The global AI in oncology market was valued at USD 6.00 billion in 2025 and is projected to reach USD 38.91 billion by 2033, growing at a robust CAGR of 24.77% from 2026 to 2033. This growth is driven by factors such as the rising prevalence of cancer, technological advancements in cancer diagnostics and healthcare infrastructure, and the increasing demand for early cancer detection and classification.
Additionally, the growing adoption of precision medicine is further accelerating market growth. The global increase in cancer diagnoses is leading to a higher reliance on AI technologies in oncology. According to the NIH estimates for 2023, around 2.0 million individuals in the U.S. are diagnosed with cancer each year. Breast cancer remains the most commonly diagnosed cancer, with an estimated 297,790 cases in women and 2,800 in men. Prostate cancer is the second most frequently diagnosed cancer, with an estimated 288,300 cases. Lung and bronchus cancer ranks third in terms of new diagnoses.
Ongoing investments from both public and private organizations into research and development (R&D) for innovative technologies are expected to continue fueling the market. For example, in October 2022, Tempus, a leader in precision medicine and AI, launched the Tempus+ program, a proprietary initiative leveraging real-world data for collaborative precision oncology research. This program is being used by several renowned research institutions, including Baylor College of Medicine and Stanford Cancer Center, to advance cancer research. Additionally, the growing approval of AI-powered medical devices is set to further bolster market growth. For example, in January 2024, the U.S. FDA approved the first AI medical device, DermaSensor, for detecting skin cancer.
AI's future in oncology holds tremendous potential, particularly in areas like early detection, precision medicine, and personalized treatment plans. AI's ability to analyze large datasets, identify subtle patterns, and provide real-time insights could revolutionize cancer care, leading to better patient outcomes and more efficient healthcare delivery.
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Key Market Trends & Insights
- Regional Insights: North America held the largest revenue share of 45.81% in 2025. The region's dominance is attributed to its advanced digital infrastructure, favorable regulatory and reimbursement policies, and growing government initiatives aimed at boosting the adoption of AI technologies in healthcare. The rising prevalence of cancer is further driving the need for advanced therapeutics and diagnostics, contributing to the regional market's growth.
- Component Insights: The hardware segment led the market in 2025, capturing 39.43% of the revenue share. AI technologies are increasingly being incorporated into medical devices, enabling better patient care by learning from real-world data and improving their performance over time. Governments and private companies are making substantial investments to advance AI-based cancer therapy solutions, further driving growth in this segment.
- Cancer Type Insights: The breast cancer segment led the market with the largest revenue share of 20.99% in 2025. This dominance is driven by the high prevalence of breast cancer. According to the American Cancer Society, approximately 316,950 new cases of invasive breast cancer are expected to be diagnosed in the U.S. in 2025. The growing number of diagnoses is propelling the demand for AI-powered diagnostic and therapeutic solutions.
- Application Insights: The diagnostics segment captured the largest revenue share of 37.65% in 2025. AI in cancer diagnostics plays a critical role in improving the accuracy and speed of diagnosis, which is essential for effective treatment planning. AI advancements are making early detection more efficient, including screening asymptomatic patients and quickly identifying those at higher risk.
- End-Use Insights: The hospitals segment led the market with the largest revenue share of 48.55% in 2025. The increasing adoption of AI-powered solutions in hospitals, combined with the rise in cancer cases, is expected to fuel market growth in this sector. Hospitals are becoming primary hubs for cancer care, with AI enhancing diagnostic accuracy and treatment efficacy.
Market Size & Forecast
- 2025 Market Size: USD 6.00 Billion
- 2033 Projected Market Size: USD 38.91 Billion
- CAGR (2026-2033): 24.77%
- North America: Largest market in 2025
- Asia Pacific: Fastest growing market
Key Companies & Market Share Insights
Leading players in the AI in oncology market, such as Azra AI, ICAD, INC., Siemens Healthcare GmbH, Intel Corporation, and GE Healthcare, are adopting strategies like product development, partnerships, and mergers & acquisitions to increase their market share. These companies are focused on developing innovative technologies to meet the growing demand for cancer care solutions.
For example, in January 2023, Massive Bio announced plans to leverage AI in oncology through the development and launch of a drug matching product. Similarly, in January 2020, ConcertAI launched eurekaHealth 3.0, a platform combining real-world data and AI technologies to provide insights for oncology clinical development.
Key Players
- Azra AI
- ICAD, INC.
- Siemens Healthcare GmbH
- Intel Corporation
- GE HealthCare
- NVIDIA Corporation
- Digital Diagnostics Inc.
- ConcertAI
- Median Technologies
- PathAI
- MVision AI
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Conclusion
The AI in oncology market is on track for significant growth through 2033, driven by increasing cancer prevalence, technological advancements in diagnostics and treatment, and the expanding adoption of precision medicine. North America will continue to dominate the market, while Asia Pacific is expected to experience the fastest growth. The future of AI in oncology holds immense promise, particularly in early cancer detection, personalized treatments, and improving patient outcomes. With continued investments and regulatory advancements, AI is poised to revolutionize cancer care and transform the way cancer is diagnosed, treated, and managed globally.
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