NLP in Healthcare and Life Sciences Market - Global Forecast to 2026

Table of Content

1 INTRODUCTION 50
1.1 INTRODUCTION TO COVID-19 50
1.2 COVID-19 HEALTH ASSESSMENT 50
FIGURE 1 COVID-19: GLOBAL PROPAGATION 50
FIGURE 2 COVID-19 PROPAGATION: SELECT COUNTRIES 51
1.3 COVID-19 ECONOMIC ASSESSMENT 52
FIGURE 3 REVISED GROSS DOMESTIC PRODUCT FORECASTS FOR SELECT G20 COUNTRIES IN 2020 52
1.3.1 COVID-19 ECONOMIC IMPACT?SCENARIO ASSESSMENT 53
FIGURE 4 CRITERIA IMPACTING GLOBAL ECONOMY 53
FIGURE 5 SCENARIOS IN TERMS OF RECOVERY OF GLOBAL ECONOMY 54
1.4 OBJECTIVES OF THE STUDY 55
1.5 MARKET DEFINITION 55
1.5.1 INCLUSIONS AND EXCLUSIONS 56
1.6 MARKET SCOPE 57
1.6.1 MARKET SEGMENTATION 57
1.6.2 YEARS CONSIDERED FOR THE STUDY 58
1.7 CURRENCY CONSIDERED 58
TABLE 1 UNITED STATES DOLLAR EXCHANGE RATE, 2018–2020 58
1.8 STAKEHOLDERS 58
2 RESEARCH METHODOLOGY 59
2.1 RESEARCH DATA 59
FIGURE 6 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET: RESEARCH DESIGN 59
2.1.1 SECONDARY DATA 60
2.1.2 PRIMARY DATA 60
TABLE 2 PRIMARY INTERVIEWS 60
2.1.2.1 Breakup of primary profiles 61
2.1.2.2 Key industry insights 61
2.2 MARKET BREAKUP AND DATA TRIANGULATION 62
FIGURE 7 DATA TRIANGULATION 62
2.3 MARKET SIZE ESTIMATION 63
FIGURE 8 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET: TOP-DOWN AND BOTTOM-UP APPROACHES 63
2.3.1 TOP-DOWN APPROACH 63
2.3.2 BOTTOM-UP APPROACH 64
FIGURE 9 MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 1 (SUPPLY-SIDE): REVENUE FROM SOLUTIONS/SERVICES OF THE NLP IN THE HEALTHCARE AND LIFE SCIENCES MARKET 64
FIGURE 10 MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 2, BOTTOM-UP (SUPPLY-SIDE): COLLECTIVE REVENUE FROM ALL SOLUTIONS/SERVICES OF THE NLP IN THE HEALTHCARE AND LIFE SCIENCES MARKET 65
FIGURE 11 MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 3, BOTTOM-UP (SUPPLY-SIDE): COLLECTIVE REVENUE FROM ALL SOLUTIONS/SERVICES OF THE NLP IN THE HEALTHCARE AND LIFE SCIENCES MARKET 66
FIGURE 12 MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 4, BOTTOM-UP (DEMAND-SIDE): COMPONENT LEVEL SHARE THROUGH OVERALL NLP IN HEALTHCARE AND LIFE SCIENCES SPENDING 67
2.4 MARKET FORECAST 68
TABLE 3 FACTOR ANALYSIS 68
2.5 COMPANY EVALUATION MATRIX METHODOLOGY 69
FIGURE 13 COMPANY EVALUATION MATRIX: CRITERIA WEIGHTAGE 69
2.6 STARTUP/SME EVALUATION MATRIX METHODOLOGY 70
FIGURE 14 STARTUP/SME EVALUATION MATRIX: CRITERIA WEIGHTAGE 70
2.7 ASSUMPTIONS FOR THE STUDY 71
2.8 LIMITATIONS OF THE STUDY 72
2.9 IMPLICATIONS OF COVID-19 ON THE NLP IN HEALTHCARE AND LIFE SCIENCES MARKET 73
FIGURE 15 QUARTERLY IMPACT OF COVID-19 DURING 2020–2021 73
3 EXECUTIVE SUMMARY 76
TABLE 4 GLOBAL NLP IN HEALTHCARE AND LIFE SCIENCES MARKET SIZE AND GROWTH RATE, 2017–2020 (USD MILLION, Y-O-Y %) 77
TABLE 5 GLOBAL NLP IN HEALTHCARE AND LIFE SCIENCES MARKET SIZE AND GROWTH RATE, 2021–2026 (USD MILLION, Y-O-Y %) 78
FIGURE 16 SOLUTIONS SEGMENT TO DOMINATE THE NLP IN HEALTHCARE AND LIFE SCIENCES MARKET IN 2021 78
FIGURE 17 PROFESSIONAL SERVICES TO HOLD A LARGER MARKET SHARE OF THE NLP IN HEALTHCARE AND LIFE SCIENCES MARKET IN 2021 78
FIGURE 18 SYSTEM INTEGRATION AND IMPLEMENTATION SEGMENT TO DOMINATE THE NLP IN HEALTHCARE AND LIFE SCIENCES MARKET IN 2021 79
FIGURE 19 STATISTICAL SEGMENT TO HOLD THE LARGEST MARKET SHARE IN THE NLP IN HEALTHCARE AND LIFE SCIENCES MARKET IN 2021 79
FIGURE 20 INTERACTIVE VOICE RESPONSE SEGMENT TO BE THE LARGEST APPLICATION SEGMENT IN THE NLP IN HEALTHCARE AND LIFE SCIENCES MARKET IN 2021 79
FIGURE 21 CLINICAL VARIATION MANAGEMENT SEGMENT TO ACCOUNT FOR THE LARGEST MARKET SHARE IN 2021 80
FIGURE 22 CLOUD SEGMENT TO HOLD A LARGER MARKET SHARE IN 2021 80
FIGURE 23 LARGE ENTERPRISES TO DOMINATE THE NLP IN HEALTHCARE AND LIFE SCIENCES MARKET IN 2021 80
FIGURE 24 NLP FOR RESEARCHERS SEGMENT TO GROW AT THE HIGHEST CAGR IN 2021 81
FIGURE 25 NORTH AMERICA TO HOLD THE LARGEST MARKET SHARE AND ASIA PACIFIC TO GROW AT THE HIGHEST CAGR IN THE NLP IN HEALTHCARE AND LIFE SCIENCES MARKET IN 2021 81
4 PREMIUM INSIGHTS 82
4.1 ATTRACTIVE OPPORTUNITIES IN THE NLP IN HEALTHCARE AND LIFE SCIENCES MARKET 82
FIGURE 26 GROWING DEMAND TO IMPROVE ELECTRONIC HEALTHCARE DATA USABILITY FOR BETTER HEALTHCARE DELIVERY AND BUSINESS OUTCOMES TO DRIVE MARKET GROWTH 82
4.2 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET: TOP THREE APPLICATIONS 82
FIGURE 27 PATTERN AND IMAGE RECOGNITION SEGMENT TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 82
4.3 NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY COMPONENT AND TOP THREE APPLICATIONS 83
FIGURE 28 SOLUTIONS SEGMENT AND INTERACTIVE VOICE RESPONSE SEGMENT TO HOLD THE LARGEST MARKET SHARES IN NORTH AMERICA 2021 83
4.4 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET: BY REGION 83
FIGURE 29 NORTH AMERICA TO HOLD THE LARGEST MARKET SHARE IN 2021 83
5 MARKET OVERVIEW AND INDUSTRY TRENDS 84
5.1 INTRODUCTION 84
5.2 MARKET DYNAMICS 84
FIGURE 30 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET 85
5.2.1 DRIVERS 85
5.2.1.1 The rising urge of predictive analytics technology to reduce risks and improve significant health concerns 85
5.2.1.2 Growing demand for improving EHR data usability to improve healthcare delivery and outcomes 86
5.2.1.3 Growing need to analyze and extract insights from narrative text and huge amount of clinical data 86
5.2.2 RESTRAINTS 87
5.2.2.1 Specific medical sub-languages and poor input data quality 87
5.2.2.2 Inadequacy in the advancements of NLP technology using neural networks restricting its usage for cloud-based services 87
5.2.3 OPPORTUNITIES 87
5.2.3.1 Ensemble NLP systems to boost phenotyping capabilities 87
5.2.3.2 Rising demand for NLP systems programmed to understand the context of medical records 88
5.2.3.3 The emergence of cognitive computing to boost the demand for NLP solutions for precision medicine applications 88
5.2.4 CHALLENGES 89
5.2.4.1 Growing regulatory compliance and privacy concerns over data security during COVID-19 slow down the progress of researchers 89
5.2.4.2 Interoperability and reliability issues while deploying NLP algorithms 89
5.2.5 CUMULATIVE GROWTH ANALYSIS 90
5.3 NLP IN HEALTHCARE AND LIFE SCIENCES: ECOSYSTEM 90
FIGURE 31 ECOSYSTEM OF THE NLP IN HEALTHCARE AND LIFE SCIENCES MARKET 90
5.4 CASE STUDY ANALYSIS 91
5.4.1 DREXEL UNIVERSITY USED LINGUAMATICS I2E TO IMPROVE COHORT SELECTION FOR HIV AND HEPATITIS C 91
5.4.2 A HEALTHCARE COMPANY USED AXTRIA TO PROVIDE A COMPREHENSIVE VIEW OF PATIENT REPORTS AND DELIVER CRITICAL INSIGHTS TO BOTH HEALTHCARE PROVIDERS AND THE COMPANY 91
5.4.3 TO CREATE A DATABASE AND MEDICAL KNOWLEDGE BASE FOR AN ONLINE CLINIC CHATBOT TO BUILD UP ANAMNESIS 92
5.4.4 LEADING RENAL CARE PROVIDERS IMPLEMENT CITIUSTECH SOLUTION TO PREDICT HIGH-RISK CHRONIC KIDNEY DISEASE 92
5.4.5 HEALTH SYSTEM APPLIES LINGUAMATICS NLP PLATFORM TO IMPROVE PATIENT CARE AND GAIN INSIGHTS FROM POPULATION HEALTH DATA 93
5.4.6 LEADING HEALTHCARE PAYERS IMPLEMENTED LINGUAMATICS NLP SOLUTIONS TO GAIN INSIGHTS FROM THE UNSTRUCTURED DATA 93
5.4.7 MEDTRONIC BUILDS A MOBILE PERSONAL ASSISTANT APP FOR DIABETES MANAGEMENT 93
5.4.8 PRIMARY MEDICAL CARE GROUP ENGAGED FORESEE MEDICAL TO THE ESP RISK ADJUSTMENT SOFTWARE FOR IMPROVING PROFITABILITY 94
5.4.9 FLAGLER HEALTH IMPROVES THE EXPERIENCE OF CLINICAL DOCUMENTATION FOR RADIOLOGISTS 94
5.5 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET: COVID-19 IMPACT 95
FIGURE 32 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET TO WITNESS MINIMAL SLOWDOWN IN GROWTH IN 2020 96
5.6 NLP IN HEALTHCARE AND LIFE SCIENCES: ARCHITECTURE 97
FIGURE 33 FUNCTIONAL ELEMENTS OF NLP IN HEALTHCARE AND LIFE SCIENCES SOLUTIONS 97
5.7 TECHNOLOGY ANALYSIS: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET 97
5.7.1 HEALTHCARE TRACKERS, WEARABLES, AND SENSORS 97
5.7.2 VIRTUAL REALITY 98
5.7.3 AUGMENTED REALITY 98
5.7.4 3D PRINTING 98
5.7.5 ROBOTICS 99
5.7.6 NANOTECHNOLOGY 99
5.8 REGULATORY IMPLICATIONS 99
5.8.1 GENERAL DATA PROTECTION REGULATION 99
5.8.2 HEALTH LEVEL SEVEN 100
5.8.3 HEALTH INSURANCE PORTABILITY AND ACCOUNTABILITY ACT OF 1996 100
5.8.4 CEN ISO/IEEE 11073 100
5.8.5 HIPAA SECURITY RULE 101
5.8.6 HIPAA PRIVACY RULE 101
5.9 PATENT ANALYSIS 101
5.9.1 METHODOLOGY 101
5.9.2 DOCUMENT TYPE 101
TABLE 6 PATENTS FILED, 2018–2021 101
5.9.3 INNOVATION AND PATENT APPLICATIONS 101
FIGURE 34 TOTAL NUMBER OF PATENTS GRANTED OVER THE LAST THREE YEARS
(2018–2021) 102
5.9.3.1 Top applicants 102
FIGURE 35 TOP 10 COMPANIES WITH THE HIGHEST NUMBER OF PATENT APPLICATIONS, 2018–2021 102
5.10 SUPPLY CHAIN ANALYSIS 103
FIGURE 36 SUPPLY CHAIN ANALYSIS 103
TABLE 7 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET: SUPPLY CHAIN 104
5.11 PRICING MODEL ANALYSIS 105
TABLE 8 PRICING MODEL OF NLP IN HEALTHCARE AND LIFE SCIENCES PLAYERS: 2019–2020 105
5.12 PORTER’S FIVE FORCES ANALYSIS 106
TABLE 9 IMPACT OF EACH FORCE ON NLP IN HEALTHCARE AND LIFE SCIENCES 106
FIGURE 37 PORTER’S FIVE FORCES ANALYSIS 107
5.12.1 THREAT OF NEW ENTRANTS 107
5.12.2 THREAT OF SUBSTITUTES 108
5.12.3 BARGAINING POWER OF SUPPLIERS 108
5.12.4 BARGAINING POWER OF BUYERS 108
5.12.5 INTENSITY OF COMPETITIVE RIVALRY 108
5.13 SCENARIO 109
TABLE 10 CRITICAL FACTORS TO IMPACT THE GROWTH OF THE NLP IN THE HEALTHCARE AND LIFE SCIENCES MARKET 109
6 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY COMPONENT 110
6.1 INTRODUCTION 111
6.1.1 COMPONENTS: COVID-19 IMPACT 111
FIGURE 38 SERVICES TO REGISTER A HIGHER CAGR DURING THE FORECAST PERIOD 111
TABLE 11 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY COMPONENT,
2017–2020 (USD MILLION) 112
TABLE 12 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY COMPONENT,
2021–2026 (USD MILLION) 112
6.2 SOLUTIONS 112
TABLE 13 SOLUTIONS: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 113
TABLE 14 SOLUTIONS: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 113
FIGURE 39 COUNTER FRAUD MANAGEMENT SOLUTIONS TO REGISTER THE HIGHEST CAGR DURING THE FORECAST PERIOD 113
TABLE 15 NLP IN HEALTHCARE AND LIFE SCIENCES SOLUTIONS MARKET, BY TYPE, 2017–2020 (USD MILLION) 114
TABLE 16 NLP IN HEALTHCARE AND LIFE SCIENCES SOLUTIONS MARKET, BY TYPE, 2021–2026 (USD MILLION) 114
6.2.1 CLINICAL VARIATION MANAGEMENT 114
6.2.1.1 The need to analyze and process heterogeneous variations in clinical notes to drive NLP adoption for clinical variation management 114
TABLE 17 CLINICAL VARIATION MANAGEMENT: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 115
TABLE 18 CLINICAL VARIATION MANAGEMENT: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 115
6.2.2 POPULATION HEALTH MANAGEMENT 115
6.2.2.1 The need to analyze unstructured data for deriving insights about non-healthcare factors affecting population health to drive the adoption of NLP for population health management 115
TABLE 19 POPULATION HEALTH MANAGEMENT: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 116
TABLE 20 POPULATION HEALTH MANAGEMENT: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 116
6.2.3 COUNTER FRAUD MANAGEMENT 116
6.2.3.1 Increasing frauds in the healthcare sector due to complex and bureaucratic processes to drive the adoption of NLP solutions for counter fraud management 116
TABLE 21 COUNTER FRAUD MANAGEMENT: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 117
TABLE 22 COUNTER FRAUD MANAGEMENT: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 117
6.2.4 OTHER SOLUTIONS 117
TABLE 23 OTHER SOLUTIONS: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 118
TABLE 24 OTHER SOLUTIONS: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 118
6.3 SERVICES 118
FIGURE 40 MANAGED SERVICES TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD 119
TABLE 25 SERVICES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 119
TABLE 26 SERVICES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 119
TABLE 27 SERVICES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY TYPE, 2017–2020 (USD MILLION) 120
TABLE 28 SERVICES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY TYPE, 2021–2026 (USD MILLION) 120
6.3.1 PROFESSIONAL SERVICES 120
6.3.1.1 The need to understand unstructured data for enhancing enterprise insight discovery, analytics, and decision-making to drive the reliance on professional services 120
FIGURE 41 TRAINING AND CONSULTING SEGMENT TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 121
TABLE 29 PROFESSIONAL SERVICES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY TYPE, 2017–2020 (USD MILLION) 121
TABLE 30 PROFESSIONAL SERVICES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY TYPE, 2021–2026 (USD MILLION) 121
TABLE 31 PROFESSIONAL SERVICES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 122
TABLE 32 PROFESSIONAL SERVICES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 122
6.3.1.2 Training and consulting 122
TABLE 33 TRAINING AND CONSULTING: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 123
TABLE 34 TRAINING AND CONSULTING: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 123
6.3.1.3 Support and maintenance 123
TABLE 35 SUPPORT AND MAINTENANCE: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 123
TABLE 36 SUPPORT AND MAINTENANCE: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 124
6.3.1.4 System integration and implementation 124
TABLE 37 SYSTEM INTEGRATION AND IMPLEMENTATION: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 124
TABLE 38 SYSTEM INTEGRATION AND IMPLEMENTATION: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 124
6.3.2 MANAGED SERVICES 125
6.3.2.1 Customization needs due to ongoing demands and alterations in solutions support managed services 125
TABLE 39 MANAGED SERVICES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET,
BY REGION, 2017–2020 (USD MILLION) 125
TABLE 40 MANAGED SERVICES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 125
7 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY DEPLOYMENT MODE 126
7.1 INTRODUCTION 127
7.1.1 DEPLOYMENT MODES: COVID-19 IMPACT 127
FIGURE 42 CLOUD SEGMENT TO REGISTER A HIGHER CAGR DURING THE FORECAST PERIOD 127
TABLE 41 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY DEPLOYMENT MODE, 2017–2020 (USD MILLION) 128
TABLE 42 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION) 128
7.2 CLOUD 128
7.2.1 REDUCED OPERATIONAL COSTS AND HIGHER SCALABILITY TO SUPPORT THE GROWTH OF THIS SEGMENT 128
TABLE 43 CLOUD: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 129
TABLE 44 CLOUD: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 129
7.3 ON-PREMISES 129
7.3.1 EASE OF INTEGRATION OF DATA WITH THE EXISTING APPLICATIONS AND DATABASES RESULTED IN THE INCREASED ADOPTION OF ON-PREMISES NLP SOLUTIONS 129
TABLE 45 ON-PREMISES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 130
TABLE 46 ON-PREMISES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET,
BY REGION, 2021–2026 (USD MILLION) 130
8 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY ORGANIZATION SIZE 131
8.1 INTRODUCTION 132
8.1.1 ORGANIZATION SIZE: COVID-19 IMPACT 132
FIGURE 43 SMALL AND MEDIUM-SIZED ENTERPRISES SEGMENT TO REGISTER A HIGHER CAGR DURING THE FORECAST PERIOD 133
TABLE 47 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY ORGANIZATION SIZE, 2017–2020 (USD MILLION) 133
TABLE 48 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION) 133
8.2 LARGE ENTERPRISES 134
8.2.1 LARGE ENTERPRISES ARE INCREASINGLY INTEGRATING DISPARATE DATA INTO MEANINGFUL SOURCES FOR AI ALGORITHMS 134
TABLE 49 LARGE ENTERPRISES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 134
TABLE 50 LARGE ENTERPRISES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 134
8.3 SMALL AND MEDIUM-SIZED ENTERPRISES 135
8.3.1 SMALL AND MEDIUM-SIZED ENTERPRISES ARE AT AN EARLY STAGE OF NLP ADOPTION 135
TABLE 51 SMALL AND MEDIUM-SIZED ENTERPRISES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 135
TABLE 52 SMALL AND MEDIUM-SIZED ENTERPRISES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 135
9 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY NLP TYPE 136
9.1 INTRODUCTION 137
9.1.1 NLP TYPES: COVID-19 IMPACT 137
FIGURE 44 STATISTICAL SEGMENT TO WITNESS THE HIGHEST GROWTH RATE DURING THE FORECAST PERIOD 137
TABLE 53 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY NLP TYPE,
2017–2020 (USD MILLION) 138
TABLE 54 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY NLP TYPE,
2021–2026 (USD MILLION) 138
9.2 RULE-BASED NATURAL LANGUAGE PROCESSING 138
9.2.1 HIGH ACCURACY PROVIDED BY RULE-BASED NLP MODELS TO DRIVE MARKET GROWTH 138
TABLE 55 RULE-BASED: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 139
TABLE 56 RULE-BASED: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 139
9.3 STATISTICAL NATURAL LANGUAGE PROCESSING 139
9.3.1 THIS APPROACH IS WIDELY IMPLEMENTED IN SENTIMENT ANALYSIS AND INFORMATION EXTRACTION 139
TABLE 57 STATISTICAL: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 140
TABLE 58 STATISTICAL: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 140
9.4 HYBRID NATURAL LANGUAGE PROCESSING 140
9.4.1 HYBRID MODELS OFFER BENEFITS SUCH AS HIGH ACCURACY, BETTER SPEED, ROBUSTNESS, AND RELIABILITY 140
TABLE 59 HYBRID: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 141
TABLE 60 HYBRID: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 141
10 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY APPLICATION 142
10.1 INTRODUCTION 143
10.1.1 APPLICATIONS: COVID-19 IMPACT 143
FIGURE 45 PATTERN AND IMAGE RECOGNITION SEGMENT TO REGISTER THE HIGHEST CAGR DURING THE FORECAST PERIOD 143
TABLE 61 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY APPLICATION,
2017–2020 (USD MILLION) 144
TABLE 62 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY APPLICATION,
2021–2026 (USD MILLION) 144
10.2 INTERACTIVE VOICE RESPONSE 145
10.2.1 ADOPTION OF VIRTUAL CARE DELIVERY AND PAYMENTS DIGITIZATION FOR COVID-19 HEALTHCARE SERVICES CONTRIBUTES TO THE GROWTH OF INTERACTIVE VOICE RESPONSE 145
TABLE 63 INTERACTIVE VOICE RESPONSE: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 145
TABLE 64 INTERACTIVE VOICE RESPONSE: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 146
10.3 SUMMARIZATION AND CATEGORIZATION 146
10.3.1 THE NEED FOR INTELLIGENT PROCESSING OF UNSTRUCTURED HEALTH-RELATED DATA TO EXTRACT KNOWLEDGE TO DRIVE THE ADOPTION OF NLP FOR SUMMARIZATION AND CATEGORIZATION 146
TABLE 65 SUMMARIZATION AND CATEGORIZATION: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 147
TABLE 66 SUMMARIZATION AND CATEGORIZATION: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 147
10.4 REPORTING AND VISUALIZATION 147
10.4.1 FOCUS ON IDENTIFYING KEY INFORMATION AND AUTOMATICALLY ASSIGNING MEDICAL CODES FOR CONSISTENT REPORTING TO DRIVE THE ADOPTION OF NLP FOR REPORTING AND VISUALIZATION 147
TABLE 67 REPORTING AND VISUALIZATION: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 148
TABLE 68 REPORTING AND VISUALIZATION: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 148
10.5 PREDICTIVE RISK ANALYTICS 148
10.5.1 THE NEED TO GENERATE PATIENT RISK SCORES TO DETECT EARLY SIGNS OF PATIENT DETERIORATION AND IDENTIFY AT-RISK PATIENTS TO DRIVE THE ADOPTION OF NLP FOR PREDICTIVE RISK ANALYTICS 148
TABLE 69 PREDICTIVE RISK ANALYTICS: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 149
TABLE 70 PREDICTIVE RISK ANALYTICS: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 149
10.6 PATTERN AND IMAGE RECOGNITION 149
10.6.1 THE DEVELOPMENT OF ADVANCED TOOLS, SUCH AS COMPUTER VISION MODELS, TO ANALYZE IMAGES AND SPECIMENS TO DRIVE THE ADOPTION 149
TABLE 71 PATTERN AND IMAGE RECOGNITION: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 150
TABLE 72 PATTERN AND IMAGE RECOGNITION: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET SIZE, BY REGION, 2021–2026 (USD MILLION) 150
10.7 TEXT AND SPEECH ANALYTICS 150
10.7.1 NLP TEXT ANALYTICS ENABLES USERS TO TRANSFORM THE UNSTRUCTURED DATA, SUCH AS FREE-TEXT CLINICAL NOTES, INTO THE STRUCTURED DATA TO PROVIDE INSIGHTS 150
TABLE 73 TEXT AND SPEECH ANALYTICS: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 151
TABLE 74 TEXT AND SPEECH ANALYTICS: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 151
10.8 OTHER APPLICATIONS 152
TABLE 75 OTHER APPLICATIONS: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 152
TABLE 76 OTHER APPLICATIONS: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 153
11 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY END USER 154
11.1 INTRODUCTION 155
11.1.1 END USERS: COVID-19 IMPACT 155
FIGURE 46 NLP FOR RESEARCHERS SEGMENT TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 155
TABLE 77 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY END USER, 2017–2020 (USD MILLION) 156
TABLE 78 NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY END USER, 2021–2026 (USD MILLION) 156
11.2 NLP FOR PATIENTS 156
11.2.1 THE NEED TO REDUCE HESITATION OF PATIENTS TO COMMUNICATE THEIR HEALTH CONCERNS TO LEAD THE ADOPTION OF NLP FOR PATIENTS, ESPECIALLY CHATBOTS 156
TABLE 79 NLP FOR PATIENTS: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 157
TABLE 80 NLP FOR PATIENTS: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 157
11.3 NLP FOR PHYSICIANS 157
11.3.1 NLP SEES GROWING ADOPTION TO AUTOMATE BACK-END TASKS FOR PHYSICIANS, GIVING THEM MORE TIME TO ATTEND TO PATIENTS’ CONCERNS 157
TABLE 81 NLP FOR PHYSICIANS: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 158
TABLE 82 NLP FOR PHYSICIANS: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 158
11.4 NLP FOR RESEARCHERS 158
11.4.1 THE NEED TO OVERCOME THE BARRIER OF ANALYZING QUALITATIVE DATA AND REDUCE THE TIME REQUIRED FOR ANALYZING LARGE COLLECTIONS OF TEXT DATA TO DRIVE THE ADOPTION OF NLP FOR RESEARCHERS 158
TABLE 83 NLP FOR RESEARCHERS: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 159
TABLE 84 NLP FOR RESEARCHERS: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 159
11.5 NLP FOR CLINICAL OPERATORS 160
11.5.1 NLP ENABLES RENDERING OF UNSTRUCTURED RECORDS TO INCREASE AWARENESS RELATED TO EARLY SIGNS AND SYMPTOMS IN PATIENTS AND INTIMATE CLINICIANS LEADING TO THE ADOPTION OF NLP FOR CLINICAL OPERATIONS 160
TABLE 85 NLP FOR CLINICAL OPERATORS: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2017–2020 (USD MILLION) 160
TABLE 86 NLP FOR CLINICAL OPERATORS: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION, 2021–2026 (USD MILLION) 160
12 NATURAL LANGUAGE PROCESSING IN HEALTHCARE AND LIFE SCIENCES MARKET, BY REGION 161
12.1 INTRODUCTION 162
12.2 NORTH AMERICA 162
12.2.1 NORTH AMERICA: COVID-19 IMPACT 163
12.2.2 NORTH AMERICA: REGULATIONS 164
12.2.2.1 Gramm–Leach–Bliley Act 164
12.2.2.2 Federal Information Security Management Act 164
12.2.2.3 Federal Information Processing Standards 164
12.2.2.4 California Consumer Privacy Act (CSPA) 165
FIGURE 47 NORTH AMERICA: MARKET SNAPSHOT 165
FIGURE 48 ASIA PACIFIC SEGMENT TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 166
FIGURE 49 INDIA TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD 166
TABLE 87 NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY COMPONENT, 2017–2020 (USD MILLION) 166
TABLE 88 NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY COMPONENT, 2021–2026 (USD MILLION) 167
TABLE 89 NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY SOLUTION, 2017–2020 (USD MILLION) 167
TABLE 90 NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY SOLUTION, 2021–2026 (USD MILLION) 167
TABLE 91 NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY SERVICE, 2017–2020 (USD MILLION) 168
TABLE 92 NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY SERVICE, 2021–2026 (USD MILLION) 168
TABLE 93 NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY PROFESSIONAL SERVICE, 2017–2020 (USD MILLION) 168
TABLE 94 NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY PROFESSIONAL SERVICE, 2021–2026 (USD MILLION) 168
TABLE 95 NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY DEPLOYMENT MODE, 2017–2020 (USD MILLION) 169
TABLE 96 NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION) 169
TABLE 97 NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY ORGANIZATION SIZE, 2017–2020 (USD MILLION) 169
TABLE 98 NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION) 169
TABLE 99 NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY NLP TYPE, 2017–2020 (USD MILLION) 170
TABLE 100 NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY NLP TYPE, 2021–2026 (USD MILLION) 170
TABLE 101 NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY END USER, 2017–2020 (USD MILLION) 170
TABLE 102 NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY END USER, 2021–2026 (USD MILLION) 170
TABLE 103 NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY APPLICATION, 2017–2020 (USD MILLION) 171
TABLE 104 NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY APPLICATION, 2021–2026 (USD MILLION) 171
TABLE 105 NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY COUNTRY, 2017–2020 (USD MILLION) 171
TABLE 106 NORTH AMERICA: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY COUNTRY, 2021–2026 (USD MILLION) 172
12.2.3 UNITED STATES 172
12.2.3.1 Rapid adoption and use of innovative solutions to gain insights from clinical data driving market growth in the US 172
TABLE 107 UNITED STATES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY COMPONENT, 2017–2020 (USD MILLION) 173
TABLE 108 UNITED STATES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY COMPONENT, 2021–2026 (USD MILLION) 173
TABLE 109 UNITED STATES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY SOLUTION, 2017–2020 (USD MILLION) 173
TABLE 110 UNITED STATES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY SOLUTION, 2021–2026 (USD MILLION) 173
TABLE 111 UNITED STATES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY SERVICE, 2017–2020 (USD MILLION) 174
TABLE 112 UNITED STATES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY SERVICE, 2021–2026 (USD MILLION) 174
TABLE 113 UNITED STATES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY PROFESSIONAL SERVICE, 2017–2020 (USD MILLION) 174
TABLE 114 UNITED STATES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY PROFESSIONAL SERVICE, 2021–2026 (USD MILLION) 174
TABLE 115 UNITED STATES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY DEPLOYMENT MODE, 2017–2020 (USD MILLION) 175
TABLE 116 UNITED STATES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY DEPLOYMENT MODE, 2021–2026 (USD MILLION) 175
TABLE 117 UNITED STATES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY ORGANIZATION SIZE, 2017–2020 (USD MILLION) 175
TABLE 118 UNITED STATES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY ORGANIZATION SIZE, 2021–2026 (USD MILLION) 175
TABLE 119 UNITED STATES: NLP IN HEALTHCARE AND LIFE SCIENCES MARKET, BY NLP TYPE, 2017–2020 (USD MILLION) 176
TABLE 120 UNITED STATES: NLP IN H