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The Worldwide Healthcare Data Collection and Labeling Industry is Expected to Reach $4.5 Billion by 2030

·5-min read
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Global Healthcare Data Collection and Labeling Market

Global Healthcare Data Collection and Labeling Market
Global Healthcare Data Collection and Labeling Market

Dublin, May 30, 2022 (GLOBE NEWSWIRE) -- The "Healthcare Data Collection and Labeling Market Size, Share & Trends Analysis Report by Data Type (Image/Video, Audio, Text), by Region (North America, Europe, APAC, LATAM, MEA), and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.

The global healthcare data collection and labeling market size is expected to reach USD 4.5 billion by 2030. It is expected to expand at a CAGR of 26.9% from 2022 to 2030. The market is driven by the increased adoption of artificial intelligence and machine learning across the globe. The demand for data labeling is rising due to technological advancements in the industry. Many hospitals and private medical institutions are outsourcing data labeling services for better disease management.

Medical institutions are increasingly using medical data such as videos, images, and patient reports for early and accurate diagnosis of diseases. Medical image labeling provides better diagnosis, prevention, and treatment of diseases than the traditional method of diagnosis.

It delivers corresponding results with higher accuracy in the early detection of diseases. It would prove to be one of the powerful methods for future applications in healthcare.

Imaging techniques were extensively used for the diagnosis of COVID-19 during the initial stage. Data collection is crucial for the training of artificial intelligence (AI) algorithms. In association with machine learning, medical imaging diagnostic procedures and AI algorithms have progressed in the recognition of patterns related to disease detection.

There was a shortage of medical professionals all over the world at the beginning of the pandemic. Many developed nations opted for AI-assisted solutions to tackle the problem. AI-based data collection and labeling technologies have proved to be useful.

Healthcare Data Collection and Labeling Market Report Highlights

  • Based on data type, the image/video segment held the largest revenue share in 2021 as it is majorly used in medical diagnosis and artificial intelligence requires labeled data for training the algorithms.

  • The text data type segment is anticipated to expand at a CAGR of 29.1% from 2022 to 2030 as the collection of clinical data, particularly unstructured text documents, has become one of the most significant resources for clinical labeling.

  • In 2021, North America dominated the market in terms of revenue owing to the increased adoption of artificial intelligence in the healthcare industry.

  • Asia Pacific is likely to expand at the fastest CAGR of 28.4% from 2022 to 2030. This growth is attributed to the increased use of medical imaging in the healthcare industry in China, India, and Japan.

Key Topics Covered:

Chapter 1 Report Scope and Objectives

Chapter 2 Methodology

Chapter 3 Executive Summary

Chapter 4 Market Variables, Trends & Scope
4.1 Market Lineage Outlook
4.1.1 Parent Market Outlook
4.2 Healthcare Data Collection and Labeling Market Dynamics
4.2.1 Market Driver Analysis
4.2.2 Market Restraint Analysis
4.3 Healthcare Data Collection and Labeling Market: Business Environment Analysis Tools
4.3.1 PORTER'S FIVE FORCES ANALYSIS
4.3.1.1 Threat of new entrants
4.3.1.2 Bargaining power of suppliers
4.3.1.3 Bargaining power of buyers
4.3.1.4 Competitive rivalry
4.3.1.5 Threat of substitutes
4.3.2 PESTEL Analysis
4.3.2.1 Political & Legal
4.3.2.2 Economic & Social
4.3.2.3 Technological
4.4 Penetration & Growth Prospect Mapping
4.5 Technology Trend Analysis
4.6 Regulatory Framework
4.7 Impact of COVID-19 on Healthcare Data Collection and Labeling Market

Chapter 5 Healthcare Data Collection and Labeling Market: Data Type Analysis
5.1 Healthcare Data Collection and Labeling Market Data Type Market Share Analysis, 2021 & 2030
5.2 Healthcare Data Collection and Labeling Market Data Type Market: Segment Dashboard
5.3 Market Size & Forecasts and Trend Analyses, 2017 to 2030 for the Data Type Segment
5.3.1 Image/Video
5.3.1.1 Image/video market, 2017-2030 (USD Million)
5.3.2 Audio
5.3.2.1 Audio market, 2017-2030 (USD Million)
5.3.3 Text
5.3.3.1 Text market, 2017-2030 (USD Million)
5.3.4 Others
5.3.4.1 Others market, 2017-2030 (USD Million)

Chapter 6 Healthcare Data Collection and Labeling Market: Regional Analysis

Chapter 7 Competitive Analysis
7.1 Recent Developments & Impact Analysis, by Key Market Participants
7.2 Company Profiles
7.2.1 Appen Limited
7.2.1.1 Company overview
7.2.1.2 Product benchmarking
7.2.1.3 Strategic initiatives
7.2.2 Shaip
7.2.2.1 Company overview
7.2.2.2 Product benchmarking
7.2.2.3 Strategic initiatives
7.2.3 Cogito Tech LLC
7.2.3.1 Company overview
7.2.3.2 Product benchmarking
7.2.3.3 Strategic initiatives
7.2.4 Imerit
7.2.4.1 Company overview
7.2.4.2 Product benchmarking
7.2.4.3 Strategic initiatives
7.2.5 Alegion
7.2.5.1 Company overview
7.2.5.2 Product benchmarking
7.2.5.3 Strategic initiatives
7.2.6 Snorkel AI
7.2.6.1 Company overview
7.2.6.2 Product benchmarking
7.2.6.3 Strategic initiatives
7.2.7 Labelbox
7.2.7.1 Company overview
7.2.7.2 Product benchmarking
7.2.7.3 Strategic initiatives
7.2.8 Infolks
7.2.8.1 Company overview
7.2.8.2 Product benchmarking
7.2.9 Datalabeller
7.2.9.1 Company Overview
7.2.9.2 Product Benchmarking
7.2.10 Centaur Labs
7.2.10.1 Company overview
7.2.10.2 Product benchmarking
7.2.10.3 Strategic initiatives

For more information about this report visit https://www.researchandmarkets.com/r/1jfd49

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