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Artificial Intelligence in Cancer Diagnosis and Therapy Market with Rapid Growth Forecast Through 2031
Artificial Intelligence in Cancer Diagnosis and Therapy Market
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According to the latest research by InsightAce Analytic, the global Artificial Intelligence in Cancer Diagnosis and Therapy market is valued at 285.90 Million in 2022, and it is expected to reach 1371.16 Million by the year 2031, with a CAGR of 19.2% during a forecast period of 2022-2031.
Cancer, characterized by abnormal cell growth, remains one of the leading causes of mortality globally. Early detection and treatment are critical to improving patient survival rates. Artificial intelligence (AI), a branch of computer science focused on replicating intelligent behavior in machines, is increasingly being utilized in the diagnosis and treatment of cancer. AI-powered technologies enable the identification of complex patterns within data that may be undetectable by human analysis, facilitating more accurate forecasting of cancer development and progression. These advanced systems are also employed in the discovery of novel therapeutics and the development of personalized cancer treatment regimens.
The growing demand for precision medicine and early cancer detection, alongside advancements in sophisticated AI technologies, are key factors driving market expansion. The rising global incidence of cancer, particularly in low- and middle-income countries that account for approximately 70% of cancer-related deaths, further underscores the market's growth potential. Additionally, the integration of multidisciplinary platforms and improvements in prognostic accuracy through cutting-edge AI and machine learning techniques have significantly enhanced the prediction of cancer susceptibility, recurrence, and overall outcomes. Collectively, these factors are expected to propel revenue growth in the AI-driven cancer diagnosis and treatment market throughout the forecast period.
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North America is anticipated to be the major contributor to the Artificial Intelligence in Cancer Diagnosis and Therapy market over the forecast years. This region's substantial share can be attributable to the presence of essential market players and the rising prevalence of cancer. According to the American Cancer Society, around 1,762,450 new cancer cases are predicted to be diagnosed in 2019, with 606,880 individuals dying from cancer in the United States. To combat this issue, the region is actively deploying AI. Cancer tumour profiling has significantly increased clinical and research uses in this region. In addition, the Asia Pacific Artificial Intelligence in Cancer Diagnosis and Therapy market is expected to grow considerably during the forecast period because of increased investment in AI healthcare startups, more significant usage of AI in sickness diagnosis, and its ability to provide numerous areas of patient care.
Major market players operating in the Artificial Intelligence in Cancer Diagnosis and Therapy market include
Pfizer Inc., Therapixel, Sophia Genetics, Janssen Global Services, LLC., PathAI, IBM, Microsoft, Oracle, OncoHealth, and Ancora Medical.
Recent collaborations and agreements in the market:
• In September 2021, The Center for Devices and Radiological Health of the Digital Health Center of Excellence released the Artificial Intelligence/Machine Learning (AI/ML)-Based Software as a Medical Device (SaMD) Action Plan. The FDA's Center for Devices and Radiological Health (CDRH) recommends comprehensive regulations for these technologies based on the entire product lifecycle. These regulations will allow modifications based on learning and adaptation from real-world experience while maintaining the safety and efficacy of software as a medical device.
• In January 2021, A cooperation agreement for the AI-driven clinical interpretation platform ClinOme was struck by 4baseCare, a Precision Oncology startup backed by Illumina Accelerator and the Advanced Centre for Treatment, Research, and Education in Cancer (ACTREC) - Tata Memorial Centre. Through this collaboration, it will be possible for clinicians to offer patients with cancer-tailored treatment plans by developing a native platform that delivers data insights and streamlined reports.
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Market Segments
Global Artificial Intelligence in Cancer Diagnosis and Therapy Market, by Surgery Type, 2022-2030 (Value US$ Mn)
• Radiotherapy
• Chemotherapy
• Immunotherapy
• Precision Therapy
• Phototherapy
• Gene Therapy
• Sonodynamic Therapy
Global Artificial Intelligence in Cancer Diagnosis and Therapy Market, by Cancer Type, 2022-2030 (Value US$ Mn)
• Breast Cancer
• Lung Cancer
• Melanoma Cancer
• Colorectal Cancer
• Prostate Cancer
• Others
Global Artificial Intelligence in Cancer Diagnosis and Therapy Market, by End-Use, 2022-2030 (Value US$ Mn)
• Hospitals
• Cancer Research Center
• Diagnostic Labs
Global Artificial Intelligence in Cancer Diagnosis and Therapy Market, by region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Artificial Intelligence in Cancer Diagnosis and Therapy Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Artificial Intelligence in Cancer Diagnosis and Therapy Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Artificial Intelligence in Cancer Diagnosis and Therapy Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Artificial Intelligence in Cancer Diagnosis and Therapy Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Artificial Intelligence in Cancer Diagnosis and Therapy Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
Why should buy this report:
To receive a comprehensive analysis of the prospects for the global Artificial Intelligence in Cancer Diagnosis and Therapy market
To receive an industry overview and future trends of the Artificial Intelligence in Cancer Diagnosis and Therapy market
To analyze the Artificial Intelligence in Cancer Diagnosis and Therapy market drivers and challenges
To get information on the Artificial Intelligence in Cancer Diagnosis and Therapy market value (US$Mn) forecast to 2030
Significant investments, mergers & acquisitions in the Artificial Intelligence in Cancer Diagnosis and Therapy market industry
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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