Global Artificial Intelligence (AI) in Cancer Diagnostic

Global Artificial Intelligence (AI) in Cancer Diagnostic Market Research Report: Forecast (2021-2026)

By Application (Screening & Diagnosis, Tumor Identification, Treatment, Surveillance) By Cancer Type (Breast Cancer, Prostate Cancer, Lung Cancer, Colorectal Cancer, Cervical Cancer, Other (Pancreatic Read more

  • Healthcare
  • Aug 2021
  • 232
  • HC44016

The integration of artificial intelligence technology, such as machine learning, predictive analysis, etc., in a complete process of cancer treatment in a human body from diagnosis to post-treatment surveillance is referred to as AI in Cancer Diagnostics.

The Global Artificial Intelligence (AI) in Cancer Diagnostic Market is anticipated to grow at a CAGR of around 40.1% during the forecast period, i.e., 2021-26, says MarkNtel Advisors in their research reportThe rising number of cancer cases worldwide is the most prominent factor contributing to the market growth. Additionally, the rapidly growing number of startup companies providing services on almost the same base all across the globe drives the market growth. 

The research report “Global Artificial Intelligence (AI) in Cancer Diagnostic Market Analysis, 2021” also states that the automated capabilities of AI offer the potential to enhance diagnostics and treatment quality. Hence, the demand for integrating artificial intelligence technology in cancer diagnostics is significantly increasing, which would fuel the overall market growth in the coming years.

Report Coverage Details
Study Period Historical Data: 2016-19
Base Year: 2020
Forecast Period: 2021-26
CAGR 40.1%
Regions Covered North America: USA, Canada
Europe: Germany, UK, France, Italy, Spain, Russia
Asia-Pacific: China, India, Japan, South Korea, Australia and Others
South America: Brazil, Mexico
Middle East & Africa: Saudi Arabia, South Africa
Key Companies Profiled Pfizer, Therapixel, Sophia Genetics, Freenome, Tempus, Janssen Pharmaceutica, Path AI, Google Deep Mind, IBM, Microsoft, Cerner Corporation, RaySearch Laboratories, Flatiron, Oncology Analytics, Inc, Oncora Medical, and Others.
Unit Denominations USD Million/Billion

 

Impact of COVID-19 Outbreak on Global Artificial Intelligence (AI) in Cancer Diagnostic Market 

Last year, almost all economies in the world faced around a 30% slump. The usage of AI in cancer diagnostics also experienced a slight dip due to the shift in the healthcare industry's focus towards solving the current problem of the Coronavirus pandemic. The COVID-19 crisis impacted cancer patient visits for treatment. 

Further, the pandemic resulted in delays in diagnosis, suspension of screening programs, health system closures, and reduced access to a healthcare facility. These factors led to a short-term decline in cancer incidence, increasing advanced-stage diagnoses, and cancer mortality.

Global Artificial Intelligence (AI) in Cancer Diagnostic Market Research Report: Forecast (2021-2026)

Market Segmentation

By Application:

Screening & Diagnosis Acquired the Largest Share of the Global Artificial Intelligence (AI) in Cancer Diagnostic Market

Based on the Application, the market bifurcates into Screening & Diagnosis, Tumor Identification, Treatment, and Surveillance. AI in Cancer Diagnostics proved to be very useful in screening & detection globally during 2016-19. Thus, screening & detection acquired the largest share in the overall market. AI technology is known to scan tumors and abnormalities that a human eye cannot. It notably reduces the risk or chance of missing any detail that might be necessary during the treatment.

In 2021, Ibex Medical Analytics, an Israeli startup company, raised approximately USD 38 million for rapidly spreading AI-driven cancer diagnostics in labs & healthcare sectors across North America & Europe. Hence, the awareness of the application of AI in cancer diagnostics would surge the market share of screening and detection in the AI in Cancer Diagnostics Market globally, cites MarkNtel Advisors in their research report, “Global Artificial Intelligence (AI) in Cancer Diagnostic Market Analysis, 2021.”  

By Cancer Type:

Breast Cancer is the Most Common Cancer Among Women

Based on the Cancer Type, the market segments into Breast Cancer, Prostate Cancer, Lung Cancer, Colorectal Cancer, Cervical Cancer, and Others, including Pancreatic, Skin, Blood, etc. Among these segments, Breast cancer is the most common cancer among women worldwide and the second most common cancer in total. According to WHO, there were 2.3 million women diagnosed with breast cancer and 685 000 deaths globally last year.

By the end of 2020, there were 7.8 million women alive who were diagnosed with breast cancer in the past five years, making it the world’s most widespread cancer. Hence, it immensely signifies the requirement of AI in cancer diagnostics for breast cancer treatment. Further, according to WHO, early diagnostics of cancer can severely reduce the risk of fatality and increase the chance of complete cure, which can be achieved easily by integrating AI technology in the screening & detection of breast cancer.

By End-User:

Diagnostics Centers Attained the Largest Share of Artificial Intelligence (AI) in Cancer Diagnostic Market

Based on the End-User, the market bifurcates into Hospitals, Medical Research Institutes, Diagnostics Centers, and Contract Research Organizations. Of these segments, Diagnostic Centers accounted for the majority share in Global AI in Cancer Diagnostics Market during 2016-19. It primarily attributes to the considerable adoption of AI technology for the screening & detection of cancer in the human body. 

Diagnostic centers include necessary equipment and trained staff & medical professionals that can assist them in the process of diagnosis. Legitimate diagnostic centers & diagnoses play a crucial role in identifying disease at an early stage. If the disease gets diagnosed at the initial stages, it reduces the risk of trial & error treatment, and the patient is further not exposed to harmful X-rays. Hence, the integration of AI helps pinpoint & evaluate the cancer type and evaluate a personalized treatment plan.

Regional Landscape

North America Held the Largest Market Share 

The AI in Cancer Diagnostics Market observed a notable growth in line with the increasing inclination towards AI technology for the healthcare sector across North America during 2016-20. A majority of startup companies operating in the same market have a decent hold in the region. One of Microsoft system’s Inner eyes has displayed proven results of imaging and analyzing prostate cancer in minutes.

North America is expected to be the leading region for AI in the Cancer Diagnostics Market. According to Canadian Cancer Statistics, 43% of women and 45% of men in Canada would have cancer in their lifetime. Nevertheless, to combat this problem, the country is actively adopting AI across the healthcare industry.

Market Driver

Increasing Rate of Accuracy & Efficiency in Diagnosis to Boost the Market Growth

The primary factor driving the market is the mounting number of cancer patients. The correct classification pattern of cancer is a real-world medical problem. Cancer has become one of the prime causes of mortality across the world. Hence, research into cancer diagnosis has become a critical issue for the scientific community. 

The key problem in cancer treatment is its early detection. Often, cancer is detected in the later stages of the disease, when it has affected the function of vital organ systems and has spread in the entire body. Hence, early detection of cancer is very crucial. Using AI algorithms helps enhance diagnostic accuracy and provides quantitative metrics for better analysis.

Market Challenge

Lack of Knowledge of AI Usage in Healthcare Industry Might Hinder the Market Growth

AI in Cancer diagnostics involves dealing with large datasets and knowledge of applications & potential drawbacks of deep learning technology. Hence, lack of knowledge & training of AI systems is the biggest barrier that could hamper the market growth in the coming years. Moreover, the use of AI may also violate privacy due to the potential access to critical personal information like genomic sequences, which can further restrain the market growth.

Competitive Landscape

According to MarkNtel Advisors, the leading industry players in the Global Artificial Intelligence (AI) in Cancer Diagnostic market are Pfizer, Therapixel, Sophia Genetics, Freenome, Tempus, Janssen Pharmaceutica, Path AI, Google Deep Mind, IBM, Microsoft, Cerner Corporation, RaySearch Laboratories, Flatiron, Oncology Analytics, Inc, Oncora Medical, and Others.

Key Questions Answered in the Market Research Report:

  1. What are the overall market statistics or estimates (Market Overview, Market Size- by Value, Forecast Numbers, Market Segmentation, and Market Shares) of the Global Artificial Intelligence (AI) in Cancer Diagnostic Market?
  2. What are the region-wise industry size, growth drivers, and challenges?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Artificial Intelligence (AI) in Cancer Diagnostic Market?
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Global Artificial Intelligence (AI) in Cancer Diagnostic Market based on a competitive benchmarking matrix?
  5. What are the key results derived from the market surveys conducted during the Global Artificial Intelligence (AI) in Cancer Diagnostic Market study?   

Market Outlook, Segmentation, and Statistics 

  • Impact of COVID-19 on Global Artificial Intelligence (AI) in Cancer Diagnostic Market
  • Market Size & Analysis
    • By Revenue
  • Market Share & Analysis
    • By Application
      • Screening & Diagnosis
      • Tumor Identification
      • Treatment
      • Surveillance
    • By Cancer Type
      • Breast Cancer
      • Prostate Cancer
      • Lung Cancer
      • Colorectal Cancer
      • Cervical Cancer
      • Other (Pancreatic, Skin, Blood, etc.)
    • By End-User
      • Hospitals
      • Medical Research Institutes
      • Diagnostics Centres
      • Contract Research Organizations
    • By Region
      • North
      • Northeast
      • South
      • Southeast
      • Central west
    • By Competitors
      • Competition Characteristics
      • Market Share & Analysis
      • Competitive Metrix
  • Global Artificial Intelligence (AI) in Cancer Diagnostic Market Hotspots & Opportunities
  • Global Artificial Intelligence (AI) in Cancer Diagnostic Market Regulations & Policy
  • Key Strategic Imperatives for Success and Growth
  • Global Competition Outlook
    • Competition Matrix
    • Company Profile

Frequently Asked Questions

A. The Global Artificial Intelligence (AI) in Cancer Diagnostic Market is forecast to grow at a CAGR of 40.1% during 2021-26.

A. Pfizer, Therapixel, Sophia Genetics, Freenome, Tempus, Janssen Pharmaceutica, Path AI, Google Deep Mind, IBM, Microsoft, Cerner Corporation, RaySearch Laboratories, Flatiron, Oncology Analytics, Inc, Oncora Medical, and Others are a few of the leading players in the Global Artificial Intelligence (AI) in Cancer Diagnostic Market.

A. The ‘Screening and Detection’ segment is likely to attain the highest CAGR and maintain its significant market share during the forecast period.

A. Adoption of advanced technologies in the healthcare industry and an increasing number of cancer patients across the globe are the major factors fueling the market growth.

A. Post-COVID-19 impact, the Global Artificial Intelligence (AI) in Cancer Diagnostic Market will recover steadily owing to the increased adoption of advanced technologies in the healthcare sector to offer proper assistance to the patients.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Market Segmentation
    4. Assumptions
  2. Preface
  3. Executive Summary
  4. Impact of COVID-19 on Global Artificial Intelligence (AI) in Cancer Diagnostic Market
  5. Global Artificial Intelligence (AI) in Cancer Diagnostic Market Dynamics
    1. Growth Drivers
    2. Challenges
    3. Impact Analysis
  6. Global Artificial Intelligence (AI) in Cancer Diagnostic Market Policies and Standards
  7. Global Artificial Intelligence (AI) in Cancer Diagnostic Market Trends & Insights
  8. Global Artificial Intelligence (AI) in Cancer Diagnostic Market Hotspot & Opportunities
  9. Global Artificial Intelligence (AI) in Cancer Diagnostic Market Key Strategic Imperatives for Success & Growth
  10. Global Artificial Intelligence (AI) in Cancer Diagnostics Market Startup Ecosystem
    1. Entrepreneurial Activity
    2. Year on Year Funding Received
    3. Funding Received by Top Companies
    4. Key Investors Active in the Market
    5. Series Wise Funding Received
      1. Seed Funding
      2. Angel Investing
      3. Venture
      4. Others
  11. Global Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. By Revenues
    2. Market Share & Analysis
      1. By Application
        1. Screening & Diagnosis
        2. Tumour Identification
        3. Treatment
        4. Surveillance
      2. By Cancer Type
        1. Breast Cancer
        2. Prostate Cancer
        3. Lung Cancer
        4. Colorectal Cancer
        5. Cervical Cancer
        6. Other (Pancreatic, Skin, Blood, etc.)
      3. By End User
        1. Hospitals
        2. Medical Research Institutes
        3. Diagnostics Centres
        4. Contract Research Organizations
      4. By Region
        1. North America
        2. Latin America
        3. Europe
        4. Middle East & Africa
        5. Asia-Pacific
      5. By Company
        1. Competition Characteristics
        2. Market Share & Analysis
        3. Competitor Placement in MarkNtel Quadrant
  12. North America Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Revenues
    2. Market Share & Analysis
      1. By Application
      2. By Cancer Type
      3. By End User
      4. By Country
        1. The US
        2. Canada
    3. The US Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Application
        2. By Cancer Type
        3. By End User
    4. Canada Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Application
        2. By Cancer Type
        3. By End User
  13. Latin America Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Revenues
    2. Market Share & Analysis
      1. By Application
      2. By Cancer Type
      3. By End User
      4. By Country
        1. Brazil
        2. Mexico
        3. Others
    3. Brazil Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Cancer Type
    4. Mexico Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Cancer Type
  14. Europe Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Revenues
    2. Market Share & Analysis
      1. By Application
      2. By Cancer Type
      3. By End User
      4. By Country
        1. The UK
        2. Italy
        3. Germany
        4. France
        5. Spain
        6. Russia
    3. The UK Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Cancer Type
    4. Italy Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Cancer Type
    5. Germany Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Cancer Type
    6. France Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Cancer Type
    7. Spain Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Cancer Type
    8. Russia Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Cancer Type
  15. Middle East & Africa Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Revenues
    2. Market Share & Analysis
      1. By Application
      2. By Cancer Type
      3. By End User
    3. By Country
      1. Saudi Arabia
      2. South Africa
      3. Rest of the Middle East & Africa
    4. Saudi Arabia Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Cancer Type
    5. South Africa Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Cancer Type
  16. Asia-Pacific Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Revenues
    2. Market Share & Analysis
      1. By Application
      2. By Cancer Type
      3. By End User
    3. By Country
      1. China
      2. Japan
      3. India
      4. South Korea
      5. Australia
      6. Others
    4. China Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Cancer Type
    5. Japan Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Cancer Type
    6. India Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Application
        2. By Cancer Type
        3. By End User
    7. South Korea Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Cancer Type
    8. Australia Artificial Intelligence (AI) in Cancer Diagnostic Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Revenues
      2. Market Share & Analysis
        1. By Cancer Type
  17. Competition Outlook
    1. Competition Matrix
      1. Product/ Solution Portfolio
      2. Target Markets
      3. Target End Users
      4. Research & Development
      5. Strategic Alliances
      6. Strategic Initiatives
    2. Company Profiles of Top Companies (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Pfizer
      2. Therapixel
      3. Sophia Genetics
      4. Freenome
      5. Tempus
      6. Janssen Pharmaceutica
      7. Path AI
      8. Google Deep Mind
      9. IBM
      10. Microsoft
      11. Cerner Corporation
      12. RaySearch Laboratories
      13. Flatiron
      14. Oncology Analytics, Inc
      15. Oncora Medical
      16. Others
  18. Disclaimer
AI in Cancer Diagnostic Market Segmentation