Canada Healthcare Data Annotation Tools Market Size & Outlook
Canada healthcare data annotation tools market, 2017-2030 (US$M)
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Canada healthcare data annotation tools market highlights
- The Canada healthcare data annotation tools market generated a revenue of USD 7.5 million in 2023 and is expected to reach USD 47.1 million by 2030.
- The Canada market is expected to grow at a CAGR of 30% from 2024 to 2030.
- In terms of segment, image/video was the largest revenue generating type in 2023.
- Image/Video is the most lucrative type segment registering the fastest growth during the forecast period.
Healthcare data annotation tools market data book summary
| Market revenue in 2023 | USD 7.5 million |
| Market revenue in 2030 | USD 47.1 million |
| Growth rate | 30% (CAGR from 2023 to 2030) |
| Largest segment | Image/video |
| Fastest growing segment | Image/Video |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Text, Image/Video, Audio |
| Key market players worldwide | Infosys Ltd ADR, Innodata Inc, Appen Ltd, Shaip, Ango AI, CapeStart, LynxCare, iMerit, Anolytics, V7, SuperAnnotate |
Other key industry trends
- In terms of revenue, Canada accounted for 4.5% of the global healthcare data annotation tools market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. healthcare data annotation tools market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 47.1 million by 2030.
Image/video was the largest segment with a revenue share of 60% in 2023. Horizon Databook has segmented the Canada healthcare data annotation tools market based on text, image/video, audio covering the revenue growth of each sub-segment from 2017 to 2030.
Natural language processing (NLP) techniques combined with data annotation are beneficial in extracting insights from unstructured healthcare texts in Canada. Tools for annotation make it easier to classify and annotate medical terms, concepts, and attitudes in clinical notes, academic publications, and other text-based sources.
Applications for clinical decision support, information retrieval, and data mining applications involving clinical decision support, information retrieval, and data mining depend heavily on these annotations. They are some of the key factors raising the market's revenue.
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Healthcare Data Annotation Tools Market Scope
Healthcare Data Annotation Tools Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada healthcare data annotation tools market size, by technology, 2017-2030 (US$M)
Canada Healthcare Data Annotation Tools Market Outlook Share, 2023 & 2030 (US$M)
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