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Artificial Intelligence (AI) in Precision Medicine: A Leading Driver Behind Rising Prevalence Of Chronic Illnesses And Respiratory Disorders Drives The Artificial Intelligence In The Precision Medicine Market Market Expansion in 2025
Artificial Intelligence (AI) in Precision Medicine Market
What Will the Artificial Intelligence (AI) in Precision Medicine Industry Market Size Be by 2025?
The market size of artificial intelligence (AI) in precision medicine has seen an exponential surge in recent years. The market is projected to grow from $2.33 billion in 2024 to $3 billion in 2025, expanding at a compound annual growth rate (CAGR) of 28.9%. Factors attributing to this substantial growth during the historic period include the rise in available healthcare data, an increase in chronic disease incidences, advancements in genomic research, a heightened focus on personalized medicine, and better computational capabilities.
What's the Long-Term Growth Forecast for the Artificial Intelligence (AI) in Precision Medicine Market Size Through 2029?
The market size of artificial intelligence (AI) in precision medicine is projected to witness significant growth in the upcoming years, with an expected value of $9.18 billion in 2029, growing at a compound annual growth rate (CAGR) of 32.2%. The surge in growth during this period is anticipated due to the expanding precision medicine initiatives, a mounting requirement for predictive analytics in healthcare, the development of genomics-based treatments, and a boost in the funding for AI in precision medicine research. Key trends in the forecast period encompass AI-powered biomarker discovery, a rise in the application of natural language processing in healthcare, improved patient stratification via AI, optimization of clinical trials empowered by AI, and tailor-made treatment strategies through AI-driven decision support systems.
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What Are the Key Growth Drivers Fueling the Artificial Intelligence (AI) in Precision Medicine Market Expansion?
The increasing frequency of chronic ailments and respiratory diseases is anticipated to fuel the development of artificial intelligence in the precision medicine market. Chronic illnesses are long-term medical conditions that necessitate ongoing medical care, while respiratory disorders affect the lungs and airways. Artificial intelligence plays a vital role in precision medicine by diagnosing and predicting the outcomes of patients with respiratory diseases based on clinical data and chest images. It also effectively reduces costs and maximizes the use of resources in the treatment of chronic diseases. For example, in May 2023, the United States-based intergovernmental organization, the United Nations, predicted that chronic diseases like cardiovascular disease, cancer, diabetes, and respiratory diseases would represent 86% of the projected 90 million deaths by 2050. Additionally, the Australian Institute of Health and Welfare, an Australian government agency, reported in June 2024 that the mortality rate linked to chronic conditions rose from 459 deaths per 100,000 individuals in 2021 to 490 deaths per 100,000 individuals in 2022. Thus, the widespread occurrence of chronic illnesses and respiratory conditions is expected to boost the growth of artificial intelligence in the precision medicine market.
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What Are the Key Trends Driving Artificial Intelligence (AI) in Precision Medicine Market Growth?
The emergence of innovative life sciences solutions powered by artificial intelligence (AI) is a top trend in the AI in precision medicine sector. Key players in this market have made substantial strides in big data analytics to maintain their relevance. For example, in May 2023, Google LLC, an American technology firm, launched a breakthrough AI-based life sciences solution aimed at expediting the processes of drug discovery and precision medicine. The Target and Lead Identification Suite, designed to enhance the efficiency of drug development in silico, was created to aid research groups in forecasting protein structure and in determining amino acid functions with increased precision.
How Is the Artificial Intelligence (AI) in Precision Medicine Market Segmented?
The artificial intelligence (AI) in precision medicine market covered in this report is segmented -
1) By Component: Hardware, Software, Service
2) By Technology: Deep Learning, Querying Method, Natural Language Processing, Context Aware Processing
3) By Therapeutic Application: Oncology, Cardiology, Neurology, Respiratory, Other Therapeutic Applications
Subsegments:
1) By Hardware: AI Processors, High-Performance Computing Systems, Diagnostic Devices
2) By Software: AI Algorithms And Models, Data Analytics Platforms, Genomic Analysis Software, Clinical Decision Support Systems
3) By Service: Consulting Services, Integration Services, Maintenance And Support Services, Training And Education Services
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Which Companies Are Leading the Charge in Artificial Intelligence (AI) in Precision Medicine Market Innovation?
Major companies operating in the artificial intelligence (AI) in precision medicine market include Alphabet Inc., Microsoft Corporation, Intel Corporation, International Business Machines Corporation, AstraZeneca PLC, Sanofi S.A., NVIDIA Corporation, GE HealthCare Technologies Inc., Illumina Inc., QIAGEN N.V., Helix Inc., Sema4 Holdings Corp., SOPHiA GENETICS SA, Insilico Medicine, BenevolentAI Limited, Fabric Genomics Inc., Tempus Technologies Inc., Enlitic Inc., PathAI Inc., Genuity Science Inc., BERG LLC, Perthera Inc., Vuno Inc., CureMetrix Inc., AITIA International Inc., Zephyr AI, Freenome Inc., PetaGene Ltd., Suki AI Inc., BioXcel Therapeutics Inc.
Which Regions Are Leading the Global Artificial Intelligence (AI) in Precision Medicine Market in Revenue?
North America was the largest region in the artificial intelligence (AI) in the precision medicine market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) in precision medicine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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