Pramod Kumar

1 year ago · 1 min. reading time · 0 ·

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What are Factors Driving Advancement of Asia-Pacific (APAC) Healthcare Cognitive Computing Market?

What are Factors Driving Advancement of Asia-Pacific (APAC) Healthcare Cognitive Computing Market?

The global healthcare cognitive computing market is predicted to demonstrate unprecedented growth in the forthcoming years. The main factors propelling the advancement of the market are the increasing prevalence of chronic diseases, growing adoption of cognitive computing in the healthcare industry on account of rapid technological advancements, increasing integration of various third computing platforms, and the mushrooming popularity of the natural language processing (NLP) technology, due to its ability to bridge the gap in human-machine interaction, across the world.

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Cognitive Computing
Market to reach
$13.3 Billion

In recent times, the integration of cognitive computing solutions has increased tremendously in various hospitals in North America and Europe. For example, Alder Hey Children’s Hospital and Roald Dahl Foundation, incorporated cognitive computing in their patient solutions in May 2016. The other major factor causing the surge of the market is the increasing popularity of third computing platforms in the healthcare industry. These platforms not only facilitate the management of a large volume of medical data but they also allow the retention of clinical outcomes related information.

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Based on technology, the healthcare cognitive computing market is divided into machine learning, natural language processing (NLP), information retrieval, and automated reasoning categories. Out of these, the NLP category is predicted to demonstrate the fastest growth in the market in the future years. This is ascribed to the fact that the NLP technology can conduct a thorough evaluation that leads to the better management of patient data and feedback, which, in turn, allows the medical practitioners to make evidence-based decisions and quickly respond to patient problems.

This study covers

• Major factors driving the market and their impact during the short, medium, and long terms

• Market restraints and their impact during the short, medium, and long terms

• Recent trends and evolving opportunities for the market participants

• Historical and the present size of the market segments and understand their comparative future potential

• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

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