What's driving the Healthcare Cognitive Computing Market Growth? | Top Key Players: IBM, Microsoft, Enterra Solutions, LLC, Intel Corporation, Alphabet Inc., Hewlett Packard Enterprise, CognitiveScale, Healthcare X.0 GmbH, MedWhat

According to P&S Intelligence, global healthcare cognitive computing market is forecasted to attain revenue of $13.3 billion by 2024. The growth in the healthcare cognitive computing market 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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Increasing burden of chronic diseases is driving the healthcare cognitive computing market, with the rising need to manage complex and large volume of data. Complex diagnosis and treatment options of these diseases have enabled the market players to develop various cognitive computing solutions to enable faster and effective decisions by healthcare providers. Companies such as IBM Corporation are increasingly collaborating with public organizations to address the concern of chronic diseases such as diabetes and cancer, since these diseases have witnessed a significant increase, over a period.

The APAC healthcare cognitive computing industry is expected to witness the fastest growth in demand, at a CAGR of 41.6%, during the forecast period, owing to rising geriatric population, increasing healthcare expenditure, growing public and private investments in the healthcare sector to cater to unmet medical needs, and burgeoning pharmaceutical industry in the region.

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According to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), people aged 65 years and above constituted approximately 11.4% of the population in 2013, and the count is estimated to increase by approximately 20% by 2050. Since the elderly generally need help in meeting their medication needs, including keeping track of their visits to the doctor, medication timings, exercise reminders, and dietary recommendations, there is ample scope for the healthcare cognitive computing market to flourish in the region.

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Some of the key players operating in the healthcare cognitive computing market:
1- IBM
2- Microsoft
3- Enterra Solutions, LLC
4- Intel Corporation
5- Alphabet Inc.
6- Hewlett Packard Enterprise
7- CognitiveScale
8- Healthcare X.0 GmbH
9- MedWhat

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.