Insightace Analytic PVT. Ltd. Announces the release of a market assessment report on “World AI on the oncology market – (type of cancer (solid malignant tumors, breast cancer, lung cancer, prostate cancer, colorectal cancer , brain tumor, others), by the end user (hospitals, pharmaceutical companies, research institutes, others)), by region, trends, industry competition analysis, income and forecasts to in 2031. “
According to the latest research by Insightace Analytic, the world AI on the oncology market is estimated at 1.2 billion US dollars in 2023, and it is expected to reach $ 4.5 billion by 2031, with a TCAC of 18 , 8% during the 2024 -2031 forecast period.
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The use of advanced algorithms and automatic learning techniques, artificial intelligence (AI) in oncology raises diagnosis, treatment and care for patients. By analyzing vast sets of medical data, AI discerns nuanced models to offer tailor -made processing suggestions, thus optimizing the results of patients. Tools such as automatic learning algorithms, in -depth learning techniques, NLP, computer vision and genomic analysis contribute to this complete approach, improving the accuracy of the diagnosis and the results of the treatment while optimizing the effectiveness of health care.
The importance of AI in oncology comes from its various capacities. By improving the accuracy of the diagnosis by recognizing models and the recommendations for processing models to individual patient data, AI improves patient results. In addition, AI allows proactive interventions by identifying the health risks of patient data, improving the overall patient care. In addition, AI rationalizes health processes, reducing costs and serving as a transformative influence in wider oncology and health contexts.
List of eminent AI players on the oncology market:
• Berg
• Cancercentre.ai
• AI concert
• Ge Healthcare
• IBM Watson Health
• Icad
• JLK inspection
• Median technologies
• AI path
• Roche Diagnostics
Market dynamics:
Drivers:
The growing incidence of various cancers in the world, such as lungs, breast, prostate, colorectal cancer and brain tumors, serves as an important engine for the AI on the oncology market. With the statistics provided by the American Cancer Society in 2024, including around 234,580 new cases of lung cancer and 125,070 deaths in the United States only, this trend is underlined. In addition, the revelation of the World Health Organization of nearly 20 million new cases of cancer reported each year worldwide highlights the urgent need for advanced oncology solutions. Take advantage of AI algorithms for precision medicine approaches, by analyzing genomic data and complex patients, in parallel with the progress of medical imaging and data analysis, is crucial to improve the diagnosis of cancer, Treatment planning and overall patient care.
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Challenges:
The integration of artificial intelligence (AI) in oncology is confronted with several challenges which hinder their adoption and its generalized effectiveness in the clinical environment. The difficulty in obtaining sets of high-quality and high-quality multi-institutional data and the lack of standardization in data collection in electronic health files (DSE) inhibit the development and use of AI models. In addition, inconsistent or poor quality imaging data can cause erroneous diagnostics and processing plans, which hinders patient results. The tumor segmentation and annotation processes with a high intensity of labor further limit the adoption of AI solutions. In addition, the lack of standardization and interoperability between health systems poses obstacles to the translation of AI in real clinical contexts. In addition, the multidisciplinary nature of the implementation of AI, requiring collaboration between oncologists, radiologists and data scientists, presents challenges.
Regional trends:
North America appears as a leading region in the progress of AI technologies within oncology, drawn by several key factors. With 2,001,140 new cases of projected cancer and 611 720 cancer death in 2024 in the United States only, North America benefits from advanced health infrastructure, with advanced medical imaging technologies and files robust electronic health. In addition, the region’s significant investment in research and development, facilitated by numerous research and universities institutions, feeds innovation in AI algorithms and technologies adapted to oncology. In addition, the large population of patients in North America affected by fuel from cancer of the demand for advanced diagnostic and treatment solutions, encountered by the adoption of AI technologies. Supported by a solid regulatory framework, including favorable reimbursement policies, North America opens the way to a generalized adoption and integration of AI in oncology, ultimately improving the results of patients and reducing the costs of care health.
Recent developments:
• In May 2024, Concertai launched Cara Ai, its predictive and generative advanced suite of AI, during the ASCO 2024 annual meeting, offering multimodal data management and promoting collaborative research efforts through translation clinical development stages. In addition, Concertai has introduced an update of its quality management platform of Smartlinq, Trialinq oncology.
• In May 2024, Ge Healthcare presented Revolution RT, his new improved oncology solution in AI, marking a “new era” in computed tomography (CT) of radiotherapy. Revolution RT offers innovative hardware and software to improve imaging precision and rationalize simulation work flows, aimed at personalizing and simplifying the oncology care for clinicians and patients. Technology made its debut to the European Society of Therapeutic Radiology and Oncology 2024 Congress in Glasgow, Scotland.
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AI segmentation on the oncology market
By type of cancer
• Solid spokes
• Breast cancer
• Lung cancer
• Prostate cancer
• Colorectal cancer
• Brain tumor
• Others
By the end user
• Hospitals
• Pharmaceutical companies
• Research institutes
• Others
By region-
North America-
• The United States
• Canada
• Mexico
Europe-
• Germany
• The United Kingdom
• France
• Italy
• Spain
• rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• rest of Asia-Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East and Africa
• CCG countries
• South Africa
• rest of the Middle East and Africa
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