The NLP in Healthcare and Life Sciences Market Size was valued at USD 2.35 billion in 2022 and is expected to reach USD 9.54 billion by 2030, and grow at a CAGR of 19.1% over the forecast period 2023-2030.

The NLP (Natural Language Processing) technology has gained significant traction in the healthcare and life sciences industry, revolutionizing the way data is processed, analyzed, and utilized. This market is witnessing remarkable growth as organizations recognize the immense potential of NLP in improving patient care, enhancing research capabilities, and streamlining administrative tasks.

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One of the key applications of NLP in healthcare is clinical documentation. Traditionally, healthcare professionals spent a substantial amount of time manually transcribing patient information into electronic health records (EHRs). However, with NLP-powered solutions, this process has become more efficient and accurate. NLP algorithms can extract relevant information from unstructured clinical notes or medical literature and automatically populate EHRs. This not only saves time but also reduces errors and enables clinicians to focus more on patient care.

Moreover, NLP algorithms can analyze vast amounts of medical literature and research papers to provide valuable insights for drug discovery and development.

KEY MARKET SEGMENTS

By Component:

  • Solution
  • Services

By Deployment Mode:

  • Cloud
  • On-premises

By Organization Size:

  • Large enterprises
  • Small and medium-sized enterprises (SMEs)

By NLP:

  • Rule-based
  • Hybrid
  • Statistical

By Application:

  • IVR
  • Summarization and Categorization
  • Pattern and Image Recognition
  • Predictive Risk Analytics
  • Text and Speech Analytics
  • Reporting and Visualization
  • Other

By End User:

  • NLP for Physician
  • NLP for Clinical Operators
  • NLP for Patients
  • NLP for Researchers

Major Players Listed in the Report are as Follows:

IBM, 3M, Health Fidelity, Inc., Linguamatics, Cerner Corporation, Dolbey, Apixio, Amazon.com, Microsoft Corporation, and other players.

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