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Unlocking Opportunities in the Healare Cognitive Computing Market: 2025-2034 Forecast Report
Healare Cognitive Computing Market Size
What Will the Healare Cognitive Computing Industry Market Size Be by 2025?
The market size of cognitive computing in healare has seen an incredible expansion in the past few years. It is projected to rise from $7.32 billion in 2024 to $8.99 billion in 2025, with a compound annual growth rate (CAGR) of 22.8%. Factors contributing to this notable growth during the historic period include the increasing volume of healare data, improved image and pattern recognition, the drive towards value-based healare, integration into electronic health records, an emphasis on managing population health, and advancements in drug discovery and development.
What's the Long-Term Growth Forecast for the Healare Cognitive Computing Market Size Through 2029?
The projected expansion of the healare cognitive computing market is anticipated to be substantial in the coming years, with its value reaching an estimated $22.34 billion in 2029, indicating a compound annual growth rate (CAGR) of 25.6%. Factors contributing to this estimated surge during the forecast period include developments in genomic medicine, integration with wearable technology, focus on mental health initiatives, use in precision oncology, improved cybersecurity, and the rise of virtual health assistants. Key trends during this period will likely involve advancements in artificial intelligence (AI), automation in administrative tasks, virtual health assistant use, partnerships and collaborations, and integration into genomic medicine.
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What Are the Key Growth Drivers Fueling the Healare Cognitive Computing Market Expansion?
The increasing occurrence of chronic illnesses is anticipated to stimulate expansion in the healare cognitive computing market. Chronic illnesses, also known as non-communicable diseases (NCDs), are long-term ailments stemming from a combination of genetic, physiological, environmental, and behavior-related factors. Cognitive computing aids researchers in discovering unknown aspects about the relationships amongst genes, proteins, pathways, phenotypes, and diseases. This technology can create precise summaries that bring attention to the crucial details of a patient's condition for both the patient and healare professionals, thereby enhancing the healare cognitive computing market. For example, a 2022 report published by the World Health Organization (WHO), an intergovernmental organization based in Switzerland charged with leading global health matters, noted that chronic or non-communicable diseases (NCDs) constitute 74% of global deaths, causing 41 million fatalities annually. As a result, the escalating rates of chronic illnesses are propelling the healare cognitive computing market's growth.
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What Are the Key Trends Driving Healare Cognitive Computing Market Growth?
Technological progression is the key driving trend in the healare cognitive computing market, as companies are developing advanced applications to solidify their market stance. Apixio Inc., an American entity that operates in this market, launched a healare management tool, Apicare ChartSpace, in 2022. This AI-driven tool offers real-time access to health data, enhanced data security, and centralizes data from various health programs. Health organizations can readily search, filter, view and download medical records anytime, besides getting insights on diagnosis codes and ad-hoc analytics. Aside from this, Apicare ChartSpace also provides a secure platform for storing and sharing health records in diverse formats like PDFs, images, HTML, CCDA, and FHIR that are procured from Electronic Health Records (EHRs) and other data sources.
How Is the Healare Cognitive Computing Market Segmented?
The healare 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 Companies Are Leading the Charge in Healare Cognitive Computing Market Innovation?
Major companies operating in the healare cognitive computing market are Apixio Inc., CognitiveScale, Healare 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.
Which Regions Are Leading the Global Healare Cognitive Computing Market in Revenue?
North America was the largest region in the healare 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 healare cognitive computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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