AI In Oncology For Analytical Solutions Market Growth Accelerates: Strategic Forecast Predicts $4.66 Billion by 2029

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What Will the AI In Oncology For Analytical Solutions Industry Market Size Be by 2025?
The market size for AI in oncology for analytical solutions has rapidly expanded in the latest years. It is projected to surge from $1.07 billion in 2024 to $1.44 billion in 2025, with an impressive compound annual growth rate (CAGR) of 34.4%. The expansion in previous years is due to several factors like greater availability of healthcare data, increased knowledge and recognition, progress in machine learning algorithms, governmental efforts and funding, as well as clinical acceptance.

What's the Long-Term Growth Forecast for the AI In Oncology For Analytical Solutions Market Size Through 2029?
The market size of analytical solutions in oncology utilizing AI is projected to witness significant expansion in the upcoming years. The estimation is around $4.66 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 34.1%. The predicted growth during the forecast period can be associated with factors such as the growing demand for tailor-made medicine, amplified health awareness, incorporation of multi-omics data, improved regulations, telemedicine, and remote diagnostic services. The market dynamics of the forecast period are expected to be influenced by collaborations and partnerships, incessant advancement of technology, industry collaboration, and the initiative of research and development along with technological progress.

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What Are the Key Growth Drivers Fueling the AI In Oncology For Analytical Solutions Market Expansion?
The escalating occurrence of cancer is anticipated to drive the expansion of AI in oncology for the analytical solutions market. Cancer entails a cluster of illnesses marked by the unchecked multiplication and proliferation of irregular cells. Analytical solutions of AI in oncology are employed in oncology care to offer customized treatment, quick detection, and enhance patient results due to its capacity to handle vast quantities of intricate data swiftly and efficiently. For example, as per the National Cancer Institute, a government agency in the U.S., by May 2024, an estimated 2 million new cancer cases are set to be discovered in the U.S., with a projected figure of over 611,000 deaths. By 2040, the global numbers for new cancer cases are projected to escalate to 29.9 million, with an increase in cancer-related deaths to 15.3 million. Hence, the escalating occurrence of cancer is fueling the AI in oncology for the analytical solutions market.

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What Are the Key Trends Driving AI In Oncology For Analytical Solutions Market Growth?
Key players in the analytical solutions sector of AI in oncology are concentrating their efforts on the creation of AI breakthroughs, like the introduction of real-world data platforms geared towards speeding up cancer-focused research and fostering growth in AI models specific to oncology. A real-world data platform is essentially a system that combines and supervises observational data from a multitude of sources that are not usually part of traditional clinical research environments. Such sources might include electronic health records, health insurance claim data, patient questionnaires, and disease registers. For example, The Central Ohio Transit Authority, a company headquartered in the United States, unveiled their new real-world data platform called Vista in October 2023. The goal of Vista is to aid in the acceleration of cancer research and contribute to the improvement of AI models in oncology. Vista is designed to offer a comprehensive, standardised method of overseeing cancer research data by amalgamating several databases, like the data portal database and genomic database. On top of that, Vista is projected to boost data sharing, enhance data quality, and provide support for numerous applications across oncology and other healthcare departments.

How Is the AI In Oncology For Analytical Solutions Market Segmented?
The AI in oncology for analytical solutions market covered in this report is segmented -

1) By Component: Data Licensing Services, Software Solutions, Analytics and Other Services
2) By Treatment Type: Chemotherapy, Radiotherapy, Immunotherapy, Other Treatments
3) By Cancer Type: Breast Cancer, Lung Cancer, Prostate Cancer, Colorectal Cancer, Brain Tumor, Kidney Cancer, Non-Hodgkin Lymphoma, Bladder Cancer

Subsegments:
1) By Data Licensing Services: Oncology Data Licensing, Genomic Data Licensing
2) By Software Solutions: AI-Based Imaging Software, Diagnostic Software, Clinical Decision Support Software
3) By Analytics And Other Services: Predictive Analytics Services, AI Training And Support Services, Data Analysis Services

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Which Companies Are Leading the Charge in AI In Oncology For Analytical Solutions Market Innovation?
Major companies operating in the AI in oncology for analytical solutions market report are IBM Watson Health, NVIDIA Corporation, Siemens Healthineers, GE Healthcare, Tempus, DeepMind Health, Paige.AI, PathAI, Aidoc, Nucleai, HeartFlow, OWKIN, SOPHiA Genetics, Imagen Technologies, Butterfly Network, Atomwise, Enlitic, Inspirata, 3Scan, Zebra Medical Vision, Ibex Medical Analytics, Vuno Inc., Proscia, Google Health, Huiying Medical

Which Regions Are Leading the Global AI In Oncology For Analytical Solutions Market in Revenue?
North America was the largest region in the AI In oncology for analytical solutions market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ai in oncology for analytical solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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