December 30, 2024
Boston: According to the latest study from BCC Research, “Artificial Intelligence (AI) in Cancer” is estimated to increase from $2.2 billion in 2024 to reach $6.3 billion by 2029, at a compound annual growth rate (CAGR) of 23.1% from 2024 through 2029.
The report explores AI technology's current and future potential in cancer applications, considering market drivers, restraints, and opportunities. It includes projections through 2029 and examines the competitive landscape. In this report, the market is segmented by application (screening, diagnosis, therapy, drug discovery, etc.), cancer type (breast, lung, prostate, etc.), and end-user (hospitals, diagnostic centers, etc.). It covers the regions of North America, Europe, Asia Pacific, and the Rest of the World. Company profiles offer insights into their business segments, financials, and recent developments.
This report is timely because AI and ML are becoming crucial in cancer care, helping to speed up drug research and improve diagnostic accuracy. It analyzes AI applications in various cancer types and uses, such as diagnosis and therapy, as well as emerging technologies and competitor activities.
The factors driving the market include:
AI in Drug Discovery and Development: AI significantly accelerates drug discovery by considering vast datasets to identify potential drug candidates more quickly and accurately than traditional methods. This leads to faster development of effective cancer treatments, reducing time and costs.
Increasing Incidence of Cancer: The rising number of cancer cases globally drives the demand for advanced diagnostic and treatment solutions. AI offers promising tools to improve early detection, personalized treatment plans, and enhance patient outcomes, making it a critical technology in addressing the growing cancer burden.
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Report Synopsis
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Report Metric |
Details |
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Base year considered |
2023 |
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Forecast period considered |
2024-2029 |
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Base year market size |
$1.8 billion |
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Market size forecast |
$6.3 billion |
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Growth rate |
CAGR of 23.1% for the forecast period of 2024-2029 |
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Segments covered |
Cancer Type, Application, End User |
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Regions covered |
North America, Europe, Asia-Pacific, Rest of the World |
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Countries covered |
U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Japan, India, South Korea, China, Australia, South America, Middle East, Africa |
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Market drivers |
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Interesting facts:
The report addresses the following questions:
1. How large will the market for AI in cancer get, and how fast will it grow?
2. Which market segments are covered in the report?
3. Which type will lead the market by 2029?
4. Which region leads the market?
Market leaders include:
Other related reports include:
Global Artificial Intelligence (AI) Market: Investments vs Potential: This report examines the global AI market, breaking it down by solution type and deployment mode. It covers AI technologies like machine learning, computer vision, NLP, and context-aware computing and explores their applications across various industries. The report includes regional analyses, market drivers, current trends, and profiles of major AI providers, with projections from 2024 to 2029.
Artificial Intelligence (AI) in Life Sciences Market: This report examines the global AI market in life sciences, estimating current and past revenues by product, application, end user, and region.
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Artificial Intelligence (AI) in Cancer( BIO196B )
Publish Date: Nov 2024
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