PUBLISHER: The Business Research Company | PRODUCT CODE: 1670333
PUBLISHER: The Business Research Company | PRODUCT CODE: 1670333
Natural Language Processing (NLP) in healthcare and life sciences is a domain of Artificial Intelligence (AI) focused on enabling machines to understand and communicate using human language. This technology is employed to identify data patterns and execute automated tasks within the healthcare and life sciences sectors.
NLP in healthcare and life sciences encompasses various types, including rule-based NLP, statistical NLP, and hybrid NLP. Rule-based NLP, also referred to as rule-based natural language processing, involves processing and comprehending human language through pre-established rules and patterns. The components of NLP include solutions and services catering to both large enterprises and small to midsize enterprises (SMEs). Applications of NLP in this context span sentiment analysis, drug discovery, clinical trial matching, risk and compliance management, dictation and EMR implication, automated registry reporting, AI chatbots and virtual scribe, among others. These applications find utility in sectors such as public health and government agencies, medical devices, healthcare insurance, pharmaceuticals, and more.
The NLP in healthcare and life sciences market research report is one of a series of new reports from The Business Research Company that provides NLP in healthcare and life sciences market statistics, including NLP in healthcare and life sciences industry global market size, regional shares, competitors with a NLP in healthcare and life sciences market share, detailed NLP in healthcare and life sciences market segments, market trends and opportunities, and any further data you may need to thrive in the NLP in healthcare and life sciences industry. This NLP in healthcare and life sciences market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The natural language processing (NLP) in healthcare and life sciences market size has grown exponentially in recent years. It will grow from $3.07 billion in 2024 to $3.72 billion in 2025 at a compound annual growth rate (CAGR) of 21.1%. The growth in the historic period can be attributed to electronic health records (EHR) adoption, clinical documentation improvement, medical literature mining, demand for clinical decision support, rising healthcare costs
The natural language processing (NLP) in healthcare and life sciences market size is expected to see exponential growth in the next few years. It will grow to $8.84 billion in 2029 at a compound annual growth rate (CAGR) of 24.2%. The growth in the forecast period can be attributed to ai-driven personalized medicine, expanding telemedicine, regulatory compliance and coding, genomics and precision medicine, healthcare data interoperability. Major trends in the forecast period include conversational ai in patient care, semantic search and knowledge graphs, ethical NLP use, real-time clinical NLP, narrative data processing.
The growing adoption of digital technology in the healthcare sector is driving the expansion of natural language processing (NLP) in the healthcare and life sciences market. Digital technology in healthcare involves the use of information and communication technologies in medicine and related fields to treat patients, mitigate health risks, and promote wellness. NLP serves as a digital healthcare technology that analyzes unstructured data to extract valuable medical insights. For example, in December 2022, a press release from GOV.UK, a UK-based government services and information site, stated that over 7 million new users registered for the NHS App in 2022, bringing total registrations to over 30 million. The government exceeded its target of having 68% of England's population registered by March 2023 and is on track to achieve 75% by 2024. Therefore, the increasing adoption of digital technology in the healthcare industry is expected to drive the growth of NLP in the healthcare and life sciences market.
The increasing demand for personalized medicine is driving the growth of natural language processing (NLP) in the healthcare and life sciences market. Personalized medicine customizes medical treatment to an individual's unique characteristics, such as genetic makeup or lifestyle, leading to more effective and precise healthcare outcomes. Utilizing NLP in the healthcare and life sciences market allows for the extraction and analysis of large volumes of patient data, which supports the rising demand for personalized medicine by providing insights into individualized health profiles and treatment strategies. For example, in February 2024, the Personalized Medicine Coalition, a U.S.-based nonprofit organization, reported that the FDA approved 16 new personalized treatments for rare disease patients in 2023, a notable increase from the 6 personalized treatments approved in 2022. Therefore, the growing demand for personalized medicine is expected to drive the growth of NLP in the healthcare and life sciences market.
Technological advancements are a significant trend gaining traction in the NLP in the healthcare and life sciences market. Major companies in this sector are focusing their efforts on developing innovative technologies to improve data analysis and patient care. For example, in June 2022, John Snow Labs, a U.S.-based healthcare AI company, launched Spark NLP 4.0, which introduced question-answering annotators and offered hundreds of pre-trained models based on BERT, ALBERT, DeBERTa, RoBERTa, DistilBERT, Longformer, and XLM-RoBERTa. These models support multiple languages, document types, and performance goals, thereby enhancing the capabilities of NLP in healthcare and life sciences.
Companies at the forefront of the NLP in the healthcare and life sciences market are also directing their focus towards impactful product launches, such as the Generative AI-Powered Service. This service is designed to autonomously generate preliminary clinical documentation from patient-clinician conversations using generative AI technology. Amazon Web Services (AWS), a leading US-based provider of cloud computing services, introduced AWS HealthScribe in July 2023 as a prime example of this technology. AWS HealthScribe utilizes speech recognition and generative AI to automatically identify speaker roles, classify dialogues, extract medical terms, and generate comprehensive preliminary clinical transcripts. By streamlining documentation processes, this service enhances the efficiency of NLP applications in the healthcare and life sciences market. With its HIPAA-compliant automation of clinical documentation, AWS HealthScribe not only reduces documentation time for healthcare professionals but also elevates the overall quality of healthcare services through improved workflow efficiency and patient engagement.
In July 2022, ClaimLogiq, a US-based healthcare technology company specializing in payment integrity, successfully acquired SyTrue Inc. for an undisclosed amount. This strategic acquisition integrates SyTrue's NLP technology solution with ClaimLogiq's payment integrity platform, transforming how health plans address payment integrity, risk adjustment, and data management. SyTrue Inc., a US-based provider of healthcare natural language processing technology, brings valuable expertise to this collaborative effort.
Major companies operating in the natural language processing (NLP) in healthcare and life sciences market include Google LLC, Microsoft Corporation, Optum Inc., Amazon Web Services Inc., International Business Machines Corporation, 3M Company, IQVIA Holdings Inc., Cerner Corporation, Inovalon Holdings Inc., NextGen Healthcare Inc., Welltok Inc., SparkCognition Inc., HealthFusion Inc., Syapse Inc., Apixio Inc., Conversica Inc., Infermedica, Rasa Technologies, Health Fidelity Inc., Linguamatics Ltd., Dolbey Systems Inc., SparkBeyond, Lexalytics Inc., Clinithink Ltd., Semedy AG, Sentient Technologies LLC, Zyla Health, Anumana Inc., Heath Fidelity Inc., Averbis GmbH
North America was the largest region in the NLP in healthcare and life sciences market in 2024. The regions covered in the natural language processing (nlp) in healthcare and life sciences market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the natural language processing (nlp) in healthcare and life sciences market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The NLP in healthcare and life sciences market consists of revenues earned by entities by providing information extraction, streamline workflows, improve predictive analytics, and clinical decision support. The market value includes the value of related goods sold by the service provider or included within the service offering. The NLP in healthcare and life sciences market also includes sales of medical coder and EHRs (electronic health records). Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Natural Language Processing (NLP) In Healthcare And Life Sciences Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on natural language processing (nlp) in healthcare and life sciences market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for natural language processing (nlp) in healthcare and life sciences ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The natural language processing (nlp) in healthcare and life sciences market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.