AI in Oncology Market

The AI in oncology market is projected to reach USD 11.52 billion by 2030 from USD 2.45 billion in 2024, at a CAGR of 29.4% from 2024 to 2030. The major factors driving the growth of market include high prevalence of cancer, early cancer diagnosis, precison oncology, and support in drug discovery process. In case of precision oncology, AI helps to analyze genetic, clinical, and lifestyle information efficiently and then develop tailored treatment strategies for individual patients. Further, AI plays a giant role to support drug discovery process by indentifying the potential candidates for trials and by analyzing their efficacy. AI also helps in early cancer diagnostics by integrating with imaging tools such as MRI, and CT scans, among others and identifying accurate cancer interpretation.

The major players in the AI in oncology market with a significant global presence are Siemens Healthineers (Germany), GE Healthcare (US), ConcertAI (US), Medtronic (Ireland), F. Hoffmann-La Roche Ltd (Switzerland), Oracle(US), NVIDIA Corporation(US), Koninklijke Philips N.V. (Netherlands), PathAI, Inc. (US), CureMetrix, Inc. (US), Mindpeak GmbH (Germany), Paige AI, Inc. (US), Predictive Oncology (US), Exscientia (UK), Insilico Medicine (US), Iktos (Paris), Tempus (US), Azra AI (US), CureMatch, Inc. (US), OncoLens (US), Triomics (US), Clinakos. (US), Perthera, Inc (US), Cellworks Group, Inc. (US), and biomy, Inc. (Japan). The market players have adopted strategies such as acquisitions, collaborations, partnerships, mergers, product/service launches & enhancements, and approvals to strengthen their position in the biosimulation market. The product and technology innovations have helped the market players expand globally by enhancing treatment efficacy, improving patient outcomes, and addressing unmet medical need.

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Siemens Healthineers

Siemens Healthineers is one of the leading healthcare companies globally that help healthcare provider worldwide to offer affordable high-quality care of patients. With a track record of 120 years, the company is consistently delivering groundbreaking solutions and offers diverse range of portfolio, including laboratory diagnostics, medical imaging, healthcare IT, therapeutic and molecular diagnostics, and consulting services.
Further, Siemens Healthineers is supporting the AI use in healthcare, particularly in cancer care for early detection, diagnosis, and therapy planning. Recently, the company developed AI-Rad Companion and Ethos Therapy that provides automated support in imaging, therapy planning, and adaptive treatments, reducing diagnosis time and enhancing treatment quality.

Further, the company has global footprint with a strong local presence, supported by over 600,000 installed systems and more than 4,400 collaborations worldwide with 46,000 employees worldwide, ensuring timely and efficient services.

GE Healthcare

GE HealthCare specializes in medical technology, digital solutions, and care innovations, at a global level supporting over 1 billion patients annually and operating in more than 160 countries. The company offers comprehensive portfolio including monitoring devices, intelligent devices, and imaging diagnostics with more than 200 imaging software applications. GE HealthCare is supporting the use of AI to enhance cancer care. For instance, company’s AI- driven initiatives such as the Health Companion project and AI Innovation Lab, help in aiding personalized treatment planning. The company also supports AI tools for breast cancer recurrence prediction, maternal care advancements, and multimodal X-ray diagnostics. Moreover, GE Healthcare has over 80 FDA-approved AI devices.

Medtronic

Medtronic is one of the major players in the medical devices and therapies market with more than 95,000 employees and presence in over 150 countries. The company helps to alleviate pain, extend life, and restore health by offering diverse solutions portfolio including diabetes care, cardiac and vascular care, minimally invasive therapies, surgical innovations, and spine and neurological treatments. Medtronic highly supports the use of AI in cancer care for early detection and diagnosis. For instance, in order to improve colorectal cancer detection the company launched GI Genius intelligent that helps to identify polyps in real-time during colonoscopy procedures.

Related Reports:

AI in Oncology Market by Player Type (Integrated Suite), Application (Drug Discovery, De Novo Drug Design, Diagnosis, Precision Medicine, Genomic), Technology (CNN, NLP), Cancer Type (Lung), End User (Hospitals, Pharma), & Region - Global Forecast to 2030

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