Artificial Intelligence in Cancer Diagnostics Market Size Worth $8,390.1 Million By 2032 | CAGR: 28.5%

The global artificial intelligence in cancer diagnostics market size is expected to reach USD 8,390.1 million by 2032, according to a new study by Polaris Market Research. The report 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” gives a detailed insight into current market dynamics and provides analysis on future market growth.

AI has become a powerful tool for detecting abnormal cell growth and improving early-stage cancer diagnosis. With machine learning, AI algorithms can effectively identify the presence of cancer cells and predict their development. The demand for early and accurate cancer detection has propelled the introduction of AI technologies in cancer diagnostics, contributing to the industry's growth.

Globally, cancer remains a major cause of mortality, claiming approximately 10 million lives in 2020 alone, as reported by the World Health Organization (WHO). By enabling early detection, AI can potentially prevent many of these deaths, emphasizing its importance in the fight against cancer.

The utilization of AI in cancer screening and diagnosis holds immense potential for early detection, driving the market's growth. AI and machine learning models can analyze pathology and radiology images, providing precise cancer diagnoses compared to observations based solely on doctors' experience. A notable example is the development of an AI algorithm in 2019 by researchers from the National Institutes of Health and Global Good.

This algorithm accurately analyzes digital images of women's cervix, identifying potentially cancerous precancerous changes. This breakthrough highlights the transformative impact of AI in enhancing cancer diagnostics and is expected to fuel market growth in the future.

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AI offers a powerful solution for detecting abnormal cell growth in the body, particularly in the early stages of cancer. Through machine learning techniques, AI and ML can effectively identify and monitor the growth of cancer cells. It is crucial to a growing demand for early and accurate cancer detection. The introduction of AI technologies in cancer diagnostics is expected to impact the industry's growth positively.

However, it is important to note that the COVID-19 pandemic harmed the demand for AI in cancer diagnosis. The focus of the healthcare sector shifted towards managing the increasing number of COVID-19 cases, due to a temporary slowdown in the implementation of AI technologies in cancer diagnostics.

Artificial Intelligence in Cancer Diagnostics Market Report Highlights

• In 2022 the screening and diagnosis segment accounted for the highest revenue share. By enhancing the accuracy and efficiency of cancer detection, AI in screening and diagnosis improves patient outcomes. The significant revenue share highlights the growing importance of AI in this crucial aspect of cancer diagnostics.
• In 2022, the breast cancer segment held the largest share of Artificial Intelligence in the Cancer Diagnostics Market. It is one of the most common types of cancer globally, and early detection is crucial for effective treatment and improved patient outcomes. The utilization of AI in breast cancer diagnostics has gained significant attention due to its dominant market share within the broader field of AI in cancer diagnostics.
• In 2022 North America dominated the global Artificial Intelligence in Cancer Diagnostics Market. It has a high prevalence of cancer and a strong emphasis on early detection and effective treatment. It creates a significant demand for advanced diagnostic solutions, such as AI-powered tools, to improve accuracy and efficiency in cancer detection and diagnosis.
• The global key market players include 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.

Polaris Market Research has segmented the artificial intelligence in cancer diagnostics market report based on application, cancer type, end-use, and region:

Artificial Intelligence in Cancer Diagnostics, Application Outlook (Revenue - USD Million, 2019 - 2032)

• Screening & Diagnosis
• Tumor Identification
• Surveillance
• Treatment

Artificial Intelligence in Cancer Diagnostics, Cancer Type Outlook (Revenue - USD Million, 2019 - 2032)

• Breast Cancer
• Prostate Cancer
• Lung Cancer
• Colorectal Cancer
• Cervical Cancer
• Others

Artificial Intelligence in Cancer Diagnostics, End-Use Outlook (Revenue - USD Million, 2019 - 2032)

• Hospitals
• Diagnostic centers
• Medical Research Institute
• Contract Research Organization
• Other

Artificial Intelligence in Cancer Diagnostics, Regional Outlook (Revenue - USD Million, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Artificial Intelligence in Cancer Diagnostics Market Report Scope