Linguamatics recognized as Market Leader by analysts
(Cambridge, UK and Boston, USA – July 07, 2016) Text analytics provider Linguamatics is pleased to announce that it has been recognized by Frost & Sullivan with a 2016 Market Leadership Award. The award is the result of extensive research conducted by market analysis experts Frost & Sullivan on the “NLP (Natural Language Processing)-Based Text Mining for Life Sciences” industry.
This new research highlights Linguamatics’ leading position in the market:
“Linguamatics has achieved a leadership position in the NLP for text mining and analytics market…with few participants operating in this technology and domain that have as many use cases as Linguamatics.” Sangeetha Prabakaran, Research Manager, Transformational Health at Frost & Sullivan
In the pharmaceutical sector, Linguamatics customers use text mining to gain business insights across drug discovery and development, including gene-disease mapping and target identification, clinical trial optimizations, and competitive intelligence. As the report points out, the number of potential use cases is expanding considerably:
“Linguamatics are a recognized leader in this field and are working on predictive risk models, population health and clinical research applications to improve patient care and reduce costs. The strong interest in Real World Evidence means that this data is of considerable value to the pharmaceutical industry.” - Sangeetha Prabakaran, Frost & Sullivan.
In addition to Real World Evidence (RWE), pharma companies are now already focusing on using Linguamatics’ text mining solution for compliance with IDMP (IDentification of Medicinal Products), a new set of international standards developed by ISO, which come into effect in Europe in July 2016.
While already holding a dominant position in the pharmaceuticals sector, Frost & Sullivan details how Linguamatics are leading the discussion on the growing importance of clinical NLP in the delivery of patient care and how this is helping the rapid growth of the company’s healthcare business:
“Linguamatics also has a growing presence in the healthcare market and is working with many leading academic medical centers, health systems, government agencies and payers. The move towards accountable care and pay for performance models mean that patients and populations need to be analyzed at a more detailed level and this requires mining of unstructured data using NLP.”
The report’s author, leading Frost & Sullivan analyst Sangeetha Prabakaran, concludes: “Market leadership means quickly adapting to a changing market environment and driving demand while ensuring competitive differentiation. Applying their solution to critical and timely knowledge management issues like RWE and IDMP demonstrates how Linguamatics is staying ahead of the competition and helping pharma and healthcare companies to deal with the latest challenges.”
She adds that, ”Linguamatics should and will continue to focus with equal rigour on customer experience, committing to the customer through every stage of their engagement cycle to expand their market share and base and to retain their market leadership position.”