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Report
Artificial Intelligence (AI) in Cancer
Market Research Report I 2024-11-19 I 111 Pages I BCC Research
Description
Report Scope:
The report highlights AI technology's current and future market potential for cancer applications. It provides a detailed analysis of the market drivers, restraints and opportunities. The report also covers market projections through 2029 and presents a competitive environment and product analysis. The report provides market estimates and forecasts based on application, cancer type and region. By application type, the market is segmented into cancer screening, diagnosis, therapy, drug discovery and development and others. By cancer type, the market is segmented into breast, lung, prostate, gastrointestinal, brain and others. By end user, the market is segmented into hospitals, diagnostic centers, pharmaceutical companies and research institutions. The report includes profiles of the key companies with detailed information about their business segments, financials, product portfolios and recent developments.
By geographical region, the market is segregated into North America, Europe, Asia Pacific and the Rest of the world. The North American region includes countries the U.S., Canada and Mexico. Europe includes Germany, the U.K., Italy, France, Spain and the Rest of Europe; Asia-Pacific includes China, Japan, India, South Korea, Australia and the Rest of Asia-Pacific. For market estimates, data is provided for 2021 and 2022 as the historic years, 2023 as the base year and 2029 as the forecast year.
Report Includes:
- 42 data tables and 44 additional tables
- An up-to-date overview of the global markets for artificial intelligence (AI) in cancer
- Analysis of the global market trends, with data from 2021-2023, estimates for 2024, and projections of compound annual growth rates (CAGRs) through 2029
- Evaluation of the size of the market for artificial intelligence (AI) in cancer and revenue growth prospects, accompanied by a market share analysis by type, application, end user and region
- Assessment of market dynamics such as drivers, restraints and opportunities
- Coverage of current and emerging applications of AI in cancer and information on theranostics and generative AI tools
- A discussion on ESG challenges and practices in the industry
- Assessment of the vendor landscape, including the market shares of key companies, their product portfolios and financial overviews
- Information on recent mergers, acquisitions, expansions, collaborations, investments, divestments, product launches, and other strategic developments
- Company profiles of major players within the industry, including Siemens Healthineers, GE Healthcare, NVIDIA Corp., and Lunit Inc.
Executive Summary
Summary:
In 2023, the global market for artificial intelligence (AI) in cancer was valued at $1.8 billion. The market is predicted to grow at a CAGR of 23.1% to reach $6.3 billion at the end of 2029.
Market growth drivers include an increasing cancer incidence and the growing application of AI for cancer drug discovery and development. Data collection and handling challenges, false positives and AI bias are expected to challenge market growth.
This report segments the global market for AI in cancer by cancer type, application, end user and region. Based on cancer type, the breast cancer segment, accounted for the largest share among cancer types in 2023. It is expected to grow at a CAGR of 21.8% during the forecast period.
By application, the diagnosis segment is predicted to grow at a CAGR of 23.7% during the forecast period. This segment, which accounted for 35.7% of the market among applications in 2023, is expected to reach $2.3 billion at the end of 2029.
By end user, hospitals as a segment accounted for 55.8% of the market among end users in 2023. This segment is expected to grow at a CAGR of 23.4% during the forecast period, reaching a value of $3.6 billion at the end of 2029.
By region, North America accounted for the largest market share of 44.8% among all regions in 2023. The large share can be attributed to the rising number of AI startups and the increasing occurrence of cancers like breast and prostate.
Table of Contents
Chapter 1 Executive Summary
Market Outlook
Scope of Report
Market Insights
Chapter 2 Market Overview
Overview
Current and Emerging Applications of AI in Cancer
Diagnosis
Therapy
Screening and Early Detection
Drug Discovery and Development
Chapter 3 Market Dynamics
Market Dynamics Snapshot
Market Drivers
AI in Drug Discovery and Development
Increasing Incidence of Cancer
Market Restraints
Data Collection and Privacy
False Positives and Bias
Market Opportunities
AI-Enabled Hardware Products
Chapter 4 Emerging Technologies
Introduction
AI for Multi-Cancer Early Detection
Theranostics and AI
Generative AI Tools
Federated Learning
Chapter 5 Market Segmentation Analysis
Segmentation Breakdown
Market Analysis by Cancer Type
Breast Cancer
Lung Cancer
Prostate Cancer
Gastrointestinal Cancer
Brain Cancer
Other Cancers
Market Analysis by Application
Diagnosis
Drug Discovery and Development
Therapy
Cancer Screening
Other Applications
Market Analysis by End User
Market Size and Forecast
Hospitals
Diagnostic Centers
Pharmaceutical Companies
Research Institutions
Geographic Breakdown
Market Analysis by Region
Market Size and Forecast
North America
Europe
Asia-Pacific
Rest of the World
Chapter 6 Competitive Intelligence
Overview
Partnerships
M&A Activities
Investments and Funding
Patent Analysis
Chapter 7 Sustainability in the AI in the Cancer Market
Introduction
Sustainability in AI in the Cancer Industry
Understanding the ESG Data
Environmental Performance
Social Performance
Governance Performance
Concluding Remarks from BCC
Chapter 8 Appendix
Methodology
Sources
Abbreviations
Company Profiles
AZRA AI
CONCERTAI
GE HEALTHCARE
ICAD INC.
LUNIT INC.
MEDIAN TECHNOLOGIES
NVIDIA CORP.
QUEST DIAGNOSTICS INC.
SIEMENS HEALTHINEERS AG
List of Tables
Summary Table : Global Market for AI in Cancer, by Region, Through 2029
Table 1 : Incidence and Mortality Rates of Cancer Across Regions, 2022
Table 2 : Global Market for AI in Cancer, by Cancer Type, Through 2029
Table 3 : Select List of AI-Based Tools for Breast Cancer
Table 4 : Global Market for AI in Breast Cancer, by Region, Through 2029
Table 5 : Select List of AI-Based Tools for Lung Cancer
Table 6 : Global Market for AI in Lung Cancer, by Region, Through 2029
Table 7 : Select List of AI-Based Tools for Prostate Cancer
Table 8 : Global Market for AI in Prostate Cancer, by Region, Through 2029
Table 9 : Select List of AI-Based Tools for Gastrointestinal Cancers
Table 10 : Global Market for AI in Gastrointestinal Cancers, by Region, Through 2029
Table 11 : Global Market for AI in Brain Cancer, by Region, Through 2029
Table 12 : Global Market for AI in Other Cancer Types, by Region, Through 2029
Table 13 : Global Market for AI in Cancer, by Application, Through 2029
Table 14 : Global Market for AI in Cancer Diagnosis, by Region, Through 2029
Table 15 : Select Companies Using AI for Drug Discovery
Table 16 : Global Market for AI in Cancer Drug Discovery and Development, by Region, Through 2029
Table 17 : Global Market for AI in Cancer Therapy, by Region, Through 2029
Table 18 : Global Market for AI in Cancer Screening, by Region, Through 2029
Table 19 : Global Market for AI in Other Applications, by Region, Through 2029
Table 20 : Global Market for AI in Cancer, by End User, Through 2029
Table 21 : Global Market for AI in Cancer for Hospitals, by Region, Through 2029
Table 22 : Global Market for AI in Cancer for Diagnostic Centers, by Region, Through 2029
Table 23 : Global Market for AI in Cancer for Pharmaceutical Companies, by Region, Through 2029
Table 24 : Global Market for AI in Cancer for Research Institutions, by Region, Through 2029
Table 25 : Global Market for AI in Cancer, by Region, Through 2029
Table 26 : North American Market for AI in Cancer, by Country, Through 2029
Table 27 : North American Market for AI in Cancer, by Cancer Type, Through 2029
Table 28 : North American Market for AI in Cancer, by Application, Through 2029
Table 29 : North American Market for AI in Cancer, by End User, Through 2029
Table 30 : European Market for AI in Cancer, by Country, Through 2029
Table 31 : European Market for AI in Cancer, by Cancer Type, Through 2029
Table 32 : European Market for AI in Cancer, by Application, Through 2029
Table 33 : European Market for AI in Cancer, by End User, Through 2029
Table 34 : Asia-Pacific Market for AI in Cancer, by Country, Through 2029
Table 35 : Asia-Pacific Market for AI in Cancer, by Cancer Type, Through 2029
Table 36 : Asia-Pacific Market for AI in Cancer, by Application, Through 2029
Table 37 : Asia-Pacific Market for AI in Cancer, by End User, Through 2029
Table 38 : Select Chinese Companies Using AI for Cancer
Table 39 : RoW Market for AI in Cancer, by Cancer Type, Through 2029
Table 40 : RoW Market for AI in Cancer, by Application, Through 2029
Table 41 : RoW Market for AI in Cancer, by End User, Through 2029
Table 42 : Select Strategic Alliances in the AI in Cancer Industry, 2022-2024
Table 43 : AI in the Cancer Industry: Select M&A Activities, 2022-2024
Table 44 : Major Funding Activities of AI in the Cancer Industry, 2022-2024
Table 45 : Select Active Patents of the Key Competitor Companies, 2024
Table 46 : ESG Rankings for Major Cancer AI Companies, 2024*
Table 47 : ESG: Environmental Overview
Table 48 : ESG: Social Overview
Table 49 : ESG: Governance Overview
Table 50 : Report Sources
Table 51 : Glossary of Terms Used in the AI in the Cancer Market
Table 52 : Azra AI: Company Snapshot
Table 53 : Azra AI: Product Portfolio
Table 54 : Azra AI: News/Key Developments, 2023 and 2024
Table 55 : ConcertAI: Company Snapshot
Table 56 : ConcertAI: Product Portfolio
Table 57 : ConcertAI: News/Key Developments, 2022-2024
Table 58 : GE HealthCare: Company Snapshot
Table 59 : GE HealthCare: Financial Performance, FY 2022 and 2023
Table 60 : GE HealthCare: Product Portfolio
Table 61 : GE HealthCare: News/Key Developments, 2024
Table 62 : iCAD Inc.: Company Snapshot
Table 63 : iCAD Inc.: Financial Performance, FY 2022 and 2023
Table 64 : iCAD Inc.: Product Portfolio
Table 65 : iCAD Inc.: News/Key Developments, 2024
Table 66 : Lunit Inc.: Company Snapshot
Table 67 : Lunit Inc.: Financial Performance, FY 2022 and 2023
Table 68 : Lunit Inc.: Product Portfolio
Table 69 : Lunit Inc.: News/Key Developments, 2023 and 2024
Table 70 : Median Technologies: Company Snapshot
Table 71 : Median Technologies: Financial Performance, FY 2022 and 2023
Table 72 : Median Technologies: Product Portfolio
Table 73 : Median Technologies: News/Key Developments, 2023
Table 74 : NVIDIA Corp.: Company Snapshot
Table 75 : NVIDIA Corp.: Financial Performance, FY 2022 and 2023
Table 76 : NVIDIA Corp.: Product Portfolio
Table 77 : NVIDIA Corp.: News/Key Developments, 2022
Table 78 : Quest Diagnostics Inc.: Company Snapshot
Table 79 : Quest Diagnostics Inc.: Financial Performance, FY 2022 and 2023
Table 80 : Quest Diagnostics Inc.: Product Portfolio
Table 81 : Quest Diagnostics Inc.: News/Key Developments, 2024
Table 82 : Siemens Healthineers AG: Company Snapshot
Table 83 : Siemens Healthineers AG: Financial Performance, FY 2022 and 2023
Table 84 : Siemens Healthineers AG: Product Portfolio
Table 85 : Siemens Healthineers AG: News/Key Developments, 2024
List of Figures
Summary Figure : Global Market Shares of AI in Cancer, by Region, 2023
Figure 1 : Applications of AI in Cancer Care
Figure 2 : Role of AI in Cancer Drug Discovery and Development
Figure 3 : Market Dynamics of AI in Cancer Market
Figure 4 : Emerging Technologies in AI in Cancer Market
Figure 5 : Global Market Shares of AI in Cancer, by Cancer Type, 2023
Figure 6 : Global Market Shares of AI in Cancer, by Application, 2023
Figure 7 : Application of AI in Cancer Diagnosis
Figure 8 : Global Market for AI in Cancer Diagnosis, 2021-2029
Figure 9 : Global Market for AI in Cancer Drug Discovery and Development, 2021-2029
Figure 10 : Global Market for AI in Cancer Therapy, 2021-2029
Figure 11 : Global Market for AI in Cancer Screening, 2021-2029
Figure 12 : Global Market for AI in Other Applications, 2021-2029
Figure 13 : Global Market Shares of AI in Cancer, by End User, 2023
Figure 14 : Global Market for AI in Cancer for Hospitals, 2021-2029
Figure 15 : Global Market for AI in Cancer for Diagnostic Centers, 2021-2029
Figure 16 : Global Market for AI in Cancer for Pharmaceutical Companies, 2021-2029
Figure 17 : Global Market for AI in Cancer for Research Institutions, 2021-2029
Figure 18 : Global Market Shares of AI in Cancer, by Region, 2023
Figure 19 : Global Market for AI in Cancer, by Region, 2021-2029
Figure 20 : North American Market Shares of AI in Cancer, by Country, 2023
Figure 21 : U.S. Market for AI in Cancer, 2021?2029
Figure 22 : Canadian Market for AI in Cancer, 2021?2029
Figure 23 : Mexican Market for AI in Cancer, 2021?2029
Figure 24 : European Market Shares of AI in Cancer, by Country, 2023
Figure 25 : German Market for AI in Cancer, 2021?2029
Figure 26 : French Market for AI in Cancer, 2021?2029
Figure 27 : Italian Market for AI in Cancer, 2021?2029
Figure 28 : Spanish Market for AI in Cancer, 2021?2029
Figure 29 : U.K. Market for AI in Cancer, 2021?2029
Figure 30 : Rest of European Market for AI in Cancer, 2021?2029
Figure 31 : Asia-Pacific Market Shares of AI in Cancer, by Country, 2023
Figure 32 : Chinese Market for AI in Cancer, 2021?2029
Figure 33 : Japanese Market for AI in Cancer, 2021?2029
Figure 34 : Indian Market for AI in Cancer, 2021?2029
Figure 35 : Australian Market for AI in Cancer, 2021?2029
Figure 36 : South Korean Market for AI in Cancer, 2021?2029
Figure 37 : Rest of Asia-Pacific Market for AI in Cancer, 2021?2029
Figure 38 : Snapshot of the ESG Pillars
Figure 39 : Advantages of ESG for Companies
Figure 40 : GE Healthcare: Revenue Share, by Business Unit, FY 2023
Figure 41 : GE Healthcare: Revenue Share, by Country/Region, FY 2023
Figure 42 : iCAD Inc.: Revenue Share, by Business Unit, FY 2023
Figure 43 : iCAD Inc.: Revenue Share, by Country/Region, FY 2023
Figure 44 : Lunit Inc.: Revenue Share, by Business Unit, FY 2023
Figure 45 : Lunit Inc.: Revenue Share, by Country/Region, FY 2023
Figure 46 : Median Technologies: Revenue Share, by Country/Region, FY 2023
Figure 47 : NVIDIA Corp.: Revenue Share, by Business Unit, FY 2023
Figure 48 : NVIDIA Corp.: Revenue Share, by Country/Region, FY 2023
Figure 49 : Quest Diagnostics Inc.: Revenue Share, by Business Unit, FY 2023
Figure 50 : Siemens Healthineers AG: Revenue Share, by Business Unit, FY 2023
Figure 51 : Siemens Healthineers AG: Revenue Share, by Country/Region, FY 2023
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