Future Artificial Intelligence (AI) in Precision Medicine Market: Key Dynamics, Size & Share Analysis
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.
Asthma & chronic obstructive pulmonary disease (COPD) are most in the world responsible for high mortality rates. Ultimately, the need for AI in assessing the role of abnormally expressed genes & identifying potential novel targets for life-changing precision medicines has been greater than before. As a result, the Market has been experiencing positive growth trends. For instance, in 2023 COPD remained the 3rd leading cause of death worldwide as the WHO reported.
Top Market Challenges Impacting the Artificial Intelligence (AI) in Precision Medicine Market Growth
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.
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Understanding the Core Segments in the Artificial Intelligence (AI) in Precision Medicine Market
Artificial Intelligence (AI) in Precision Medicine Market Size, Share & Industry Trends Analysis- By Component (Hardware, Software, Services), By Technology (Deep Learning, Machine Learning, Querying Method, Natural Language Processing, Context-Aware Processing), By Therapeutic Application (Oncology, Neurosciences, Cardiology, Hematological Diseases, Autoimmune Diseases, Others (Respiratory, Kidney Diseases, etc.)).
Geographical Analysis of the Artificial Intelligence (AI) in Precision Medicine Market
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific.
North America expects to hold a prominent market share of Global Artificial Intelligence (AI) in Precision Medicine Market, among all regions. In the region, over the years, there have been a significant number of patients with various cancers including breast & lung.
Who Dominates the Artificial Intelligence (AI) in Precision Medicine Market Insights on Key Industry Players?
Companies are strengthening their presence in the Artificial Intelligence (AI) in Precision Medicine market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.
- Tempus
- Intel Corporation
- Zephyr AI
- IBM
- NVIDIA Corporation
- Intuz
- Google LLC
- Persistent Systems
- Owkin, Inc.
- GE Healthcare
- Insilico Medicine
- Atomwise
- BioXcel Therapeutics
- Sanofi
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