AI in Oncology Market – Size, Analysis, Forecast & Competition Benchmarking

Report Format

Report ID – HGRI3327

Report Segment | Healthcare > HealthTech


AI in Oncology Market Overview:

The market for AI in Oncology was valued at XX Mn USD in the year 2023 and expected to reach XX Mn by the year 2030. The CAGR for the market is XX% during the period 2019 -2030.

AI in Oncology is a transformative tool which is changing the strategy to treat cancer. The market is expected to grow as there are rising cases of cancer and early and precise cancer diagnosis is needed .A GI GeniusTM intelligent endoscopy module was introduced by Medtronic plc in August 2022 which will help medical professionals identify colorectal cancer. An AI model has been developed which can determine whether cancerous tissue has been completely removed from the body during breast cancer surgery by collaboration between the UNC Department of Surgery and UNC Lineberger Comprehensive Cancer Centre. M2Gen and Zephyr AI partnered in February 2023 with the goal of advancing drug and target discovery for precision oncology treatments.

Ai in oncology market insights

AI in Oncology Market Dynamics:

Ai in oncology market challenges

AI in Oncology Market Report Segments Overview:

  • Treatment Type Segment Overview:
    • In the treatment segment chemotherapy held the biggest position. Further accelerating the growth of this segment is the rise in research activities aimed at integrating AI into chemotherapy. The market is expected to grow even faster due to the increased research being done on using AI in chemotherapy.Rapidly growing treatment segment is Immunotherapy as it is showing high efficacy towards cancer.
  • Cancer Type Segment Overview:
    • It is projected that the breast cancer industry will grow at the fastest rate. The majority of cases are related to breast cancer, which is a common type of cancer. It is anticipated that a major factor driving the segment’s growth will be the rising incidence of brain tumours among people worldwide.
  • Components Type Segment Overview:
    • The growth of this market segment can be attributed to the increasing number of companies offering software for managing and interpreting data, with a focus on oncology patients in need of follow-up care. Growth in this market is expected to be driven by the availability of several applications, such as radiation oncology, interventional radiology, and diagnostic imaging. A further factor contributing to the fastest predicted growth is the rise of new businesses offering innovative cancer treatment and prognostic technologies.
  • End User Type Segment Overview:
    • Research laboratories are the highest-earning end-user segment in this industry. The evaluation of medical professionals, highly skilled personnel, and cutting-edge equipment is another factor contributing to the growth. Pharmaceutical companies are the fastest-growing end-user market because they play a crucial role in the development of new drugs and in personalised medicine. Target identification and drug screening procedures are accelerated in the pharmaceutical industry by AI integration. In preclinical trials, BenevolentAI’s AI platform demonstrated a 40% success rate in identifying novel drug targets for cancer. Pharmaceutical companies have seen a significant increase in R&D efficiency by utilising AI.  

AI in Oncology Market Regional Outlook:

North America

The Market is dominated by North America. The US is a leading country with advanced digital infrastructure, regulatory frameworks, and growing government initiatives to promote the use of AI technology. One of the main reasons driving the expansion of the market under study in North America is an increase in government reimbursements in the United States.  According to a study done by the American Society of Clinical Oncology, in 2022, medical oncology treatment costs in the US were down by about 5%. (We need to make all the regional insights more detailed. Short description will not give a brief idea about the regional growth.)(Good job)

Asia Pacific: 

Japan is leading in the Asia Pacific region, which is predicted to grow at the fastest rate. The increase in digitalization adoption in diagnostic labs and hospitals is ascribed to the population growing and rising cancer prevalence. GE Healthcare and the National Cancer Centre Singapore partnered in June 2022 with the goal of utilising artificial intelligence to enhance cancer treatment. The goal of this partnership is to improve the prospects for treating particular cancer types. The market’s regional expansion is also a result of these initiatives.

Europe:

Europe due to world-class research institutions and significant investments in healthcare technology is the leading country in the UK.Europe is the top country in the UK because of its top-notch research institutions and large investments in medical technology. AI is being used extensively in the diagnosis and treatment of cancer by organisations like the German Cancer Research Centre (DKFZ). Together with other European nations, the Netherlands and Switzerland make substantial contributions to AI in cancer research in addition to these key countries.

South America: 

Brazil stands out in South America for its advancements in AI in oncology due to its burgeoning tech landscape, a growing pool of skilled professionals.Chile and Colombia, among other South American nations, are making significant advancements in incorporating artificial intelligence into the field of oncology. In Chile, there has been a notable increase in projects connected to artificial intelligence (AI). These include the implementation of AI-based methods to analyse medical images for cancer detection, resulting in a healthcare AI investment growth rate of around 9.2%.

Middle East & Africa: 

South Africa’s commitment to addressing the healthcare gap and personalised cancer care positions it as leading country in driving oncological innovation in the MEA. By 2030, the UAE plans to invest approximately $13.6 billion in AI technologies as part of its healthcare transformation efforts. Saudi Arabia has dedicated $54 billion through its National Transformation Program to advance healthcare by incorporating artificial intelligence for personalised cancer treatment.

AI in Oncology Market Players Mapping:

IBMUS
GE HealthcareUS
Azra AIUS
Siemens HealthineersGermany
Intel CorporationUS
NVIDIA CorporationUS
Concert AIUS
Path AIUS
Median TechnologiesFrance
Digital DiagnosticsUS
  • GE HealthCare‘s partnerships with Vanderbilt University Medical Center and University Medicine Essen in Germany for providing a promising path towards customised therapies with inclusion of AI models with a remarkable 70 to 80 percent accuracy in anticipating patient reactions to immunotherapies. 
  • Siemens Healthineers is using supercomputing powered by NVIDIA to improve the accuracy of radiation therapy through AI-generated organ segmentations.
  • In the month of November, Azra AI partnered with CancerX in the US. This public private partnership is expected to create a significant impact in the development of oncology treatment in the coming years.
Leaders Board




AI in Oncology Market Coverage:

By Component

  • Software Solutions
  • Hardware
  • Services

By Cancer Type

  • Breast Cancer
  • Lung Cancer
  • Prostate Cancer
  • Colorectal Cancer
  • Brain Tumour
  • Others

By Treatment Type

  • Chemotherapy
  • Radiotherapy
  • Immunotherapy
  • Others

By End User Type

  • Biopharmaceutical
  • pharmaceutical 
  • Diagnostic Centres

By Region:

  • North America (leading Country – XXX)
    • US
    • Canada
    • Mexico
  • Asia Pacific (leading Country – XXX)
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of APAC
  • Europe (leading Country – XXX)
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • South America (leading Country – XXX )
    • Brazil
    • Argentina
    • Rest of South America
  • MEA (leading Country – XXX)
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of MEA

AI in Oncology Market Report Outlook

AI in Oncology Market Coverage2019- 2030
AI in Oncology  Market Fastest Growing RegionNorth America
AI in Oncology Market Fastest Growing SegmentXX
AI in Oncology Market Forecast2024 – 2030
AI in Oncology Market Historical Data2019 – 2022
AI in Oncology Market Base Year2023
AI in Oncology Market Competition Benchmarking10 + Key Players Mapping 
AI in Oncology Market Report FormatPPT + PDF + Excel

Report Use Cases:

  • AI in Oncology market size & growth analysis
  • AI in Oncology market segment deep dive and analysis.
  • AI in Oncology market Map to deep dive into leading players & their market models
  • AI in Oncology market activities – M&A, Partnerships, Join Ventures, R&D, investments, etc.
  • AI in Oncology market players portfolio scan – Analyst tagging

AI in Oncology market – Key players GRI Score curated by analyst team.


Explore report insights coverage in detail


Research Methodology:

  • Secondary research
  • Primary research
  • Data Models    
  • Primary Research: 

Grand Report Insights conducts primary research by directly engaging with industry experts, stakeholders, and key market players. This approach allows us to gather firsthand information and insights, ensuring the accuracy and relevance of our research findings. We employ a variety of methods for primary data collection, including email surveys and telephonic interviews.

Email Surveys: We use email surveys to reach a wide range of respondents and gather their feedback on specific topics related to the market. Our surveys are carefully designed to elicit detailed responses that help us understand market trends, challenges, and opportunities. By analyzing the data from these surveys, we are able to identify key insights and trends that inform our research.

Telephonic Interviews: We conduct telephonic interviews with industry experts and key stakeholders to gain deeper insights into market dynamics. These interviews allow us to ask probing questions and have in-depth discussions that may not be possible through other means. By speaking directly with industry insiders, we are able to validate our findings and gather unique perspectives that enhance the depth and quality of our research.

Through a combination of email surveys and telephonic interviews, Grand Report Insights is able to gather comprehensive and reliable primary data that forms the foundation of our market research reports.

  • Primary Respondents Bifurcation
















Secondary Research: In addition to primary research, we rely on secondary sources of information to supplement our findings. These sources include industry reports, articles, and data from reputable organizations. By leveraging existing research and data, we enhance the depth and breadth of our analysis, providing clients with comprehensive insights into their industries.

Global Market Size – Top Down & Bottom Up Approach

In our market sizing analysis, we meticulously examined the revenue generated by each segment within the global market. Utilizing a combination of top-down and bottom-up approaches, we provide a detailed breakdown of revenue contributions from various segments. This analysis offers valuable insights into the revenue distribution across different segments, enabling businesses to identify lucrative opportunities and tailor their strategies accordingly.

Regional Revenue Analysis

Our regional revenue analysis provides a comprehensive view of market dynamics across different regions. Leveraging both top-down and bottom-up approaches, we evaluated the revenue generated in each region to understand regional variations in market performance. This analysis offers valuable insights into regional market trends, helping businesses make informed decisions regarding market expansion and resource allocation.

Market Sizing Using Top-Down Approach

In our market sizing using the top-down approach, we started by analyzing macroeconomic indicators and industry data to estimate the total addressable market (TAM). We then segmented the TAM based on relevant criteria to arrive at the market size for each segment. This approach provides a high-level view of the market size, serving as a valuable reference point for further analysis.

Market Sizing Using Bottom-Up Approach

Conversely, our market sizing using the bottom-up approach involved aggregating individual sales data from companies operating in the market to estimate the total market size. This granular approach allows for a detailed assessment of market size, providing insights into the revenue generated by each player and segment. This method is particularly useful for validating market trends and identifying growth opportunities at a more detailed level.

Data Models: Grand Report Insights employs advanced data modeling techniques to analyze and interpret market trends, patterns, and dynamics comprehensively. By applying sophisticated statistical and analytical methods to a wide range of market data, including primary and secondary research, macro-economic factors, and country-level data, we uncover hidden insights and forecast future market developments with a high degree of accuracy. 

Our approach includes developing data models, tracking sector activities, creating company profiles, and conducting in-depth analysis to provide clients with valuable insights for informed decision-making.

Macro-Economic Factor Analysis: At Grand Report Insights, we carefully evaluate the impact of macro-economic factors such as GDP growth, inflation rates, and government policies on the market. By understanding the broader economic context, we provide our clients with insights into how these factors may influence market dynamics and trends.

Our analysis extends to the country level, allowing us to understand regional variations in the market. By analyzing market data at this level, we identify regional trends and opportunities, providing our clients with a comprehensive view of the market landscape.

Company Profiles

Our company profiles are meticulously crafted to provide clients with a holistic view of key market players. We analyze their product and service offerings in detail, evaluating the uniqueness and competitiveness of each offering. Our vendor analysis dives deep into their relationships with suppliers and partners, shedding light on the strength and stability of their supply chain.

We also assess their market position, examining factors such as market share, brand reputation, and customer loyalty. Financial data analysis includes revenue, profit margins, and financial stability indicators, offering insights into their financial health and growth potential.

Furthermore, we track competitors’ movements to understand how they are positioning themselves in the market and how key players are responding. R&D activities are scrutinized to gauge innovation capabilities and future product development strategies.

Our analysis extends to joint ventures and collaborations, evaluating their impact on market positioning and growth strategies. Finally, we closely monitor product launches to assess market acceptance and potential impact on the competitive landscape.

Continuous Updates: Our research is updated regularly to reflect the latest market developments and trends. By staying abreast of industry news and events, we ensure that our clients have access to the most current and relevant information.

Sector Activities: We monitor activities within the sector to identify emerging trends and opportunities. By tracking market developments such as new product launches, partnerships, and acquisitions, we provide clients with insights into market dynamics.

Deals Mapping: Grand Report Insights maps out mergers, acquisitions, and partnerships within the market. This helps us understand the competitive landscape and identify potential areas of growth and collaboration for our clients.

Market Models Dynamics: We analyze the dynamics of market models to understand how they evolve over time. By studying market structures and trends, we provide clients with insights into market dynamics and potential future developments.

Business Interactions: Our team engages with businesses to gather insights and feedback on market conditions and trends. By building relationships with industry players, we gain valuable perspectives that inform our research and analysis.



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