Artificial Intelligence in Oncology Market Report 2022: Spending on AI to Surpass $110 Billion by 2024

The “Artificial Intelligence in Oncology Market: Distribution by Type of Cancer, Type of End-Users and Key Geographical Regions: Industry Trends and Global Forecasts, 2022-2035” report has been added to  ResearchAndMarkets.com’s offering.

Cancer is the one of the leading cause of deaths, globally, as per the World Health Organization (WHO). Annual statistics reported by the American Cancer Society (ACR) indicate that, in 2022, around 1.9 million individuals are likely to be diagnosed with various types of cancer in the US. During the same year, around 0.6 million cancer-related deaths are anticipated to be reported in the aforementioned region. In this context, it is important to highlight that, according to the International Agency for Cancer Research, by 2030, the number of cancer-related deaths is likely to rise by 72%.

This, in turn, is expected to result in an increase of 70% in the global cancer burden, over the next two decades. Amidst the ever growing cancer burden, a number of strategies are being tested by researchers and industry players to help provide relief to the affected individuals. In recent years, artificial intelligence (AI) has emerged as a key enabler in improving the accuracy and speed of cancer diagnosis.

Specifically, AI based cancer screening has resulted in reduced mortality rates of some prevalent malignancies. One of the most successful examples includes the detection of precancerous lesions, where timely treatment was demonstrated to considerably reduce the risk of malignant tumors. Consequently, several players engaged in the healthcare sector have incorporated AI powered technologies into their regular workflow to enable the identification of affected patients, thereby, ensuring timely treatment.

Given the various advantages offered by AI technology, players engaged in the pharmaceutical domain have developed AI in oncology-based software solutions for the treatment of a myriad of oncological indications. These solutions help in interpretation and integration of huge volumes of complex data. Further, an AI system lowers the diagnostic and treatment related errors that are likely to occur in human clinical practice, thereby, resulting in reduced testing costs.

Experts believe that there has been a significant rise in the revenue generation potential within this domain. This is further supported by the significant investments being made in this market. In fact, over the past five years, close to USD 6 billion has been invested in companies engaged in the development of AI in oncology-based software solutions.

Further, the global spending on AI is forecasted to grow to more than USD 110 billion by 2024. Considering the rising popularity of such solutions in the healthcare industry and the ongoing efforts of software providers to further improve / expand their respective offerings, we believe that the AI in oncology market is likely to evolve at a steady pace, till 2030.

Key Topics Covered:

1. PREFACE

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2. EXECUTIVE SUMMARY

3. INTRODUCTION

4. MARKET OVERVIEW

5. COMPANY PROFILES

6. COMPANY COMPETITIVENESS ANALYSIS

7. PATENT ANALYSIS

8. PARTNERSHIPS

9. FUNDING AND INVESTMENT ANALYSIS

10. BLUE OCEAN STRATEGY: A STRATEGIC GUIDE FOR START-UPS TO ENTER INTO HIGHLY COMPETITIVE MARKET

11. MARKET SIZING AND OPPORTUNITY ANALYSIS

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12. CONCLUSION

13. EXECUTIVE INSIGHTS

14. APPENDIX 1: TABULATED DATA

15. APPENDIX 2: LIST OF COMPANIES AND ORGANIZATIONS

Companies Mentioned

• 6 Dimensions Capital
• 83North
• 8VC
• Affidea
• Aidence
• Aidoc
• AIRA Matrix
• Alexandria Venture Investments
• AllianceBernstein
• Ally Bridge Group
• Ambra Health
• AmCad BioMed
• aMoon Fund
• Amplify Partners
• Ankur Capital
• Apollo Hospital
• Arterys
• ARUP Laboratories
• Asset Management Ventures
• AstraZeneca
• Athensmed
• Atomico
• Accelerating Technology Purposefully
• AXA Venture Partners
• Axilor Ventures
• Baheya Foundation
• Bain Capital Life Sciences
• BankInvest
• BEENEXT
• Benslie Investment Group
• BERG
• BioAdvance
• Biotheranostics
• Blackford
• Blue Pool Capital
• Boehringer Ingelheim Venture Fund
• Borski Fund
• b-rayZ
• Breyer Capital
• BrightEdge
• Bristol-Myers Squibb
• British Business Bank
• BVF Partners
• C.L. David Foundation
• Cambridge Capital Group
• CancerCenter.ai
• Canon Medical Systems
• Capitol Health
• Casdin Capital
• Catalio Capital Management
• Charles River Ventures
• China Merchant Securities International
• Colorectal Cancer Alliance
• ConcertAI
• Connect Ventures
• Cormorant Asset Management
• Cosmo Pharmaceuticals
• Coutts
• CPP Investments
• Cornerstone Total Return Fund
• CureMatch
• CureMetrix
• D.E. Shaw Research
• D1 Capital Partners
• Dana Farber Cancer Institute
• Danhua Capital
• Data Collective Venture Capital
• Debiopharm Innovation Fund
• Declaration Partners
• Deep Bio
• DeepHealth
• DeepMind
• Delin Ventures
• Dell Technologies Capital
• Densitas
• DilenyTech
• DocPanel
• GenWorks Health
• Global Ventures
• Goldman Sachs
• Google
• GRAIL
• Greycroft
• Grove Ventures
• Guardant Health
• Guerbet
• Hanfor Capital Management
• Harmonix
• Health Innovations
• HealthCare Konnect
• HealthQuest Capital
• henQ
• Hera-MI
• HERAN Partners
• Hillhouse Capital Group
• Hina Group
• Holland Capital
• Hologic
• Korea Health Industry Development Institute
• Kinship Trust
• KT Investment
• Laerdal
• LDPath
• Legend Capital
• Leica Biosystems
• LEO Pharma
• Lightpoint Medical
• Liverpool Heart and Chest Hospital
• Lucida Medical
• Luminous Ventures
• LungLife AI
• Lunit
• M Capital
• Mamotest
• Marubeni Corporation
• MassMutual Ventures
• Maverick Ventures
• Median Technologies
• Medical EarlySign
• Medicover
• MediPath
• Medtronic
• Memorial Sloan Kettering Cancer Center
• Merck
• Polaris Partners
• Prodeko Ventures
• Prognica Labs
• Proscia
• PSP Investments
• Qingsong Fund
• Qlarity Imaging
• Quantib