LAMEA NLP in Healthcare and Life Sciences Market Size, Share & Industry Trends Analysis Report By Component, By Solution Type, By End User, By NLP Type, By Deployment Mode, By Organization Size, By Application, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa NLP in Healthcare and Life Sciences Market would witness market growth of 27.2% CAGR during the forecast period (2022-2028).
Natural language processing is gaining popularity in healthcare due to its ability to search, evaluate, and understand massive amounts of patient data. Machine learning in healthcare and NLP technology services offers the ability to extract meaningful insights and concepts from data that was previously thought to be buried in text form using advanced medical algorithms. In the healthcare media, NLP can effectively give voice to the unstructured data of the universe, providing great insight into understanding quality, refining techniques, and improving patient outcomes.
Physicians spend plenty of time in their chart notes explaining how and why things are happening to their patients. These notes are difficult to extract in a form that allows a machine to assess the data. When the doctor sits down with their patient and notes each encounter in a case note, those narratives are saved as free text in electronic health record systems (EHRs).
Artificial intelligence systems utilized in healthcare are specially adapted to the difficulty of providing healthcare to remote and under-resourced locations due to their nature. As a result, several programs have been implemented across Africa in an attempt to particularly address these issues. Despite the fact that AI systems may offer immense potential for Africa's future, the reality is that the NLP in the healthcare and life sciences market is in its nascent stage in the region. However, this gives rise to massive opportunities for NLP companies to invest and find a market in the region. A few African countries have already embraced and pushed artificial intelligence deployment in healthcare. South Africa, Ghana, Kenya, Nigeria, and Ethiopia are among these countries.
The Brazil market dominated the LAMEA NLP in Healthcare and Life Sciences Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $152.1 million by 2028. The Argentina market is anticipated to grow at a CAGR of 27.8% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 26.8% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Solution Type, the market is segmented into Clinical Variation Management, Population Health Management, Counter Fraud Management, and Others. Based on End User, the market is segmented into NLP for Physician, NLP for Patients, NLP for Researchers, and NLP for Clinical Operators. Based on NLP Type, the market is segmented into Rule-based, Statistical, and Hybrid. Based on Deployment Mode, the market is segmented into Cloud and On-premise. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). Based on Application, the market is segmented into IVR, Summarization & Categorization, Reporting & Visualization, Pattern & Image Recognition, Text & Speech Analytics, Predictive Risk Analytics, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 3M Company, IBM Corporation, Microsoft Corporation, Google LLC, Amazon Web Services, Inc., Cerner Corporation, Corti ApS, Lexalytics, Inc., Health Fidelity, Inc., and Linguamatics.
Scope of the Study
Market Segments Covered in the Report:
- Clinical Variation Management
- Population Health Management
- Counter Fraud Management
By End User
- NLP for Physician
- NLP for Patients
- NLP for Researchers
- NLP for Clinical Operators
By NLP Type
By Deployment Mode
By Organization Size
- Large Enterprises
- Small & Medium Enterprises (SMEs)
- Summarization & Categorization
- Reporting & Visualization
- Pattern & Image Recognition
- Text & Speech Analytics
- Predictive Risk Analytics
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- 3M Company
- IBM Corporation
- Microsoft Corporation
- Google LLC
- Amazon Web Services, Inc.
- Cerner Corporation
- Corti ApS
- Lexalytics, Inc.
- Health Fidelity, Inc.
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