Healthcare Natural Language Processing (NLP) Market Size is Projected To Reach USD 3.7 Billion By 2025

The global Natural Language Processing (NLP) in healthcare and life sciences market size to grow from USD 1.5 billion in 2020 to USD 3.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 20.5% during the forecast period.

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Global Healthcare Natural Language Processing (NLP) Market Size study, by Type (Statistically Based NLP, Mixed NLP), by Application (Life Science, Others) and Regional Forecasts 2018-2025

The Healthcare Natural Language Processing (NLP) Market is continuously growing across the world over the coming years. Natural language processing (NLP) technologies allows humans to interact with computers through conventional languages such as English and German instead of artificial languages such as Java and C++. These technologies use a computer to process, analyze, and generate computational linguistics on the basis of human languages.

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Currently, NLP technology is being extensively used in the healthcare industry as several public and private health organizations are using it for clinical applications. Hospitals and clinics are adopting these technologies to improve patient engagement and bring in efficiency in decision-making capabilities. Rising utility of machine learning applications in clinical decision making and increasing use of smart devices are the substantial drivers of the market across the globe.

In addition, patients involve in treatment process has also rising the demand with the deployment of natural language processing within healthcare. Moreover, escalating adoption of EHR electronic health record systems is creating a lucrative opportunity in the market over the coming years.

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Healthcare natural language processing offers various benefits such as computer assisted coding, clinical documentation improvement, clinical decision support and interoperability. These factors increases the demand of healthcare natural language processing. However, lack of skilled professional and risk of medical errors are the major restraining factors across the world. The regional analysis of Global Healthcare Natural Language Processing (NLP) Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World.

The major market player included in this report are:
• Cerner Corporation
• IBM Corporation
• Microsoft Corporation
• Nuance Corporation
• Apixio
• MModal IP

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:

? Statistically Based NLP
? Mixed NLP

By Application:

? Life Science
? Others

By Regions:
? North America
o U.S.
o Canada
? Europe
o UK
o Germany
? Asia Pacific
o China
o India
o Japan
? Latin America
o Brazil
o Mexico
? Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025

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