Growth Trajectory Of The Artificial Intelligence In Oncology Market 2024-2033
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
The rising incidence of cancer cases is expected to propel the growth of the AI in oncology market going forward.
- Cancer incidence is on the rise, with an estimated increase in new cases from 1.8 million to 1.9 million in 2023, according to the American Cancer Society Inc.
- Integration of AI into oncology offers potential for precise, personalized, and efficient cancer care.
- Rising cancer cases are a key driver for the growth of the AI in oncology market.
Innovative Cloud-Based Software Revolutionizes AI In Oncology Market
Major companies in the AI in oncology market focus on developing innovative software, including cloud-based solutions, to enhance efficacy.
- Cloud-based software provides scalability, flexibility, and accessibility for processing and analyzing large medical data volumes.
- Illumina Inc. launched Connected Insights, a cloud-based software, in March 2023, streamlining interpretation and reporting of assay results.
Kheiron Medical Technologies And Atlas Medical LLC Join Forces To Advance Breast Cancer Detection With Mia AI Screening Product
Partnerships like Kheiron Medical Technologies and Atlas Medical LLC aim to advance breast cancer detection using AI.
- Mia, a breast cancer screening product, aids radiologists in precise cancer detection and diagnosis.
- The partnership combines Kheiron’s AI expertise with Atlas Medical’s diagnostic kit manufacturing capabilities.
Market Segmentation
The AI in oncology market is segmented based on various factors:
- Component: Software Solutions, Hardware, Services
- Treatment Type: Chemotherapy, Radiotherapy, Immunotherapy, Other Treatment Types
- Cancer Type: Breast Cancer, Lung Cancer, Prostate Cancer, Colorectal Cancer, Brain Tumor, Other Cancer Types
- Application: Cancer Detection, Drug Discovery, Drug Development, Other Applications
- End-Users: Hospitals, Diagnostic Centers, Pharmaceutical Companies, Research Institutes, Other End Users
Regional Insights
The AI in oncology market exhibits regional variations:
- North America led the market in 2023.
- Asia-Pacific is forecasted to be the fastest-growing region.
Conclusion
The AI in oncology market is witnessing exponential growth, driven by factors such as rising cancer incidence, data proliferation, and demand for personalized medicine. Innovative technologies like cloud-based software and strategic partnerships further fuel market expansion. As AI continues to revolutionize cancer care, the future holds immense potential for advancements in treatment, diagnosis, and patient outcomes.
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