info@marketresearchfuture.com   📞  +1 (855) 661-4441(US)   📞  +44 1720 412 167(UK)
Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
Key Questions Answered
  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Why Choose Market Research Future?
  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/ universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.

AI in Oncology Market Research Report By Application (Diagnosis, Treatment Planning, Drug Discovery, Prognosis), By Technology (Machine Learning, Deep Learning, Computer Vision, Natural Language Processing), By Cancer Type (Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, Lymphoma), By Data Type (Imaging Data, Genomic Data, Clinical Data, Patient Reported Data), By Deployment Model (Cloud-based, On-premises, Hybrid) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032


ID: MRFR/HC/27956-HCR | 128 Pages | Author: Rahul Gotadki| October 2024

AI in Oncology Market Overview


The AI in Oncology Market Size was estimated at 10.36 (USD Billion) in 2022. The AI in Oncology Market is expected to grow from 13.46 (USD Billion) in 2023 to 141.4 (USD Billion) by 2032. The AI in Oncology Market CAGR (growth rate) is expected to be around 29.87% during the forecast period (2024 - 2032).

AI in Oncology Market Overview

Source Primary Research, Secondary Research, MRFR Database and Analyst Review


Key AI in Oncology Market Trends Highlighted


The proliferation of AI-powered technologies in healthcare has significantly impacted the field of oncology. The integration of AI into oncology has facilitated the development of novel therapies, enhanced diagnostic capabilities, and streamlined treatment planning.


Recent trends in AI in the oncology market include the increasing adoption of machine learning and deep learning algorithms for tumor detection, classification, and prediction of treatment outcomes.


Moreover, advancements in AI-driven drug discovery and development are transforming the pharmaceutical industry, leading to the identification of potential drug candidates and personalized treatment approaches.


Key market drivers include the rising prevalence of cancer, the growing need for personalized medicine, and the increasing demand for efficient and cost-effective healthcare solutions.


Opportunities for further exploration and capture lie in the integration of AI with other cutting-edge technologies, such as genomics and imaging techniques, to enhance clinical decision-making and improve patient outcomes.


AI in Oncology Market Drivers


Rising Prevalence of Cancer


Cancer is a leading cause of death worldwide, with an estimated 19.3 million new cases and 10.0 million deaths in 2020. The increasing incidence of cancer is attributed to factors such as population growth, aging, and unhealthy lifestyles.


The rising prevalence of cancer is driving the demand for advanced and effective treatment options, including AI-powered oncology solutions. AI algorithms can analyze large volumes of patient data to identify patterns and predict disease progression, enabling personalized and targeted treatment strategies.


This can lead to improved patient outcomes, reduced healthcare costs, and increased access to life-saving therapies.


Technological Advancements in AI


The rapid advancements in AI technology are revolutionizing the healthcare industry, including the field of oncology. AI algorithms are becoming increasingly sophisticated, enabling them to handle complex data analysis tasks and make accurate predictions.


The development of new AI techniques, such as deep learning and machine learning, has opened up new possibilities for cancer diagnosis, prognosis, and treatment. AI-powered tools can analyze medical images, such as MRI and CT scans, to identify tumors and classify them based on their characteristics.


This can assist radiologists in making more accurate diagnoses and determining the most appropriate treatment options.


Government Initiatives and Funding


Governments around the world are recognizing the potential of AI in improving healthcare outcomes and reducing healthcare costs. They are implementing initiatives and providing funding to support the development and adoption of AI-powered oncology solutions.


For instance, the US National Cancer Institute (NCI) has launched several programs to accelerate the integration of AI into cancer research and clinical practice. These initiatives aim to foster collaboration between researchers, clinicians, and industry partners to develop and validate AI algorithms for cancer detection, diagnosis, and treatment.


AI in Oncology Market Segment Insights


AI in Oncology Market Application Insights


The Application segment of the AI in Oncology Market is expected to witness significant growth in the coming years. Diagnosis held the largest share of the market in 2023, with a valuation of 4.02 USD billion. AI-powered diagnostic tools have revolutionized cancer detection by enhancing accuracy and efficiency.


For instance, AI algorithms can analyze complex medical images and identify patterns invisible to the human eye, leading to earlier and more precise diagnoses. Treatment Planning is another key application, with a projected market size of 2.93 USD billion in 2023.


AI algorithms can personalize treatment plans based on individual patient data, including medical history, tumor characteristics, and genetic profiles. This tailored approach optimizes treatment outcomes and reduces side effects.


Drug Discovery is also poised for growth, with an estimated market value of 2.41 USD billion in 2023. AI accelerates the identification and development of new cancer drugs by analyzing vast datasets of molecular and clinical information. By predicting drug efficacy and toxicity, AI streamlines the drug discovery process and improves the chances of success.


Prognosis is another important application, with a projected market size of 1.83 USD billion in 2023. AI algorithms can predict the likelihood of cancer recurrence and survival rates, aiding in treatment decision-making.


AI in Oncology Market By Application 2023-2032


Source Primary Research, Secondary Research, MRFR Database and Analyst Review


AI in Oncology Market Technology Insights


Technology is a key segment in the  AI in Oncology Market. Machine learning, deep learning, computer vision, and natural language processing are the major technologies used in AI-driven oncology solutions. Machine learning algorithms can analyze large datasets of patient data to identify patterns and make predictions about disease progression and treatment response.


Deep learning algorithms can be used to develop AI models that can interpret medical images, such as X-rays and CT scans, to identify cancer cells and other abnormalities. Computer vision techniques can be used to develop AI systems that can analyze patient videos and images to track disease progression and monitor treatment outcomes.


Natural language processing algorithms can be used to develop AI systems that can understand and interpret medical text, such as patient records and clinical notes, to extract relevant information and provide insights for decision-making.


The increasing adoption of these technologies in the development of AI-driven oncology solutions is expected to drive the growth of the Technology segment in the  AI in Oncology Market.


AI in Oncology Market Cancer Type Insights


Cancer Type Segment Insights and Overview The cancer type segment holds a significant share in the  AI in Oncology Market. Lung cancer, breast cancer, colorectal cancer, prostate cancer, and lymphoma are the major cancer types targeted by AI-driven solutions. The high prevalence of these cancers and the need for personalized treatment plans drive the demand for AI-powered tools.


In 2023, lung cancer accounted for the largest market share, followed by breast and colorectal cancers. By 2032, the breast cancer segment is projected to grow at the highest CAGR, owing to the rising incidence rates and increasing adoption of AI-based diagnostic and therapeutic approaches.


Prostate cancer and lymphoma also represent substantial market opportunities, with AI-powered solutions aiding in early detection, risk assessment, and treatment selection.


AI in Oncology Market Data Type Insights


The AI in Oncology Market is segmented based on Data Type into Imaging Data, Genomic Data, Clinical Data, and Patient Reported Data. Among these segments, Imaging Data is expected to hold the largest market share of around 45% by 2028.


This is primarily due to the increasing adoption of imaging technologies such as MRI, CT scans, and PET scans in cancer diagnosis and monitoring. Genomic Data is also expected to witness significant growth due to the rising demand for personalized medicine and the development of targeted therapies based on genetic profiling.


Clinical Data, which includes electronic health records, lab results, and treatment plans, is expected to contribute to the growth of the AI in the Oncology Market as it provides valuable insights into patient outcomes and treatment effectiveness.

Patient Reported Data, which includes patient-reported symptoms, side effects, and quality-of-life measures, is expected to gain traction due to its potential to improve patient-centered care and treatment decision-making. Overall, the increasing adoption of AI technologies in oncology is expected to drive the growth of the AI Oncology Market in the coming years.

AI in Oncology Market Deployment Model Insights


The AI in Oncology Market is segmented based on deployment model into cloud-based, on-premises, and hybrid. Among these, the cloud-based segment is expected to hold the largest market share in 2023 and is projected to continue its dominance throughout the forecast period.


The growth of this segment can be attributed to the increasing adoption of cloud computing services by healthcare providers, which offers benefits such as scalability, flexibility, and cost-effectiveness. On the other hand, the on-premises segment is expected to witness a steady growth rate during the forecast period due to the need for data security and privacy concerns associated with cloud-based solutions.


The hybrid segment is also expected to gain traction as it offers a combination of the benefits of both cloud-based and on-premises deployment models.


AI in Oncology Market Regional Insights


The AI in Oncology Market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. North America is the largest regional market for AI in Oncology, owing to the presence of a large number of key players and the high adoption of advanced technologies in healthcare. Europe is the second largest regional market, followed by Asia Pacific.


The Asia Pacific region is expected to witness the highest growth rate during the forecast period due to the increasing awareness about cancer and the rising adoption of AI in Oncology solutions in the region.


In 2023, the AI in Oncology Market was valued at 13.46 billion USD and is expected to reach 141.4 billion USD by 2032, exhibiting a CAGR of 29.87% during the forecast period.


AI in Oncology Market By Regional 2023-2032


Source Primary Research, Secondary Research, MRFR Database and Analyst Review


AI in Oncology Market Key Players and Competitive Insights


Major players in the AI Oncology Market are continuously focusing on the research and development of advanced AI technologies to enhance the accuracy and efficiency of cancer diagnosis and treatment. Leading AI in Oncology Market players are actively involved in strategic collaborations, partnerships, and acquisitions to expand their market reach and strengthen their product portfolio.


Partnerships between AI in Oncology Market development companies and healthcare providers have become increasingly common, enabling the seamless integration of AI-powered solutions into clinical workflows.


The competitive landscape is characterized by intense competition among established players and emerging startups, driving continuous innovation and pushing the boundaries of AI in Oncology Market technology.


Insilico Medicine is a leading company in the AI in Oncology Market space, known for its pioneering work in applying AI to drug discovery and development. The company's end-to-end AI platform, known as Pharma.


AI integrates cutting-edge techniques such as generative adversarial networks (GANs), deep learning, and reinforcement learning to identify novel drug targets, design new molecules, and predict their efficacy and safety. Insilico Medicine has established partnerships with major pharmaceutical companies, including Roche and Merck, to accelerate the development of new cancer therapies.


Another key competitor in the AI in Oncology Market is IBM Watson Health. IBM's AI-powered Watson for Oncology solution provides clinicians with personalized treatment recommendations, clinical trial matching, and real-time guidance during cancer care.


The platform leverages data from millions of patient records, scientific literature, and clinical trials to deliver evidence-based insights and support decision-making.


IBM Watson Health has partnered with leading healthcare institutions worldwide, including MD Anderson Cancer Center and the Mayo Clinic, to implement Watson for Oncology in clinical practice.


Key Companies in the AI in Oncology Market Include



  • Amazon Web Services

  • Google

  • Siemens Healthineers

  • Insilico Medicine

  • NVIDIA

  • Oracle

  • Tencent

  • General Electric Healthcare

  • Alibaba

  • Microsoft

  • Baidu

  • IBM

  • Relay Therapeutics

  • Exscientia


AI in Oncology Market Developments


The AI in Oncology market is projected to experience significant growth in the coming years, driven by factors such as the increasing prevalence of cancer, the rising adoption of AI technologies in healthcare, and the growing need for personalized and effective cancer treatments.


Key recent developments in the market include the launch of new AI-powered cancer detection and diagnostic tools, strategic partnerships between AI companies and pharmaceutical giants, and increasing investments in AI research and development by governments and private organizations.


Major players in the market include IBM Watson Health, Google Health, Microsoft Azure, NVIDIA, and Siemens Healthineers.


AI in Oncology Market Segmentation Insights


AI in Oncology Market Application Outlook



  • Diagnosis

  • Treatment Planning

  • Drug Discovery

  • Prognosis


AI in Oncology Market Technology Outlook



  • Machine Learning

  • Deep Learning

  • Computer Vision

  • Natural Language Processing


AI in Oncology Market Cancer Type Outlook



  • Lung Cancer

  • Breast Cancer

  • Colorectal Cancer

  • Prostate Cancer

  • Lymphoma


AI in Oncology Market Data Type Outlook



  • Imaging Data

  • Genomic Data

  • Clinical Data

  • Patient Reported Data


AI in Oncology Market Deployment Model Outlook



  • Cloud-based

  • On-premises

  • Hybrid


AI in Oncology Market Regional Outlook



  • North America

  • Europe

  • South America

  • Asia Pacific

  • Middle East and Africa

Report Attribute/Metric Details
Market Size 2022 10.36(USD Billion)
Market Size 2023 13.46(USD Billion)
Market Size 2032 141.4(USD Billion)
Compound Annual Growth Rate (CAGR) 29.87% (2024 - 2032)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Base Year 2023
Market Forecast Period 2024 - 2032
Historical Data 2019 - 2023
Market Forecast Units USD Billion
Key Companies Profiled Amazon Web Services, Google, Siemens Healthineers, Insilico Medicine, NVIDIA, Oracle, Tencent, General Electric Healthcare, Alibaba, Microsoft, Baidu, IBM, Relay Therapeutics, Exscientia
Segments Covered Application, Technology, Cancer Type, Data Type, Deployment Model, Regional
Key Market Opportunities Early cancer detection Personalized treatments Improved drug discovery Enhanced clinical decision-making Streamlined patient management
Key Market Dynamics Technological advancements Growing adoption of AI in healthcare Rising prevalence of cancer Increasing demand for personalized treatments Strategic collaborations and partnerships
Countries Covered North America, Europe, APAC, South America, MEA


Frequently Asked Questions (FAQ) :

The AI in Oncology Market size was valued at USD 13.46 billion in 2023.

The AI in Oncology Market is expected to reach USD 141.4 billion by 2032, exhibiting a CAGR of 29.87% during the forecast period (2024-2032).

North America is expected to dominate the AI in Oncology Market throughout the forecast period, owing to the presence of major market players, advanced healthcare infrastructure, and high adoption of AI technologies.

Key applications of AI in Oncology include cancer diagnosis, treatment planning, drug discovery, and patient monitoring.

Key competitors in the AI in Oncology Market include IBM, Google, Microsoft, NVIDIA, and Siemens Healthineers.

Major factors driving the growth of the AI in the Oncology Market include the increasing prevalence of cancer, the rising adoption of AI technologies in healthcare, and government initiatives supporting AI research.

Challenges faced by the AI in Oncology Market include data privacy and security concerns, lack of skilled professionals, and regulatory hurdles.

Opportunities for growth in the AI in Oncology Market include advancements in AI algorithms, increasing adoption of cloud computing, and collaborations between healthcare providers and AI companies.

Key trends shaping the AI in Oncology Market include the integration of AI with other technologies such as blockchain and IoT, the rise of personalized medicine, and the increasing use of AI for drug discovery and development.

AI is expected to revolutionize the oncology market by improving the accuracy and efficiency of cancer diagnosis, treatment, and patient care.

Leading companies partner with us for data-driven Insights
client_1 client_2 client_3 client_4 client_5 client_6 client_7 client_8 client_9 client_10
Kindly complete the form below to receive a free sample of this Report
Please fill in Business Email for Quick Response

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

Purchase Option
Single User $ 4,950
Multiuser License $ 5,950
Enterprise User $ 7,250
Compare Licenses
Tailored for You
  • Dedicated Research on any specifics segment or region.
  • Focused Research on specific players in the market.
  • Custom Report based only on your requirements.
  • Flexibility to add or subtract any chapter in the study.
  • Historic data from 2014 and forecasts outlook till 2040.
  • Flexibility of providing data/insights in formats (PDF, PPT, Excel).
  • Provide cross segmentation in applicable scenario/markets.