AI In Oncology For Analytical Solutions Growth Forecast 2025-2034: Trends, Opportunities, and Key Insights You Need to Know
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What is the Predicted CAGR for the AI In Oncology For Analytical Solutions Market Over the Forecast Period of 2025 to 2034?
The market size for AI in oncology for analytical solutions has seen rapid expansion in the past few years. The market value is expected to rise from $1.07 billion in 2024 to $1.44 billion in 2025, with a compound annual growth rate (CAGR) of 34.4%. The past growth can be credited to factors including increased accessibility to healthcare data, heightened awareness and acceptance, progress in machine learning algorithms, as well as government support and funding, and clinical acceptance.
In the coming years, the market size for AI in oncology analytical solutions is predicted to experience a surge. The forecast suggests it’ll expand to $4.66 billion by 2029, driving with a compound annual growth rate (CAGR) of 34.1%. Several factors contributing to this projected growth during the forecast period include the growing demand for personalized medicine, amplified healthcare awareness, the incorporation of multi-omics data, regulatory improvements, telemedicine, and remote diagnostics. The forecast period will also notice significant trends like strategic collaborations and partnerships, constant technological upgrades, collaboration within the industry, R&D initiatives, and technological progressions.
What Drivers Are Shaping the Growth of the ai in oncology for analytical solutions Market?
The increasing instances of cancer are predicted to boost the AI in oncology sector specifically for analytical solutions. The term ‘cancer’ is used to describe a set of diseases recognized by the unrestrained proliferation and dissemination of abnormal cells. The role of AI in oncology for analytical solutions is to customize treatment for cancer, detect it early, and enhance patient results by swiftly and effectively processing vast quantities of complex data. For instance, the National Cancer Institute, a government agency in the US, predicted in May 2024 that around 2 million new instances of cancer will be diagnosed in the US in 2024, with a projection of over 611,000 fatal cases. By 2040, the global new cases of cancer are anticipated to surge to 29.9 million, alongside a rise in deaths related to cancer to 15.3 million. Hence, the increasing prevalence of cancer is the driving force for the AI in oncology for analytical solutions market.
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Who Are the Top Companies Driving Innovation and Growth in the AI In Oncology For Analytical Solutions Market?
Major companies operating in the AI in oncology for analytical solutions market report are:
• IBM Watson Health_x000D_
• NVIDIA Corporation_x000D_
• Siemens Healthineers_x000D_
• GE Healthcare_x000D_
• Tempus_x000D_
What Key Trends Are Currently Impacting the AI In Oncology For Analytical Solutions Market’s Development?
Major players in the analytical solutions sector of AI in oncology are concentrating their efforts on the advancement of AI technology, including the development of novel real-world data platforms aimed at expediting cancer research and enhancing generative AI models in oncology. A real-world data platform is a system that amalgamates and manages observational information garnered from a variety of sources beyond traditional clinical research environments, including electronic health records, health insurance claims, patient surveys, and disease registries. A case in point is the U.S. based Central Ohio Transit Authority, which ushered in a new real-world data platform known as Vista in October 2023, with the goal of accelerating cancer research and improving generative AI models in oncology. The ultimate objective of this platform is to render a comprehensive and systematic methodology for handling cancer research data by combining several databases such as the data portal database and the genomic database. Furthermore, Vista is predicted to stimulate data sharing, elevate data quality, and cater to a multitude of applications not only in the domain of oncology but other healthcare sectors as well.
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What Are the Core Categories and Segments in the AI In Oncology For Analytical Solutions Market Driving Demand and Growth?
The AI in oncology for analytical solutions market covered in this report is segmented –
1) By Component: Data Licensing Services, Software Solutions, Analytics and Other Services
2) 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
Subsegments:
1) By Data Licensing Services: Oncology Data Licensing, Genomic Data Licensing
2) By Software Solutions: AI-Based Imaging Software, Diagnostic Software, Clinical Decision Support Software
3) By Analytics And Other Services: Predictive Analytics Services, AI Training And Support Services, Data Analysis Services
Which Geographical Regions Are Pioneering Growth in the AI In Oncology For Analytical Solutions Market?
North America was the largest region in the AI In oncology for analytical solutions market in 2024. 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.
What Are the Key Characteristics That Define the AI In Oncology For Analytical Solutions Market?
AI in oncology for analytical solutions refers to the use of artificial intelligence (AI) technology in the field of oncology to develop advanced analytical solutions for cancer research, diagnosis, and treatment. It helps healthcare professionals make data-driven decisions, improve diagnostic accuracy, and tailor treatment plans.
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