The global healthcare cognitive computing market is estimated to be USD 10.81 billion in 2024 and is predicted to reach USD 150.25 billion by 2035, with a CAGR of 27.03% during the forecast period 2025-2035. The healthcare cognitive computing market is thriving due to several factors such as the widespread use of cloud services, the increasing number of chronic diseases, and the growing need to analyze vast amounts of patient data using cognitive computing and big data techniques.
The rapid evolution of artificial intelligence (AI) and machine learning (ML) technologies is driving significant innovation in the healthcare industry. These advancements are enabling the development of sophisticated AI-powered medical diagnostic solutions. For instance, in June 2024, NVIDIA Corporation declared that NVIDIA AI Enterprise-IGX with NVIDIA Holoscan would be available on the NVIDIA IGTX platform. Companies like Medtronic and Barco are utilizing this potent mix to provide state-of-the-art AI-driven medical diagnostic solutions.
By deployment, the cloud segment accounted for the highest revenue-grossing segment in the global healthcare cognitive computing market in 2024 owing to the increased flexibility, scalability, and cost-effectiveness it offers. For instance, in September 2024, Modern Healthcare and Waystar Holding Corp., a leading provider of healthcare payment software, revealed fresh research demonstrating how artificial intelligence (AI) is revolutionizing healthcare payments. The study shows how AI - including generative AI - effectively tackles significant issues facing the healthcare sector, leading to appreciable gains in operational and financial results. Additionally, the on-premise segment is predicted to grow at the fastest CAGR during the forecast period owing to the stringent data privacy and security regulations in healthcare.
By technology, the natural language processing (NLP) segment accounted for the highest revenue-grossing segment in the global healthcare cognitive computing market in 2024 owing to the ability to process and understand large volumes of unstructured clinical data. For instance, Medtronic announced in December 2023 that it had reached an agreement to expand its relationship with Cosmo Pharmaceuticals' Cosmo Intelligent Medical Devices. Using AI technologies, the collaboration contributed to the transformation of endoscopy. The partnership focused on employing platforms such as AI Access, designed to host several third-party applications, to speed up medical AI processes. Additionally, the machine learning segment is predicted to grow at the fastest CAGR during the forecast period owing to its ability to improve diagnostic accuracy, predict patient outcomes, and support personalized medicine through advanced predictive analytics.
By end-user, the hospital's segment accounted for the highest revenue-grossing segment in the global healthcare cognitive computing market in 2024 owing to the increased adoption of cognitive computing solutions to optimize clinical workflows, reduce operational costs, and enhance patient care quality. For instance, in December 2023, ArisGlobal, a market leader in Life Sciences technology and the developer of LifeSphere®, today introduced LifeSphere NavaX, a state-of-the-art cognitive computing engine that uses cutting-edge technologies like Generative AI (Gen AI) and Large Language Models (LLM) to speed up R&D IT Digitization. Additionally, the pharmaceutical and biotechnology company segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising focus on drug discovery and development, where cognitive computing aids in identifying potential drug candidates and accelerating clinical trial processes.
North American region is anticipated to have the highest revenue share during the forecast period owing to the presence of advanced healthcare infrastructure, high adoption of cognitive computing technologies, significant R&D investments, and the presence of major market players driving innovation in the healthcare sector. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the rapidly improving healthcare infrastructure, increasing adoption of digital health technologies, rising demand for AI-driven solutions in emerging economies like India and China, and supportive government initiatives promoting healthcare digitization. For instance, CodaMetrix and GE HealthCare signed a strategic distribution partnership in November 2023 to offer CMX AutomateTM, a cloud-based autonomous coding solution, to GE HealthCare clients. Through this collaboration, GE HealthCare clients will be able to quickly take advantage of CodaMetrix's CMX Automate solution, which enhances coding quality and productivity by using autonomous medical coding powered by artificial intelligence (AI). KLAS Research has ranked CMX Automate as the top option in the "Reduce Cost of Care" category.
This comprehensive research report focuses on the global and regional market size and forecasts from 2024 to 2035.
The rapid evolution of artificial intelligence (AI) and machine learning (ML) technologies is driving significant innovation in the healthcare industry. These advancements are enabling the development of sophisticated AI-powered medical diagnostic solutions. For instance, in June 2024, NVIDIA Corporation declared that NVIDIA AI Enterprise-IGX with NVIDIA Holoscan would be available on the NVIDIA IGTX platform. Companies like Medtronic and Barco are utilizing this potent mix to provide state-of-the-art AI-driven medical diagnostic solutions.
By deployment, the cloud segment accounted for the highest revenue-grossing segment in the global healthcare cognitive computing market in 2024 owing to the increased flexibility, scalability, and cost-effectiveness it offers. For instance, in September 2024, Modern Healthcare and Waystar Holding Corp., a leading provider of healthcare payment software, revealed fresh research demonstrating how artificial intelligence (AI) is revolutionizing healthcare payments. The study shows how AI - including generative AI - effectively tackles significant issues facing the healthcare sector, leading to appreciable gains in operational and financial results. Additionally, the on-premise segment is predicted to grow at the fastest CAGR during the forecast period owing to the stringent data privacy and security regulations in healthcare.
By technology, the natural language processing (NLP) segment accounted for the highest revenue-grossing segment in the global healthcare cognitive computing market in 2024 owing to the ability to process and understand large volumes of unstructured clinical data. For instance, Medtronic announced in December 2023 that it had reached an agreement to expand its relationship with Cosmo Pharmaceuticals' Cosmo Intelligent Medical Devices. Using AI technologies, the collaboration contributed to the transformation of endoscopy. The partnership focused on employing platforms such as AI Access, designed to host several third-party applications, to speed up medical AI processes. Additionally, the machine learning segment is predicted to grow at the fastest CAGR during the forecast period owing to its ability to improve diagnostic accuracy, predict patient outcomes, and support personalized medicine through advanced predictive analytics.
By end-user, the hospital's segment accounted for the highest revenue-grossing segment in the global healthcare cognitive computing market in 2024 owing to the increased adoption of cognitive computing solutions to optimize clinical workflows, reduce operational costs, and enhance patient care quality. For instance, in December 2023, ArisGlobal, a market leader in Life Sciences technology and the developer of LifeSphere®, today introduced LifeSphere NavaX, a state-of-the-art cognitive computing engine that uses cutting-edge technologies like Generative AI (Gen AI) and Large Language Models (LLM) to speed up R&D IT Digitization. Additionally, the pharmaceutical and biotechnology company segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising focus on drug discovery and development, where cognitive computing aids in identifying potential drug candidates and accelerating clinical trial processes.
North American region is anticipated to have the highest revenue share during the forecast period owing to the presence of advanced healthcare infrastructure, high adoption of cognitive computing technologies, significant R&D investments, and the presence of major market players driving innovation in the healthcare sector. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the rapidly improving healthcare infrastructure, increasing adoption of digital health technologies, rising demand for AI-driven solutions in emerging economies like India and China, and supportive government initiatives promoting healthcare digitization. For instance, CodaMetrix and GE HealthCare signed a strategic distribution partnership in November 2023 to offer CMX AutomateTM, a cloud-based autonomous coding solution, to GE HealthCare clients. Through this collaboration, GE HealthCare clients will be able to quickly take advantage of CodaMetrix's CMX Automate solution, which enhances coding quality and productivity by using autonomous medical coding powered by artificial intelligence (AI). KLAS Research has ranked CMX Automate as the top option in the "Reduce Cost of Care" category.
This comprehensive research report focuses on the global and regional market size and forecasts from 2024 to 2035.
Report Scope:
- Base Year: 2024
- Forecast Period: 2025-2035
- Study Coverage
- Market Forecast by deployment, technology, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement.
Segmentation: Healthcare Cognitive Computing Market Report 2024 - 2035
Healthcare Cognitive Computing Market Analysis & Forecast by Deployment 2024 - 2035 (Revenue USD Bn)
- Cloud
- On-Premise
Healthcare Cognitive Computing Market Analysis & Forecast by Technology 2024 - 2035 (Revenue USD Bn)
- Natural Language Processing
- Machine Learning
- Automated Reasoning
- Information Retrieval
Healthcare Cognitive Computing Market Analysis & Forecast by End-User 2024 - 2035 (Revenue USD Bn)
- Hospitals
- Pharmaceutical and Biotechnology Companies
- Medical Research Institutions
- Others
Healthcare Cognitive Computing Market Analysis & Forecast by Region 2024 - 2035 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Healthcare Cognitive Computing Market: Deployment Estimates & Trend Analysis
8. Healthcare Cognitive Computing Market: Technology Estimates & Trend Analysis
9. Healthcare Cognitive Computing Market: End-User Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Healthcare Cognitive Computing Market
12. Europe Global Healthcare Cognitive Computing Market
13. Asia Pacific Global Healthcare Cognitive Computing Market
14. Latin America Global Healthcare Cognitive Computing Market
15. MEA Global Healthcare Cognitive Computing Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- IBM Watson Health
- Google Health
- Microsoft Healthcare
- CureMetrix
- Medtronic
- Philips Healthcare
- Siemens Healthineers
- GE Healthcare
- Qure.ai
- Infervision
- Health Catalyst
- Nuance Communications
- Babylon Health
- Ping An Healthcare and Technology
- Butterfly Network
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | December 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 10.81 Billion |
| Forecasted Market Value ( USD | $ 150.25 Billion |
| Compound Annual Growth Rate | 27.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
