GLOBAL ARTIFICIAL INTELLIGENCE IN ONCOLOGY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Global Artificial Intelligence in Oncology Market, By Component (Software/Platform, Hardware, Services), By Cancer Type (Breast Cancer, Lung Cancer, Prostate Cancer, Colorectal Cancer, Brain Tumor, Others), By Treatment Type (Chemotherapy, Radiotherapy, Immunotherapy, Others), By End User (Hospitals & Clinics, Diagnostic Centers, Biopharmaceutical Companies, Others), By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)

Published In : Dec 2023
Code : CMI6509
Pages :180
Formats :
Excel and PDF
Industry : Healthcare IT

Regional Analysis

Global Artificial Intelligence in Oncology Market Regional Insights:

North America has established itself as the dominant region in the artificial intelligence in oncology market. This can be attributed to factors such as the strong foothold of key market players and their focus on developing advanced AI solutions for cancer diagnosis and treatment in the region. The region is home to various leading technology companies that are investing heavily in AI research and its implementation in the healthcare sector. Moreover, the presence of top cancer institutes and hospitals and their active collaboration with AI firms have ensured North America stays at the forefront of deploying and testing latest AI tools. Government initiatives to integrate cutting-edge digital health technologies into the existing healthcare infrastructure have made North America an attractive market for AI vendors. The availability of a skilled workforce and a larger patient pool have encouraged local and global businesses to launch new AI-powered cancer screening, prognosis, and monitoring solutions.
Europe region is expected to be the second largest market for the global artificial intelligence in oncology market during the forecast period. Increasing healthcare expenditures have boosted market opportunities. The increasing prevalence of diseases such as cancer, growing funding for AI in cancer research, the high diagnostic accuracy of AI systems over humans, and others are key factors propelling market growth in Europe.
The Asia Pacific market is expected to hold the third-largest market share for the global artificial intelligence in oncology market during the forecast period. Rapid digitization of the healthcare systems and rising acceptance of precision medicine approaches in major countries such as China, Japan, and India are driving the Asia Pacific market. Asia Pacific presents lucrative opportunities owing to the rise in cancer incidence rates due to lifestyle changes and the growing geriatric population. At the same time, the focus on containing healthcare costs and the need to improve access and outcomes have prompted governments to invest in AI-driven cancer applications. This has provided the much-needed impetus.