Healthcare Data Annotation Tools Market Size, Share & Trends Analysis Report By Type (Text, Image/Video, Audio), By Technology, By Application, By Region- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

The global healthcare data annotation tools market size was exhibited at USD 185.9 million in 2022 and is projected to hit around USD 2,110.48 million by 2032, growing at a CAGR of 27.5% during the forecast period 2023 to 2032.

Key Pointers:

  • In 2022, North America dominated the market with a share of 43.18%.
  • Asia Pacific is anticipated to witness fastest growth in the forecast period.
  • By type, the image/video segment held the largest share of 60.14% in 2022
  • By technology, the semi-supervised segment held the largest share of 39.18% in 2022.
  • The automatic segment is anticipated to witness rapid growth in the forecast period.
  • By application, the diagnostic support segment held the largest share of 32.19% in 2022. 
  • The virtual assistant segment is anticipated to witness fastest growth in the forecast period. 

Healthcare Data Annotation Tools Market Report Scope

Report Coverage Details
Market Size in 2023 USD 237.02 million
Market Size by 2032 USD 2,110.48 million
Growth Rate From 2023 to 2032 CAGR of  27.5%
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered Type, Technology, Application
Market Analysis (Terms Used) Value (US$ Million/Billion) or (Volume/Units)
Regional Scope North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa
Key Companies Profiled Infosys Limited; Shaip; Innodata; Ango AI; Capestart; Lynxcare; iMerit; Anolytics; V7; SuperAnnotate LLC

 

AI/ML in medical field is majorly used in diagnostics and management of treatment. Accurate diagnosis is a fundamental aspect of healthcare systems globally. However, according to an article published on Southern Medical Association in October 2021, in the U.S. approximately 5% of patients receive inaccurate diagnosis with errors occurring majorly in serious medical conditions that has potential risk of serious harm for the patient.

By using AI/ML, healthcare professionals can make better decisions based on more precise diagnoses by saving time, reducing costs and improving medical records management overall. Thus, Al/ML in healthcare helps in identifying new cancer treatments to improve patient care with quicker, accurate and quality treatment. Moreover, increasing FDA approvals of AI/ML enabled medical devices is anticipated to boost the demand during the forecast period. For instance, in 2022, the FDA authorized 91 artificial intelligence or machine learning enabled medical devices. In addition, in 2021, 115 submissions were authorized by the FDA, an 83% increase from 2018.

The number of initiatives being undertaken for the implementation of eHealth is rising globally. The adoption of eHealth is rising in developing countries. Countries such as India, China, Brazil, and Mexico are some of the developing economies that have undertaken initiatives for eHealth. Several apps such as Practo, AssistRx, and Wareed have been launched in different parts of the world over the last decade to help patients’ book appointments, track their consultations & medical prescriptions, and store their healthcare information over the course of the treatment. For instance, in February 2022, Teladoc Health, Inc. launched Chronic Care Complete, a first-of-its-kind complete chronic condition management solution aimed at improving healthcare outcomes. Thus, initiatives pertaining to the adoption of digital health are expected to positively influence the market in the forecast period.

Technological advancements in annotation tools by key players in the market is one of the key factors boosting the market growth. For instance, in 2021, Deepen AI introduced the world’s most intuitive AI-powdered video and image annotation tool to decrease annotation time by more than half while retaining a high level of accuracy. Similarly, in March 2023, SciBite introduced a structured data annotation tool Workbench to help organization implement a FAIR approach for data management, making data, accessible, findable, reusable, and interoperable. Hence, introduction of such novel tools by major players are driving the market.

Furthermore, healthcare organizations in the age of data are under enormous pressure to improve the quality of care and patient experiences, while continuously reducing healthcare delivery costs is boosting the funding and investments to accelerate the development of data annotation software and solutions. For instance, in November 2022, RedBrick AI, a healthcare startup company secured funding of USD 4.6 million from Sequoia India and others. The funding aims to accelerate the development and increase the adoption of artificial intelligence in healthcare by solving medical data annotation issues. Hence, rising healthcare expenditure and funding for data annotation tools are propelling the market growth.

Some of the prominent players in the Healthcare Data Annotation Tools Market include:

  • Infosys Limited
  • Shaip
  • Innodata
  • Ango AI
  • Capestart
  • Lynxcare
  • iMerit
  • Anolytics
  • V7
  • SuperAnnotate LLC

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Healthcare Data Annotation Tools market.

By Type 

  • Text
  • Image/Video
  • Audio

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
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

Frequently Asked Questions

The global healthcare data annotation tools market size was exhibited at USD 185.9 million in 2022 and is projected to hit around USD 2,110.48 million by 2032

The global healthcare data annotation tools market is expected to grow at a compound annual growth rate of 27.6% from 2023 to 2032

Some key players operating in the healthcare data annotation tools market include Infosys Limited, Shaip, Innodata, Ango AI, Capestart, Lynxcare, iMerit, Anolytics, V7, SuperAnnotate LLC

Key factors that are driving the market growth include growing adoption of AI/ML-based technologies for medical diagnosis, rising healthcare funding and investments prompting cost-cutting initiatives, increase in number of initiatives supporting eHealth and digital health and technological advancements of data annotation tools

Chapter 1. Methodology and Scope
                   1.1. Market Segmentation and Scope
                   1.2. Research Methodology
                       1.2.1. Information Procurement
                   1.3. Information or Data Analysis
                   1.4. Methodology
                   1.5. Research Scope and Assumptions
                   1.6. Market Formulation & Validation
                       1.6.1. Country Market: Cagr Calculation
                   1.7. Country Based Segment Share Calculation
                   1.8. List of Data Sources
Chapter 2. Executive Summary
                   2.1. Market Outlook
                   2.2. Segment Outlook
                   2.3. Regional Insights
                   2.4. Competitive Insights
                   2.5. Healthcare Data Annotation Tools Market Snapshot
                   2.6. Healthcare Data Annotation Tools Market Segment Snapshot
                   2.7. Healthcare Data Annotation Tools Market Competitive Landscape Snapshot
Chapter 3. Healthcare Data Annotation Tools Market Variables, Trends, & Scope
                   3.1. Market Lineage Outlook
                   3.2. Market Dynamics
                       3.2.1. Market Driver Analysis
                           3.2.1.1. Growing adoption of AI/ML-based technologies for medical diagnosis
                           3.2.1.2. Rising healthcare funding and investments prompting cost-cutting initiatives
                           3.2.1.3. Increase in number of initiatives supporting eHealth and digital health
                           3.2.1.4. Technological advancements of data annotation tools
                       3.2.2. Market Restraint Analysis
                           3.2.2.1. Requirement of skilled professionals for medical data annotation
                           3.2.2.2. High costs associated with manual labeling of complex images
                       3.2.3. Industry Challenge
                   3.3. Healthcare Data Annotation Tools Market Analysis Tools
                       3.3.1. Industry Analysis - Porter’s
                           3.3.1.1. Bargaining power of the suppliers
                           3.3.1.2. Bargaining power of the buyers
                           3.3.1.3. Threats of substitution
                           3.3.1.4. Threats from new entrants
                           3.3.1.5. Competitive rivalry
                       3.3.2. PESTEL Analysis
                           3.3.2.1. Political landscape
                           3.3.2.2. Economic and Social landscape
                           3.3.2.3. Technological landscape
                   3.4. Impact of COVID-19 on Healthcare Data Annotation Tools Market
Chapter 4. Healthcare Data Annotation Tools Market: Type Estimates & Trend Analysis
                   4.1. Segment Dashboard
                   4.2. Healthcare Data Annotation Tools Market: Type Movement Analysis, 2022 & 2032
                   4.3. Text
                       4.3.1. Text Market Revenue Estimates and Forecasts, 2020 - 2032
                   4.4. Image/Video
                       4.4.1. Image/Video Market Revenue Estimates and Forecasts, 2020 - 2032
                   4.5. Audio
                       4.5.1. Audio Market Revenue Estimates and Forecasts, 2020 - 2032
Chapter 5. Healthcare Data Annotation Tools Market: Technology Estimates & Trend Analysis
                   5.1. Segment Dashboard
                   5.2. Healthcare Data Annotation Tools Market: Technology Movement Analysis,  2022 & 2032
                   5.3. Manual
                       5.3.1. Manual Market Revenue Estimates and Forecasts, 2020 - 2032
                   5.4. Semi-Supervised
                       5.4.1. Semi-Supervised Market Revenue Estimates and Forecasts, 2020 - 2032
                   5.5. Automatic
                       5.5.1. Automatic Market Revenue Estimates and Forecasts, 2020 - 2032
Chapter 6. Healthcare Data Annotation Tools Market: Application Estimates & Trend Analysis
                   6.1. Segment Dashboard
                   6.2. Healthcare Data Annotation Tools Market: Application Movement Analysis,  2022 & 2032
                   6.3. Virtual Assistants
                       6.3.1. Virtual Assistants Market Revenue Estimates and Forecasts, 2020 - 2032
                   6.4. Conversational Bots
                       6.4.1. Conversational Bots Market Revenue Estimates and Forecasts, 2020 - 2032
                   6.5. Diagnostic Support
                       6.5.1. Diagnostic Support Market Revenue Estimates and Forecasts, 2020 - 2032
                   6.6. Drug Development Process
                       6.6.1. Drug Development Process Market Revenue Estimates and Forecasts, 2020 - 2032
                   6.7. Robotic Surgery
                       6.7.1. Robotic Surgery Market Revenue Estimates and Forecasts, 2020 - 2032
                   6.8. Medical Documents
                       6.8.1. Medical Documents Market Revenue Estimates and Forecasts, 2020 - 2032
Chapter 7. Healthcare Data Annotation Tools Market: Regional Estimates & Trend Analysis
                   7.1. Healthcare Data Annotation Tools Market Share, By Region, 2022 & 2032, 2032 USD Million
                   7.2. North America
                       7.2.1. North America Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.2.2. U.S.
                           7.2.2.1. U.S. Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.2.3. Canada
                           7.2.3.1. Canada Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
7.3. Europe
                       7.3.1. Europe Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.3.2. U.K.
                           7.3.2.1. U.K. Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.3.3. Germany
                           7.3.3.1. Germany Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.3.4. France
                           7.3.4.1. France Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.3.5. Italy
                           7.3.5.1. Italy Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.3.6. Spain
                           7.3.6.1. Spain Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.3.7. Denmark
                           7.3.7.1. Denmark Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.3.8. Norway
                           7.3.8.1. Norway Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.3.9. Sweden
                           7.3.9.1. Sweden Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
7.4. Asia Pacific
                       7.4.1. Asia Pacific Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.4.2. China
                           7.4.2.1. China Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.4.3. Japan
                           7.4.3.1. Japan Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.4.4. India
                           7.4.4.1. India Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.4.5. Thailand
                           7.4.5.1. Thailand Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.4.6. South Korea
                           7.4.6.1. South Korea Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.4.7. Australia
                           7.4.7.1. Australia Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                   7.5. Latin America
                       7.5.1. Latin America Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.5.2. Brazil
                           7.5.2.1. Brazil Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.5.3. Mexico
                           7.5.3.1. Mexico Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.5.4. Argentina
                           7.5.4.1. Argentina Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                   7.6. Middle East and Africa
                       7.6.1. Middle East and Africa Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.6.2. South Africa
                           7.6.2.1. South Africa Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.6.3. Saudi Arabia
                           7.6.3.1. Saudi Arabia Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.6.4. UAE
                           7.6.4.1. UAE Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
                       7.6.5. Kuwait
                           7.6.5.1. Kuwait Healthcare Data Annotation Tools Market Estimates and Forecasts, 2020 - 2032
Chapter 8. Competitive Landscape
                   8.1. Company Categorization
                   8.2. Company Market Share Analysis, 2022
                   8.3. Strategy Mapping
                   8.4. Company Profiles/Listing
                       8.4.1. Infosys Limited
                           8.4.1.1. Overview
                           8.4.1.2. Financial Performance (Net Revenue)
                           8.4.1.3. Product Benchmarking
                           8.4.1.4. Strategic Initiatives
                       8.4.2. Shaip
                           8.4.2.1. Overview
                           8.4.2.2. Financial Performance (Net Revenue)
                           8.4.2.3. Product Benchmarking
                           8.4.2.4. Strategic Initiatives
                       8.4.3. Innodata
                           8.4.3.1. Overview
                           8.4.3.2. Financial Performance (Net Revenue)
                           8.4.3.3. Product Benchmarking
                           8.4.3.4. Strategic Initiatives
                       8.4.4. Ango AI
                           8.4.4.1. Overview
                           8.4.4.2. Financial Performance (Net Revenue)
                           8.4.4.3. Product Benchmarking
                           8.4.4.4. Strategic Initiatives
                       8.4.5. Capestart
                           8.4.5.1. Overview
                           8.4.5.2. Financial Performance (Net Revenue)
                           8.4.5.3. Product Benchmarking
                           8.4.5.4. Strategic Initiatives
                       8.4.6. Lynxcare
                           8.4.6.1. Overview
                           8.4.6.2. Financial Performance (Net Revenue)
                           8.4.6.3. Product Benchmarking
                           8.4.6.4. Strategic Initiatives
                       8.4.7. iMerit
                           8.4.7.1. Overview
                           8.4.7.2. Financial Performance (Net Revenue)
                           8.4.7.3. Product Benchmarking
                           8.4.7.4. Strategic Initiatives
                       8.4.8. Anolytics
                           8.4.8.1. Overview
                           8.4.8.2. Financial Performance (Net Revenue)
                           8.4.8.3. Product Benchmarking
                           8.4.8.4. Strategic Initiatives
                       8.4.9. V7
                           8.4.9.1. Overview
                           8.4.9.2. Financial Performance (Net Revenue)
                           8.4.9.3. Product Benchmarking
                           8.4.9.4. Strategic Initiatives
                       8.4.10. SuperAnnotate LLC
                           8.4.10.1. Overview
                           8.4.10.2. Financial Performance (Net Revenue)
                           8.4.10.3. Product Benchmarking
                           8.4.10.4. Strategic Initiatives

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