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 players 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:
- 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.
- 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:
- Historical Data: - 2020 - 2021
- Base Year for Estimation: - 2022
- Forecast period: - 2023-2030
- Report Coverage: - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: - Type, Technology, Application, Region
- Regional Scope: - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- 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:
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
Table of Contents
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