Natural Language Processing For Healthcare & Life Science Market 2018, Market Demand, Market Growth, Forecast to 2023

North America is said to be the largest adopter of NLP in the healthcare and life science market.

HYDERABAD, TELANGANA, INDIA, September 17, 2018 /EINPresswire.com/ — Natural Language Processing (NLP) is a sub segment of Artificial Intelligence (AI). The technologies used in NLP for the healthcare and life science market is segmented based on speech, text and image patterns. North America is said to be the largest adopter of NLP in the healthcare and life science market.
NLP basically works as a bridge between machines and human. The NLP technologies can effectively analyze large amount of clinical data. The need to maintain the large amount of unstructured clinical data which are available in the form of Electronic Health Records (EHR) and the emergence of Internet of Things (IoT) in healthcare sectors are the driving factors for the growth of NLP in healthcare and life science market.
The market has a number of NLP solutions available for the health care and life science sectors, but the solutions are not completely standardized. For example, the voice based NLP has two challenges, such as difficulty in understanding the complex accent of a speaker and the use of correct intonations. In order to analyze the data regarding life sciences, we need to use technologies that are superior to NPL. Life science use terms related to ontology and others which cannot be defined or analyzed using current analytical tools.
The need for better NPL technologies and platforms has given opportunities to various software companies, especially startup companies which are coming forward with various innovations.

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NarrativeDX is an Austin based startup organization. The company uses natural language processing and machine learning software to help hospitals in analyzing their patients’ feedback, which in return helps them in improving or preventing the problems related to their experience. The company has raised a funding of $1.1 million in an equity financing. The company will use this fund in improving its Hospital-Improvement AI tool.
Suki is an AI enabled healthcare startup. The company has raised a funding of $15 million which was supported by Venrock. It also included other investors such as First Round Capital, Social Capital. The company will use these funds to grow its virtual assistant that will help doctors in logging events and record EHR data using natural language processing.

Cloudera is a US based software company. The company has joined hands with MetiStream and developed a new healthcare analytical solution called Ember. This analytical solution can be deployed using cloud and SaaS technologies. Ember’s automated natural language processing will be used to segregate structured data from unstructured clinical data. Ember is also compatible with both web and mobile devices, enhancing the interaction between healthcare providers and patients.

Secure Exchange Solutions (SES) is a US based organization which deals with secure exchange of health information. The company has selected Linguamatics, a leading provider in natural language processing and text analytics for its SES SPOT platform. The combined solution of Linguamatics NLP and SES SPOT will help in extracting information which includes both coded and text data of an electronic medical record. It also helps in comparing the extracted data with guidelines.

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The future of Natural Language Processing (NLP) for healthcare and life sciences will have a decent growth. The implementation of AI in NPL healthcare technologies and the emergence of various AI enabled startup organization will help the market to grow. Using AI in automatic capturing image helps in gaining a better understanding of images related to healthcare, thus promising a decent growth of the healthcare and life science market.

Natural Language Processing for Healthcare and Life Sciences Market is segmented as indicated below:
1. Natural Language Processing For Healthcare & Life Science Market -By Types
1.1. Rule-based
1.2. Statistical
1.3. Hybrids
1.4. Learned

2. Natural Language Processing For Healthcare & Life Science Market – By Deployment
2.1. On-premises
2.2. Cloud

3. Natural Language Processing For Healthcare & Life Science Market- By Service type
3.1. Managed Services
3.2. Professional Service

4. Natural Language Processing For Healthcare & Life Science Market – By Technology
4.1. Speech Recognition
4.2. Cognitive Analytics
4.3. Text Mining
4.4. Advanced Text Analytics
4.5. Imaging Analytics
4.6. Others

5. Natural Language Processing For Healthcare & Life Science Market- By Solutions
5.1. Clinical Variation Management
5.2. Denials
5.3. Population Health Management
5.4. Counter Fraud Management
5.5. Risk Adjustment
5.6. Others

6. Natural Language Processing for Healthcare & Life Sciences Market – By Market Entropy
7. Natural Language Processing for Healthcare & Life Science Market – By Geography

Companies Cited / Interviewed / Referenced
Suki
Linguamatics
3M
NarrativeDX
Cloudera
SAS
IBM
Clinithink
Mmodal
Microsoft
Apixio
Company 20+

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What can you expect from the report?
The Natural Language Processing for Healthcare & Life Science Market Report is Prepared with the Main Agenda to Cover the following 20 points:

1. Market Size by Product Categories
2. Market trends
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Demand Analysis ( By Revenue & Volume )
12. Country level Analysis (15+)
13. Competitor Analysis
14. Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Strategic Analysis
18. Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Revenue and Volume Analysis

Frequently Asked Questions:

Q. Does IndustryARC publish country, or application based reports in Natural Language Processing For Healthcare & Life Science Market?
Response: Yes, we do have separate reports and database as mentioned below:

1. North America Natural Language Processing for Healthcare & Life Science Market (2018-2023)
2. South America Natural Language Processing for Healthcare & Life Science Market (2018-2023)
3. Europe Natural Language Processing for Healthcare & Life Science Market (2018-2023)
4. Asia Pacific Natural Language Processing for Healthcare & Life Science Market (2018-2023)
5. Middle East and Africa Natural Language Processing for Healthcare & Life Science Market (2018-2023)
6. Statistical Natural Language Processing for Healthcare & Life Science Market (2018-2023)
7. Cloud Based Natural Language Processing for Healthcare & Life Science Market (2018-2023)
8. Text Mining in Natural Language Processing for Healthcare & Life Science Market (2018-2023)

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Source: EIN Presswire