Healthcare Data Collection And Labeling Market Demands, Trends and Business Outlook 2030

Healthcare Data Collection And Labeling Market Growth & Trends

The global healthcare data collection and labeling market size is expected to reach USD 4.5 billion by 2030, based on a new report by Grand View Research, Inc. 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.

Gather more insights about the market drivers, restrains and growth of the Global Healthcare Data Collection And Labeling Market

Market Segmentation:

Grand View Research has segmented the global healthcare data collection and labeling market based on data type (Image/Video, Audio, Text, Others).

Based on Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America dominated the market in 2021 with a revenue share of over 45.0%.

North America dominated the market in 2021 with a revenue share of over 45.0% owing to the increased adoption of AI-based solutions in healthcare during the initial phase of the COVID-19 pandemic. The healthcare services in the region are moving towards medical imaging for accurate and early diagnosis as this also generates automated reports for individual patients. Data labeling is used to train AI systems for different medical images.

Asia Pacific is expected to expand at the fastest CAGR over the forecasted period.

This growth is attributed to the increased use of medical imaging in the healthcare industry in developing countries, such as China and India. Various initiatives are taken by the governments to increase the adoption of AI in healthcare in the coming years. Growth in the implementation of face recognition surveillance systems in China is expected to contribute to the market growth. Additional factors such as rapid technological advancements, growth in smartphone and tablet users, and the rising popularity of social networking sites are major contributors to healthcare data.

Browse through Grand View Research’s Healthcare IT Industry Research Reports.

• Healthcare Digital Twins Market – The global healthcare digital twins market size was valued at USD 462.6 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 25.6% from 2022 to 2030.
• Healthcare CRM Market – The Healthcare CRM market size was valued at USD 14.3 billion in 2021 and is estimated to grow at a compound annual growth rate (CAGR) of 8.4% from 2022 to 2030.

Key Companies

The key players in the global healthcare data collection and labeling market include – Alegion, Labelbox, Inc, iMerit, Cogito Tech LLC, Appen Limited, Shaip, Snorkel AI, Infloks, Datalabeller, and Centaur labs.

The key market players are focusing on expanding their customer base to acquire a competitive advantage in the market. The companies operating in the market are undertaking several strategic activities such as collaborations, acquisitions, mergers, and partnerships with other industry leaders.

Market Share Insights

• September 2021: Centaur labs raised funding of USD 15 million. The investors were Matrix Partners, Susa Ventures, Y Combinator, and Global Founders Capital.
• August 2021: Snorkel AI raised USD 85 million at a valuation of USD 1 billion to create an AI training database automatically and develop trained AI data companies that spend months doing it manually, which decreases the AI development process.
• November 2020: Alegion, an Austin-based company that provides data labeling solutions, announced the launch of Alegion Control, a self-service software solution that would optimize data annotation by offering direct access to its data labeling platform.

Order a free sample PDF of the Healthcare Data Collection And Labeling Market Intelligence Study, published by Grand View Research.