What are the Historical Developments and Current Growth Metrics of the Healthcare Cognitive Computing Market?
The healthcare cognitive computing market has seen considerable growth due to a variety of factors.
• In recent years, the healthcare cognitive computing market has seen substantial growth. The market size, which is poised to increase from $7.32 billion in 2024 to $8.99 billion in 2025, is predicted to experience a compound annual growth rate (CAGR) of 22.8%. Factors such as a growing volume of healthcare data, improved image and pattern recognition, a push towards value-based healthcare, integration with electronic health records, an emphasis on population health management, and advancements in drug discovery and development all contribute to the significant growth observed in the historical period.
What Is The Projected Growth Of The Healthcare Cognitive Computing Market Size In The Coming Years?
The Healthcare Cognitive Computing market is expected to maintain its strong growth trajectory in upcoming years.
• The healthcare cognitive computing market is predicted to experience tremendous growth in the upcoming years, ballooning to $22.34 billion in 2029, with a compound annual growth rate (CAGR) of 25.6%.
This growth within the forecast period can be credited to advancements such as the expansion of genomic medicine, integration with wearable technology, an emphasis on mental health solutions, application in precision oncology, improved cybersecurity measures, and the emergence of virtual health assistants. Key trends for this forecast period encompass progress in artificial intelligence (AI), automation of administrative tasks, virtual health assistants, alliances and partnerships, and integration of genomic medicine.
What Are The Key Drivers Fueling Growth In The Healthcare Cognitive Computing Market?
Anticipated to grow due to the increasing prevalence of chronic diseases is the healthcare cognitive computing market. Chronic diseases, also known as non-communicable diseases (NCDs), are long-lasting diseases influenced by an array of factors including genetics, physiology, environment and behavior. Through cognitive computing, scientists are able to explore novel relationships among genes, proteins, pathways, phenotypes and diseases. Essential aspects of a patient's condition can be succinctly summarized through cognitive computing for both the patient and healthcare providers, thereby driving the growth of the healthcare cognitive computing market. For example, a report issued in 2022 by the World Health Organization (WHO), an inter-governmental organization in Switzerland responsible for global health leadership, revealed that chronic diseases or non-communicable diseases (NCDs) comprise 74% of all global deaths, claiming 41 million lives each year. Consequently, the rising prevalence of chronic diseases propels the growth of the healthcare cognitive computing market.
What Are The Principal Market Segments In The Global Healthcare Cognitive Computing Industry?
The healthcare cognitive computing market covered in this report is segmented –
1) By Technology: Natural Language Processing, Machine Learning, Automated Reasoning, Other Technology
2) By Deployment Mode: On-premises, Cloud-Based
3) By End Use: Hospitals, Pharmaceuticals, Medical Devices, Insurance, Other End uses
Subsegments:
1) By Natural Language Processing (NLP): Text Analytics, Speech Recognition, Sentiment Analysis
2) By Machine Learning: Supervised Learning, Unsupervised Learning, Reinforcement Learning
3) By Automated Reasoning: Rule-Based Systems, Logic Programming, Decision Support Systems
4) By Other Technology: Image Recognition, Robotics And Automation, Predictive Analytics
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Which Emerging Market Trends Are Altering The Healthcare Cognitive Computing Industry?
Technological progress has been identified as the primary trend influencing the healthcare cognitive computing market, with key participants concentrating their efforts on the development of advanced technologies to fortify their market standing. Case in point is the 2022 launch of Apicare ChartSpace by Apixio Inc., an American firm that operates in this field. Developed as an AI-driven health data management tool, it offers real-time data accessibility with enhanced data security, serving as a unified platform for chart data management across various programmes. It allows medical institutions to search, filter, view, and download charts at any time while providing chart-level insights on diagnosis codes and ad-hoc analytics. Apicare ChartSpace also offers a secure platform for users to save and share different chart formats (comprising PDFs, images, HTML, CCDA, and FHIR) retrieved from a variety of EHRs and other data sources.
Who Are the Key Players In The Healthcare Cognitive Computing Market?
Major companies operating in the healthcare cognitive computing market include:
• Apixio Inc.
• CognitiveScale
• Healthcare X.0 GmbH
• MedWhat Technology
• Palantir Technologies Inc.
• Apple Inc.
• Google LLC
• Intel Corporation
• Microsoft Corporation
• International Business Machines Corporation
• Enterra Solutions
• Saffron Technology Inc.
• DeepMind Technologies Limited
• SparkCognition Inc.
• TIBCO Software Inc.
• Wipro Limited
• Marlabs LLC
• SAP SE
• Numenta Inc.
• Nuance Communications Incorporated
• Ayasdi Inc.
• Health Fidelity Inc.
• Linguamatics Inc.
• Suki Inc.
• Verint Systems Inc.
• Welltok Inc.
• Zephyr Health Inc.
• Zebra Medical Vision Ltd.
What Are The Regional Insights Into The Healthcare Cognitive Computing Market?
North America was the largest region in the healthcare cognitive computing market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare cognitive computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
