Home > Healthcare > Healthcare IT > Health Services > AI in Oncology Market

AI in Oncology Market Trends

Report ID: GMI8547
Published Date: Mar 2024
Report Format: PDF

Download Free Sample

AI in Oncology Market Trends

The rising demand for early cancer detection and classification presents significant opportunities for growth in the oncology market. By leveraging artificial intelligence technologies, healthcare providers can enhance the accuracy and efficiency of cancer diagnosis, leading to timely interventions, and improved patient outcomes.

AI algorithms analyze vast amounts of medical data including imaging scans, pathology reports, and genetic profiles with unprecedented speed and accuracy. This capability enables AI systems to detect subtle abnormalities and patterns indicative of cancer at its earliest stages.
Further, AI systems can detect subtle abnormalities that may be overlooked by human observers, enhancing the sensitivity, and specificity of cancer diagnosis.
Additionally, AI technologies have the potential to improve healthcare resource utilization by reducing unnecessary diagnostic procedures, minimizing delays in treatment initiation, and optimizing the allocation of healthcare personnel and equipment.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The Global AI in oncology industry was valued at around USD 1.9 billion in 2023 and is estimated to reach over USD 17.9 billion by 2032, driven by the increasing prevalence of cancer.

Diagnostics application segment held a market size of USD 341.4 million in 2023 and is expected to grow substantially through 2032, as AI oncology excel at detecting tumors in their earliest stages by analyzing various medical imaging scans including mammograms, CT scanner, and MRI systems.

North America AI in oncology industry accounted for USD 758.1 million in 2023 and is predicted to witness substantial growth over 2024 and 2032, owing to its advanced healthcare infrastructure, including state-of-the-art hospitals, research institutions, and medical facilities.

Azra AI., ConcertAI., Digital Diagnostics Inc., GE HealthCare Technologies Inc., International Business Machines Corporation, Intel Corporation, Median Technologies SA, NVIDIA Corporation, PathAI, Inc., Siemens Healthineers AG are some of the major industry contenders.