region - Global Forecast to 2021” elaborated by M&M comprehensively examines the NLP in healthcare and life sciences marketplace. The study comprises an all-round overview of this rapidly growing marketplace: its covers its segmentation, focuses on driving and restraining forces of this space, limelights challenges and opportunities it has.
The report includes Porter’s five forces and value chain analyses of the marketplace. The research study throws light on the ecosystem. It explores the global market performance on the basis of technologies, types of NLP, deployment models, services, industry verticals and application fields.
The research report scrutinizes the market landscape in a number of leading countries. The study delves deep into the situation in the competitive landscape and profiles top companies. Projections for this marketplace through 2021 are available in the report, as well.
More new studies by our partner can be found at M&M page.