Healthcare Cognitive Computing Market 2024: Size, Growth, Drivers, Challenges, Opportunities, Shares And Forecast Analysis By 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Healthcare Cognitive Computing Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The healthcare cognitive computing market size has grown exponentially in recent years. It will grow from $6.02 billion in 2023 to $7.47 billion in 2024 at a compound annual growth rate (CAGR) of 24.0%. The growth in the historic period can be attributed to growing volume of healthcare data, enhanced image and pattern recognition, push for value-based healthcare, integration with electronic health records, focus on population health management, drug discovery and development..

The healthcare cognitive computing market size is expected to see exponential growth in the next few years. It will grow to $17.69 billion in 2028 at a compound annual growth rate (CAGR) of 24.1%. The growth in the forecast period can be attributed to expansion of genomic medicine, integration with wearable devices, focus on mental health solutions, utilization in precision oncology, enhanced cybersecurity measures, growth of virtual health assistants.. Major trends in the forecast period include advancements in artificial intelligence (ai), automation of administrative tasks, virtual health assistants , collaborations and partnerships, genomic medicine integration, .

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Key Market Players:
Major companies operating in the healthcare cognitive computing market report are 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, Parametric Technology Corporation, Numenta Inc., Vicarious Systems Inc., Naka Technology Inc., Nuance Communications Incorporated, Ayasdi Inc., General Vision Inc., Health Fidelity Inc., Linguamatics Inc., Persado Inc., Suki Inc., Verint Systems Inc., Welltok Inc., Zephyr Health Inc., Zebra Medical Vision Ltd.

Market Drivers:
The growing prevalence of chronic diseases is expected to boost the healthcare cognitive computing market going forward. Chronic diseases, sometimes called non-communicable diseases (NCDs), are conditions that last for an extended period and are caused by a mix of genetic, physiological, environmental, and behavioral factors. Researchers can learn new things about the connections between genes, proteins, pathways, phenotypes, and diseases with the help of cognitive computing. Cognitive computing can generate concise summaries that highlight the most important aspects of a patient's situation for both patients and healthcare providers, hence it will boost the healthcare cognitive computing market. For instance, according to the report published by World Health Organization (WHO), a Switzerland-based inter-governmental organization, responsible for providing leadership on global health matters, in 2022, chronic diseases or non-communicable diseases (NCDs) account for 74% of all deaths worldwide, killing 41 million people every year. Therefore, growing prevalence of chronic diseases is driving the growth of the healthcare cognitive computing market.

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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

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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