AI in Bioinformatics Market Report 2025

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The AI in cancer diagnostics market size has grown exponentially in recent years. It will grow from $0.66 billion in 2024 to $0.79 billion in 2025 at a compound annual growth rate (CAGR) of 21%. The growth in the historic period can be attributed to increasing cancer incidence rates, data explosion in healthcare, supportive regulatory environment, focus on precision medicine, expansion of AI applications beyond imaging.

The AI in cancer diagnostics market size is expected to see rapid growth in the next few years. It will grow to $1.64 billion in 2029 at a compound annual growth rate (CAGR) of 19.9%. The growth in the forecast period can be attributed to emergence of explainable AI, global increase in healthcare it spending, integration with electronic health records (EHR), personalized medicine adoption, continued advances in AI algorithms. Major trends in the forecast period include advancements in imaging technologies, technological convergence, collaborations between healthcare and tech companies, rise of digital pathology, automation in histopathology.

The rising prevalence of cancer is expected to drive the growth of artificial intelligence in the cancer diagnostics market. Cancer refers to a group of diseases characterized by abnormal cell growth that can invade or spread to other parts of the body. The integration of AI in cancer care aims to improve efficiency, accuracy, and personalized treatment options, ultimately enhancing outcomes for cancer patients. For example, in May 2024, the National Cancer Institute, a US-based government agency, projected that approximately 2 million new cancer cases would be diagnosed in the U.S. in 2024, with over 611,000 deaths expected. By 2040, global new cancer cases are anticipated to rise to 29.9 million, with cancer-related deaths reaching 15.3 million. As a result, the growing prevalence of cancer is driving the adoption of artificial intelligence in the cancer diagnostics market.

Leading companies in the AI in cancer diagnostics market are experiencing notable growth driven by advancements in AI-powered digital pathology solutions for cancer diagnosis. These solutions utilize AI algorithms to detect cancer and other diagnostic features in various tissue types, offering accurate and timely cancer diagnosis, supporting case prioritization, and ensuring reproducible diagnoses. For instance, in November 2023, Dedalus & Ibex Medical Analytics introduced an integrated End-to-End AI-powered digital pathology solution for cancer diagnosis across Europe. This solution aims to enhance accuracy, provide AI-powered decision support tools, streamline reporting, improve laboratory efficiency, and boost diagnostic confidence.

In December 2023, Lunit, a South Korean AI company, acquired Volpara for $193 million, aiming to establish the combined entity as a leading force in AI-driven cancer diagnostics, particularly in the U.S. market. Volpara's extensive presence in over 2,000 medical sites across the U.S. and its vast database of over 100 million high-quality mammogram images position it as a valuable addition to Lunit's capabilities. Volpara, based in New Zealand, specializes in providing AI-powered software for personalized screening and early detection of breast cancer.

Major companies operating in the AI in cancer diagnostics market report are Microsoft Corporation, IBM Corporation, Babylon Healthcare Services Ltd., Verily Life Sciences LLC, Tempus, Guardant Health, Lunit Inc., Paige AI Inc., Ada Health GmbH, Viz.ai Inc., Butterfly Network Inc., Insilico Medicine, BenevolentAI SA SA, Enlitic Inc., Ibex Medical Analytics, Kheiron Medical Technologies Limited, CureMetrix Inc., CancerIQ Inc., MultiplAI Health, Freenome Holdings Inc., SkinVision, Entopsis, Owkin, Imagen Technologies, Panakeia Technologies, EchoPixel Inc., X-Zell Inc., Cyrcadia Health, Oncora Medical, Xilis.

North America was the largest region in the artificial intelligence in cancer diagnostics market in 2024. The regions covered in the AI in cancer diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the AI in cancer diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

AI in the cancer diagnostics market consists of revenues earned by entities by providing services such as early detection and screening, image analysis and interpretation, predictive analytics, and treatment planning. The market value includes the value of related goods sold by the service provider or included within the service offering. The AI in Cancer Diagnostics market also consists of sales of medical imaging devices, pathology analysis systems, genomic sequencing equipment, and patient monitoring devices that are used in providing services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

AI in cancer diagnostics involves employing artificial intelligence technologies such as machine learning and deep learning to analyze medical images, genetic data, or patient histories for aiding in the early detection, diagnosis, and prognosis of cancer. These systems can detect patterns and anomalies in data that may elude human perception, thereby enhancing diagnostic accuracy and efficiency.

The primary components of AI in cancer diagnostics include software solutions, hardware, and services. Software solutions utilize artificial intelligence (AI) and machine learning (ML) technologies to enhance the accuracy and efficiency of cancer detection, prognosis, and treatment selection. Various types of cancer, including breast cancer, lung cancer, brain tumors, skin cancer, cervical cancer, prostate cancer, colorectal cancer, and others, are addressed. These applications encompass screening and diagnosis, tumor identification, and monitoring, and are utilized by a range of end-users such as hospitals, diagnostic centers, medical research institutes, and contract research organizations.

The AI in cancer diagnostics market research report is one of a series of new reports that provides AI in cancer diagnostics market statistics, including AI in cancer diagnostics industry global market size, regional shares, competitors with an AI in cancer diagnostics market share, detailed AI in cancer diagnostics market segments, market trends, and opportunities, and any further data you may need to thrive in the AI in cancer diagnostics industry. This AI in cancer diagnostics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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