The artificial intelligence in oncology global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Artificial Intelligence In Oncology Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The artificial intelligence in oncology market size has grown exponentially in recent years. It will grow from $1.33 billion in 2023 to $1.78 billion in 2024 at a compound annual growth rate (CAGR) of 33.7%. The growth in the historic period can be attributed to rising cancer incidence, data proliferation in healthcare, clinical trial optimization, demand for personalized medicine, efficiency in radiology and pathology.
The artificial intelligence in oncology market size is expected to see exponential growth in the next few years. It will grow to $5.63 billion in 2028 at a compound annual growth rate (CAGR) of 33.3%. The growth in the forecast period can be attributed to integration with electronic health records (ehr), expanded applications in treatment decision support, patient engagement and education, regulatory support and standardization. Major trends in the forecast period include integration of natural language processing (nlp) in healthcare, utilization of ai in biomarker discovery, focus on explainable ai for clinical adoption, integration of ai in population health management, collaborations between ai developers and healthcare providers, advancements in predictive analytics..
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Scope Of Artificial Intelligence In Oncology Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Artificial Intelligence In Oncology Market Overview
Market Drivers –
The rising incidence of cancer cases is expected to propel the growth of the AI in oncology market going forward. Cancer is a complex group of diseases characterized by the uncontrolled growth and division of abnormal cells in the body. The integration of AI into oncology has the potential to revolutionize cancer care by making it more precise, personalized, and efficient. For instance, in 2023, according to a report by the American Cancer Society Inc., a US-based voluntary health organization, the estimated number of new cancer cases increased from 1.8 million to 1.9 million. Therefore, the rising incidence of cancer cases is driving the growth of the AI in oncology market.
Market Trends –
Major companies operating in the AI in the oncology market are focusing on developing innovative software, such as cloud-based software, to enhance their efficacy and provide improved solutions. Cloud-based software plays a crucial role in AI applications in oncology by providing a scalable, flexible, and accessible platform for processing and analyzing large volumes of medical data. For instance, in March 2023, Illumina Inc., a US-based biotechnology company, launched Connected Insights, a new cloud-based software enabling tertiary analysis for oncology applications. With the help of the integration of external knowledge bases, Connected Insights streamlines the interpretation and reporting of results from various assay types, allowing labs to expand their usage of NGS (Next-Generation Sequencing) and speed up the turnaround time for clinical reporting.
The artificial intelligence in oncology market covered in this report is segmented –
1) By Component: Software Solutions, Hardware, Services
2) By Treatment Type: Chemotherapy, Radiotherapy, Immunotherapy, Other Treatment Types
3) By Cancer Type: Breast Cancer, Lung Cancer, Prostate Cancer, Colorectal Cancer, Brain Tumor, Other Cancer Types
4) By Application: Cancer Detection, Drug Discovery, Drug Development, Other Applications
5) By End-Users: Hospitals, Diagnostic Centers, Pharmaceutical Companies, Research Institutes, Other End Users
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Regional Insights –
North America was the largest region in the AI in oncology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence in oncology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the artificial intelligence in oncology market report are Azra AI, IBM Corporation, Siemens Healthcare GmbH, Intel Corporation, GE HealthCare, NVIDIA Corporation, Digital Diagnostics Inc., ConcertAI Inc., PathAI Inc., Median Technologies SA, Kheiron Medical Technologies Ltd, Hampton Research Inc., Tempus Labs Inc., Paige AI Inc., Prognos Health Inc., Enlitic, Inspirata Inc., Berg LLC, Proscia Inc., Prognos Health Inc., Deep 6 AI Inc., Ibex Medical Analytics, Nanox Imaging Ltd., Zebra Medical Vision, Globavir Biosciences Inc.
Table of Contents
1. Executive Summary
2. Artificial Intelligence In Oncology Market Report Structure
3. Artificial Intelligence In Oncology Market Trends And Strategies
4. Artificial Intelligence In Oncology Market – Macro Economic Scenario
5. Artificial Intelligence In Oncology Market Size And Growth
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27. Artificial Intelligence In Oncology Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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