Healthcare Cognitive Computing Market Share

North American Market Forecast

The market share of healthcare cognitive computing in North America, amongst the market in all the other regions, is projected to be the largest with a share of about 35% by the end of 2037. The growth of the market can be attributed majorly to the increasing number of cases of people suffering from chronic diseases. According to the National Center for Chronic Disease Prevention and Health, six in ten persons in the United States are currently coping with a chronic illness such as diabetes, heart disease, or cancer. In the US, chronic diseases rank among the top reason for deaths, with heart disease and cancer alone responsible for almost 38% of fatalities. Furthermore, the other reasons for market growth in the region are the rising collaboration between high-tech firms and healthcare research centers, along with continuous investments in R&D activities by pharmaceutical companies, and the growing adoption of advanced technologies in the medical sector to improve patient care.

APAC Market Statistics

The Asia Pacific healthcare cognitive computing market is estimated to be the second largest, registering a share of about 24% by the end of 2037. The growth of the market can be attributed majorly to the increasing geriatric population who are prone to illnesses and diseases and require proper treatment. As per recent statistics, it has been revealed that by 2050, one in four people in Asia and the Pacific will be over 60 years old. Furthermore, the population of older persons in the region is expected to triple between 2010 and 2050, reaching close to 1.3 billion people. Further, the presence of a strong healthcare network in the region, along with the availability of supportive policies by the regulatory bodies are also anticipated to contribute to the market growth in the region.

Europe Market Forecast

Further, the market in the European region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2037. The growth of the market can be attributed majorly to the proactive efforts by both the public sector to enhance healthcare quality management. The increased investment in research and development activities to develop technologically advanced solutions for better management of data is also estimated to bring lucrative growth opportunities during the forecast period.