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Market Growth Overview

• Exponential Growth:
  • 2023: $0.19 billion
  • 2024: $0.25 billion
  • CAGR: 29.0%
• Drivers:
  • Clinical trials and drug development
  • Rising awareness of healthcare data quality
  • Increasing volume of healthcare data
  • Rise of AI in healthcare

Future Projections

• Expected Growth:
  • 2028: $0.67 billion
  • CAGR: 28.3%
• Drivers:
  • Expansion of telehealth services
  • Embrace of AI-driven healthcare solutions
  • Growth in genomic data annotation
  • Regulatory compliance requirements
  • Digital transformation in healthcare
• Major Trends:
  • Digital transformation acceleration
  • Integration of AI and machine learning
  • Genomic data annotation
  • Image annotation techniques
  • Collaborative annotation platforms

Read More On The Healthcare Data Annotation Tools Market Report 2024 – https://www.thebusinessresearchcompany.com/report/healthcare-data-annotation-tools-global-market-report

Telehealth’s Influence on Market Growth

• Telehealth Expansion:
  • Supports long-distance clinical healthcare
  • Enhances patient and professional education
  • Utilizes healthcare data annotation for effective evaluation and remote monitoring
• Survey Insights:
  • Rock Health survey shows 76% of people over 55 use telemedicine
  • 80% of all respondents accessed care via telemedicine, up 8% from 2021

Key Players in the Market

• Major Companies:
  • Infosys BPM
  • iMerit Technology
  • Appen Limited
  • Scale AI
  • Hive AI
  • CloudFactory Limited
  • Turing
  • Capestart Analytics
  • Innodata
  • Cogito Tech LLC
  • Defined.ai
  • Shaip
  • Sama AI
  • Explorium

Advancements in AI and Machine Learning

• AI-Based Solutions:
  • Speeds up video annotation for AI development
  • Example: iMerit Technology’s Ango Hub platform for medical image annotation
  • Uses generative AI to enhance workflow efficiency

Strategic Moves in the Market

• TELUS International’s Acquisition:
  • Acquired Playment to strengthen global position in data annotation
  • Enhances capabilities in AI dataset creation for various sectors, including healthcare

Market Segmentation

• By Type:
  • Text, Image and Video, Audio
• By Technology:
  • Manual, Semi-Supervised, Automatic
• By Application:
  • Virtual Assistants, Conversational Bots, Diagnostic Support, Drug Development Process, Robotic Surgery, Medical Documents
• By End-User:
  • Hospitals, Diagnostic Imaging Centers, Healthcare Technology Companies, Other End-Users

Regional Insights

• Largest Market:
  • Asia-Pacific in 2023
• Regions Covered:
  • Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The healthcare data annotation tools market is on a rapid growth trajectory driven by technological advancements, increasing adoption of telehealth, and the pivotal role of AI in healthcare. With major players innovating and expanding their capabilities, the future promises significant opportunities for enhancing healthcare data management and AI-driven solutions globally.

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