Dublin, Nov. 14, 2024 (GLOBE NEWSWIRE) -- The "Artificial Intelligence (AI) in Oncology Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The integration of Artificial Intelligence (AI) in oncology is reshaping the future of cancer care, with a robust CAGR of 35.43% anticipated between 2024 and 2029. This remarkable growth trajectory is set to propel the AI in the oncology market from US$1.963 billion to a staggering US$8.944 billion by the end of the forecast period. Innovations in AI are significantly enhancing early cancer detection and treatment, marking a new era of precision and personalization in oncology services.
Driving Forces Behind the Surging AI in Oncology Market
Artificial Intelligence extends multiple benefits in the realm of oncology, acting as a key growth driver in the market. AI's capabilities in analyzing medical imaging and patient data are surpassing traditional methods, leading to early and accurate cancer diagnoses, and optimizing treatment plans. This technological leap brings hope for improved survival rates and quality of life for cancer patients worldwide.
North American Region at the Forefront of Market Expansion
North America is predicted to secure a considerable market proportion over the forecast period, with AI reshaping the oncology landscape. The adaptation of AI in cancer treatment in the region is increasing efficiency and reducing costs without compromising treatment quality. With the prevalence of cancer on the rise and a demographic shift toward an aging population, North America's strong healthcare infrastructure is well-positioned to harness AI technology for oncological advancements.
Why This Market Analysis Matters
This analysis provides critical insights into how AI is transforming oncology practice and patient care, offering a comprehensive geographical outlook and identifying the driving factors behind the market’s rapid growth. It serves as an essential tool for stakeholders across the healthcare industry, from startups to multinational corporations, to make informed strategic decisions, explore new market opportunities, and stay abreast of competitive dynamics.
Snapshot of Market Dynamics
The AI in the oncology market is meticulously segmented and analyzed, providing detailed forecasts and assessments. This includes a deep dive into component types, such as software solutions, hardware, and services; cancer types, including breast, lung, prostate, colorectal cancers, brain tumors, and more; and treatment types like chemotherapy, radiotherapy, and immunotherapy. To buttress the global perspective, the analysis includes tailored insights into key regions and countries, equipping decision-makers with crucial data to navigate the ever-evolving landscape of cancer care.
In conclusion, AI's transformative power in oncology is poised to enhance life expectancy and treatment outcomes for cancer patients globally, spotlighting a sea change in healthcare innovation and delivery. The industry is on the cusp of a revolution, with AI at its helm, and the market's significant growth prospects serve as a testament to this groundbreaking era in cancer treatment.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 140 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $1.96 billion |
| Forecasted Market Value (USD) by 2029 | $8.94 billion |
| Compound Annual Growth Rate | 35.4% |
| Regions Covered | Global |
Some of the key companies profiled in this Artificial Intelligence (AI) in Oncology Market report include:
- Azra AI
- IBM
- Siemens Healthcare GmbH
- Intel Corporation
- GE HealthCare
- NVIDIA Corporation
- Digital Diagnostics Inc.
- ConcertAI
- Median Technologies
- PathAI
For more information about this report visit https://www.researchandmarkets.com/r/302rkr
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