The Worldwide Healthcare Data Collection and Labeling Industry is Expected to Reach $4.5 Billion by 2030
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
18.104.22.168 Threat of new entrants
22.214.171.124 Bargaining power of suppliers
126.96.36.199 Bargaining power of buyers
188.8.131.52 Competitive rivalry
184.108.40.206 Threat of substitutes
4.3.2 PESTEL Analysis
220.127.116.11 Political & Legal
18.104.22.168 Economic & Social
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
22.214.171.124 Image/video market, 2017-2030 (USD Million)
126.96.36.199 Audio market, 2017-2030 (USD Million)
188.8.131.52 Text market, 2017-2030 (USD Million)
184.108.40.206 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
220.127.116.11 Company overview
18.104.22.168 Product benchmarking
22.214.171.124 Strategic initiatives
126.96.36.199 Company overview
188.8.131.52 Product benchmarking
184.108.40.206 Strategic initiatives
7.2.3 Cogito Tech LLC
220.127.116.11 Company overview
18.104.22.168 Product benchmarking
22.214.171.124 Strategic initiatives
126.96.36.199 Company overview
188.8.131.52 Product benchmarking
184.108.40.206 Strategic initiatives
220.127.116.11 Company overview
18.104.22.168 Product benchmarking
22.214.171.124 Strategic initiatives
7.2.6 Snorkel AI
126.96.36.199 Company overview
188.8.131.52 Product benchmarking
184.108.40.206 Strategic initiatives
220.127.116.11 Company overview
18.104.22.168 Product benchmarking
22.214.171.124 Strategic initiatives
126.96.36.199 Company overview
188.8.131.52 Product benchmarking
184.108.40.206 Company Overview
220.127.116.11 Product Benchmarking
7.2.10 Centaur Labs
18.104.22.168 Company overview
22.214.171.124 Product benchmarking
126.96.36.199 Strategic initiatives
For more information about this report visit https://www.researchandmarkets.com/r/1jfd49
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900