The AI in oncology for analytical solutions market size is expected to see exponential growth in the next few years. It will grow to $3.47 billion in 2028 at a compound annual growth rate (CAGR) of 34.1%. Forecasted growth can be attributed to the rising demand for personalized medicine, increasing healthcare awareness, integration of multi-omics data, regulatory refinement, and the adoption of telemedicine and remote diagnostics. Major trends in the forecast period include collaborations and partnerships, continuous technological advancements, industry collaborations, research and development initiatives, and advancements in technology.
The increasing prevalence of cancer is anticipated to drive the growth of the AI in oncology for analytical solutions market in the future. Cancer encompasses a group of diseases characterized by the uncontrolled growth and spread of abnormal cells. AI in oncology for analytical solutions is utilized in cancer care to deliver personalized treatment, early detection, and enhanced patient outcomes, leveraging its capability to process large volumes of complex data quickly and efficiently. For instance, Macmillan Cancer Support, a UK-based healthcare charity organization, estimated that the number of people with cancer was 3 million in 2020 and is projected to rise to 3.5 million by 2025, 4 million by 2030, and 5.3 million by 2040, underscoring the increasing prevalence of cancer driving the demand for AI solutions in oncology.
Prominent companies in the AI in oncology for analytical solutions market are focusing on advancing AI technologies, including the development of new real-world data platforms to accelerate cancer research and enhance generative AI models in oncology. A real-world data platform integrates and manages observational data from diverse sources outside of conventional clinical research settings, such as electronic health records, health insurance claims, patient surveys, and disease registries. For instance, in October 2023, the Central Ohio Transit Authority in the US launched Vista, a new real-world data platform designed to expedite cancer research and enhance generative AI models in oncology. Vista integrates multiple databases, including the data portal database and the genomic database, to provide a comprehensive and standardized approach to managing cancer research data. Additionally, Vista is expected to facilitate data sharing, enhance data quality, and support various applications in oncology and other healthcare domains.
In December 2023, ConcertAI, an India-based medical research developer, acquired CancerLinQ, a US-based cancer treatment company specializing in AI-based data and analytics, aiming to establish the leading healthcare learning and research network in oncology. This acquisition seeks to provide members with upgraded quality reporting, industry-leading real-world data, and AI-powered solutions to accelerate clinical trials.
Major companies operating in the AI in oncology for analytical solutions market report are IBM Watson Health, NVIDIA Corporation, Siemens Healthineers, GE Healthcare, Tempus, DeepMind Health, Paige.AI, PathAI, Aidoc, Nucleai, HeartFlow, OWKIN, SOPHiA Genetics, Imagen Technologies, Butterfly Network, Atomwise, Enlitic, Inspirata, 3Scan, Zebra Medical Vision, Ibex Medical Analytics, Vuno Inc., Proscia, Google Health, Huiying Medical.
North America was the largest region in the AI In oncology for analytical solutions market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the AI in oncology for analytical solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the AI in oncology for analytical solutions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The AI in oncology for analytical solutions market consists of revenues earned by entities by providing services such as consulting services, implementation services, training services, medical imaging analysis services, genomic data interpretation services, and drug discovery and development solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. The AI in oncology for analytical solutions market also includes sales of AI-powered imaging tools, drug discovery and development devices, and recurrence monitoring systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
AI in oncology for analytical solutions involves the utilization of artificial intelligence (AI) technology within the oncology field to develop advanced analytical solutions for cancer research, diagnosis, and treatment. This technology aids healthcare professionals in making data-driven decisions, enhancing diagnostic accuracy, and customizing treatment plans.
The primary components in AI in oncology for analytical solutions include data licensing services, software solutions, analytics, and other related elements. Data licensing entails the process of granting or obtaining legal permission to utilize and access data, typically through a contractual agreement between the data provider (licensor) and the data user (licensee). These solutions encompass various treatment types such as chemotherapy, radiotherapy, immunotherapy, and others, catering to a wide array of cancer types including breast cancer, lung cancer, prostate cancer, colorectal cancer, brain tumors, kidney cancer, non-Hodgkin lymphoma, and bladder cancer.
The AI in oncology for analytical solutions market research report is one of a series of new reports that provides AI in oncology for analytical solutions market statistics, including AI in oncology for analytical solutions industry global market size, regional shares, competitors with a AI in oncology for analytical solutions market share, detailed AI in oncology for analytical solutions market segments, market trends and opportunities, and any further data you may need to thrive in the AI in oncology for analytical solutions industry. This AI in oncology for analytical solutions market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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Table of Contents
Executive Summary
AI In Oncology For Analytical Solutions Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on ai in oncology for analytical solutions market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description:
Where is the largest and fastest growing market for ai in oncology for analytical solutions ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The ai in oncology for analytical solutions market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Component: Data Licensing Services; Software Solutions; Analytics and Other Services2) By Treatment Type: Chemotherapy; Radiotherapy; Immunotherapy; Other Treatments
3) By Cancer Type: Breast Cancer; Lung Cancer; Prostate Cancer; Colorectal Cancer; Brain Tumor; Kidney Cancer; Non-Hodgkin Lymphoma; Bladder Cancer.
Key Companies Mentioned: IBM Watson Health; NVIDIA Corporation; Siemens Healthineers; GE Healthcare; Tempus
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- IBM Watson Health
- NVIDIA Corporation
- Siemens Healthineers
- GE Healthcare
- Tempus
- DeepMind Health
- Paige.AI
- PathAI
- Aidoc
- Nucleai
- HeartFlow
- OWKIN
- SOPHiA Genetics
- Imagen Technologies
- Butterfly Network
- Atomwise
- Enlitic
- Inspirata
- 3Scan
- Zebra Medical Vision
- Ibex Medical Analytics
- Vuno Inc.
- Proscia
- Google Health
- Huiying Medical
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | March 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 1.07 Billion |
Forecasted Market Value ( USD | $ 3.47 Billion |
Compound Annual Growth Rate | 34.1% |
Regions Covered | Global |