Artificial Intelligence (AI) in Precision Medicine Market is Projected to Witness a Growth Rate of around 27%, Rising fr

How Big is the Artificial Intelligence (AI) in Precision Medicine Market?

The Global Artificial Intelligence (AI) in Precision Medicine Market size was valued at USD 1.7 billion in 2023 and is projected to reach USD 14.5 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 27% during the forecast period, i.e., 2024-30.

Market Statistics

Market Size in 2023: USD 1.7 billion
Market Size By 2030: USD 14.5 billion
Market Growth Rate (CAGR): 27% from 2024-2030

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Artificial Intelligence (AI) in Precision Medicine Market Insight:

Driver-

High Rates of Different Cancers to Impact the Market Positively – Throughout the world, there have been high rates of various cancers including breast & stomach. However, the currently available treatments like chemotherapy, radiation therapy, and others have not been very effective for every patient while some had negative consequences on the health of patients. There has been continuous research & development for therapies specifically tailored according to patient’s characteristics, and prove to be more effective compared to conventional treatments with minimal cost and no side effects.

Subsequently, Artificial intelligence (AI) in precision medicine has accelerated the analysis of vast amounts of genomic or proteomic data rapidly, identifying disease targets, and rapid discovery and development of drugs thereby expanding the market size for AI in Precision Medicine. For instance,

The World Health Organization (WHO) reported about 20 million new cases of cancer globally in 2022 and also expects that the cases will eventually increase to around 32.6 million by 2045.

Artificial Intelligence (AI) in Precision Medicine Market Segmentation:

The report has segmented the market into the following categories:

By Component

Hardware- Market Size & Forecast 2019-2030, USD Million
Software- Market Size & Forecast 2019-2030, USD Million
Services- Market Size & Forecast 2019-2030, USD Million

By Technology

Deep Learning- Market Size & Forecast 2019-2030, USD Million
Machine Learning- Market Size & Forecast 2019-2030, USD Million
Querying Method- Market Size & Forecast 2019-2030, USD Million
Natural Language Processing- Market Size & Forecast 2019-2030, USD Million
Context-Aware Processing- Market Size & Forecast 2019-2030, USD Million

By Therapeutic Application

Oncology- Market Size & Forecast 2019-2030, USD Million
Neurosciences- Market Size & Forecast 2019-2030, USD Million
Cardiology- Market Size & Forecast 2019-2030, USD Million
Hematological Diseases- Market Size & Forecast 2019-2030, USD Million
Autoimmune Diseases- Market Size & Forecast 2019-2030, USD Million
Others (Respiratory, Kidney Diseases, etc.)- Market Size & Forecast 2019-2030, USD Million

By Region

North America
South America
Europe
The Middle East & Africa
Asia-Pacific

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Competitive Landscape:

Tempus
Intel Corporation
Zephyr AI
IBM
NVIDIA Corporation
Intuz
Google LLC
Persistent Systems
Owkin, Inc.
GE Healthcare
Insilico Medicine
Atomwise
BioXcel Therapeutics
Sanofi

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

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Other Report:

Key Highlights of the Report:

Market Performance (2024-2030)
Strategic Recommendations
Current, Historical and Future Market Trends
Market Drivers and Leading Competitor
SWOT Analysis
Structure of the Market
Comprehensive Mapping and Recent Advancement

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