Artificial Intelligence in Cancer Diagnostics Market Share, Size, Trends, Industry Analysis Report, By Application (Screening & Diagnosis, Tumor Identification, Surveillance, Treatment); By Cancer Type; By End-Use; By Region; Segment Forecast, 2023 - 2032
- Published Date:Jul-2023
- Pages: 117
- Format: PDF
- Report ID: PM2592
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global artificial intelligence in cancer diagnostics market was valued at USD 687.9 million in 2022 and is expected to grow at a CAGR of 28.5% during the forecast period.
Artificial Intelligence (AI) in cancer diagnostics refers to applying AI techniques and algorithms to analyze medical data and assist in detecting, diagnosing, and treating cancer. It uses advanced computational methods to analyze large amounts of data, such as medical images, genetic information, patient records, and clinical data, to improve cancer detection, diagnosis accuracy, and efficiency.
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AI algorithms can analyze medical images, such as mammograms, CT scans, MRI scans, and pathology slides, to identify patterns and anomalies associated with cancer. AI-based image analysis systems can help radiologists detect tumors, characterize their properties, and track their growth over time.
AI models can integrate various patient data, including medical history, genetic information, lifestyle factors, and biomarker data, to assess an individual's risk of developing cancer. By analyzing multiple parameters, AI can identify high-risk individuals who may require further screening or preventive measures.
Various factors, including increased investment in cancer research, technological advancements in healthcare, and the need for early cancer detection, drive the demand for artificial intelligence (AI) in cancer diagnostics. AI technology assists in detecting, monitoring, and imaging cancer samples, simplifying the diagnostic process.
The growth of AI in the cancer diagnostics market is expected to be positively influenced by the rising demand for early cancer detection facilitated by AI technologies. These advancements enable healthcare professionals to detect cancer early, improving patient outcomes. AI aids in regular monitoring and centralized storage of diagnostic data, enhancing the diagnostic process.
However, the COVID-19 pandemic harmed the adoption of AI in cancer diagnostics. The medical sector's focus shifted towards addressing the increasing cases of COVID-19, due to a temporary slowdown in the adoption of AI and machine learning in cancer diagnostics.
Despite the challenges, the increasing prevalence of cancer worldwide drives the demand for AI solutions. AI enables efficient cancer diagnostics with regular monitoring and data storage. Additionally, the growth of startup companies offering global services in the field contributes to the expansion of AI in the cancer diagnostics market.
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Industry Dynamics
Growth Drivers
Increasing prevalence of cancer
The increasing global prevalence of cancer is a key factor driving the growth of the artificial intelligence in cancer diagnostics market. AI is leveraged to improve tumor detection, classification, and monitoring, offering enhanced efficiency and efficacy in cancer diagnosis. The advanced technologies in the healthcare industry to facilitate accurate cancer identification and screening, coupled with the emergence of startup companies in the field, further fuels the demand for AI in the cancer diagnostics market.
According to the World Health Organization (WHO), cancer is the second top cause of death worldwide. Consequently, there is a growing focus on cancer diagnosis research. One of the significant challenges in cancer treatment is detecting cancer at later stages rather than at early stages. However, using AI and machine learning algorithms can aid in accurate cancer diagnosis and provide improved analysis based on quantitative metrics.
Report Segmentation
The market is primarily segmented based on application, cancer type, end-use, and region.
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By Application |
By Cancer Type |
By End-Use |
By Region |
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Screening and diagnosis segment accounted for the highest revenue share in 2022
In 2022, the screening and diagnosis segment accounted for the highest revenue share, driven by artificial intelligence (AI) in tumor scanning and cancer stage detection. Deep learning and machine learning techniques play a crucial role in identifying the movement of cancer at a microscopic level, determining the cancer stage, guiding appropriate therapy options, and predicting the response to immune therapy for patients.
Pancreatic and ovarian cancers are particularly challenging to detect at early stages, but early detection becomes feasible with AI, machine learning, and deep learning. This technology has attracted significant investments from key players in the industry, further contributing to the growth of AI in cancer diagnostics. These advancements promise to improve the accuracy and efficiency of cancer detection, enabling timely interventions and personalized treatment approaches.
Lung cancer segment held the largest market share in 2022
In 2022, the breast cancer segment held the largest market share as it is the most prevalent type of cancer affecting women across all age groups. According to the World Health Organization (WHO), cancer is the main cause of death globally, underscoring the importance of research and development in this field.
The primary drivers of cancer incidence are alcohol and tobacco consumption, lack of physical activity, and poor dietary habits. To address the rising prevalence of cancer, the utilization of machine learning (ML) and artificial intelligence (AI) in detection of breast cancer at initial stages plays a significant role in the growth of AI in the cancer diagnostics market. Early detection allows for timely and appropriate treatment, lowering patient mortality rates.
North America dominated the global market in 2022
In 2022, the North American region dominated the global market in artificial intelligence in the cancer diagnostics market. North America benefits from the presence of major key players in the industry, contributing to the overall growth and development of advanced technologies. Additionally, the region experiences a significant influx of startup companies that bring innovation and drive competition.
Moreover, the healthcare sector in North America boasts a well-established infrastructure, facilitating the adoption and integration of artificial intelligence in cancer diagnostics. The region is also strongly committed to research and development activities, further accelerating industry growth.
Furthermore, favorable government rules and regulations in North America are crucial in promoting advancements in the healthcare sector, including implementing artificial intelligence in cancer diagnostics. These factors collectively position North America in the industry, propelling its dominance in the artificial intelligence in cancer diagnostics market.
Competitive Insight
Some of the major players operating in the global market include IBM, Sophia GeneticsTempus, Janssen Pharmaceutica, Microsoft, Cerner Corporation, RaySearch Laboratories, Google Deep Mind, Flatiron, Oncora Medical, Whiterabbit.ai, Ibex Medical Analytics, Oncology Analytics, Inc, 4baseCare, Path AI, Oracle, Therapixel, OncoHealth, Pfizer, and Others.
Recent Developments
- In August 2022, Whiterabbit.ai and Arterys entered into a national distribution agreement to expand the reach of Whiterabbit.ai's AI-powered technology for early-stage cancer detection. This collaboration aims to bring the benefits of advanced AI technology to a wider audience, enabling more effective and timely cancer detection at its early stages.
- In July 2022, EarlySign and Roche partnered to generate and commercialize their LungFlag technology. This collaboration centers around the shared objective of making early lung cancer diagnosis widely accessible to the population.
Artificial Intelligence in Cancer Diagnostics Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 875.4 million |
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Revenue forecast in 2032 |
USD 8,390.1 million |
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CAGR |
28.5% from 2023 – 2032 |
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Base year |
2022 |
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Historical data |
2019 – 2021 |
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Forecast period |
2023 – 2032 |
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Quantitative units |
Revenue in USD million and CAGR from 2023 to 2032 |
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Segments Covered |
By Application, By Cancer Type, By End-Use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key Companies |
IBM, Sophia GeneticsTempus, Janssen Pharmaceutica, Microsoft, Cerner Corporation, RaySearch Laboratories, Google Deep Mind, Flatiron, Oncora Medical, Whiterabbit.ai, Ibex Medical Analytics, Oncology Analytics, Inc, 4baseCare, Path AI, Oracle, Therapixel, OncoHealth, Pfizer, and Others. |
FAQ's
The artificial intelligence in cancer diagnostics market report covering key segments are application, cancer type, end-use, and region.
Artificial Intelligence in Cancer Diagnostics Market Size Worth $8,390.1 Million By 2032.
The global artificial intelligence in cancer diagnostics market is expected to grow at a CAGR of 28.5% during the forecast period.
North America is leading the global market.
key driving factors in artificial intelligence in cancer diagnostics market are increasing prevalence of cancer.
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