Top Growth Trends in the Healthcare Data Annotation Tools Market: Insights into Market Size and Opportunities for 2025-2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Major Market Drivers Are Expected to Boost the Growth Potential of the Healthcare Data Annotation Tools Market?
The surge in the use of telehealth is likely to fuel the expansion of the healthcare data annotation tools market in the foreseeable future. Telehealth involves the use of electronic data and telecommunications technologies to facilitate remote clinical healthcare, patient and professional health-related education, healthcare management, and public health. These data annotation tools in healthcare are employed in telemedicine to precisely recognize and classify medical data, enabling more efficient assessment, treatment planning, and distant patient supervision. For example, the Health Information National Trends Survey (HINTS), a government agency based in the US, reported in January 2024 that nearly 40% of US adults employed telehealth services in 2022, with significant barriers to entry still prevalent. As a result, the escalating use of telehealth is propelling the healthcare data annotation tools market forward.
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How Has the Healthcare Data Annotation Tools Market Evolved in Recent Years, and What are the Growth Projections for the Forecast Period?
In the past few years, the market size for healthcare data annotation tools has seen rapid expansion. The projected growth is from $0.25 billion in 2024 to $0.31 billion in 2025, corresponding to a Compound Annual Growth Rate (CAGR) of 28.3%. This expansion during the historical period is primarily due to factors such as clinical trials and drug discovery, an intensified awareness of the quality of healthcare data, the growing volume of healthcare data, and the increased implementation of artificial intelligence (AI) in healthcare sphere.
Predictions indicate a significant surge in the market size of healthcare data annotation tools in the coming years, with an estimated value of $0.86 billion by 2029, growing at a compound annual growth rate (CAGR) of 28.4%. Factors contributing to this upward trend in the projected period include the proliferation of telehealth services, the rising adoption of AI-centric healthcare solutions, expansion in genomic data annotation, adherence to regulatory compliances, and the ongoing digital transformation in the healthcare industry. Foreseeable trends during this forecast period encompass accelerated digital transformation, the merge of AI and machine learning, genomic data annotation, image annotation methodologies, and cooperative annotation platforms.
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What Are the Key Market Innovations in theHealthcare Data Annotation Tools Market Over the Coming Years?
Primary businesses in the healthcare data annotation tools sector are concentrating on creating innovative technology solutions, like AI-powered healthcare data annotation tools, to expedite the annotation of videos for AI progression. AI-facilitated healthcare data annotation tools are software utilities that utilize AI systems to annotate and label information relevant to healthcare. For instance, iMerit Technology, an AI data solutions company based in the USA, unveiled Ango Hub in August 2023. It’s an all-encompassing technology platform tailored to offer a wide range of data annotation tools for AI and analytics on a singular platform. The platform aims to provide extensive data annotation services, employing automation at each step, ranging from data preparation and selection to workflow design, specialized annotation tools, quality control, and reporting. Ango Hub has been utilized for annotating medical images. Ango Hub developed by iMerit is a unique application built on a generative AI framework intended to accelerate growth in critical sectors like medical AI.
Who Are the Top Companies Driving Innovation and Growth in theHealthcare Data Annotation Tools Market?
Major companies operating in the healthcare data annotation tools market report are 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, Labelbox, Alegion AI, Inc, SuperAnnotate LLC, Label Your Data, Lynxcare, Playment, V7, Trillbit, NetraMark Corp, Keymakr Inc, Dataloop AI, Kotwel, Haidata
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Which Key Market Segments Comprise the Healthcare Data Annotation Tools Market and Drive Its Revenue Growth?
The healthcare data annotation tools market covered in this report is segmented –
1) By Type: Text, Image And Video, Audio
2) By Technology: Manual, Semi-Supervised, Automatic
3) By Application: Virtual Assistants, Conversational Bots, Diagnostic Support, Drug Development Process, Robotic Surgery, Medical Documents
4) By End-User: Hospitals, Diagnostic Imaging Centers, Healthcare Technology Companies, Other End-Users
Subsegments:
1) By Text: Natural Language Processing (NLP) Annotation, Entity Recognition, Text Classification, Sentiment Analysis
2) By Image and Video: Medical Image Labeling, Object Detection, Semantic Segmentation, Video Frame Annotation
3) By Audio: Speech Recognition Annotation, Voice Data Labeling, Audio Transcription, Speaker Identification
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Which Regions Are Emerging as Leaders in the Healthcare Data Annotation Tools Market?
Asia-Pacific was the largest region in the healthcare data annotation tools market in 2024. The regions covered in the healthcare data annotation tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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