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The AI in oncology market is estimated to grow from USD 1.7 billion in 2024 to reach USD 2.4 billion in 2025 and USD 9.1 billion by 2035, representing a higher CAGR of 14.1% during the forecast period.
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Given the increasing risk of cancer across the globe, there has been a surge in the requirement of advanced cancer diagnostic and treatment modalities to treat patients. It is a well-known fact that cancer is the most prevalent reason of death worldwide. Further, more than 35 million new cancer cases are likely to be diagnosed by 2050. According to the International Agency for Cancer Researchers, the number of cancer-associated deaths is likely to increase by 72%, by 2030.
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In this context, clinicians, researchers and industrial stakeholders have undertaken several initiatives, to provide some relief from rising cases of cancer. One of the significant strategies adopted in the oncology field is the early detection of cancer. The emergence of artificial intelligence in the field of oncology has proven to be a promising approach for cancer diagnosis at an early stage thereby, aiding effective cancer therapeutics.
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One of the most successful examples is 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, ultimately contributing to an overall growth of this market.
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| Key Report Attributes | Details | |
| Historical Trend | Since 2019 | |
| Forecast Period | Till 2035 | |
| Market Size 2025 | $ 2.4 Billion | |
| Market Size 2035 | $ 9.1 Billion | |
| CAGR (Till 2035) | 14.1% | |
The AI in oncology market analysis also features the likely distribution of the current and forecasted opportunity within the AI in oncology domain across various segments, such as type of cancer, type of end user and geographical regions.
We have created three market forecast scenarios, conservative, base and optimistic, to account for future uncertainties in key parameters and enhance the robustness of our model. These scenarios represent different tracks of the industry's evolution.
Early detection of diseases has demonstrated to significantly improve treatment outcomes and survival rates. The overall success of cancer therapies is heavily reliant on the accurate identification of malignancies and their unique features, allowing healthcare providers to customize treatment plans for each patient effectively.
Several recent developments in the field of AI in oncology have occurred, and we outline some of these below. These developments, even if they arose after our market report’s release, support the overall AI in oncology market trends detailed in our analysis.
The market research report presents an in-depth analysis of the various AI in oncology companies, across different segments, as defined in the table below:
| Market Segmentations | Details | |
| Type of Cancer |
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| Type of End User |
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| Geographical Regions |
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AI has been immensely utilized for data collection, evaluation, and real-time interpretation in the pharmaceutical industry. In fact, the integration of AI-based software solutions enables clinicians to detect cancer at an early stage and develop personalized therapies to treat a wide range of oncological indications. Additionally, AI-powered technology in oncology significantly reduces the cost of cancer testing and treatment. Driven by the significance offered by AI technology, experts believe that the use of AI in oncology market has enormous potential to generate revenue in the future.
Discussions with multiple stakeholders in this domain influenced the opinions and insights presented in this study. The market report includes detailed transcripts of interviews conducted with the following individuals:
AI in oncology domain will mark a turning point in 2025. Douglas Flora, (President, Association of Cancer Care Centers), states, “For me, in 2025, the role of AI in oncology is pattern recognition and addressing some of the rote, mechanical tasks that eat up our days, I’m looking forward to future years, where AI might help us with making better decisions as well.”
| Report Deliverables | Details | |
| Analytical Insights Covered |
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| Strategic Insights Covered | Executive Infographic Summary | |
| Key AI in Oncology Companies Profiled |
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| PowerPoint Presentation (Complimentary) |
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| Customization Scope | 15% Free Customization | |
The “AI in Oncology Market: Industry Trends and Global Forecasts, till 2035” market report features an extensive study of the current market landscape, company competitiveness analysis, patent analysis, partnerships and collaborations, funding and investments, blue ocean strategy and market size and future opportunities within the AI in oncology market, during the forecast period.
The current market landscape features the presence of over 75 players offering AI in oncology software solutions; of these, 39% established their operations between 2011-2015. Notable examples include (in alphabetical order) b-rayZ, ConcertAI.
Notably, most of the service providers are based in North America (41%), followed by Europe. Further, within Europe, the UK emerged as the prominent base of operations for the players. It is worth mentioning that all the companies engaged in this domain offer AI in oncology-based software solutions to hospitals (52%), followed by those (17%) providing such software solutions to non-industry players (such as research institutes).
The global AI in oncology market size is likely to be worth $ 2.4 billion in 2025 and will reach $ 9.1 billion by 2035. In terms of the type of cancer, solid malignancies segment holds the largest share of the AI in oncology market.
The increasing prevalence of cancer across the globe and the quest for more innovative AI-powered solutions for early diagnosis have underscored the significance of AI in oncology. Furthermore, the growing usage of AI technology in oncology and molecular biology to tailor therapies is likely to drive the market during the forecast period.
Europe is likely to dominate the global AI in oncology market in 2035, capturing more than 30% of the overall revenue share.
This is a result of rising healthcare costs, and a surge in cancer cases, thereby pushing European healthcare systems to rapid adoption of artificial intelligence in oncology precision medicine.
The market in Asia-Pacific is likely to grow at a relatively high CAGR (14.7%), during the forecast period till 2035. This is a result of several factors, including the increase in the number of cancer cases in the region, driving demand for advanced diagnostic and treatment solutions.
Several factors are propelling AI in the oncology market during the forecast period. Some potential drivers include the growing prevalence of advanced technologies for early cancer detection and the development of personalized medicines.
Further, the increasing popularity of AI-powered solutions in pharmaceutical drug discovery and disease diagnosis has led to a surge in the requirement for software solutions, driving growth in the oncology field. It is worth highlighting that global spending on artificial intelligence has surpassed USD 110 billion in 2024.
AI in oncology service providers have forged several partnerships with other stakeholders to enhance their service portfolios. Notably, technology integration agreement (30%) emerged as the most popular type of partnership model among players engaged in this domain, followed by technology utilization agreements (18%). In addition to this most of the deals (19%) signed within this domain were instances wherein both the developer and partner were based in Europe.
Further, in terms of intercontinental agreements, most of the deals were instances wherein industry players based in Asia-Pacific entered into a partnership with companies headquartered in Europe (15%).
The overall trend of investment in this domain has been very promising with significant capital raised across venture capital rounds (70%). Some of the companies that reported big-ticket investments through venture capital include (in decreasing order of amount raised), Freenome (USD 300 Million), Lunit (USD 61 Million). In addition to this, Casdin Capital, Baillie Gifford, Google Ventures emerged as the most active investors (in terms of their participation in funding instances) in the AI in oncology domain.
Artificial intelligence is transforming oncology by enhancing cancer detection, diagnosis, and treatment through advanced data analysis and pattern recognition. Further, AI-powered tools can analyze medical images, classify tumors, predict treatment responses, and help personalize therapies for individual patients. These technologies have not only improved diagnostic accuracy and efficiency but also accelerated drug discovery to precision medicine in cancer care.
Lead Author: Muskan Arora
Lead Reviewer: Dhriti Gulati
Chief Editor: Prachi Bhalla