Overview and Scope
AI in cancer diagnostics refers to the use of artificial intelligence technologies, such as machine learning and deep learning, to analyze medical images, genetic data, or patient histories to assist in the early detection, diagnosis, and prognosis of cancer. These systems can recognize patterns and anomalies in data that might be imperceptible to humans, increasing diagnostic accuracy and efficiency.
Sizing and Forecast
The ai in cancer diagnostics market size has grown exponentially in recent years. It will grow from $0.55 billion in 2023 to $0.66 billion in 2024 at a compound annual growth rate (CAGR) of 20.5%. The growth in the historic period can be attributed to increasing cancer incidence rates, data explosion in healthcare, supportive regulatory environment, focus on precision medicine, expansion of ai applications beyond imaging.
The ai in cancer diagnostics market size is expected to see exponential growth in the next few years. It will grow to $1.38 billion in 2028 at a compound annual growth rate (CAGR) of 20.3%. The growth in the forecast period can be attributed to emergence of explainable ai, global increase in healthcare it spending, integration with electronic health records (ehr), personalized medicine adoption, continued advances in ai algorithms. Major trends in the forecast period include advancements in imaging technologies, technological convergence, collaborations between healthcare and tech companies, rise of digital pathology, automation in histopathology.
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Segmentation & Regional Insights
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
North America was the largest region in the artificial intelligence in cancer diagnostics market in 2023. 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.
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Major Driver Impacting Market Growth
The increasing prevalence of cancer is expected to propel the growth of artificial intelligence in the cancer diagnostics market going forward. Cancer is a group of diseases involving abnormal cell growth with the potential to invade or spread to other parts of the body. The integration of AI in cancer care aims to enhance efficiency, accuracy, and personalized treatment options, ultimately improving outcomes for cancer patients. For instance, in May 2021, according to the National Library of Medicine, a US-based medicine library, the global cancer burden is expected to be 28.4 million cases in 2040, a 47% rise from 2020, with many deaths. Therefore, the increasing prevalence of cancer is driving the growth of artificial intelligence in the cancer diagnostics market.
Key Industry Players
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, 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
The ai in cancer diagnostics market report table of contents includes:
- Executive Summary
- AI In Cancer Diagnostics Market Characteristics
- AI In Cancer Diagnostics Market Trends And Strategies
- AI In Cancer Diagnostics Market – Macro Economic Scenario
- Global AI In Cancer Diagnostics Market Size and Growth
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- Global AI In Cancer Diagnostics Market Competitive Dashboard
- Key Mergers And Acquisitions In The AI In Cancer Diagnostics Market
- AI In Cancer Diagnostics Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global AI In Cancer Diagnostics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global AI In Cancer Diagnostics Market, Segmentation By Cancer Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global AI In Cancer Diagnostics Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 75: Microsoft Corporation Financial Performance
Table 76: IBM Corporation Financial Performance
Table 77: Babylon Healthcare Services Ltd. Financial Performance
Table 78: Verily Life Sciences LLC Financial Performance
Table 79: Tempus Financial Performance
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