The global artificial intelligence in cancer diagnostics market accounted for USD 0.174 billion in 2023 and is expected to reach at USD 2.27 billion by 2034 with a CAGR of 26.31% during the forecast period 2024-2034. Growing need for early disease detection, increased healthcare IT spending, shortage of healthcare professionals, expanding government initiatives, surge in the number of startups & partnerships, increasing adoption of advanced technologies for cancer detection, and rising introduction of innovative platforms utilizing AI for cancer diagnosis are some of the key factors boosting the market growth.
Rising introduction of innovative platforms utilizing AI for cancer diagnosis is predicted to boost the market growth during the forecast period. Artificial Intelligence (AI) in cancer diagnostics involves the utilization of AI algorithms and techniques to examine medical data, aiding in the identification, diagnosis, and treatment of cancer. By employing sophisticated computational methods, AI analyzes extensive datasets, including medical images, genetic data, patient records, and clinical information, with the aim of enhancing cancer detection, diagnosis precision, and operational effectiveness. For instance, in February 2024, In partnership with the Centre for Development of Advanced Computing, Pune, the All India Institute of Medical Sciences (AIIMS) Delhi has introduced an Artificial Intelligence (AI) platform named iOncology.ai. This platform is specifically developed for the early detection of breast and ovarian cancer.
By component, software solutions was the highest revenue-grossing segment in the global artificial intelligence in cancer diagnostics market in 2023 owing to the increasing need for cloud-based diagnostic solutions augmented with AI, growing demand for precise & timely cancer diagnoses, along with the necessity to minimize false positives, and surge in the introduction of innovative software solutions. For instance, in March 2022, Paige has introduced Paige Breast Lymph Node, an AI-driven software designed to aid pathologists in identifying and assessing whether breast cancer has spread to lymph nodes. Additionally, services is predicted to grow at the fastest CAGR during the forecast period owing to the growing need for advanced technologies to enable early disease detection and increasing uptake of imaging technologies for diagnostic purposes.
By cancer type, breast cancer was the highest revenue-grossing segment in the global artificial intelligence in cancer diagnostics market in 2023 owing to the rising incidence of breast cancer, increasing need for advanced technologies for diagnosing the disease, and surge in the introduction of new platforms. For instance, in July 2023, PathAI has introduced AIM-HER2 Breast Cancer, an Artificial Intelligence-driven algorithm for scoring HER2, which can be employed by both biopharmaceutical research and clinical laboratories. Additionally, brain tumor is predicted to grow at the fastest CAGR during the forecast period owing to the increase in the occurrence of brain tumors, and the widespread adoption of AI-based algorithms in brain tumor diagnosis is expected to decrease diagnosis duration and improve accuracy.
By end-user, hospital was the highest revenue-grossing segment in the global artificial intelligence in cancer diagnostics market in 2023 owing to the increasing trend of incorporating AI algorithms & solutions into hospital workflows & platforms, shortages in healthcare staff, growing need for early cancer diagnosis, and surge in the development of innovative solutions by industry leaders. For instance, in Jan 2024, Researchers at the Perelman School of Medicine have developed an application called iStar, which provides clinicians with information about gene activities in medical images, aiding them in diagnosing cancers. Additionally, surgical centers & medical institutes is predicted to grow at the fastest CAGR during the forecast period owing to the extensive utilization of AI-driven algorithms aims to expedite & improve cancer diagnoses while reducing the occurrence of false positives and negatives, ultimately leading to better patient outcomes. These platforms are increasingly being adopted by a variety of medical institutions and surgical centers.
North America region is anticipated for the highest revenue share during the forecast period owing to the rise in funding allocated for the development of AI capabilities, escalating incidence of cancer, growing adoption of healthcare IT solutions & digital infrastructure, increasing awareness regarding the application of Artificial Intelligence (AI) in cancer diagnostics, and surge in the uptake of advanced technologies. For instance, in October 2023, Ibex Medical Analytics (Ibex), a frontrunner in AI-driven cancer diagnostics, and CorePlus Servicios Clínicos y Patológicos, LLC (CorePlus), a clinical and anatomic pathology laboratory with high complexity CLIA certification, revealed that CorePlus has employed Galen, Ibex's AI-powered cancer diagnostics platform, to diagnose more than 10,000 cases. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increase in government initiatives prompting healthcare providers & organizations to adopt AI-based cancer diagnostic technologies, growing investments by market players to enhance clinical outcomes, rising patient awareness, and growing trend of partnerships among market players. For instance, in May 2023, Lunit has established a collaboration with Japan National Cancer Center Hospital East to advance precision oncology through the utilization of Lunit SCOPE, an AI-based biomarker platform.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Rising introduction of innovative platforms utilizing AI for cancer diagnosis is predicted to boost the market growth during the forecast period. Artificial Intelligence (AI) in cancer diagnostics involves the utilization of AI algorithms and techniques to examine medical data, aiding in the identification, diagnosis, and treatment of cancer. By employing sophisticated computational methods, AI analyzes extensive datasets, including medical images, genetic data, patient records, and clinical information, with the aim of enhancing cancer detection, diagnosis precision, and operational effectiveness. For instance, in February 2024, In partnership with the Centre for Development of Advanced Computing, Pune, the All India Institute of Medical Sciences (AIIMS) Delhi has introduced an Artificial Intelligence (AI) platform named iOncology.ai. This platform is specifically developed for the early detection of breast and ovarian cancer.
By component, software solutions was the highest revenue-grossing segment in the global artificial intelligence in cancer diagnostics market in 2023 owing to the increasing need for cloud-based diagnostic solutions augmented with AI, growing demand for precise & timely cancer diagnoses, along with the necessity to minimize false positives, and surge in the introduction of innovative software solutions. For instance, in March 2022, Paige has introduced Paige Breast Lymph Node, an AI-driven software designed to aid pathologists in identifying and assessing whether breast cancer has spread to lymph nodes. Additionally, services is predicted to grow at the fastest CAGR during the forecast period owing to the growing need for advanced technologies to enable early disease detection and increasing uptake of imaging technologies for diagnostic purposes.
By cancer type, breast cancer was the highest revenue-grossing segment in the global artificial intelligence in cancer diagnostics market in 2023 owing to the rising incidence of breast cancer, increasing need for advanced technologies for diagnosing the disease, and surge in the introduction of new platforms. For instance, in July 2023, PathAI has introduced AIM-HER2 Breast Cancer, an Artificial Intelligence-driven algorithm for scoring HER2, which can be employed by both biopharmaceutical research and clinical laboratories. Additionally, brain tumor is predicted to grow at the fastest CAGR during the forecast period owing to the increase in the occurrence of brain tumors, and the widespread adoption of AI-based algorithms in brain tumor diagnosis is expected to decrease diagnosis duration and improve accuracy.
By end-user, hospital was the highest revenue-grossing segment in the global artificial intelligence in cancer diagnostics market in 2023 owing to the increasing trend of incorporating AI algorithms & solutions into hospital workflows & platforms, shortages in healthcare staff, growing need for early cancer diagnosis, and surge in the development of innovative solutions by industry leaders. For instance, in Jan 2024, Researchers at the Perelman School of Medicine have developed an application called iStar, which provides clinicians with information about gene activities in medical images, aiding them in diagnosing cancers. Additionally, surgical centers & medical institutes is predicted to grow at the fastest CAGR during the forecast period owing to the extensive utilization of AI-driven algorithms aims to expedite & improve cancer diagnoses while reducing the occurrence of false positives and negatives, ultimately leading to better patient outcomes. These platforms are increasingly being adopted by a variety of medical institutions and surgical centers.
North America region is anticipated for the highest revenue share during the forecast period owing to the rise in funding allocated for the development of AI capabilities, escalating incidence of cancer, growing adoption of healthcare IT solutions & digital infrastructure, increasing awareness regarding the application of Artificial Intelligence (AI) in cancer diagnostics, and surge in the uptake of advanced technologies. For instance, in October 2023, Ibex Medical Analytics (Ibex), a frontrunner in AI-driven cancer diagnostics, and CorePlus Servicios Clínicos y Patológicos, LLC (CorePlus), a clinical and anatomic pathology laboratory with high complexity CLIA certification, revealed that CorePlus has employed Galen, Ibex's AI-powered cancer diagnostics platform, to diagnose more than 10,000 cases. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increase in government initiatives prompting healthcare providers & organizations to adopt AI-based cancer diagnostic technologies, growing investments by market players to enhance clinical outcomes, rising patient awareness, and growing trend of partnerships among market players. For instance, in May 2023, Lunit has established a collaboration with Japan National Cancer Center Hospital East to advance precision oncology through the utilization of Lunit SCOPE, an AI-based biomarker platform.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Component, Cancer Type, and End-user
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of Top 10+ Major Market Players
Segmentation: Artificial Intelligence In Cancer Diagnostics Market Report 2023 - 2034
Artificial Intelligence In Cancer Diagnostics Market Analysis & Forecast by Component 2023 - 2034 (Revenue USD Bn)
- Hardware
- Services
- Software Solutions
Artificial Intelligence In Cancer Diagnostics Market Analysis & Forecast by Cancer Type 2023 - 2034 (Revenue USD Bn)
- Lung Cancer
- Breast Cancer
- Brain Tumor
- Colorectal Cancer
- Prostate Cancer
- Others
Artificial Intelligence In Cancer Diagnostics Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Hospital
- Surgical Centers & Medical Institutes
- Others
Artificial Intelligence In Cancer Diagnostics Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Artificial Intelligence In Cancer Diagnostics Market: Component Estimates & Trend Analysis
8. Artificial Intelligence In Cancer Diagnostics Market: Cancer Type Estimates & Trend Analysis
9. Artificial Intelligence In Cancer Diagnostics Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Artificial Intelligence In Cancer Diagnostics Market
12. Europe Global Artificial Intelligence In Cancer Diagnostics Market
13. Asia Pacific Global Artificial Intelligence In Cancer Diagnostics Market
14. Latin America Global Artificial Intelligence In Cancer Diagnostics Market
15. MEA Global Artificial Intelligence In Cancer Diagnostics Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Paige AI Inc.
- Microsoft
- EarlySign
- Ibex Medical Analytics (Ibex)
- Tempus
- Therapixel
- Flatiron
- Cancer Center.ai
- Path AI
- Kheiron Medical Technologies Limited
