AI-powered remote monitoring solutions enable continuous monitoring of cancer patients’ health status and treatment adherence outside traditional healthcare settings.
Wilmington, Delaware, United States, Transparency Market Research Inc. -, Sept. 02, 2024 (GLOBE NEWSWIRE) — The global AI in oncology market (종양학 시장의 AI) is estimated to thrive at a CAGR of 16.8% from 2024 to 2034. Transparency Market Research projects that the overall sales revenue for AI in oncology is estimated to reach US$ 7.7 billion by the end of 2034.
Leveraging real-world data from electronic health records and wearables, AI enables insights into patient outcomes, treatment effectiveness, and disease progression, enhancing clinical decision-making and research efforts. AI-powered virtual tumor boards facilitate multidisciplinary collaboration among healthcare professionals, enabling real-time discussion of complex cases, treatment planning, and knowledge sharing to improve patient care outcomes.
AI-driven patient engagement platforms empower patients with personalized health information, treatment education, and support resources, fostering active participation in their care journey and adherence to treatment regimens. Integration of blockchain technology ensures secure and transparent management of patient data, enabling interoperability, data sharing, and compliance with privacy regulations, fostering trust and collaboration within the healthcare ecosystem.
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AI algorithms analyze social determinants of health data to identify socio-economic factors influencing cancer outcomes, enabling targeted interventions and support services to address health disparities and improve health equity.
Key Findings of the Market Report
- Lung cancer leads the AI in oncology market due to its high prevalence and the urgent need for accurate diagnostic solutions.
- Diagnosis is leading the AI in oncology market, with advanced algorithms enhancing early detection and accurate identification of cancerous conditions.
- Hospitals & clinics lead the AI in oncology market, driving adoption of AI-driven solutions for cancer diagnosis, treatment planning, and patient care.
AI in Oncology Market Growth Drivers & Trends
- AI enables personalized treatment approaches based on individual patient characteristics, optimizing cancer therapy effectiveness and minimizing adverse effects.
- Advanced algorithms enhance the accuracy of medical imaging interpretation, aiding early cancer detection and treatment planning.
- AI accelerates drug discovery processes by analyzing vast datasets, identifying potential therapeutic targets, and optimizing drug development pipelines.
- AI-powered decision support systems assist healthcare professionals in making informed treatment decisions, improving patient outcomes and reducing healthcare costs.
- Integration of AI technologies with telemedicine platforms facilitates remote consultations, enabling access to specialized oncology care for patients in underserved regions.
Global AI in Oncology Market (L’IA sur le marché de l’oncologie): Regional Profile
- North America, particularly the United States, leads the charge in AI-driven oncology solutions. With a robust healthcare infrastructure, extensive research facilities, and substantial investment in technology, North America fosters a thriving ecosystem for AI applications in cancer diagnosis, treatment, and research. Key players like Paige.AI and Tempus spearhead advancements, collaborating with leading healthcare institutions to pioneer groundbreaking solutions.
- Europe, renowned for its strong emphasis on healthcare innovation and research, sees significant adoption of AI in oncology. Countries like the United Kingdom, Germany, and France leverage AI technologies to enhance cancer care delivery, improve patient outcomes, and optimize healthcare resource utilization. Companies such as Ibex Medical Analytics and PathAI drive innovation, partnering with academic institutions and healthcare providers to deploy AI-powered solutions across the region.
- Asia Pacific, propelled by rapid technological advancements and growing healthcare investments, emerges as a key player in the global AI in Oncology market. Countries like China, Japan, and South Korea invest heavily in AI-driven cancer diagnostics and treatment, aiming to address the region’s rising cancer burden. Collaborations between technology firms, healthcare organizations, and government agencies drive innovation, shaping the future of cancer care in Asia Pacific and beyond.
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AI in Oncology Market: Competitive Landscape
In the competitive landscape of the AI in oncology market, pioneering companies like Paige.AI, Tempus, and Ibex Medical Analytics lead the charge. These innovators harness artificial intelligence to revolutionize cancer diagnostics, treatment planning, and research. Established players such as IBM Watson Health and Google Health also compete, leveraging their technological expertise and vast datasets to develop AI-driven oncology solutions.
Startups like PathAI and DeepMind Health disrupt the industry with novel approaches to analyzing medical imaging and genomic data. Collaboration between industry leaders, research institutions, and healthcare providers drives innovation, fostering a dynamic ecosystem focused on improving patient outcomes in oncology. Some prominent players are as follows:
- Paige.AI
- Tempus
- Ibex Medical Analytics
- PathAI
- Proscia Inc.
- DeepMind
- SOPHiA GENETICS
- Enlitic
- Prognos Health
- Inspirata Inc.
Product Portfolio
- Paige.AI pioneers AI-driven pathology solutions, revolutionizing cancer diagnostics and treatment planning. Their advanced platform harnesses machine learning to analyze vast amounts of pathology data, empowering clinicians with insights for more accurate and personalized patient care.
- Tempus utilizes AI and genomic data to revolutionize cancer care. Their platform enables data-driven precision medicine, offering insights for diagnosis, treatment, and research, ultimately improving patient outcomes and accelerating advancements in oncology.
- Ibex Medical Analytics specializes in AI-powered cancer diagnostics solutions. Their platform, powered by deep learning algorithms, enhances pathology workflows, providing accurate and efficient cancer detection to support healthcare professionals in making informed clinical decisions.
AI in Oncology Market: Key Segments
By Cancer Type
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Ovarian Cancer
- Others
By Application
- Diagnosis
- Treatment Selection
- Drug Discovery
- Patient Management and Care
By End User
- Hospitals & Clinics
- Cancer Hospitals
- Research Institutes
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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About Transparency Market Research
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