Press release
AI In Oncology Market Surges As Cancer Incidence Continues To Rise Driver: A Major Catalyst in the Evolution of the Artificial Intelligence In Oncology Market in 2025
Artificial Intelligence In Oncology Market
The proliferation of cancer diagnoses is anticipated to drive the AI in oncology sector's expansion in the future. Cancer comprises an array of diseases marked by unrestricted abnormal cell growth and division within the body. Incorporating AI in oncology practices holds a promise of transforming cancer treatment, making it more accurate, individualized, and streamlined. For example, per a 2023 report by the American Cancer Society Inc., a philanthropic U.S. health organization, the projected number of fresh cancer diagnoses jumped from 1.8 million to 1.9 million. Hence, the upswing in cancer diagnoses fuels the AI in oncology industry's momentum. Artificial Intelligence In Oncology Market Driver: The Uptick In The Use Of Cloud-Based Solutions And Services By Pharmaceutical Companies
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What is the projected compound annual growth rate (CAGR) of the artificial intelligence in oncology market from 2025 to 2034, and what factors influence it?
The market size of artificial intelligence in oncology has seen a dramatic increase in the recent past. Its projected growth is from $1.78 billion in 2024 to $2.36 billion in 2025, a rise marked by a compound annual growth rate (CAGR) of 32.4%. The acceleration during the historic era can be credited to factors like escalating cancer rates, surge in healthcare data, optimization in clinical trials, need for individualized treatment, and improved efficiency in radiology and pathology.
Anticipated expansion in the artificial intelligence market within oncology is in the pipeline, with a compounded annual growth rate (CAGR) of 33.9% expected to propel it towards a value of $7.6 billion in 2029. This upswing can primarily be credited to the fusion of artificial intelligence with electronic health records (EHR), a surge in its applications for decisions related to medical care, patient interaction and awareness, regulatory aid, and normalization. Key trends to dominate the forecast period consist of the fusion of healthcare and natural language processing (NLP), the use of AI in the detection of biomarkers, an emphasis on understandable AI for acceptance at clinical level, integrating AI in modulating the health of populations, partnerships forming between AI creators and healthcare service providers, and progressions in predictive analytics.
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What new trends are reshaping the artificial intelligence in oncology market and its opportunities?
Prominent companies operating in the AI in the oncology market are focusing on the development of innovative technologies such as cloud-based software, to increase their effectiveness and provide superior solutions. The use of cloud-based software is pivotal in AI applications for oncology as it provides a scalable, versatile, and easily accessible platform for processing and analyzing abundant medical data. For example, in March 2023, Illumina Inc., a biotechnology company based in the US, introduced Connected Insights - a new cloud-based software that facilitates tertiary analysis for oncology applications. This software, through the integration of external knowledge databases, simplifies the interpretation and reporting of results from diverse assay types, enabling labs to broaden their application of NGS (Next-Generation Sequencing) and expedite the period for clinical reporting.
What are the major segments of the artificial intelligence in oncology market and their role in driving growth?
The artificial intelligence in oncology market covered in this report is segmented -
1) By Component: Software Solutions, Hardware, Services
2) By Treatment Type: Chemotherapy, Radiotherapy, Immunotherapy, Other Treatment Types
3) By Cancer Type: Breast Cancer, Lung Cancer, Prostate Cancer, Colorectal Cancer, Brain Tumor, Other Cancer Types
4) By Application: Cancer Detection, Drug Discovery, Drug Development, Other Applications
5) By End-Users: Hospitals, Diagnostic Centers, Pharmaceutical Companies, Research Institutes, Other End Users
Subsegments:
1) By Software Solutions: Diagnostic Software, Treatment Planning Software, Patient Management Software, Data Analytics Platforms
2) By Hardware: AI-Enabled Imaging Devices, High-Performance Computing Systems, Wearable Health Monitors
3) By Services: Consulting Services, Integration Services, Maintenance And Support Services
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Which regions are key players in the growth of the artificial intelligence in oncology market?
North America was the largest region in the AI in oncology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence in oncology 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 artificial intelligence in oncology market?
Major companies operating in the artificial intelligence in oncology market report are Azra AI, IBM Corporation, Siemens Healthcare GmbH, Intel Corporation, GE HealthCare, NVIDIA Corporation, Digital Diagnostics Inc., ConcertAI Inc., PathAI Inc., Median Technologies SA, Kheiron Medical Technologies Ltd., Hampton Research Inc., Tempus Labs Inc., Paige AI Inc., Prognos Health Inc., Enlitic, Inspirata Inc., Berg LLC, Proscia Inc., Prognos Health Inc., Deep 6 AI Inc., Ibex Medical Analytics, Nanox Imaging Ltd., Zebra Medical Vision, Globavir Biosciences Inc.
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What Is Covered In The Artificial Intelligence In Oncology Global Market Report?
• Market Size Forecast: Examine the artificial intelligence in oncology market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the artificial intelligence in oncology market for a structured understanding.
• Key Players Overview: Analyze major players in the artificial intelligence in oncology market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the artificial intelligence in oncology market.
• Segment Contributions: Evaluate how different segments drive overall growth in the artificial intelligence in oncology market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the artificial intelligence in oncology market.
• Industry Challenges: Identify potential risks and obstacles affecting the artificial intelligence in oncology market.
• Competitive Landscape: Review strategic developments in the artificial intelligence in oncology market, including expansions, agreements, and new product launches.
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