Global Artificial Intelligence in Oncology Market Size and Trends
The global artificial intelligence in oncology market size is expected to reach US$ 9,164.2 Mn by 2030, from US$ 1,200 Mn in 2023, at a CAGR of 33.7% during the forecast period.
Global Artificial Intelligence in Oncology Market Trends:
- Rise of precision medicine and personalized cancer care: The rise of precision medicine and personalized cancer care is having a significant impact on the artificial intelligence in oncology market. With precision medicine, treatments are tailored to the patient's individual genetic makeup and biomarkers. By identifying specific genomic alterations and mutations, clinicians can develop tailored treatment plans targeting the molecular pathways that are driving a patient's cancer. This approach relies heavily on analyzing large volumes of genomic and biomarker data from individual patients. Artificial intelligence is uniquely suited to supporting precision oncology by helping clinicians analyze these huge datasets and identify patterns that can guide treatment decisions. AI solutions that leverage techniques like machine learning, deep learning, and natural language processing are being developed and deployed to assist in areas like genomic pattern recognition, treatment recommendation engines, clinical trial matching, and more.
- High diagnostic accuracy of AI systems over humans: The high diagnostic accuracy of AI systems compared to humans is having a significant impact on the artificial intelligence in oncology market. AI and machine learning algorithms that are being used for medical imaging analysis and precision medicine have been shown to diagnose diseases like cancer faster and more accurately than humans alone. This increased accuracy of AI is leading to greater adoption of these systems by hospitals and oncology clinics.
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