Natural Language Processing (NLP) In Healthcare And Life Sciences
The Natural Language Processing (NLP) In Healthcare And Life Sciences Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
How Big Is the Natural Language Processing (NLP) In Healthcare And Life Sciences Market Size Expected to Be by 2034?
The market value of natural language processing (NLP) in the healthcare and life sciences sector has seen a significant surge in recent times. The market, which was valued at $3.07 billion in 2024, is projected to increase to $3.72 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 21.1%. Factors that have contributed to this historical growth include the adoption of electronic health records (EHR), improvement in clinical documentation, mining of medical literature, increasing demand for clinical decision support, and escalating healthcare costs.
The market size of natural language processing (NLP) in healthcare and life sciences is predicted to witness a significant rise in the upcoming years. The market is anticipated to reach $8.84 billion in 2029, expanding at a compound annual growth rate (CAGR) of 24.2%. The substantial growth during this prediction period could be due to factors such as personalized medicine influenced by AI, the substantial growth of telemedicine, regulatory compliance and coding, genomics, and precision medicine, as well as healthcare data interoperability. Key trends during this projected period are likely to encompass conversational AI in patient care, semantic search and knowledge graphs, ethical use of NLP, real-time clinical NLP, and narrative data processing.
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What Are the Emerging Segments Within the Natural Language Processing (NLP) In Healthcare And Life Sciences Market?
The natural language processing (NLP) in healthcare and life sciences market covered in this report is segmented –
1) By NLP Type: Rule-Based NLP, Statistical NLP, Hybrid NLP
2) By Component: Solutions, Services,
3) By Organization Size: Large Enterprises, Small And Midsize Enterprises (SMEs)
4) By Application: Sentiment Analysis, Drug Discovery, Clinical Trail Matching, Risk And Compliance Management, Dictation And EMR Implication, Automated Registry Reporting, AI Chatbots And Virtual Scribe, Other Applications
5) By End-User: Public Health And Government Agencies, Medical Devices, Healthcare Insurance, Pharmaceuticals, Other End-Users
Subsegments:
1) By Rule-Based NLP: Expert Systems, Knowledge-Based Approaches, Grammar-Based NLP
2) By Statistical NLP: Machine Learning Models, Natural Language Understanding (NLU), Text Classification And Clustering
3) By Hybrid NLP: Combining Rule-Based And Statistical Approaches, Context-Aware NLP, Deep Learning Models
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What Long-Term Drivers Are Shaping Natural Language Processing (NLP) In Healthcare And Life Sciences Market Trends?
The surge in digital technology usage in healthcare is propelling the expansion of NLP in the healthcare and life sciences segment. Digital technology in this context pertains to the use of information and communication tools in medical and other health-related fields to provide patient care, mitigate health threats, and foster wellness. Natural language processing (NLP), a digital healthcare technology, is employed to scrutinize unstructured data and extract valuable medical information. For instance, as stated by a press release from GOV.UK, a UK-based government services and information website, in December 2022, over 7 million new individuals registered for the NHS App in 2022. This brought the total number of registrations to exceed 30 million, with the government exceeding its goal of having 68% of England’s population registered by March 2023 and poised to reach 75% by 2024. Due to this, the mounting uptake of digital technology in the healthcare sector is anticipated to drive the rise of NLP in the healthcare and life sciences segment.
Who Are the Top Competitors in Key Natural Language Processing (NLP) In Healthcare And Life Sciences Market Segments?
Major companies operating in the natural language processing (NLP) in healthcare and life sciences market include Google LLC, Microsoft Corporation, Optum Inc., Amazon Web Services Inc., International Business Machines Corporation, 3M Company, IQVIA Holdings Inc., Cerner Corporation, Inovalon Holdings Inc., NextGen Healthcare Inc., Welltok Inc., SparkCognition Inc., HealthFusion Inc., Syapse Inc., Apixio Inc., Conversica Inc., Infermedica, Rasa Technologies, Health Fidelity Inc., Linguamatics Ltd., Dolbey Systems Inc., SparkBeyond, Lexalytics Inc., Clinithink Ltd., Semedy AG, Sentient Technologies LLC, Zyla Health, Anumana Inc., Heath Fidelity Inc., Averbis GmbH
What Natural Language Processing (NLP) In Healthcare And Life Sciences Market Trends Are Gaining Traction Across Different Segments?
In the NLP (Natural Language Processing) in healthcare and life sciences market, technological innovations are becoming increasingly significant. The primary companies in this market are focusing their energies on developing groundbreaking technologies to improve both data analysis and patient care. As an illustration, John Snow Labs, a healthcare AI company based in the US, released Spark NLP 4.0 in June 2022. This release includes question-answering annotators and offers a plethora of pre-trained models using technologies such as BERT, ALBERT, DeBERTa, RoBERTa, DistilBERT, Longformer, and XLM-RoBERTa. These models enhance the functionality of NLP in healthcare and life sciences by supporting various languages, document types, and performance objectives.
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Which Regions Are Becoming Hubs for Natural Language Processing (NLP) In Healthcare And Life Sciences Market Innovation?
North America was the largest region in the NLP in healthcare and life sciences market in 2024. The regions covered in the natural language processing (NLP) in healthcare and life sciences market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Natural Language Processing (NLP) In Healthcare And Life Sciences Market?
2. What is the CAGR expected in the Natural Language Processing (NLP) In Healthcare And Life Sciences Market?
3. What Are the Key Innovations Transforming the Natural Language Processing (NLP) In Healthcare And Life Sciences Industry?
4. Which Region Is Leading the Natural Language Processing (NLP) In Healthcare And Life Sciences Market?
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