The "Artificial Intelligence in Oncology Market Industry Trends and Global Forecasts to 2035, by Type of Cancer, Type of End-Users and Key Geographical Regions" report has been added to ResearchAndMarkets.com's offering.
The global artificial intelligence (AI) in oncology market is estimated to grow from USD 1.1 billion in the current year to USD 9.1 billion by 2035, at a CAGR of 21.4% during the forecast period, till 2035.
In the last decade, the popularity of AI has grown steadily. It has made a considerable impact on the overall medical healthcare sector, including in the field of oncology. This can be attributed to the surge in AI-based technologies for diagnosis and treatment. Given the breakthroughs in technological infrastructure and groundbreaking research, it is anticipated that AI is likely to overcome the complexities of medicine and has the potential to address the unmet needs within the pharmaceutical / biotech / medical devices domain.
AI has demonstrated potential in improving tumor imaging diagnosis and therapy response evaluation, anticipating clinical outcomes, and accelerating drug development and translational oncology. AI has the potential to revolutionize the oncology sector by overcoming existing challenges and leveraging the power of big data to improve the cancer treatment further.
Although AI is already being used in oncology clinical practice, ongoing and increased efforts are required to allow AI to reach its full potential. Driven by the continuous efforts of both industry and non-industry players to use AI based solutions in the oncology sector, the market is expected to witness sustainable growth in the foreseen future.
Artificial Intelligence in Oncology Market: Key Segments
Solid Malignancies Segment is Likely to Dominate AI in Oncology Market During the Forecast Period
Based on the type of cancer, the market is segmented into solid malignancies, breast cancer, lung cancer, prostate cancer, colorectal cancer, brain tumor, and others based on the type of cancer. At present, the solid malignancies segment holds the maximum share of the AI in oncology market. This trend is likely to remain the same in the coming decade.
Currently, Hospitals Segment Occupies the Largest Share of the AI in Oncology Market
Based on the type of end-user, the market is segmented into hospitals, pharmaceutical companies, research institutes and others. At present, the hospital segment holds the maximum share of the AI in oncology market. This trend is unlikely to change in the near future.
North America Accounts for the Largest Share of the Market
Based on key geographical regions, the market is segmented into North America, Europe, Asia-Pacific and Rest of the world. Majority of the current AI in oncology market is captured by North America. It is worth highlighting that, over the years, the market in Europe is expected to grow at a higher CAGR.
Artificial Intelligence in Oncology Market: Key Insights
- The current market landscape features the presence of over 70 players engaged in the development of AI-based software solutions for the oncology sector.
- Over 50% of the players use their machine learning powered solutions for diagnostic purposes in hospitals; geographically, the software providers are well distributed.
- In pursuit of gaining a competitive edge, industry stakeholders are actively upgrading their existing capabilities and enhancing their AI focused service portfolios.
- The growing interest in this market is prevalent from the recent rise in partnership activity; ~50% of the deals were inked to enable utilization and integration of proprietary AI-based technology solutions.
- Foreseeing lucrative returns, many public and private investors have made investments worth ~USD 6 billion; 70% of the funding initiatives were led by venture capitalists.
- Over 2,770 patents have been granted / filed by academic and industry stakeholders in the last five years, exclusively for the development of AI-based software solutions for oncology.
- The market is expected to witness a healthy growth of over 21% in the coming decade; the opportunity is likely to be well distributed across various target indications, types of molecules and different regions.
Primary Research Overview
The opinions and insights presented in this study were influenced by discussions conducted with multiple stakeholders. The research report features detailed transcripts of interviews held with the following industry stakeholders:
- Chief Executive Officer, CancerCenter.AI
- Chief Executive Officer, Nucleai
- Chief Executive Officer, Visiopharm
- Vice President, Marketing and Communications, Enlitic
Key Players in the Artificial Intelligence in Oncology Market, include:
- Berg
- Concert AI
- GE Healthcare
- IBM Watson Health
- iCAD
- JLK Inspection
- Median Technologies
- Path AI
- Roche Diagnostics
Key Topics Covered:
1. PREFACE
1.1. Overview
1.2. Scope of the Report
1.3. Market Segmentation
1.4. Research Methodology
1.5. Key Questions Answered
1.6. Chapter Outlines
2. EXECUTIVE SUMMARY
2.1 Chapter Overview
3. INTRODUCTION
3.1. Chapter Overview
3.2. Overview of Artificial Intelligence
3.3. Types Of Artificial Intelligence
3.4. AI in Healthcare
3.5. Key Challenges Associated with Use of AI in Healthcare Sector
3.6. Future Perspectives
4. MARKET OVERVIEW
4.1. Chapter Overview
4.2. AI in Oncology: Market Landscape of Software providers
4.3. AI in Oncology: Market Landscape of Software Solutions
5. COMPANY PROFILES
5.1. Chapter Overview
5.2. Roche Diagnostics
5.2.1. Company Overview
5.2.2. Financial Information
5.2.3. Service Portfolio
5.2.4. Recent Developments and Future Outlook
5.3. IBM Watson Health
5.4. CancerCenter.AI
5.5. GE Healthcare
5.6. Concert AI
5.7. Path AI
5.8. Berg
5.9. Median Technologies
5.10. iCAD
5.11. JLK Inspection
6. COMPANY COMPETITIVENESS ANALYSIS
6.1. Chapter Overview
6.2. Assumptions and Key Parameters
6.3. Methodology
7. PATENT ANALYSIS
7.1. Chapter Overview
7.2. Scope and Methodology
7.3. AI in Oncology: Patent Analysis
7.4. AI in Oncology: Patent Benchmarking Analysis
8. PARTNERSHIPS AND COLLABORATIONS
8.1. Chapter Overview
8.2. Partnership Models
8.3 AI in Oncology: Recent Partnerships and Collaborations
9. FUNDING AND INVESTMENT ANALYSIS
9.1. Chapter Overview
9.2. Types of Funding Models
9.3. AI in Oncology: List of Funding and Investment Analysis
9.4. Summary of Investments
9.5. Concluding Remarks
10. BLUE OCEAN STRATEGY: A STRATEGIC GUIDE FOR START-UPS TO ENTER INTO HIGHLY COMPETITIVE MARKET
10.1. Chapter Overview
10.2. Overview of Blue Ocean Strategy
10.2.1 Red Ocean
10.2.2 Blue Ocean
10.2.3 Difference between Red Ocean Strategy and Blue Ocean Strategy
10.2.4. AI in Oncology: Blue Ocean Strategy and Shift Tools
10.2.4.1. Value Innovation
10.2.4.2. Strategy Canvas
10.2.4.3. Four Action Framework
10.2.4.4. Eliminate-Raise-Reduce-Create (ERRC) Grid
10.2.4.5. Six Path Framework
10.2.4.6. Pioneer-Migrator-Settler (PMS) Map
10.2.4.7. Three Tiers of Noncustomers
10.2.4.8. Sequence of Blue Ocean Strategy
10.2.4.9. Buyer Utility Map
10.2.4.10. The Price Corridor of the Mass
10.2.4.11. Four Hurdles to Strategy Execution
10.2.4.12. Tipping Point Leadership
10.2.4.13. Fair Process
10.3. Conclusion
11. MARKET SIZING AND OPPORTUNITY ANALYSIS
11.1. Chapter Overview
11.2 Key Assumptions and Methodology
11.3. Global Artificial Intelligence in Oncology Market, 2022-2035
11.4. Artificial Intelligence in Oncology Market: Analysis by Type of Cancer, 2022- 2035
11.5. Artificial Intelligence in Oncology Market: Analysis by Type of End-User, 2022-2035
11.6. Artificial Intelligence in Oncology Market: Analysis by Key Geographical Regions, 2022-2035
12. CONCLUSION
12.1. Chapter Overview
13. EXECUTIVE INSIGHTS
13.1. Chapter Overview
13.2. Enlitic
13.2.1. Company Snapshot
13.2.2. Interview Transcript: Vice President, Marketing and Communications
13.3. Nucleai
13.4. Mirada Medical
13.5. CancerCenter.AI
13.6. Visiopharm
14. APPENDIX 1: TABULATED DATA
15. APPENDIX 2: LIST OF COMPANIES AND ORGANIZATIONS
Additional Benefits
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