Cognitive computing has opened vast
promising avenues in the healthcare industry in recent times and is
rapidly transforming healthcare delivery world over. Cognitive computing
systems simulate human thought process using computerized model.
Worldwide, these have been instrumental in making sense of the extensive
streams of healthcare data that is growing unhindered. Healthcare
professionals and providers in various parts of the world are
increasingly adopting cognitive systems to make faster and more informed
decision, boost patient outcomes, and improve the overall quality of
care.
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The accelerated rise of cloud computing
and Big Data, has made cognitive computing more affordable and
accessible to various end-use industries at large, including the
healthcare sector. Together with natural language processing (NLP)
systems, data mining, and other aspects of machine learning
technologies, cognitive computing continually seeks to expand the
knowledge of clinicians in designing personalized treatment modules.
On the other hand, cognitive computing
has enhanced patient engagement and improved the access of services.
Researchers are leveraging the potential of cognitive systems to make
clinical trials more comprehensive and useful, unlocking abundant
exciting prospects in the healthcare industry.
The exponential rise in healthcare data
and information from a diverse range of sources and the pressing need to
tap them for improving the quality of care in various parts of the
world is a prominent factor stoking the demand for cognitive computing
systems. The growing demand for automated information technology systems
encapsulating various aspects of artificial intelligence in the
healthcare industry is fortifying the application of cognitive
computing.
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The growing number of potential
benefits and the rising use cases in the healthcare sector are prominent
factors continually boosting the market over the forecast period.
World over, the intensifying demand for
personalized therapies in various branch of medicines, notably in
oncology has triggered the popularity of a number of cognitive computing
platforms in recent years. The wide popularity of IBM Watson and
Cognitive Services by Microsoft among healthcare providers is
accentuating the growth of the market. Leveraging the potential of
self-learning systems to look for patterns and model possible solutions
in understanding health and wellness is a notable aspect bolstering the
uptake of cognitive systems in major regions.
The growing popularity of internet of
things (IoT) and wearable and the staggering demand for cloud computing
models are significant factors expected to provide substantial fillip to
the cognitive computing in healthcare market. The emergence of
potentially useful enterprise artificial intelligence platforms in the
healthcare industry bodes well for the market.
North America is one of the most prominent markets for cognitive computing for the healthcare industry.
The prominent demand for cognitive computing solutions and services in
the region can be attributed to the extensive demand for such systems
among healthcare professionals and providers. A large number of early
takers, coupled with substantial advancements in machine learning
technologies in the region, is bolstering the uptake. Meanwhile, Asia
Pacific is projected to rise at a prominent pace. The attractive growth
of the market is fueled by the spiraling investment made in the
healthcare sector on the uptake of automated information technology
systems. The region is expected to present abundant lucrative
opportunities market players over the coming years.