PUBLISHER: Grand View Research | PRODUCT CODE: 1701260
PUBLISHER: Grand View Research | PRODUCT CODE: 1701260
The global AI in cancer diagnostics market size is estimated to reach USD 996.12 million by 2030, registering to grow at a CAGR of 24.12% from 2025 to 2030 according to a new report by Grand View Research, Inc. The increasing need for lowering healthcare costs, the rising importance of big data in healthcare, improving adoption of precision medicine, and declining hardware costs are key factors driving the growth.
The increasing scope of applications of artificial intelligence (AI) in various healthcare fields, including diagnostics; the rising prevalence of cancer; and the growing shortage of public health workforce are some of the key factors anticipated to fuel the adoption of artificial intelligence (AI) in cancer diagnostics over the forecast period. In addition, the increasing applicability of AI-based tools in cancer care and the rise in venture capital investments is further driving the surge in demand for this technology.
The presence of prominent players in the market such as Microsoft, Flatiron, Therapixel, and Tempus, is anticipated to positively impact the growth. These players are adopting strategies such as acquisitions, collaborations, expansions, and new product launches to increase the reach of their products in the industry and increase the availability of their products & services in diverse geographical areas. For instance, in December 2021, Microsoft announced a partnership with CVS Health to develop innovative solutions for patients to improve their health while empowering healthcare professionals with tools to better service patients.
Furthermore, the rising government support in the form of funding and initiatives for the development of healthcare infrastructure is anticipated to drive the demand for technologically advanced and cost-efficient devices over the forecast period.