Press release
AI In Cancer Diagnostics Industry Report 2025-2034: Market Dynamics, Trends, And Forecasts
AI In Cancer Diagnostics
What Is the Expected AI In Cancer Diagnostics Market Size During the Forecast Period?
The market size of AI in cancer diagnostics has experienced exponential growth in recent times. The sector, which is projected to evolve from $0.66 billion in 2024 to $0.79 billion in 2025, anticipates a compound annual growth rate (CAGR) of 21.0%. Factors contributing to this increase during the historic period include a rise in cancer occurrences, a data boom in the healthcare sector, a favorable regulatory climate, an emphasis on precision medicine, and the extension of AI applications beyond imaging.
The market size for AI in cancer diagnostics is predicted to experience substantial growth over the upcoming years. By 2029, it is predicted to expand to $1.64 billion, with a Compound Annual Growth Rate (CAGR) of 19.9%. The expansion during this forecast period can be associated with the advent of explainable AI, a worldwide increase in healthcare IT expenditures, the incorporation with electronic health records (EHR), the acceptance of personalized medicine, and ongoing improvements in AI algorithms. Noteworthy trends during this period include progress in imaging technologies, technological amalgamation, partnerships between healthcare and technology firms, the emergence of digital pathology, and automation in histopathology.
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What Are the High-Growth Segments in the AI In Cancer Diagnostics Market?
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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What Key Drivers Are Expected to Influence Future AI In Cancer Diagnostics Market Growth?
The rise in cancer cases is anticipated to stimulate the expansion of artificial intelligence in the cancer diagnostics market. Cancer encompasses numerous diseases characterized by abnormal cell growth capable of invading or migrating to other body regions. The incorporation of AI into cancer treatment seeks to improve efficiency, precision, and tailor-made treatment plans, thereby enhancing the prognosis for patients with cancer. For instance, the National Cancer Institute, an agency of the US government, estimated in May 2024 that around 2 million fresh cancer diagnoses and over 611,000 projected deaths are anticipated in the U.S in 2024. Moreover, by 2040, the number of new cancer cases globally is projected to escalate to 29.9 million, with cancer-associated deaths surging to 15.3 million. Consequently, the escalating trend of cancer is facilitating the growth of artificial intelligence in the cancer diagnostics market.
Which Companies Hold the Largest Share Across Different AI In Cancer Diagnostics Market Segments?
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
What Trends Are Driving Growth in The AI In Cancer Diagnostics Market?
AI-powered digital pathology solutions for cancer diagnosis are driving remarkable growth in the AI for cancer diagnostics market. These AI solutions employ algorithms designed to spot cancer and other diagnostic characteristics in an array of tissue types, leading to precise and prompt cancer diagnoses while also bolstering case prioritization and consistent diagnoses. An example of such advancement was seen in November 2023 when Europe's health software entity, Dedalus & Ibex Medical Analytics, inaugurated a comprehensive end-to-end AI-based digital pathology solution for cancer diagnosis across the continent. This solution is intended to bolster diagnostic accuracy, offer AI-assisted decision-making tools, overhaul reporting, optimize laboratory productivity, and boost diagnostic certainty.
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What Are the Emerging Geographies for The AI In Cancer Diagnostics Market Growth?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the AI In Cancer Diagnostics Market?
2. What is the CAGR expected in the AI In Cancer Diagnostics Market?
3. What Are the Key Innovations Transforming the AI In Cancer Diagnostics Industry?
4. Which Region Is Leading the AI In Cancer Diagnostics Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
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