Research Nester released a report titled “: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global healthcare cognitive computing market in terms of market segmentation by technology, deployment model, end-use, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The healthcare cognitive computing market is projected to grow with a moderate CAGR during the forecast period, i.e., 2022-2030 on account of the increasing investments and funding by the government authorities in the healthcare sector, along with investment in the R&D sector. Additionally, increasing burden of chronic diseases, such as cancer, diabetes, cardiovascular diseases, is estimated to boost the market growth. According to the data from the American Heart Association, in 2017, 0.86 million deaths occurred in the United States due to cardiovascular diseases (CVDs), and it has been listed as one of the underlying causes of death in the region.

In 2018, across the United States, coronary heart disease accounted for 42.1% of total CVD caused deaths, followed by 17% by stroke, and 11% by high blood pressure.

The market is segmented by technology into natural language processing, machine learning, automated reasoning, and others. Among these segments, the natural language processing segment is expected to hold the major share in the healthcare cognitive computing market as a result of the growing adoption of cloud-based solutions and smart devices to monitor health issues.

Other the other hand, machine learning segment is also expected to show significant growth rate by the end of 2030, owing to the increasing advancement in technologies.

On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the healthcare cognitive computing market in the Asia Pacific is expected to grow at the highest CAGR in the forecast period owing to the growing healthcare expenditure and rising geriatric population.

Presently, the market in North America holds the largest share in terms of revenue. This can be credited to the growth of the pharmaceutical companies, particularly in the United States, who are continuously involved in investing in the medical research and development activities.

Increasing Prevalence of Chronic Diseases to Drive Market Growth

According to the data by World Health Organization (WHO), it is reported that in 2020, 73% of all deaths attributed to chronic diseases mainly occurring in the developing countries. Cancer caused 10 million deaths in 2020.

The increase in the prevalence of chronic diseases, backed by rising elderly population, and the need for personalized medicines are anticipated to boost the market growth over the years. Moreover, the raise in clinical trials and drug discoveries for complex healthcare procedures have created a significant demand for data assimilation and advanced data analytics, which is expected to boost the market growth. Furthermore, the increase in demand for cloud-based healthcare applications is another major factor for the rapid adoption of cognitive technologies in the healthcare industry.

This report also provides the existing competitive scenario of some of the key players of the global healthcare cognitive computing market which includes company profiling of Saffron Technology, Inc., Nuance Communications, Inc., Google LLC, Microsoft Corporation, Apixio, Inc., Apple Inc., Healthcare X.0 GmbH, Palantir Technologies, IBM Corporation, and Medwhat.com, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.

On the whole, the report depicts detailed overview of the global healthcare cognitive computing market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, currently market players are penetrating possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future globally.

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