Healthcare Cognitive Computing Market Size Worth US$ 13.2 Billion by 2028, with growth rate (CAGR) of 19%

IMARC Group, a leading market research company, has recently releases report titled "Healthcare Cognitive Computing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global healthcare cognitive computing market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Healthcare Cognitive Computing Market?
The global healthcare cognitive computing market size reached US$ 4.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.2 Billion by 2028, exhibiting a growth rate (CAGR) of 19% during 2023-2028.

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Healthcare cognitive computing relies on advanced technologies, such as artificial intelligence (AI), machine learning (ML), natural language processing (NLP), and other computational techniques to analyze and interpret complex medical data. It involves the development of systems that can learn, reason, and understand natural language to help clinicians and healthcare organizations make more informed decisions and improve patient outcomes. It also enables the selection of medicine by analyzing patient data and providing tailored treatment plans based on the individual needs of the patients as per their medical history and genetic information. It also assists in improving diagnostic accuracy, reducing errors, and increasing efficiency, which reduces healthcare costs and improves the overall value of healthcare delivery. Healthcare cognitive computing is also employed in analyzing large volumes of medical records quickly and accurately and providing recommendations for treatment plans, clinical trials, and drug interactions. At present, it is used in various healthcare applications, such as diagnosis, treatment, drug discovery, personalized medicine, and patient engagement, across the globe.

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What are the growth prospects and trends in the healthcare cognitive computing industry?

The growing geriatric population and rising consumer consciousness about health are catalyzing the demand for personalized medicines that are prepared according to individual history. This represents one of the key factors positively influencing the market across the globe. In addition, rapid digitization and widespread adoption of electronic health records (EHRs) are propelling the demand for healthcare cognitive computing to analyze data, provide health insights and improve outcomes.

Moreover, the rising adoption of advanced technologies, such as AI, ML, and the internet of things (IoT) for analyzing complex healthcare data and providing accurate predictions and recommendations for patient care is bolstering the market growth. Apart from this, the increasing prevalence of chronic diseases, including diabetes, cancer, and cardiovascular disorders, is increasing the need for efficient and effective healthcare delivery. Healthcare cognitive computing also helps clinicians make more decisions about patient care in real-time, which aids in reducing healthcare costs.

In line with this, governments of various countries are extensively investing in healthcare infrastructure to improve healthcare delivery, which is creating a favorable market outlook. Moreover, the increasing adoption of cloud computing in healthcare organizations to store and analyze large volumes of medical data more efficiently is strengthening the market growth. Besides this, healthcare cognitive computing is used to develop virtual assistants that can interact with patients and help them manage their health. They also help in monitoring patient progress and connecting healthcare providers, which is stimulating the growth of the market around the world.

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Global Healthcare Cognitive Computing Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Apixio (Centene Corporation), Apple Inc., CognitiveScale, Enterra Solutions LLC, Google LLC (Alphabet Inc.), Healthcare X.0 GmbH, Intel Corporation, International Business Machines Corporation, MedWhat and Microsoft Corporation.

The report has segmented the market on the basis of region, technology, deployment mode and end use.

Breakup by Technology:
• Natural Language Processing
• Machine Learning
• Automated Reasoning
• Others

Breakup by Deployment Mode:
• On-premises
• Cloud-based

Breakup by End Use:
• Hospitals
• Pharmaceuticals
• Medical Devices
• Insurance
• Others

Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

If you want latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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