AI in Oncology Market to Grow with a CAGR of 9.43% through 2030F
Increasing awareness of
the importance of early cancer detection is expected to drive the Global AI in
Oncology Market growth in the forecast period, 2026-2030
According to TechSci
Research report, “AI in Oncology Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2030F”, the Global
AI in Oncology Market stood at USD 701.08 Million in 2024 and is anticipated to
grow with a CAGR of 9.43% in the forecast period, 2026-2030F. The growth of the
AI in oncology market is attributed to the increasing prevalence of cancer,
technological advancement in cancer diagnostics and healthcare infrastructure,
and increasing demand for early and accurate diagnosis of cancer. The
rising initiatives undertaken by public and private organizations to invest in
R&D for the introduction of novel technologies are further anticipated to
fuel the growth of the market.
COVID-19 pandemic had a
positive impact on the market as it significantly increased the demand for the
utilization of AI in oncology as restrictions over movement were imposed
globally in hospitals and homecare settings. Due to lockdown and travel
restrictions, patients’ diagnosis, care, and treatment were some of the major
challenges as a result of which the need to develop products that can help in
providing solutions in remote locations and at an early stage significantly
increased. Due to a shortage of medical professionals, the use of AI has grown
even more to provide better results to patients.
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TOC on "Global AI in Oncology Market”
One of the key factors
responsible for the exponential growth of the overall market is the increasing
prevalence of cancer globally. The rising prevalence of cancer and the
shortages of healthcare professionals is propelling the adoption of AI to meet
the rising demand for novel solutions to provide efficient and accurate
diagnosis and treatment. Technological advancements and the incorporation
of AI in applications such as classification, detection, segmentation,
characterization, and monitoring are fueling the growth of the market.
Government and private investment in the field of oncology for the adoption of
artificial intelligence is enhancing the diagnostic and therapeutic scenario of
providing efficient oncological solutions.
Various growth
strategies are implemented by market players to strengthen their business
revenues further facilitating global AI in oncology market.
The Global AI in
Oncology Market is segmented into component, cancer type, treatment type,
regional distribution, and company
Based on treatment type,
chemotherapy segment is expected to grow during the forecast period.
Chemotherapy is a commonly used cancer treatment procedure, according to the
American Cancer Society an estimated 60% of patients with Stage 4 bladder
cancer receive chemotherapy. AI integration in chemotherapy treatment aids
healthcare professionals in developing a personalized digital profile of
patients, allowing their dose to be tailored during treatment. Increased
research activities for incorporating AI into chemotherapy accelerate segment
growth. The incorporation of AI to provide tailored chemotherapy with reduced
dosage and fewer side effects enhances the adoption of chemotherapy.
Based on region, Asia-Pacific
is the fastest-growing region in the global AI in oncology market due to
several key factors. The region is witnessing a sharp rise in cancer incidence,
creating an urgent need for advanced diagnostic and treatment technologies.
Governments and healthcare providers across countries like China, Japan, India,
and South Korea are increasingly investing in AI-driven healthcare
infrastructure. Supportive regulatory policies, growing digitalization, and the
expansion of telemedicine are further accelerating AI adoption. The presence of
a large patient population generates vast datasets, which are essential for
training effective AI models. Collaborations between local tech firms,
hospitals, and global AI leaders are also driving innovation. These combined
elements are propelling rapid advancements and positioning Asia-Pacific as a
hub for AI in oncology.
Major companies
operating in Global AI in Oncology Market are:
·
Azra
AI.
·
IBM
·
Siemens
Healthcare GmbH.
·
Intel
Corporation.
·
GE
HealthCare.
·
NVIDIA
Corporation.
·
Digital
Diagnostics Inc.
·
ConcertAI.
·
Median
Technologies.
·
PathAI.
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“Advancement of
technology and the use of AI in cancer diagnostics drive the expansion of the
healthcare industry. The artificial tools require low-cost diagnostic processes
and quick detection data reporting. The demand for technological advancements
in the healthcare field for cancer detection and screening is also expected to
boost industry growth. Government spending on healthcare technology drives the
expansion of the healthcare fields in emerging nations. The increasing
awareness of the importance of early cancer detection drives the advancement of
Artificial intelligence and machine learning in cancer diagnostics. The
increase in the number of government programs encourages healthcare
organizations and providers to integrate AI tools in their hospitals for the
betterment and advancement of patient therapy” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“AI in Oncology
Market, By Component (Software Solutions,
Hardware, Services), By Cancer Type (Breast Cancer, Lung Cancer, Prostate
Cancer, Colorectal Cancer, Brain Tumor, Others), By Treatment Type
(Chemotherapy, Radiotherapy, Immunotherapy, Others), By Region, By Competition Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential of Global AI
in Oncology Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global AI in Oncology
Market.
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