Artificial Intelligence (AI) in Cancer Diagnostics - Market Insights, Competitive Landscape, and Market Forecast - 2032

Artificial Intelligence (AI) in Cancer Diagnostics Market by Component (Software and Services), Cancer Type (Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Brain & Nervous System Cancers, and Others), End-User (Hospitals, Diagnostic Centre, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) is expected to grow at a steady CAGR forecast till 2032 owing to the rising cancer incidence rates, increase integration of AI with medical imaging for cancer diagnostics, increase in strategic activities among the key market players across the globe.

The artificial intelligence in cancer diagnostics market was valued at USD 1,049.18 million in 2024, growing at a CAGR of 11.16% during the forecast period from 2025 to 2032 to reach USD 2,434.32 million by 2032. The rising incidence of cancer is fueling the demand for advanced diagnostic solutions, positioning Artificial Intelligence (AI) as a vital tool for early detection and precision oncology. The growing integration of AI with medical imaging modalities such as CT scans, MRIs, mammograms, and pathology slides significantly improves diagnostic accuracy, minimizes human error, and accelerates cancer detection, ultimately enhancing patient outcomes.

Major market players are intensifying their efforts through strategic initiatives, including product launches, mergers, acquisitions, and collaborations, to strengthen their AI-driven cancer diagnostic portfolios and expand their technological capabilities. These combined factors are poised to drive substantial growth in the global AI in the cancer diagnostics market, enhancing accessibility, efficiency, and reliability in cancer detection and revolutionizing oncology care throughout the forecast period from 2025 to 2032.

Artificial Intelligence (AI) in Cancer Diagnostics Market Dynamics:

According to the latest data from the International Agency for Research on Cancer (IARC, 2024), the estimated number of new cancer cases worldwide was 20 million in 2022, with projections indicating a rise to 32.6 million by 2045. Breast cancer accounted for approximately 2.3 million new cases globally in 2022, a figure expected to increase to 3.36 million by 2045.

This growing global cancer burden is driving demand for advanced diagnostic solutions, with Artificial Intelligence (AI) playing a pivotal role in early and accurate detection crucial for improving treatment outcomes. Traditional diagnostic methods, such as biopsies and manual interpretation of imaging, are often time-consuming and prone to human error. In contrast, AI-powered solutions enhance diagnostic precision, automate detection, and accelerate diagnosis by analyzing vast datasets from medical imaging modalities, including MRIs, CT scans, and histopathology slides. AI further integrates with genomic and patient data, supporting oncologists in devising personalized treatment plans.

The integration of AI with medical imaging is revolutionizing cancer diagnostics by improving accuracy, efficiency, and early detection. AI-driven imaging solutions, leveraging deep learning algorithms and computer vision, can identify patterns and anomalies that might be overlooked by human observers. These technologies enhance image segmentation, lesion detection, and tumor classification, allowing for earlier and more precise diagnoses. Advanced AI models can differentiate between benign and malignant tumors with higher sensitivity and specificity, reducing false positives and minimizing unnecessary biopsies. Additionally, AI-powered tools assist in monitoring tumor progression, evaluating treatment responses, and predicting disease recurrence, enabling oncologists to make well-informed decisions regarding individualized care.

Strategic initiatives by key market players are further propelling the growth of the AI in cancer diagnostics market. For example, in September 2024, Roche expanded its digital pathology platform by integrating over 20 advanced AI algorithms from eight new collaborators. This move facilitated through Roche's navify(R) Digital Pathology enterprise software, aims to enhance cancer research and diagnostic capabilities by providing pathologists with seamless access to cutting-edge AI innovations.

Despite these advancements, certain challenges persist. Limited data availability and quality pose significant hurdles, as AI models require large, diverse, and high-quality datasets for optimal performance. Inconsistencies, biases, and restricted access to comprehensive patient data can undermine model accuracy and reliability. Furthermore, stringent regulatory requirements and ethical considerations may slow market growth.

Overall, the combination of rising cancer prevalence, technological innovations, and strategic industry activities is expected to drive significant growth in the global AI in cancer diagnostics market during the forecast period from 2025 to 2032.

Artificial Intelligence (AI) in Cancer Diagnostics Market Segment Analysis:

Artificial Intelligence in Cancer Diagnostics Market by Component (Software and Services), Cancer Type (Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Brain & Nervous System Cancers, and Others), End-User (Hospitals, Diagnostic Centre, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the component segment of the artificial intelligence (AI) in cancer diagnostics market, the software category is expected to hold a significant share in 2024. This category serves as a key growth driver, revolutionizing how cancer is detected, analyzed, and managed. AI-powered software solutions are enhancing diagnostic accuracy, improving workflow efficiency, and reducing the workload on healthcare professionals. By leveraging deep learning and machine learning algorithms, these platforms analyze vast amounts of medical imaging data including MRIs, CT scans, and histopathology slides facilitating faster and more precise detection of cancerous lesions. In addition to early abnormality detection, AI software reduces false positives and negatives, thereby increasing diagnostic confidence.

AI-driven software also integrates with electronic health records (EHRs) and genomic data, supporting personalized cancer diagnostics and treatment recommendations tailored to patients' genetic and clinical profiles. The rise of cloud-based AI solutions further enhances accessibility by enabling remote diagnostics and seamless collaboration among oncologists, radiologists, and pathologists across various healthcare institutions.

Continuous advancements in AI algorithms, along with growing regulatory approvals for AI-based diagnostic software, are accelerating market adoption. Leading technology companies and healthcare providers are investing heavily in AI-driven software through strategic partnerships, acquisitions, and new product launches to strengthen their market presence. For example, in October 2024, Owkin the first end-to-end AI-biotech company utilizing advanced causal AI for precision drug discovery, development, and diagnostics launched MSIntuit(R) CRC v2, a next-generation AI software solution aimed at transforming colorectal cancer (CRC) detection and treatment. Initially introduced as a Research Use Only (RUO) product in the U.S., this solution was integrated into Roche's navify(R) Digital Pathology enterprise software to enhance diagnostic capabilities.

These technological advancements, combined with increasing investments and supportive regulatory environments, are expected to propel the software segment's growth, thereby boosting the overall global AI in cancer diagnostics market during the forecast period.

North America is expected to dominate the overall artificial intelligence in cancer diagnostics market:

North America is projected to hold the largest share of Artificial Intelligence (AI) in the Cancer Diagnostics market in 2024. This dominance is attributed to the region's high cancer prevalence, growing demand for advanced diagnostic solutions, strong government support, and substantial investments in AI-driven healthcare technologies. The presence of major AI developers and leading medical imaging companies further fuels market growth. The integration of AI with electronic health records (EHRs), precision medicine, and digital pathology is enhancing the efficiency and accuracy of cancer detection and diagnosis across the region.

According to recent data from the International Agency for Research on Cancer (IARC, 2024), North America recorded an estimated 2.67 million new cancer cases in 2022, with projections rising to 3.83 million by 2045. Breast cancer, a significant contributor to the cancer burden, accounted for approximately 306,000 new cases in 2022, with an expected increase to 384,000 cases by 2045. AI-powered diagnostic solutions are playing a crucial role in breast cancer detection by analyzing mammograms, ultrasounds, and MRI scans with remarkable precision. These technologies significantly reduce false positives and negatives, thereby improving diagnostic confidence. Machine learning algorithms are capable of detecting subtle imaging patterns that may elude human radiologists, leading to earlier and more accurate diagnoses. Furthermore, AI enhances risk assessment, tumor classification, and personalized treatment planning by integrating imaging data with genomic and clinical information.

The North American market is further bolstered by increasing strategic activities among key industry players, including mergers, acquisitions, regulatory approvals, and new product launches. These initiatives accelerate technological advancements, expand product portfolios, and strengthen market presence, enabling the introduction of innovative AI-driven solutions for cancer detection and treatment. For example, in October 2023, Philips partnered with Quibim, a specialist in imaging biomarkers, to launch AI-powered imaging and reporting solutions for Magnetic Resonance (MR) prostate screenings. Such collaborations are instrumental in advancing diagnostic capabilities and meeting the region's growing healthcare demands.

Overall, the combination of rising cancer incidence, technological innovation, supportive regulatory frameworks, and strategic industry initiatives is expected to propel the AI in cancer diagnostics market in North America during the forecast period from 2025 to 2032.

Artificial Intelligence in Cancer Diagnostics Market Key Players:

Some of the key market players operating in the artificial intelligence in cancer diagnostics market include iCAD, Inc., ibex-ai, Roche Diagnostics, Kheiron Medical Technologies Limited, MVision AI Inc., Siemens Healthineers AG, GE HealthCare, NVIDIA Corporation, Digital Diagnostics Inc., IBM Corporation, Azra AI, ConcertAI, PathAI, Median Technologies, Paige AI Inc., Therapixel, Flatiron, Freenome Holdings Inc., Onc.AI, Sonrai Analytics, and others.

Recent Developmental Activities in the Artificial Intelligence in Cancer Diagnostics Market:

• In August 2023, MVision AI announced the release of version 1.2.4 of its guideline-based automatic segmentation service. This latest software update introduces new contouring models and advanced Region-Of-Interest (ROI) operations, aiming to enhance the accuracy and efficiency of cancer radiotherapy planning. The improved contouring capabilities are designed to standardize treatment protocols and significantly reduce the time to treatment, ultimately improving patient care and streamlining clinical workflows in oncology.
• In January 2023, Paige AI Inc. announced a collaboration with Microsoft to leverage artificial intelligence (AI) in analyzing digital pathology images. The partnership aims to develop and deliver a new generation of clinical applications and computational biomarkers to transform cancer diagnosis and enhance patient care. As part of this collaboration, Microsoft made a strategic investment in Paige to accelerate the development and deployment of life-saving AI-powered diagnostic solutions, further advancing innovation in oncology.

Key Takeaways From the Artificial Intelligence in Cancer Diagnostics Market Report Study

• Market size analysis for current artificial intelligence in cancer diagnostics size (2024), and market forecast for 8 years (2025 to 2032)
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years.
• Key companies dominating the artificial intelligence in the cancer diagnostics market.
• Various opportunities available for the other competitors in the artificial intelligence in cancer diagnostics market space.
• What are the top-performing segments in 2024? How these segments will perform in 2032?
• Which are the top-performing regions and countries in the current artificial intelligence in cancer diagnostics market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for artificial intelligence in cancer diagnostics market growth in the coming future?

Target Audience Who Can Benefited From This Artificial Intelligence in Cancer Diagnostics Market Report Study

• Artificial intelligence in cancer diagnostics product providers
• Research organizations and consulting companies
• Artificial intelligence in cancer diagnostics -related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and traders dealing in artificial intelligence in cancer diagnostics
• Various end-users who want to know more about artificial intelligence in the cancer diagnostics market and the latest technological developments in artificial intelligence the cancer diagnostics market.

Frequently Asked Questions for the Artificial Intelligence in Cancer Diagnostics Market:

1. What is artificial intelligence in cancer diagnostics?

• Artificial Intelligence (AI) in cancer diagnostics refers to the use of advanced machine learning algorithms and deep learning models to analyze medical data, such as imaging, pathology slides, and genomic information, for early detection, accurate diagnosis, and treatment planning of cancer. It enhances efficiency, reduces human error, and enables personalized medicine to improve patient outcomes.

2. What is the market for artificial intelligence in cancer diagnostics?

• The artificial intelligence in cancer diagnostics market was valued at USD 1,049.18 million in 2024, growing at a CAGR of 11.16% during the forecast period from 2025 to 2032 to reach USD 2,434.32 million by 2032.

3. What are the drivers for the global artificial intelligence in cancer diagnostics market?

• The rising cancer incidence rates are driving the demand for advanced diagnostic solutions, making Artificial Intelligence (AI) a crucial tool in early detection and precision oncology. The increasing integration of AI with medical imaging, including CT scans, MRIs, mammograms, and pathology slides, enhances diagnostic accuracy, reduces human error, and speeds up cancer detection, improving patient outcomes. Additionally, key market players are actively engaging in strategic activities such as product launches, mergers, acquisitions, and collaborations to enhance AI-driven cancer diagnostic solutions, expanding their market reach and technological capabilities. These combined factors are expected to significantly propel the global AI in the cancer diagnostics market by increasing accessibility, efficiency, and reliability in cancer detection, ultimately transforming oncology care during the forecast period from 2025 to 2032.

4. Who are the key players operating in the global artificial intelligence in cancer diagnostics market?

• Some of the key market players operating in the artificial intelligence in cancer diagnostics are iCAD, Inc., ibex-ai, Roche Diagnostics, Kheiron Medical Technologies Limited, MVision AI Inc., Siemens Healthineers AG, GE HealthCare, NVIDIA Corporation, Digital Diagnostics Inc., IBM Corporation, Azra AI, ConcertAI, PathAI, Median Technologies, Paige AI Inc., Therapixel, Flatiron, Freenome Holdings Inc., Onc.AI, Sonrai Analytics, and others.

5. Which region has the highest share in global artificial intelligence in cancer diagnostics market?

• North America is expected to account for the highest proportion of artificial intelligence in cancer diagnostics market in 2024, out of all regions. The region has a high prevalence of cancer, driving the demand for advanced diagnostic solutions. Additionally, strong government support, substantial investments in AI-driven healthcare technologies, and the presence of major AI and medical imaging companies contribute to market growth. The integration of AI with electronic health records (EHRs), precision medicine, and digital pathology further enhances cancer detection and diagnosis. Moreover, increasing collaborations between AI developers and healthcare institutions, along with favorable regulatory policies, are accelerating AI adoption, solidifying North America's leadership in the market.