AI in Oncology Market to Reach USD 9.1 Billion by 2035, with a Higher CAGR of 14.1%

Strategic Insights -

The AI in oncology market is expected to experience a significant growth, estimated to reach USD 9.1 billion by 2035, as per a report by Research and Markets. The market is expected to grow from USD 2.4 billion in 2025, driven by the increasing demand for advanced cancer diagnostic and treatment methods due to the rising cancer incidence globally. The report highlights that the use of AI technology in oncology has enormous potential to generate revenue in the future, driven by its ability to detect cancer at an early stage and develop personalized therapies.

Key Takeaways:

  • The AI in oncology market is expected to grow from USD 2.4 billion in 2025 to USD 9.1 billion by 2035, representing a higher CAGR of 14.1% during the forecast period.
  • Over 70 players are engaged in the development of AI-based software solutions for the oncology sector, with more than 50% of them using machine learning-powered solutions for diagnostic purposes in hospitals.
  • Geographically, the software providers are well distributed, with the market expected to witness a healthy growth of 14.1% in the coming decade.
  • The solid malignancies segment is expected to capture the majority of the market share, followed by the hospital segment in terms of type of cancer and type of end-user, respectively.
  • The Asia-Pacific region is expected to grow at a relatively high CAGR (14.7%) during the forecast period, driven by the increase in the number of cancer cases in the region.
  • The report highlights the key companies in the AI in oncology market, including Berg, CancerCenter.AI, Concert AI, GE Healthcare, IBM Watson Health, Path AI, Roche Diagnostics, and others.

Statistics:

  • The AI in oncology market is estimated to reach USD 9.1 billion by 2035, growing at a CAGR of 14.1% during the forecast period.
  • Over 70 players are engaged in the development of AI-based software solutions for the oncology sector.
  • More than 50% of the players use machine learning-powered solutions for diagnostic purposes in hospitals.
  • The solid malignancies segment is expected to capture 33% of the market share in 2025.
  • The hospital segment is expected to hold 24% of the market share in 2025.
  • The Asia-Pacific region is expected to grow at a CAGR of 14.7% during the forecast period.
  • Over USD 6 billion in funding has been made by public and private investors in the AI in oncology market.
  • More than 2,770 patents have been granted/filled by academic and industry stakeholders in the last five years for the development of AI-based software solutions for oncology.

Sources:

  • Research and Markets
  • International Agency for Cancer Research
  • AI in Oncology Market: Key Insights
  • Artificial Intelligence in Oncology Market: Research Coverage
  • AI in Oncology Market: Key Segments
  • Company Profiles: Berg, CancerCenter.AI, Concert AI, GE Healthcare, IBM Watson Health, Path AI, Roche Diagnostics, and others
  • Company Competitiveness Analysis
  • Patent Analysis
  • Partnerships and Analysis
  • Funding and Investment Analysis
  • Blue Ocean Strategy: A Strategic Guide for Start-Ups to Enter into Highly Competitive Market
  • Market Sizing and Opportunity Analysis