Healthcare Cognitive Computing Market is Forecasted to Grow at a CAGR of 34.0% During Forecast Period - P&S Intelligence

The healthcare cognitive computing market size is projected to cross $13.3 billion by 2023. The growth in the healthcare cognitive computing industry size will be led by increasing burden of chronic diseases, technological advancements in the healthcare industry encouraging the use of cognitive computing in healthcare, and rising adoption of third computing platforms.

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End-users in the healthcare cognitive computing market include healthcare providers, pharmaceutical companies, medical device companies, healthcare payers, and several others such as research institutions and CROs. Although cognitive computing in healthcare is being used by various healthcare professionals, but it is the healthcare providers category, which is expected to witness fastest growth in demand during the forecast period. Healthcare providers are expected to lead the global market, occupying a 44.5% share, in 2017. This growth in demand can be attributed to increased usage of cognitive platforms for the detection and treatment of rare diseases. For instance, in October 2016, Rhön-Klinikum AG, a private hospital group in Germany, teamed up with IBM Corporation on a 12-month pilot project to help detect rare diseases and find their cure using the IBM’s Watson platform.

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The European market for health care cognitive computing is expected to grow at a CAGR of 33.4% between 2017-2023, to cross $4.0 billion by 2023. The growth in the European healthcare cognitive computing market is mainly led by growing geriatric population and increasing partnerships between healthcare providers, government agencies, and market players in the region. The U.K. has been the largest market in the region for healthcare cognitive computing, and is estimated to contribute share of 39.1% to the regional healthcare cognitive computing market in 2017, on account of the increasing adoption of cognitive computing by the healthcare providers in the country. During the forecast period the healthcare cognitive computing industry in France is expected to witness fastest growth in demand.

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Some of the other key players operating in the healthcare cognitive computing market include Enterra Solutions, LLC, Intel Corporation, Alphabet Inc., Hewlett Packard Enterprise (HPE), Nuance Communications, Inc., CognitiveScale, Healthcare X.0 GmbH, and MedWhat.com Inc.

GLOBAL HEALTHCARE COGNITIVE COMPUTING MARKET SEGMENTATION
Market Segmentation by Technology
• Natural language processing (NLP)
• Machine learning
• Automated reasoning
• Information retrieval
Market Segmentation by Deployment Model
• Cloud
• On-premise
Market Segmentation by End-User
• Healthcare providers
• Pharmaceutical companies
• Medical device companies
• Healthcare payers
• Others (research laboratories and contract research organizations [CROs])
Market Segmentation by Geography
• North America healthcare cognitive computing market
o By technology
o By deployment model
o By end-user
o By country - U.S. and Canada
• Europe healthcare cognitive computing market
o By technology
o By deployment model
o By end-user
o By country - U.K., Germany, France and Rest of Europe
• Asia-Pacific (APAC) healthcare cognitive computing market
o By technology
o By deployment model
o By end-user
o By country - China, Japan, India and Rest of APAC
• Middle East and Africa (MEA) healthcare cognitive computing market
o By technology
o By deployment model
o By end-user
• Latin America (LATAM) healthcare cognitive computing market
o By technology
o By deployment model
o By end-user
o By country - Brazil and Rest of LATAM

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This release was published on openPR.