AI Cancer Treatment: Current Scenario And Future Potential

In the last decade, the popularity of AI has grown invariably. Specifically, it has made a considerable impact in the medical sector and oncologic treatment as well, due to a surge in electronic data, breakthroughs in technological infrastructure and groundbreaking research in deep learning neural networks. AI cancer treatment has demonstrated potential in improving liquid biopsy results and therapy response evaluation, anticipating clinical outcomes, and accelerating drug development and translational oncology.
AI has the potential to revolutionize the cancer treatment sector, by overcoming the existing challenges, by leveraging the power of big data to further improve the cancer treatment. Although there are several solutions offered by stakeholders for application of artificial intelligence in clinical trials, ongoing and increased efforts are required to allow AI to reach its full potential.

AI Cancer Treatment Market – Current Market Landscape

Currently, over 76 industry players worldwide are actively engaged in the development of AI cancer treatment solutions. The market is characterized by a mix of well-established and small firms.

AI in Oncology Market – Current Market Landscape

Several industry players involved in the development of AI cancer treatment – based software solutions are majorly providing these services for cancer diagnosis, along with drug development and drug discovery. Majority of the software providers have their platforms on cloud, for end users which include, hospitals, pharmaceutical companies and research institutes.

AI in Oncology- Based Software Solutions

The growing pipeline and the increasing demand for effective diagnosis of cancer indications at an early stage using AI to prevent malignancies, has spurred the establishment of many companies in the last decades; currently, AI cancer treament market is dominated by companies based in North America, majority of them being small-sized.

AI Cancer Treatment Partnerships in Order to Expand Capacities to Keep Pace with the Growing Demand

AI in Oncology- Based Software Solutions in the Past 5 Years

Several partnerships have been established by various stakeholders engaged in the development of AI cancer treatment – based software solutions in the past 5 years; there has been a significant increase in partnership activity in this domain, growing at a CAGR of 36%, during the period 2017-2022.

Surge in Funding Activity in the AI Cancer Treatment Market Foreseeing Lucrative Returns

Surge in Funding Activity in this Domain Foreseeing Lucrative Returns

There has been a steady increase in the funding activity within this domain during the period 2017-2022 which amounted to more than USD 5.9 billion.

High Number of Patents are Suggestive of the Widespread Research in this Domain

High Number of Patents are Suggestive of the Widespread Research in this Domain

Several industry and non-industry players are involved in the development of Artificial Intelligence in Oncology- based software solutions. Over 2,770 patents have been granted / filed by academic and industry stakeholders till date.

Future Evolution of AI in Oncology Market

Future Evolution of AI in Oncology Market

Owing to the anticipated AI in the oncology sector and given the fact that several new players have entered the domain in the last decade, who are actively collaborating with other industry / non-industry players to expand the global reach of this domain the market opportunity associated with AI in oncology market is anticipated to grow at a CAGR of 54%.

You can also download the SAMPLE REPORT on AI in oncology by Roots Analysis.