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Key Influencer in the AI In Cancer Diagnostics Market 2025: Rising Cancer Cases Propel Advances Artificial Intelligence Takes Center Stage In Cancer Diagnostics Driver
AI In Cancer Diagnostics Market
The escalating occurrence of cancer is anticipated to boost the expansion of artificial intelligence in the cancer diagnostics market in the future. As a conglomerate of ailments involving abnormal cell proliferation with a tendency to intrude or disseminate to other body parts, cancer's incorporation of AI aims to augment efficiency, precision, and personalized treatment alternatives, thereby improving cancer patient outcomes. For example, the National Cancer Institute, a government agency based in the US, projected in May 2024 that there will be approximately 2 million new cancer diagnoses in the U.S, with over 611,000 predicted deaths. By 2040, the global cancer cases are projected to climb to 29.9 million, with cancer-related fatalities rising to 15.3 million. Consequently, the escalating occurrence of cancer is fueling the expansion of artificial intelligence in the cancer diagnostics market.
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What is the projected compound annual growth rate (CAGR) of the ai in cancer diagnostics market from 2025 to 2034, and what factors influence it?
There has been a rapid expansion in the market size of AI in cancer diagnostics in the past few years. The market, projected to rise from $0.66 billion in 2024 to $0.79 billion in 2025, corresponds to a compound annual growth rate (CAGR) of 21.0%. Factors attributing to this growth during the historical period include rising cases of cancer, an influx of data in healthcare, favorable regulatory policies, emphasis on precision medicine, and broadening scope of AI beyond imaging.
The market size for AI in cancer diagnostics is anticipated to experience significant expansion in the coming period. The market is projected to reach the $1.64 billion mark in 2029, propelled by a compound annual growth rate (CAGR) of 19.9%. Factors such as the development of explainable AI, a worldwide surge in health information technology expenditures, the incorporation of electronic health records (EHR), the acceptance of personalized medicine, and continuous progress in AI algorithms are contributing to this growth in the forecast period. Key trends during this period include progress in imaging technologies, technological convergence, partnerships between healthcare and technology firms, the emergence of digital pathology, and automation in histopathology.
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How are the latest trends influencing the growth of the ai in cancer diagnostics market?
The AI in cancer diagnostics market is witnessing significant growth, particularly driven by major companies that provide AI-based digital pathology solutions for cancer detection. These companies utilize artificial intelligence algorithms to identify cancer and other diagnostic aspects across varied tissue types. This ensures precise and rapid cancer diagnosis, supports case prioritization, and guarantees consistent diagnoses. For example, Dedalus & Ibex Medical Analytics, a health software organization from Europe, in November 2023 introduced an all-inclusive AI-powered digital pathology methodology for cancer diagnosis throughout Europe. The motive behind this solution is to augment precision, provide AI-assisted decision support tools, simplify reporting, boost lab efficiency, and raise diagnostic certainty.
What are the major segments of the ai in cancer diagnostics market and their role in driving growth?
The AI in cancer diagnostics market covered in this report is segmented -
1) By Component: Software Solutions, Hardware, Services
2) By Cancer Type: Breast Cancer, Lung Cancer, Brain Tumor, Skin Cancer And Cervical Cancer, Prostate And Colorectal Cancer, Other Cancer Types
3) By Application: Screening And Diagnosis, Tumor Identification, Monitoring
4) By End User: Hospitals, Diagnostic Centers, Medical Research Institutes, Contract Research Organizations
Subsegments:
1) By Software Solutions: Machine Learning Software, Deep Learning Software, Image Analysis Software
2) By Hardware: AI-Powered Imaging Systems, Diagnostic Devices
3) By Services: AI Integration Services, Consulting And Training Services, Support And Maintenance Services
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Which regions are key players in the growth of the ai in cancer diagnostics market?
North America was the largest region in the artificial intelligence in cancer diagnostics market in 2024. The regions covered in the ai in cancer diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the ai in cancer diagnostics market?
Major companies operating in the AI in cancer diagnostics market report are Microsoft Corporation, IBM Corporation, Babylon Healthcare Services Ltd., Verily Life Sciences LLC, Tempus, Guardant Health, Lunit Inc., Paige AI Inc., Ada Health GmbH, Viz.ai Inc., Butterfly Network Inc., Insilico Medicine, BenevolentAI SA SA, Enlitic Inc., Ibex Medical Analytics, Kheiron Medical Technologies Limited, CureMetrix Inc., CancerIQ Inc., MultiplAI Health, Freenome Holdings Inc., SkinVision, Entopsis, Owkin, Imagen Technologies, Panakeia Technologies, EchoPixel Inc., X-Zell Inc., Cyrcadia Health, Oncora Medical, Xilis
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What Is Covered In The AI In Cancer Diagnostics Global Market Report?
• Market Size Forecast: Examine the ai in cancer diagnostics market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the ai in cancer diagnostics market for a structured understanding.
• Key Players Overview: Analyze major players in the ai in cancer diagnostics market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the ai in cancer diagnostics market.
• Segment Contributions: Evaluate how different segments drive overall growth in the ai in cancer diagnostics market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the ai in cancer diagnostics market.
• Industry Challenges: Identify potential risks and obstacles affecting the ai in cancer diagnostics market.
• Competitive Landscape: Review strategic developments in the ai in cancer diagnostics market, including expansions, agreements, and new product launches.
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