Edit
Bizwit-Logo-Final

Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. We have a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. 

Global Healthcare Data Annotation Tools Market to reach USD 907.17 Million by the end of 2030.

Global Healthcare Data Annotation Tools Market Size study & Forecast, by Type (Text, Image/Video, Audio), by Technology (Manual, Semi-supervised, Automatic) by Application (Virtual Assistants, Conversational Bots, Diagnostic Support, Drug Development Process, Robotic Surgery, Medical Documents), and Regional Analysis, 2023-2030

Product Code: HLSHIT-42589905
Publish Date: 20-05-2023
Page: 200

Global Healthcare Data Annotation Tools Market is valued at approximately USD 129.9 million in 2022 and is anticipated to grow with a healthy growth rate of more than 27.50% over the forecast period 2023-2030. Healthcare data annotation tools are software programs or platforms used to annotate and label healthcare data, such as medical images, Electronic Health Records (EHRs), and clinical notes. These tools enable healthcare professionals to identify and label specific pieces of information in the data, such as symptoms, diagnoses, treatments, and patient demographics. Data annotation is an essential step in many healthcare applications, including clinical decision support systems, population health management, and drug discovery. It helps to ensure that healthcare data is accurately labeled and can be analyzed effectively to improve patient outcomes and healthcare delivery. The Healthcare Data Annotation Tools market is expanding because of factors such as rising increasing adoption of electronic health records (EHRs) and growing investment in digital health or related-health-related services.

The benefits of eHealth and telemedicine services, such as simple access to medical care, cost reductions, and advancements in diagnostic and treatment methods, are expected to increase spending on digital health and other health-related services. To help with the development of AI-based digital imaging & radiology products, for instance, Aidoc raised USD 20 million in a Series B fundraising round in September 2020, led by Square Peg Capital. Additionally, it is anticipated that the market would grow in the projected period due to an increase in the number of initiatives promoting eHealth and digital health. For instance, the European Health Data Space Programme was introduced in May 2022 to assist the use of health data to enable improvements in research, creative healthcare delivery, and policymaking. In addition, rising technological advancements and growing investment in the adoption of machine learning and artificial intelligence (ai) in healthcare are creating a lucrative opportunity for market growth. However, the high cost of Healthcare Data Annotation Tools stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Healthcare Data Annotation Tools Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the presence of key market players, rising investment in the healthcare industry, and rising technological advancement. Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising adoption of ERP systems., rising public-private partnerships for product development, and rising adoption and spending on e-health in the region.

Major market player included in this report are:
Infosys Limited
Shaip.ai Data LLP
Innodata Inc.
Ango AI Inc
Capestart Inc
Lynxcare Inc
iMerit Technology Services Pvt. Ltd.
Anolytics Inc
V7 Technologies Inc
SuperAnnotate AI, Inc.

Recent Developments in the Market:
Ø In January 2023, CloudFactory announced the launch of Accelerated Annotation. Accelerated Annotation, a Vision AI product from CloudFactory, combines industry-leading AI-assisted labelling technology with CloudFactory’s workforce to produce high-quality labelled data five times faster than manual labelling.
Ø In October 2022, Google released the Medical Imaging Suite tools to enable automated picture labelling using AI-assisted annotation and the creation of training datasets. The Medical Imaging Suite helps diagnose conditions more quickly and accurately than human clinicians while lessening the burden on radiologists.

Global Healthcare Data Annotation Tools Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Technology, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Typeofferings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Text
Image/Video
Audio

By Technology:
Manual
Semi-supervised
Automatic

By Application:
Virtual Assistants
Conversational Bots
Diagnostic Support
Drug Development Process
Robotic Surgery
Medical Documents

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Million)
1.2.1. Healthcare Data Annotation Tools Market, by Region, 2020-2030 (USD Million)
1.2.2. Healthcare Data Annotation Tools Market, by Type, 2020-2030 (USD Million)
1.2.3. Healthcare Data Annotation Tools Market, by Technology, 2020-2030 (USD Million)
1.2.4. Healthcare Data Annotation Tools Market, by Application, 2020-2030 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Healthcare Data Annotation Tools Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Healthcare Data Annotation Tools Market Dynamics
3.1. Healthcare Data Annotation Tools Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Increasing adoption of electronic health records (EHRs)
3.1.1.2. Growing investment in digital health or related-health-related services
3.1.2. Market Challenges
3.1.2.1. High Cost of Healthcare Data Annotation Tools
3.1.3. Market Opportunities
3.1.3.1. Rising technological advancements
3.1.3.2. Growing investment for adoption of machine learning and artificial intelligence (AI) in healthcare
Chapter 4. Global Healthcare Data Annotation Tools Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Healthcare Data Annotation Tools Market, by Type
5.1. Market Snapshot
5.2. Global Healthcare Data Annotation Tools Market by Type, Performance – Potential Analysis
5.3. Global Healthcare Data Annotation Tools Market Estimates & Forecasts by Type 2020-2030 (USD Million)
5.4. Healthcare Data Annotation Tools Market, Sub Segment Analysis
5.4.1. Text
5.4.2. Image/Video
5.4.3. Audio
Chapter 6. Global Healthcare Data Annotation Tools Market, by Technology
6.1. Market Snapshot
6.2. Global Healthcare Data Annotation Tools Market by Technology, Performance – Potential Analysis
6.3. Global Healthcare Data Annotation Tools Market Estimates & Forecasts by Technology 2020-2030 (USD Million)
6.4. Healthcare Data Annotation Tools Market, Sub Segment Analysis
6.4.1. Manual
6.4.2. Semi-supervised
6.4.3. Automatic
Chapter 7. Global Healthcare Data Annotation Tools Market, by Application
7.1. Market Snapshot
7.2. Global Healthcare Data Annotation Tools Market by Application, Performance – Potential Analysis
7.3. Global Healthcare Data Annotation Tools Market Estimates & Forecasts by Application 2020-2030 (USD Million)
7.4. Healthcare Data Annotation Tools Market, Sub Segment Analysis
7.4.1. Virtual Assistants
7.4.2. Conversational Bots
7.4.3. Diagnostic Support
7.4.4. Drug Development Process
7.4.5. Robotic Surgery
7.4.6. Medical Documents
Chapter 8. Global Healthcare Data Annotation Tools Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Healthcare Data Annotation Tools Market, Regional Market Snapshot
8.4. North America Healthcare Data Annotation Tools Market
8.4.1. U.S. Healthcare Data Annotation Tools Market
8.4.1.1. Type breakdown estimates & forecasts, 2020-2030
8.4.1.2. Technology breakdown estimates & forecasts, 2020-2030
8.4.1.3. Application breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Healthcare Data Annotation Tools Market
8.5. Europe Healthcare Data Annotation Tools Market Snapshot
8.5.1. U.K. Healthcare Data Annotation Tools Market
8.5.2. Germany Healthcare Data Annotation Tools Market
8.5.3. France Healthcare Data Annotation Tools Market
8.5.4. Spain Healthcare Data Annotation Tools Market
8.5.5. Italy Healthcare Data Annotation Tools Market
8.5.6. Rest of Europe Healthcare Data Annotation Tools Market
8.6. Asia-Pacific Healthcare Data Annotation Tools Market Snapshot
8.6.1. China Healthcare Data Annotation Tools Market
8.6.2. India Healthcare Data Annotation Tools Market
8.6.3. Japan Healthcare Data Annotation Tools Market
8.6.4. Australia Healthcare Data Annotation Tools Market
8.6.5. South Korea Healthcare Data Annotation Tools Market
8.6.6. Rest of Asia Pacific Healthcare Data Annotation Tools Market
8.7. Latin America Healthcare Data Annotation Tools Market Snapshot
8.7.1. Brazil Healthcare Data Annotation Tools Market
8.7.2. Mexico Healthcare Data Annotation Tools Market
8.8. Middle East & Africa Healthcare Data Annotation Tools Market
8.8.1. Saudi Arabia Healthcare Data Annotation Tools Market
8.8.2. South Africa Healthcare Data Annotation Tools Market
8.8.3. Rest of Middle East & Africa Healthcare Data Annotation Tools Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Infosys Limited
9.3.1.1. Key Information
9.3.1.2. Overview
9.3.1.3. Financial (Subject to Data Availability)
9.3.1.4. Product Summary
9.3.1.5. Recent Developments
9.3.2. Shaip.ai Data LLP
9.3.3. Innodata Inc.
9.3.4. Ango AI Inc
9.3.5. Capestart Inc
9.3.6. Lynxcare Inc
9.3.7. iMerit Technology Services Pvt. Ltd.
9.3.8. Anolytics Inc
9.3.9. V7 Technologies Inc
9.3.10. SuperAnnotate AI, Inc.
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

Need Assistance

Contact Person -
Krishant Mennon
Call us @
+ 91 99931 15879
Email: sales@bizwitresearch.com

Checkout

Why Choose Us?

Quality over Quantity

Backed by 60+ paid data sources our reports deliver crisp insights with no compromise quality.

Analyst Support

24x7 Chat Support plus
free analyst hours with every purchase

Flawless Methodology

Our 360-degree approach of market study, our research methods leave stones unturned.
Enquiry Now