Press release
Artificial Intelligence (AI) in Precision Medicine Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Artificial Intelligence (AI) in Precision Medicine Market
The growing occurrence of ongoing diseases and breathing disorders is anticipated to drive the expansion of artificial intelligence in precision medicine. Ongoing diseases denote long-term health conditions that demand continual medical care, while breathing ailments impact the air passages and lungs. AI plays a crucial role in precision medicine by aiding in diagnosis and prediction of outcomes for patients with respiratory diseases, utilizing clinical data and chest imagery. It also cuts down expenses and optimizes the use of resources when used as a treatment for ongoing diseases. For example, the United Nations, a U.S. intergovernmental organization, projected in May 2023, that by 2050, heart-related diseases, cancer, diabetes, and respiratory ailments will cause 86% of the 90 million deaths. Moreover, the Australian Institute of Health and Welfare, an Australian government agency, reported in June 2024 that the mortality rate due to ongoing conditions surged from 459 deaths per 100,000 individuals in 2021 to 490 per 100,000 individuals in 2022. Consequently, a high occurrence of ongoing diseases and respiratory conditions is anticipated to stimulate the growth of artificial intelligence in precision medicine.
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What Is the projected market size and growth rate for the artificial intelligence (ai) in precision medicine market?
The market size for artificial intelligence (AI) in precision medicine has seen a dramatic increase in recent years. Expectations are for it to expand from $2.33 billion in 2024 to $3 billion in 2025, equating to a compound annual growth rate (CAGR) of 28.9%. This escalation during the past period is due largely to an amplified availability of healthcare data, an increasing burden of chronic diseases, advancements in genomic research, growing focus on personalized medicine, and increased computational power.
In the coming years, substantial expansion is anticipated in the market for artificial intelligence (AI) in precision medicine, with a forecasted increase to $9.18 billion by 2029, reflecting a compound annual growth rate (CAGR) of 32.2%. Factors underpinning this projected growth within the predictive period include the growth of precision medicine programs, a rise in predictive analytics in healthcare, advancements in genomics-based therapies, and boosted funding for research on AI application in precision medicine. During the forecast period, key trends include the discovery of AI-driven biomarkers, the widening application of natural language processing in healthcare, improved patient classification using AI, optimization of AI-assisted clinical trials, and the development of individualized treatment schemes using AI-supported decision systems.
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What new trends are reshaping the artificial intelligence (ai) in precision medicine market and its opportunities?
The increasing momentum of creating unique artificial intelligence (AI)-oriented life science solutions is a significant trend observed in the artificial intelligence in the precision medicine market. To maintain their dominance in the market, several big names in the artificial intelligence in the precision medicine market have made noteworthy strides in large-scale data analytics. For example, in May 2023, US-based tech giant Google LLC rolled out a ground-breaking AI-based life sciences solution aimed at accelerating the process of drug discovery and precision medicine. The company developed a target and lead identification suite to enhance the efficiency of in silico drug development. This innovative tool aids research teams in predicting protein structure and accurately assessing the role of amino acids.
What major market segments define the scope and growth of the artificial intelligence (ai) in precision medicine market?
The artificial intelligence (AI) in precision medicine market covered in this report is segmented -
1) By Component: Hardware, Software, Service
2) By Technology: Deep Learning, Querying Method, Natural Language Processing, Context Aware Processing
3) By Therapeutic Application: Oncology, Cardiology, Neurology, Respiratory, Other Therapeutic Applications
Subsegments:
1) By Hardware: AI Processors, High-Performance Computing Systems, Diagnostic Devices
2) By Software: AI Algorithms And Models, Data Analytics Platforms, Genomic Analysis Software, Clinical Decision Support Systems
3) By Service: Consulting Services, Integration Services, Maintenance And Support Services, Training And Education Services
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Which region dominates the artificial intelligence (ai) in precision medicine market?
North America was the largest region in the artificial intelligence (AI) in the precision medicine market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) in precision medicine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the artificial intelligence (ai) in precision medicine industry growth?
Major companies operating in the artificial intelligence (AI) in precision medicine market include Alphabet Inc., Microsoft Corporation, Intel Corporation, International Business Machines Corporation, AstraZeneca PLC, Sanofi S.A., NVIDIA Corporation, GE HealthCare Technologies Inc., Illumina Inc., QIAGEN N.V., Helix Inc., Sema4 Holdings Corp., SOPHiA GENETICS SA, Insilico Medicine, BenevolentAI Limited, Fabric Genomics Inc., Tempus Technologies Inc., Enlitic Inc., PathAI Inc., Genuity Science Inc., BERG LLC, Perthera Inc., Vuno Inc., CureMetrix Inc., AITIA International Inc., Zephyr AI, Freenome Inc., PetaGene Ltd., Suki AI Inc., BioXcel Therapeutics Inc.
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What Is Covered In The Artificial Intelligence (AI) in Precision Medicine Global Market Report?
• Market Size Forecast: Examine the artificial intelligence (ai) in precision medicine market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the artificial intelligence (ai) in precision medicine market for a structured understanding.
• Key Players Overview: Analyze major players in the artificial intelligence (ai) in precision medicine market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the artificial intelligence (ai) in precision medicine market.
• Segment Contributions: Evaluate how different segments drive overall growth in the artificial intelligence (ai) in precision medicine market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the artificial intelligence (ai) in precision medicine market.
• Industry Challenges: Identify potential risks and obstacles affecting the artificial intelligence (ai) in precision medicine market.
• Competitive Landscape: Review strategic developments in the artificial intelligence (ai) in precision medicine market, including expansions, agreements, and new product launches.
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