Press release
Artificial Intelligence in Cancer Diagnostics Market Projected to Reach USD 2,174.26 Million by 2034, Growing at a 25.9% CAGR
Artificial Intelligence in Cancer Diagnostics Market
Market Summary:
Artificial intelligence (AI) exudes the power to transform cancer research, diagnosis, and cure through its analytical power. AI is the usage of algorithmic mathematical principles that mimic the operations of the human mind to confront the paramount intricacy subjected to healthcare units such as those placed by deformities of biological systems like cancer.
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It is expected that AI will have have notable influence on everyday life and will dominate digital healthcare for the detection and cure of illness in the future. By utilizing extensive data sets, technological progressions in AI and machine learning in cancer detection have unfurled the way for autonomous neuropathy illness diagnostic instruments to confront the provocations of human illness discernment at excessively premature stages, especially in cancer.
Market Drivers:
Growing Cases of Cancer Worldwide: The growing incidence of cancer worldwide is the notable driver for the acquisition of AI in cancer diagnostics. As per the World Health Organization (WHO), roughly 20 million cancer cases were registered in 2022, causing 9.7 million deaths. This growing weight entails progressive diagnostic instruments to ease premature detection and enhance patient results. AI technologies offer the possibility to inspect critical medical data productively, helping in the premature detection of cancerous conditions, thus having a favorable impact on artificial intelligence in cancer diagnostics market sales.
Advancements in AI Algorithms: Progressions in AI algorithms in diagnostics, especially in machine learning and deep learning, have improved the preciseness and productivity of cancer diagnostics. The integration of AI with progressive imaging technologies such as MRI and CT scans has enhanced the accuracy of cancer inspection, which encourages the adoption of these progressively integrated devices.
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Key Market Players:
The market is characterized by the existence of many key players and concentration on technological inventions and strategic alliances. Some of the companies which are currently dominating the artificial intelligence in cancer diagnostics market are:
• Aidoc Medical Ltd.
• DeepMind Technologies Limited
• Enlitic, Inc.
• Flatiron Health, Inc. (A subsidiary of Roche)
• GE Healthcare Technologies Inc.
• Guardant Health, Inc.
• IBM Corporation
• Kheiron Medical Technologies Limited
• Microsoft Corporation
• Paige.AI, Inc.
• PathAI, Inc.
• Qure.ai Technologies Private Limited
• Siemens Healthineers AG
• Tempus Labs, Inc.
• Zebra Medical Vision Ltd.
Developments in the Artificial Intelligence in Cancer Diagnostics Industry:
• September 2024: PathAI, Inc. introduced MET Predict on the AISight Image Management System (IMS), an AI-powered algorithm designed to assist pathologists in detecting non-small cell lung cancer (NSCLC) tumors that exhibit MET exon 14 skipping (METex14) or MET amplification through H&E whole slide images.
• September 2023: Microsoft formed a partnership with Paige to develop the world's largest image-based AI model for cancer detection. The model, which is being trained on up to four million digitized microscopy slides across various cancer types, utilizes Microsoft's cutting-edge supercomputing infrastructure. Once operational, the model is expected to significantly improve cancer diagnosis accuracy and efficiency, potentially enabling earlier detection and treatment for patients.
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Segment Categorization:
The report includes the segmentation of artificial intelligence in the cancer diagnostics market based on application, cancer type, end use, and region.
Based on application, the screening and diagnosis segment held the largest market share in 2024, owing to the integration of AI technologies in medical imaging and pathology.
Based on cancer type, the breast cancer segment dominated the market in 2024 due to growing cases of breast cancer worldwide, entailing progressive diagnostic instruments for premature detection and cure.
By Application Outlook (Revenue - USD Million, 2020-2034)
• Screening & Diagnosis
• Tumor Identification
• Surveillance
• Treatment
By Cancer Type Outlook (Revenue - USD Million, 2020-2034)
• Breast Cancer
• Prostate Cancer
• Lung Cancer
• Colorectal Cancer
• Cervical Cancer
• Others
By End Use Outlook (Revenue - USD Million, 2020-2034)
• Hospitals
• Diagnostic Centers
• Medical Research Institute
• Contract Research Organization
• Other
Regional Perspective:
• North America
o US
o Canada
• Europe
o Germany
o France
o UK
o Italy
o Spain
o Netherlands
o Russia
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Malaysia
o South Korea
o Indonesia
o Australia
o Vietnam
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Israel
o South Africa
o Rest of Middle East & Africa
• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America
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