Artificial Intelligence (AI) In Oncology Market
Artificial Intelligence (AI) In Oncology Market Size, Share & Trends Analysis Report By Component (Software, Hardware, And Services), By Cancer Type (Breast, Cancer, Lung Cancer, Prostate Cancer, Colorectal Cancer, Brain Tumor, And Others), By Treatment Type (Into Chemotherapy, Radiation Therapy, Immunotherapy, And Others), And By Application (Cancer Detection, Drug Discovery, Drug Development, And Others), Forecast Period (2023-2030)
Intelligence (AI) in oncology market is anticipated to grow at a CAGR of 32.6% during the forecast period (2023-2030). The industry growth is attributed to increased demand for precise cancer diagnosis and early treatment across the global. AI algorithms can accurately assess medical images and data, lowering the possibility of human error in identifying and classifying diseases such as HER2 in breast cancer. Treatment choices can be implemented more successfully as a result of this increased accuracy. Continuous technological innovation by market players is flourishing market growth. For instance, in July 2023, PathAI launched AIM-HER2 breast cancer, an artificial intelligence-powered HER2 scoring algorithm for biopharma research and clinical labs. AIM-HER2 Breast Cancer's visualizations on AISight utilize the power of additive multiple instance learning (aMIL) heatmaps in addition to predicting slide-level HER2 scores to provide a more comprehensive image.
Segmental Outlook
The global artificial intelligence (AI) in the oncology market is segmented on the component, cancer type, treatment type, and application. Based on the component, the market is sub-segmented into software, hardware, and services. Based on the cancer type, the market is sub-segmented into breast, cancer, lung cancer, prostate cancer, colorectal cancer, brain tumor, and others. Based on the treatment type, the market is sub-segmented into chemotherapy, radiation therapy, immunotherapy, and others. Furthermore, based on application, the market is sub-segmented into cancer detection, drug discovery, drug development, and others. The software subcategory is expected to capture a significant portion of the market share within the component segment. This is attributed to the new entrepreneurial startups that provide innovative solutions to cancer therapy and prediction backed by funding from key industry players. For instance, in September 2023, cancer detection technology startup Adela announced it secured $48 million in funding, bringing its total raise to $108 million. The funding will be used to advance the company's technology. Adela will also use the proceeds to commercialize its tissue-agnostic measurable residual disease (MRD) product and continue developing its multi-cancer early-detection product, both of which are based on its methylation enrichment platform.
The Breast Cancer Sub-Segment is Anticipated to Hold a Considerable Share of the Global Artificial intelligence (AI) in Oncology Market
Among the applications, the breast cancer sub-segment is expected to hold a considerable share of the global AI in oncology market. The segmental growth is attributed to the growing demand for personalized therapy. AI can be used to process genetic and molecular data to create tailored treatment plans for breast cancer patients. This can assist in selecting treatments that are most suited to the individual while minimizing potential side effects. According to Cancer.net, in February 2023, it was estimated that 2,261,419 new cases of breast cancer were diagnosed in women globally. In the US, more women are diagnosed with breast cancer than any other type of cancer besides skin cancer. It is estimated that in 2023, 297,790 women in the US diagnosed with invasive breast cancer, and 55,720 women will be diagnosed with non-invasive (in situ) breast cancer. Since the mid-2000s, the number of invasive breast cancer cases in women has increased by roughly half a percent each year. Additionally, an estimated 2,800 men in the US were diagnosed with invasive breast cancer in 2023. Breast cancer is the fifth leading cause of death globally and the second most common cause of death from cancer in women in the US after lung cancer. The number of breast cancer deaths has decreased significantly since 2020, owing to early detection, treatment improvements, and greater awareness of the disease, which has prevented more than 460,000 deaths. Black women are diagnosed less often with breast cancer than White women, however, they have a 40% higher death rate from the disease.
Regional Outlook
The global artificial intelligence (AI) in oncology market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, Asia-Pacific is anticipated to grow at a considerable CAGR owing to an increasing number of older individuals, and rising incidence of cancer cases in the region. For instance, according to the National Institute of Health (Gov.), in March 2023, GLOBOCAN predicted that cancer cases in India would increase to 2.08 million, accounting for a rise of 57.5% in 2040 from 2020.
Global Artificial Intelligence (AI) in Oncology Market Growth by Region 2023-2030
The North America Region is Leading in the Global Artificial intelligence (AI) in Oncology Market
Among all regions, the North American region is contributing to the highest market share in 2022 attributed to the rising early diagnosis and detection across the region. To identify cancer at an earlier, more curable stage, AI is being used to assess medical pictures such as radiology and pathology slides. In addition to lowering the burden of cancer, this can considerably improve patient outcomes. According to the National Institute of Health (gov.), in June 2023, nowadays, cancer is a major global public health issue, with 19.3 million new cases and 10 million deaths reported each year. Lung cancer is the most common cause of cancer death, with an expected 1.8 million fatalities, followed by stomach, liver, colorectal, and breast cancer. In the US, cancer is the second leading cause of death after heart disease, with an estimated 1.9 million new cases and 609,820 deaths from cancer in 2023. The International Agency for Research on Cancer (IARC) has provided a poster listing known causes and preventive measures for cancer by organ site.
Estimated Number of Cancer Cases
Source: National Institute of Health (gov.)
Market Players Outlook
The major companies serving AI in oncology market include Amazon Web Service, Inc., Google, LLC, IBM Corp., Intel Corp., Microsoft Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in September 2023, Microsoft and healthcare technology company Paige launched a partnership to create the world’s largest image-based artificial intelligence (AI) models for digital pathology and oncology.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in global AI in oncology market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies. Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global AI in Oncology Market by Component
4.1.1. Software
4.1.2. Hardware
4.1.3. Services
4.2. Global AI in Oncology Market by Cancer Type
4.2.1. Breast Cancer
4.2.2. Lung Cancer
4.2.3. Prostate Cancer
4.2.4. Colorectal Cancer
4.2.5. Brain Tumor
4.2.6. Others (Pancreatic Cancer, and Ovarian Cancer)
4.3. Global AI in Oncology Market by Treatment Type
4.3.1. Chemotherapy
4.3.2. Radiation Therapy
4.3.3. Immunotherapy
4.3.4. Others (Surgery, and Targeted Therapies)
4.4. Global AI in Oncology Market by Application
4.4.1. Cancer Detection
4.4.2. Drug Discovery
4.4.3. Drug Development
4.4.4. Others (Patient Education and Support, and Survivorship and Quality of Life Enhancement)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Amazon Web Service, Inc.
6.2. Azra AI.
6.3. CanSAR.ai
6.4. Clinithink
6.5. ConcertAI LLC
6.6. Exscientia plc
6.7. F. Hoffmann-La Roche, Ltd.
6.8. Google, LLC
6.9. Ibex Medical Analytics, Ltd.
6.10. IBM Corp.
6.11. Intel Corp.
6.12. Intelligent OMICS Ltd (Intellomx)
6.13. Microsoft Corp.
6.14. Medtronic Plc
6.15. Merck Group
6.16. NVIDIA Corp.
6.17. Owkin, Inc.
6.18. PathAI, Inc.
6.19. Pfizer, Inc.
6.20. Siemens Healthcare GmbH
1. GLOBAL AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
2. GLOBAL AI SOFTWARE IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
3. GLOBAL AI HARDWARE IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
4. GLOBAL AI SERVICES IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
5. GLOBAL AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY CANCER TYPE, 2022-2030 ($ MILLION)
6. GLOBAL AI IN BREAST CANCER MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
7. GLOBAL AI IN LUNG CANCER MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
8. GLOBAL AI IN PROSTATE CANCER MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
9. GLOBAL AI IN COLORECTAL CANCER MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
10. GLOBAL AI IN BRAIN TUMOR MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
11. GLOBAL AI IN OTHERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
12. GLOBAL AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY TREATMENT TYPE, 2022-2030 ($ MILLION)
13. GLOBAL AI IN CHEMOTHERAPY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
14. GLOBAL AI IN RADIATION THERAPY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
15. GLOBAL AI IN IMMUNOTHERAPY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
16. GLOBAL AI IN ONCOLOGY TREATMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
17. GLOBAL AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
18. GLOBAL AI IN CANCER DETECTION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
19. GLOBAL AI IN CANCER DRUG DISCOVERY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
20. GLOBAL AI IN CANCER DRUG DEVELOPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
21. GLOBAL AI IN OTHER ONCOLOGY APPLICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
22. GLOBAL AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
23. NORTH AMERICAN AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
24. NORTH AMERICAN AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
25. NORTH AMERICAN AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY CANCER TYPE, 2022-2030 ($ MILLION)
26. NORTH AMERICAN AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY TREATMENT TYPE, 2022-2030 ($ MILLION)
27. NORTH AMERICAN AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
28. EUROPEAN AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
29. EUROPEAN AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
30. EUROPEAN AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY CANCER TYPE, 2022-2030 ($ MILLION)
31. EUROPEAN AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY TREATMENT TYPE, 2022-2030 ($ MILLION)
32. EUROPEAN AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
33. ASIA-PACIFIC AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
34. ASIA-PACIFIC AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
35. ASIA-PACIFIC AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY CANCER TYPE, 2022-2030 ($ MILLION)
36. ASIA-PACIFIC AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY TREATMENT TYPE, 2022-2030 ($ MILLION)
37. ASIA-PACIFIC AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
38. REST OF THE WORLD AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
39. REST OF THE WORLD AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022-2030 ($ MILLION)
40. REST OF THE WORLD AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY CANCER TYPE, 2022-2030 ($ MILLION)
41. REST OF THE WORLD AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY TREATMENT TYPE, 2022-2030 ($ MILLION)
42. REST OF THE WORLD AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
1. GLOBAL AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2022 VS 2030 (%)
2. GLOBAL AI SOFTWARE IN ONCOLOGY MARKET SHARE ANALYSIS BY REGION, 2022 VS 2030 (%)
3. GLOBAL AI HARDWARE IN ONCOLOGY MARKET SHARE ANALYSIS BY REGION, 2022 VS 2030 (%)
4. GLOBAL AI SERVICES IN ONCOLOGY MARKET SHARE ANALYSIS BY REGION, 2022 VS 2030 (%)
5. GLOBAL AI IN ONCOLOGY MARKET SHARE ANALYSIS BY REGION, 2022 VS 2030 (%)
6. GLOBAL AI IN BREAST CANCER MARKET SHARE ANALYSIS BY REGION, 2022 VS 2030 (%)
7. GLOBAL AI IN LUNG CANCER MARKET SHARE ANALYSIS BY REGION, 2022 VS 2030 (%)
8. GLOBAL AI IN PROSTATE CANCER MARKET SHARE ANALYSIS BY REGION, 2022 VS 2030 (%)
9. GLOBAL AI IN COLORECTAL CANCER MARKET SHARE ANALYSIS BY REGION, 2022 VS 2030 (%)
10. GLOBAL AI IN BRAIN TUMOR MARKET SHARE ANALYSIS BY REGION, 2022 VS 2030 (%)
11. GLOBAL AI IN OTHERS MARKET SHARE ANALYSIS BY REGION, 2022 VS 2030 (%)
12. GLOBAL AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY TREATMENT TYPE, 2022 VS 2030 (%)
13. GLOBAL AI IN CHEMOTHERAPY MARKET SHARE ANALYSIS BY REGION, 2022 VS 2030 (%)
14. GLOBAL AI IN RADIATION THERAPY MARKET SHARE ANALYSIS BY REGION, 2022 VS 2030 (%)
15. GLOBAL AI IN IMMUNOTHERAPY MARKET SHARE ANALYSIS BY REGION, 2022 VS 2030 (%)
16. GLOBAL AI IN ONCOLOGY TREATMENT MARKET SHARE ANALYSIS BY REGION, 2022 VS 2030 (%)
17. GLOBAL AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022 VS 2030 (%)
18. GLOBAL AI IN CANCER DETECTION MARKET SHARE ANALYSIS BY REGION, 2022 VS 2030 (%)
19. GLOBAL AI IN CANCER DRUG DISCOVERY MARKET SHARE ANALYSIS BY REGION, 2022 VS 2030 (%)
20. GLOBAL AI IN CANCER DRUG DEVELOPMENT MARKET SHARE ANALYSIS BY REGION, 2022 VS 2030 (%)
21. GLOBAL AI IN OTHER ONCOLOGY APPLICATION MARKET SHARE ANALYSIS BY REGION, 2022 VS 2030 (%)
22. GLOBAL AI IN ONCOLOGY MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
23. US AI IN ONCOLOGY MARKET SIZE, 2022-2030 ($ MILLION)
24. CANADA AI IN ONCOLOGY MARKET SIZE, 2022-2030 ($ MILLION)
25. UK AI IN ONCOLOGY MARKET SIZE, 2022-2030 ($ MILLION)
26. FRANCE AI IN ONCOLOGY MARKET SIZE, 2022-2030 ($ MILLION)
27. GERMANY AI IN ONCOLOGY MARKET SIZE, 2022-2030 ($ MILLION)
28. ITALY AI IN ONCOLOGY MARKET SIZE, 2022-2030 ($ MILLION)
29. SPAIN AI IN ONCOLOGY MARKET SIZE, 2022-2030 ($ MILLION)
30. REST OF EUROPE AI IN ONCOLOGY MARKET SIZE, 2022-2030 ($ MILLION)
31. INDIA AI IN ONCOLOGY MARKET SIZE, 2022-2030 ($ MILLION)
32. CHINA AI IN ONCOLOGY MARKET SIZE, 2022-2030 ($ MILLION)
33. JAPAN AI IN ONCOLOGY MARKET SIZE, 2022-2030 ($ MILLION)
34. SOUTH KOREA AI IN ONCOLOGY MARKET SIZE, 2022-2030 ($ MILLION)
35. REST OF ASIA-PACIFIC AI IN ONCOLOGY MARKET SIZE, 2022-2030 ($ MILLION)
36. LATIN AMERICA AI IN ONCOLOGY MARKET SIZE, 2022-2030 ($ MILLION)
37. MIDDLE EAST AND AFRICA AI IN ONCOLOGY MARKET SIZE, 2022-2030 ($ MILLION)
