The Artificial Intelligence (AI) in Cancer Market was valued at USD 2.2 billion in 2024, and is projected to reach USD 6.3 billion by 2029, rising at a CAGR of 23.10%. Market growth drivers include an increasing cancer incidence and the growing application of AI for cancer drug discovery and development. Data collection and handling challenges, false positives and AI bias are expected to challenge market growth.
This report segments the global market for AI in cancer by cancer type, application, end user and region.
By geographical region, the market is segregated into North America, Europe, Asia Pacific and the Rest of the world. The North American region includes countries the U.S., Canada and Mexico. Europe includes Germany, the U.K., Italy, France, Spain and the Rest of Europe; Asia-Pacific includes China, Japan, India, South Korea, Australia and the Rest of Asia-Pacific. For market estimates, data is provided for 2021 and 2022 as the historic years, 2023 as the base year and 2029 as the forecast year.
This report segments the global market for AI in cancer by cancer type, application, end user and region.
- Based on cancer type, the breast cancer segment, accounted for the largest share among cancer types in 2023. It is expected to grow at a CAGR of 21.8% during the forecast period.
- By application, the diagnosis segment is predicted to grow at a CAGR of 23.7% during the forecast period. This segment, which accounted for 35.7% of the market among applications in 2023, is expected to reach $2.3 billion at the end of 2029.
- By end user, hospitals as a segment accounted for 55.8% of the market among end users in 2023. This segment is expected to grow at a CAGR of 23.4% during the forecast period, reaching a value of $3.6 billion at the end of 2029.
- By region, North America accounted for the largest market share of 44.8% among all regions in 2023. The large share can be attributed to the rising number of AI startups and the increasing occurrence of cancers like breast and prostate.
Report Scope
The report highlights AI technology's current and future market potential for cancer applications. It provides a detailed analysis of the market drivers, restraints and opportunities. The report also covers market projections through 2029 and presents a competitive environment and product analysis. The report provides market estimates and forecasts based on application, cancer type and region. By application type, the market is segmented into cancer screening, diagnosis, therapy, drug discovery and development and others. By cancer type, the market is segmented into breast, lung, prostate, gastrointestinal, brain and others. By end user, the market is segmented into hospitals, diagnostic centers, pharmaceutical companies and research institutions. The report includes profiles of the key companies with detailed information about their business segments, financials, product portfolios and recent developments.By geographical region, the market is segregated into North America, Europe, Asia Pacific and the Rest of the world. The North American region includes countries the U.S., Canada and Mexico. Europe includes Germany, the U.K., Italy, France, Spain and the Rest of Europe; Asia-Pacific includes China, Japan, India, South Korea, Australia and the Rest of Asia-Pacific. For market estimates, data is provided for 2021 and 2022 as the historic years, 2023 as the base year and 2029 as the forecast year.
The report includes:
- 42 data tables and 44 additional tables
- An up-to-date overview of the global markets for artificial intelligence (AI) in cancer
- Analysis of the global market trends, with data from 2021-2023, estimates for 2024, and projections of compound annual growth rates (CAGRs) through 2029
- Evaluation of the size of the market for artificial intelligence (AI) in cancer and revenue growth prospects, accompanied by a market share analysis by type, application, end user and region
- Assessment of market dynamics such as drivers, restraints and opportunities
- Coverage of current and emerging applications of AI in cancer and information on theranostics and generative AI tools
- A discussion on ESG challenges and practices in the industry
- Assessment of the vendor landscape, including the market shares of key companies, their product portfolios and financial overviews
- Information on recent mergers, acquisitions, expansions, collaborations, investments, divestments, product launches, and other strategic developments
- Company profiles of major players within the industry, including Siemens Healthineers, GE Healthcare, NVIDIA Corp., and Lunit Inc.
Table of Contents
Chapter 1 Executive Summary
Chapter 2 Market Overview
Chapter 3 Market Dynamics
Chapter 4 Emerging Technologies
Chapter 5 Market Segmentation Analysis
Chapter 6 Competitive Intelligence
Chapter 7 Sustainability in the AI in the Cancer Market
Chapter 8 Appendix
List of Tables
List of Figures
Companies Mentioned
- Azra AI
- Concertai
- GE Healthcare
- Icad Inc.
- Lunit Inc.
- Median Technologies
- Nvidia Corp.
- Quest Diagnostics Inc.
- Siemens Healthineers AG
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 111 |
| Published | November 2024 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value ( USD | $ 2.2 Billion |
| Forecasted Market Value ( USD | $ 6.3 Billion |
| Compound Annual Growth Rate | 23.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
