Dublin, April 03, 2023 (GLOBE NEWSWIRE) -- The "AI in Oncology for Analytical Solutions Market by Cancer Type, by Component, and by Region - Global Forecast to 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The AI in oncology for analytical solutions market size is estimated to be USD 624.7 million in 2022 and is expected to witness a CAGR of 35.11% during the forecast period 2023-2033.
Increasing healthcare infrastructure globally and growing use of AI-powered telemedicine tools for disease diagnosis and treatment planning, as well as remote monitoring of patients are some of the factors contributing to the market growth.
Furthermore, rise in research activities for integrating AI into several cancer therapies and the increasing prevalence of cancer are other factors supporting the market growth. However, expensive start-up costs and worries about replacing the human labour expected to hinder the growth.
Increasing healthcare infrastructure globally is expected to propel the market growth during the forecast period. For instance, in July 2021, The Fourth Industrial Revolution for Sustainable Transformation (FIRST) of the Cancer Care project was introduced by the Centre for Fourth Industrial Revolution of the World Economic Forum India.
It aims to use cutting-edge technologies like artificial intelligence, the Internet of Things, and block-chain to deliver high-quality, affordable, and accessible care in India. As a result, market growth is anticipated to be driven by the expansion of the healthcare infrastructure throughout the course of the forecast period.
Rise in research activities for integrating AI into several cancer therapies is expected to fuel the market growth during the forecast period. For instance, in June 2022, The CURATE was a chemotherapeutic research project. A tailored digital profile of the patient is created using an AI solution created by the National University of Singapore. This solution makes use of clinical data such as drug dose, medicines, and biomarkers.
This offers customized chemotherapy dosage recommendations, improving the prognosis for cancer patients. The application of AI in oncology offers a number of benefits, such as the capacity to tailor dosages, which minimizes side effects, the use of AI models to reliably forecast cancer recurrence, and high precision. As a result, market growth will be fueled by an increase in the target population's acceptance of such items.
Regional Markets
In 2022, North America region accounted for the highest revenue in the cold plasma market during the forecast period. This is due to elements like the availability of internet infrastructure and helpful governmental policy. Oncology services are likely to become more popular in the area as a result of increased government reimbursements.
Furthermore, the governments in the area are spending more money on digital healthcare, which is anticipated to improve the IT infrastructure required to give patients access to AI solutions. For instance, according to a study by the Lancet Digital Health, utilising AI for screening might prevent 7,194 cases of colorectal cancer and 2,089 deaths connected to the disease each year, as well as save USD 290 million yearly, assuming 60% of the US population has screening colonoscopies.
Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period due to several elements, including the ageing populations in nations like India and Japan and the expanding use of digital technologies in healthcare and diagnostic centres.
For instance, in June 2022, the launch of an AI-assisted colorectal screening by Singapore-based healthcare provider Farrer Park Hospital. The monitoring, detection, screening, and categorization of colorectal polyps and cancer are all improved by this service's usage of AI techniques. To help with patient outcomes, the AI technology notifies doctors in real-time of suspicious polyps and lesions.
Competitor Insights
A selection of companies mentioned in this report includes
- GE Healthcare
- Azra AI
- IBM
- Concert.AI
- Intel
- Path AI
- Digital Diagnostics Inc.
- Siemens Healthineers
- Median Technologies
- NVIDIA
Segmentation: AI in Oncology for Analytical Solutions Market Report 2022 - 2033
By Cancer Type (Revenue, USD Million), 2022 - 2033
- Kidney Cancer
- Lung Cancer
- Brain Tumor
- Prostate Cancer
- Bladder Cancer
- Breast Cancer
- Colorectal Cancer
- Non-Hodgkin Lymphoma
By Component (Revenue, USD Million), 2022 - 2033
Software Solutions
- Pharmaceuticals
- Providers
- Payers
Data Licensing Services
- Pharmaceuticals
- Providers
- Payers
Analytics and Other Services
- Pharmaceuticals
- Providers
- Payers
By Region (Revenue, USD Million), 2022 - 2033
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
For more information about this report visit https://www.researchandmarkets.com/r/6om98z
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