The global artificial intelligence in cancer diagnostics market size was estimated at USD 367.71 million in 2021 and it is expected to surpass around USD 5.3 billion by 2030, poised to grow at a CAGR of 34.51% from 2022 to 2030.
The global artificial intelligence in cancer diagnostics market size was estimated at USD 367.71 million in 2021 and it is expected to surpass around USD 5.3 billion by 2030, poised to grow at a CAGR of 34.51% from 2022 to 2030.
The global artificial intelligence in cancer diagnostics market is expected to witness growth from 2022 to 2030 owing to growing technological advancement in the healthcare sector, growing demand for early detection of cancer, and increasing investment in research in cancer. The demand to improvise the efficiency and efficacy of cancer diagnosis and treatment has led to include new artificial intelligence (AI) technologies. AI allows the integration of a wide variety of streams such as electronic health records, genomics, pathology, radiographic images, and social networks to predict clinical decisions. Within cancer imaging, AI is used to perform 3 major steps detection, classification, and tumor monitoring. The introduction of swarm learning in AI technology allows for predicting cancer through medical images of samples of patient tissues without the need of data from hospitals.
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Based on application the market is segmented into screening and diagnosis, tumor identification, and surveillance. Promising application of artificial intelligence, deep learning, machine learning can be used to identify the stage of cancer learning in detecting, characterizing micro movement of cancer, providing appropriate therapeutic options for each individual and predicting patient’s response to immune therapy. Pancreatic and Ovarian cancers are rare but lethal at the same time, as they lack early symptoms that makes their detection difficult. In such cases AI and ML are highly useful to predict detection and therapies. Key players are investing heavily to expand AI technology in cancer diagnosis segments. For instance, in 2022, Whiterabbit.ai signed an agreement with Arterys to expand its AI technology for early detection of cancer. This AI driven partnership is expected to significantly enhance the breast cancer screening volume and compliance.
Scope of The Report
|
Report Coverage |
Details |
|
Market Size in 2021 |
USD 367.71 million |
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Revenue Forecast by 2030 |
USD 5.3 billion |
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Growth rate from 2022 to 2030 |
CAGR of 34.51% |
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Base Year |
2021 |
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Forecast Period |
2022 to 2030 |
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Segmentation |
Application, Cancer Type, End-Use, Region |
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Companies Covered |
Roche, EarlySign, IBM, Pfizer, Microsoft, RaySearch Laboratories, Flatiron, cancer center, and others |
On the basis of cancer type the market is segmented into Breast Cancer, Prostate Cancer, Lung Cancer, Colorectal Cancer, Cervical Cancer, Others. The growing prevalence of cancer throughout the world is expected to fuel the segment’s growth. As per the statistics provided by WHO, cancer is one of the leading causes of death worldwide. About 10 million deaths were caused due to cancer in 2020. Increasing consumption of alcohol, and tobacco, physical inactivity, unhealthy diet, and rising burden of pollution are some of the major risk factors that increase the burden of cancer cases.
Based on end-users, the market is segregated into hospitals, diagnostic centers, and other. The increasing number of disease-specific diagnostic centers and growing initiatives of the government to expand healthcare structure even in remote areas are expected to fuel the market growth. An increasing number of trained staffs, and professionals are further expected to fuel the market’s growth in the coming future.
On the basis of region, the market has been segmented into North America, Asia Pacific, Europe, Latin America, and MEA. The presence of key players, increasing establishments of start-ups, advancement in the healthcare sectors and presence of favorable regulations are expected to fuel the growth in economically stronger regions. An increasing prevalence of cancer due to the adoption of a sedentary lifestyle is one of the major causes of the market’s growth. For instance, as per the statistics of CDC, in the U.S., annually there will be 2,286,300 cases of cancer by 2050. Owing to these factors, the adoption of AI-based solutions in cancer diagnostics is gaining impetus across the globe.
Strategic initiatives in the form of mergers & acquisitions, product launches, partnerships and collaborations is supporting the market growth. For instance, on July 2022, Roche and EarlySign signed a partnership to develop and commercialize their LungFlag technology. The major focus of their partnership is to make early diagnosis of lung cancer widely available for population.
Key Players
- Roche
- EarlySign
- IBM
- Pfizer
- Microsoft
- RaySearch Laboratories
- Flatiron
- cancer center
- others
Market Segmentation
- By Application
- Screening & Diagnosis
- Tumor Identification
- Surveillance
- By Cancer Type
- Breast Cancer
- Prostate Cancer
- Lung Cancer
- Colorectal Cancer
- Cervical Cancer
- Others
- By End-Use
- Hospitals
- Diagnostic centers
- Medical Research Institute
- Contract Research Organization
- Other
- By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
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