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Artificial Intelligence (AI) in Precision Medicine Market Report and Forecast 2024-2032

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    Report

  • 140 Pages
  • September 2023
  • Region: Global
  • Expert Market Research
  • ID: 5895133
The global artificial intelligence (AI) in precision medicine market size was valued USD 1.5 billion in 2023, driven by convergence of AI and healthcare, the availability of large-scale healthcare data, and the increasing demand for personalized treatment. The market size is anticipated to grow at a CAGR of 36% during the forecast period of 2024-2032 to achieve a value of USD 23.9 billion by 2032.

Artificial Intelligence in Precision Medicine: Introduction

Artificial Intelligence (AI) in precision medicine represents the intersection of advanced technologies and healthcare, with the aim of revolutionizing medical practices and improving patient outcomes. Precision medicine, also known as personalized medicine, involves tailoring medical treatment and interventions to the individual characteristics of each patient, such as their genetic makeup, lifestyle, and environmental factors. AI plays a pivotal role in the analysis and interpretation of complex patient data to provide highly personalized and effective healthcare solutions.

AI in precision medicine offers numerous benefits, including:

Personalized Treatment: Tailoring medical interventions to individual patients.

Improved Drug Development: Accelerating drug discovery and development.

Early Disease Detection: Enhancing the early detection of diseases.

Enhanced Patient Outcomes: Improving treatment effectiveness and patient outcomes.

More Efficient Clinical Trials: Optimizing the design and execution of clinical trials.

Key Trends in the Global Artificial Intelligence (AI) in Precision Medicine Market

Advancements in Genomic Analysis: AI-powered genomics analysis is becoming more sophisticated. AI algorithms can identify genetic variations, predict disease risks, and recommend targeted therapies based on an individual's genetic profile. This trend is particularly prominent in cancer genomics.

AI-Enhanced Diagnostic Imaging: AI is improving the accuracy and efficiency of diagnostic imaging in various medical fields. Radiology, pathology, and cardiology are benefiting from AI algorithms that can detect abnormalities, assist in diagnosis, and streamline image interpretation.

Drug Discovery and Development: AI is playing a significant role in drug discovery by accelerating target identification, lead compound screening, and drug repurposing. AI-driven drug discovery platforms are helping pharmaceutical companies bring new drugs to market more efficiently.

Clinical Decision Support Systems: AI-powered clinical decision support systems are becoming integral to healthcare. These systems analyze patient data, offer treatment recommendations, and provide real-time support to healthcare providers, leading to more informed decisions and improved patient outcomes.

Telemedicine and Remote Monitoring: The COVID-19 pandemic has accelerated the adoption of telemedicine and remote patient monitoring. AI-enabled telehealth platforms provide virtual consultations, remote monitoring of chronic conditions, and medication adherence support.

Global Artificial Intelligence (AI) in Precision Medicine Market Segmentation

The market can be categorised by type, components, therapeutic areas and region.

Market Breakup by Type

  • Machine Learning
  • Querying Method
  • Deep Learning
  • Context-Aware Processing
  • Natural Language Processing

Market Breakup by Components

  • Hardware
  • Software

Market Breakup by Therapeutic Area

  • Oncology
  • Neurology
  • Cardiology
  • Respiratory
  • Others

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Global Artificial Intelligence (AI) in Precision Medicine Market Overview

The global artificial intelligence (AI) in precision medicine market is at the forefront of healthcare innovation, leveraging AI and data analytics to tailor medical treatment and interventions to the unique characteristics of individual patients. This market is characterized by rapid technological advancements, increasing adoption of AI in healthcare, and the growing demand for personalized medicine. The global AI in precision medicine market has been experiencing robust growth and is expected to continue expanding in the coming years. The market's growth is driven by the convergence of AI and healthcare, the availability of large-scale healthcare data, and the increasing demand for personalized treatment. AI in precision medicine is a global phenomenon, with healthcare organizations and institutions worldwide recognizing its potential to enhance patient care and drug development. the global AI in precision medicine market is poised for continued growth, driven by the convergence of AI and healthcare. It offers the promise of more personalized and effective treatments for patients, early disease detection, and accelerated drug development. As technology continues to advance and healthcare systems embrace AI-driven approaches, this market is expected to play a central role in shaping the future of healthcare and medicine.

Key Players in the Global Artificial Intelligence (AI) in Precision Medicine Market

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players.

The major companies in global Artificial Intelligence (AI) in Precision Medicine Market are as follows:

  • Novo Nordisk A/S
  • GE Healthcare
  • Intel Corporation
  • NVIDIA Corporation
  • Microsoft Corporation
  • Alphabet Inc.
  • IBM Corporation
  • Enlitic Inc.
  • AstraZeneca
  • Sanofi
The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.

Table of Contents

1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage - Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Artificial Intelligence in Precision Medicine Market Overview
3.1 Global Artificial Intelligence in Precision Medicine Market Historical Value (2017-2023)
3.2 Global Artificial Intelligence in Precision Medicine Market Forecast Value (2024-2032)
4 Global Artificial Intelligence in Precision Medicine Market Landscape
4.1 Artificial Intelligence in Precision: Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Artificial Intelligence in Precision: Product Landscape
4.2.1 Analysis by Type
4.2.2 Analysis by Components
4.2.3 Analysis by Region
5 Global Artificial Intelligence in Precision Medicine Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Artificial Intelligence in Precision Medicine Market Segmentation
6.1 Global Artificial Intelligence in Precision Medicine Market by Type
6.1.1 Market Overview
6.1.2 Machine Learning
6.1.3 Querying Method
6.1.4 Deep Learning
6.1.5 Context-Aware Processing
6.1.6 Natural Language Processing
6.2 Global Artificial Intelligence in Precision Medicine Market by Components
6.2.1 Market Overview
6.2.2 Hardware
6.2.3 Software
6.3 Global Artificial Intelligence in Precision Medicine Market by Therapeutic Area
6.3.1 Market Overview
6.3.2 Oncology
6.3.3 Neurology
6.3.4 Cardiology
6.3.5 Respiratory
6.3.6 Others
6.4 Global Artificial Intelligence in Precision Medicine Market by Region
6.4.1 Market Overview
6.4.2 North America
6.4.3 Europe
6.4.4 Asia Pacific
6.4.5 Latin America
6.4.6 Middle East and Africa
7 North America Artificial Intelligence in Precision Medicine Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Artificial Intelligence in Precision Medicine Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Artificial Intelligence in Precision Medicine Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Artificial Intelligence in Precision Medicine Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Artificial Intelligence in Precision Medicine Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Regulatory Framework
12.1 Regulatory Overview
12.1.1 US FDA
12.1.2 EU EMA
12.1.3 INDIA CDSCO
12.1.4 JAPAN PMDA
12.1.5 Others
13 Patent Analysis
13.1 Analysis by Type of Patent
13.2 Analysis by Publication year
13.3 Analysis by Issuing Authority
13.4 Analysis by Patent Age
13.5 Analysis by CPC Analysis
13.6 Analysis by Patent Valuation
13.7 Analysis by Key Players
14 Grants Analysis
14.1 Analysis by year
14.2 Analysis by Amount Awarded
14.3 Analysis by Issuing Authority
14.4 Analysis by Grant Application
14.5 Analysis by Funding Institute
14.6 Analysis by NIH Departments
14.7 Analysis by Recipient Organization
15 Clinical Trials Analysis
15.1 Analysis by Trial Registration Year
15.2 Analysis by Trial Status
15.3 Analysis by Trial Phase
15.4 Analysis by Therapeutic Area
15.5 Analysis by Geography
16 Funding and Investment Analysis
16.1 Analysis by Funding Instances
16.2 Analysis by Type of Funding
16.3 Analysis by Funding Amount
16.4 Analysis by Leading Players
16.5 Analysis by Leading Investors
16.6 Analysis by Geography
17 Partnership and Collaborations Analysis
17.1 Analysis by Partnership Instances
17.2 Analysis by Type of Partnership
17.3 Analysis by Leading Players
17.4 Analysis by Geography
18 Supplier Landscape
18.1 Novo Nordisk A/S
18.1.1 Financial Analysis
18.1.2 Product Portfolio
18.1.3 Demographic Reach and Achievements
18.1.4 Mergers and Acquisitions
18.1.5 Certifications
18.2 GE Healthcare
18.2.1 Financial Analysis
18.2.2 Product Portfolio
18.2.3 Demographic Reach and Achievements
18.2.4 Mergers and Acquisitions
18.2.5 Certifications
18.3 Intel Corporation
18.3.1 Financial Analysis
18.3.2 Product Portfolio
18.3.3 Demographic Reach and Achievements
18.3.4 Mergers and Acquisitions
18.3.5 Certifications
18.4 NVIDIA Corporation
18.4.1 Financial Analysis
18.4.2 Product Portfolio
18.4.3 Demographic Reach and Achievements
18.4.4 Mergers and Acquisitions
18.4.5 Certifications
18.5 Microsoft Corporation
18.5.1 Financial Analysis
18.5.2 Product Portfolio
18.5.3 Demographic Reach and Achievements
18.5.4 Mergers and Acquisitions
18.5.5 Certifications
18.6 Alphabet Inc.
18.6.1 Financial Analysis
18.6.2 Product Portfolio
18.6.3 Demographic Reach and Achievements
18.6.4 Mergers and Acquisitions
18.6.5 Certifications
18.7 IBM Corporation
18.7.1 Financial Analysis
18.7.2 Product Portfolio
18.7.3 Demographic Reach and Achievements
18.7.4 Mergers and Acquisitions
18.7.5 Certifications
18.8 Enlitic Inc.
18.8.1 Financial Analysis
18.8.2 Product Portfolio
18.8.3 Demographic Reach and Achievements
18.8.4 Mergers and Acquisitions
18.8.5 Certifications
18.9 AstraZeneca
18.9.1 Financial Analysis
18.9.2 Product Portfolio
18.9.3 Demographic Reach and Achievements
18.9.4 Mergers and Acquisitions
18.9.5 Certifications
18.10 Sanofi
18.10.1 Financial Analysis
18.10.2 Product Portfolio
18.10.3 Demographic Reach and Achievements
18.10.4 Mergers and Acquisitions
18.10.5 Certifications
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket

Companies Mentioned

  • Novo Nordisk A/S
  • GE Healthcare
  • Intel Corporation
  • NVIDIA Corporation
  • Microsoft Corporation
  • Alphabet Inc.
  • IBM Corporation
  • Enlitic Inc.
  • AstraZeneca
  • Sanofi

Methodology

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