Global AI in Cancer Diagnostics Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The Global AI in Cancer Diagnostics Market is estimated to be USD 147.61 Mn in 2023 and is expected to reach USD 400.91 Mn by 2028 growing at a CAGR of 22.12%.

Market dynamics, which refers to the ever-changing and evolving conditions, trends, and forces that impact the industries, is crucial for industry overview. It includes consumer demands, competition, technological advancements, economic shifts, and regulatory changes. We monitor the market and analyze the balance between demand and supply. Market dynamics that include drivers, restraints, opportunities, challenges, and insights are needed to make strategic decisions, whether entering new markets, launching new products, or setting pricing strategies.

The emerging trends in the market require market analysis to help set goals, make informed decisions about market entry and product development pricing, and inspire innovation to stay competitive and meet changing requirements. One of the most important elements is to analyze competitors to identify the gaps specific to the geographic location, product offerings, pricing, and opportunity areas for growth in internal and external development.

Understanding consumer behavior and market trends holistically is necessary to expand the company into new horizons and position itself in a new or existing market. It helps gain a competitive edge, save time & money, and reduce risks in the long term.

Market Segmentations

• The Global AI in Cancer Diagnostics Market is segmented based on Components, Cancer Type, End-Users, and Geography.
• By Cancer Type, the market is segmented based on Breast Cancer, Prostate Cancer, Lung Cancer, Colorectal Cancer, Cervical Cancer, and Others.
• According to the World Health Organization, around 2.3 million new cases of breast cancer were diagnosed in 2022, and 685,000 women died from the disease. The incidence of breast cancer varies greatly by region, with the highest rates being found in high-income countries. However, the overall burden of breast cancer is highest in low- and middle-income countries due to the large population size and limited access to early detection and treatment services. When breast cancer is detected early, before it has spread to other parts of the body, the chances of survival are much higher. In developed countries with good access to early detection and treatment, the five-year survival rate for breast cancer is around 90%. However, the five-year survival rate is significantly lower in low- and middle-income countries, at around 50%. Treatment can improve quality of life. Even if breast cancer cannot be cured, treatment can help to control the cancer and reduce the risk of recurrence. This can help to improve the quality of life for women with breast cancer.
• The prevalence of prostate cancer varies significantly across different regions of the world. According to the International Agency for Research on Cancer (IARC), the highest incidence rates of prostate cancer are found in Oceania, followed by North America and Europe. Conversely, the lowest incidence rates are observed in Africa and Asia.
• The reasons for these variations in incidence rates are not fully understood but are likely due to a combination of genetic, environmental, and lifestyle factors. For example, African-American men are
• more likely to develop prostate cancer than men of other races or ethnicities. This may be due to genetic factors and environmental factors such as exposure to certain chemicals or toxins.
• Prostate cancer is the second leading cause of cancer death in men worldwide. However, when diagnosed early and treated appropriately, the prognosis for prostate cancer is generally very good. Early detection and treatment can help to prevent the cancer from spreading and causing serious health problems. In some cases, prostate cancer may never cause any symptoms and does not require treatment. However, even in these cases, regular monitoring is important to ensure the cancer does not progress.

Recent Development

• Qure.ai and Therapixel partnered to enhance access to breast cancer detection through AI. This collaboration aims to leverage AI technology to improve breast cancer screening and diagnosis efficiency and accuracy. - February 2023

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Cancer Center.ai, EarlySign, Flatiron, Freenome, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global AI in Cancer Diagnostics Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global AI in Cancer Diagnostics Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global AI in Cancer Diagnostics Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market