InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Artificial Intelligence in Cancer Diagnosis and Therapy Market- by Surgery Type (Radiotherapy, Chemotherapy, Immunotherapy, Precision Therapy, Phototherapy, Gene Therapy, and Sonodynamic Therapy), Cancer Type (Breast Cancer, Lung Cancer, Melanoma Cancer, Colorectal Cancer, Prostate Cancer, and Others), End-Use (Hospitals, Cancer Research Centre, and Diagnostic Labs), Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”
According to the latest research by InsightAce Analytic, the global Artificial Intelligence in Cancer Diagnosis and Therapy Market Size is valued at 285.90 Million in 2022 and is predicted to reach 1371.16 Million by the year 2031 at a 19.2 % CAGR during the forecast period for 2023-2031.
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Cancer is a disease caused by abnormal cell development. It is one of the significant causes of death in the world. Early detection and treatment of cancer can enhance survival rates. Artificial intelligence (AI) is a subfield of computer science concerned with simulating intelligent behaviour in computers. Cancer is diagnosed and treated using AI techniques. AI-powered systems can detect patterns in data that humans cannot see.
One of the main drivers propelling the growth of this market is the increase in demand for precision medicine and early cancer detection, as well as the emergence of very sophisticated AI systems. Cancer is one of the significant causes of mortality worldwide. According to the same source, low- and middle-income nations account for roughly 70% of all cancer-related fatalities. Therefore, one of the key reasons anticipated to propel this market’s growth over the forecast period is the rising incidence of cancer.
North America is anticipated to be the major contributor to the Artificial Intelligence in Cancer Diagnosis and Therapy market over the forecast years. This region’s substantial share can be attributable to the presence of essential market players and the rising prevalence of cancer. According to the American Cancer Society, around 1,762,450 new cancer cases are predicted to be diagnosed in 2019, with 606,880 individuals dying from cancer in the United States. To combat this issue, the region is actively deploying AI.
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Major market players operating in the Artificial Intelligence in Cancer Diagnosis and Therapy market include
Pfizer Inc., Therapixel, Sophia Genetics, Janssen Global Services, LLC., PathAI, IBM, Microsoft, Oracle, OncoHealth, and Ancora Medical.
Recent collaborations and agreements in the market:
- In September 2021, The Center for Devices and Radiological Health of the Digital Health Center of Excellence released the Artificial Intelligence/Machine Learning (AI/ML)-Based Software as a Medical Device (SaMD) Action Plan. The FDA’s Center for Devices and Radiological Health (CDRH) recommends comprehensive regulations for these technologies based on the entire product lifecycle. These regulations will allow modifications based on learning and adaptation from real-world experience while maintaining the safety and efficacy of software as a medical device.
- In January 2021, A cooperation agreement for the AI-driven clinical interpretation platform ClinOme was struck by 4baseCare, a Precision Oncology startup backed by Illumina Accelerator and the Advanced Centre for Treatment, Research, and Education in Cancer (ACTREC) – Tata Memorial Centre. Through this collaboration, it will be possible for clinicians to offer patients with cancer-tailored treatment plans by developing a native platform that delivers data insights and streamlined reports.
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Market Segments
Global Artificial Intelligence in Cancer Diagnosis and Therapy Market, by Surgery Type, 2023-2031 (Value US$ Mn)
- Radiotherapy
- Chemotherapy
- Immunotherapy
- Precision Therapy
- Phototherapy
- Gene Therapy
- Sonodynamic Therapy
Global Artificial Intelligence in Cancer Diagnosis and Therapy Market, by Cancer Type, 2023-2031 (Value US$ Mn)
- Breast Cancer
- Lung Cancer
- Melanoma Cancer
- Colorectal Cancer
- Prostate Cancer
- Others
Global Artificial Intelligence in Cancer Diagnosis and Therapy Market, by End-Use, 2023-2031 (Value US$ Mn)
- Hospitals
- Cancer Research Center
- Diagnostic Labs
Global Artificial Intelligence in Cancer Diagnosis and Therapy Market, by region, 2023-2031 (Value US$ Mn)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
North America Artificial Intelligence in Cancer Diagnosis and Therapy Market, by Country, 2023-2031 (Value US$ Mn)
- S.
- Canada
Europe Artificial Intelligence in Cancer Diagnosis and Therapy Market, by Country, 2023-2031 (Value US$ Mn)
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
Asia Pacific Artificial Intelligence in Cancer Diagnosis and Therapy Market, by Country, 2023-2031 (Value US$ Mn)
- India
- China
- Japan
- South Korea
- Australia & New Zealand
Latin America Artificial Intelligence in Cancer Diagnosis and Therapy Market, by Country, 2023-2031 (Value US$ Mn)
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa Artificial Intelligence in Cancer Diagnosis and Therapy Market, by Country, 2023-2031 (Value US$ Mn)
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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