AI in the cancer market to reach USD$5,292mn by 2030

Research from Fatpos Global suggests use of AI in the cancer market to reach USD$5,292mn in 2030, with support from Microsoft, NVIDIA, IBM, Intel & Siemens

According to a study by Fatpos Global, the use of artificial intelligence in the cancer market is expected to pass USD$5,292mn by 2030 and have a CAGR of 34.4% 2020 - 2030. 

The report also suggests that the market will grow, mainly due to the rise in the inflow of patient health-related digital data.


AI in healthcare, from identifying cancer to supporting doctors 

Since its conception in the 1950’s, artificial intelligence has improved lives in many ways, from manufacturing machines to perform jobs in a human-like way to increasing efficiency, it’s only natural that AI would impact cancer diagnosis and treatment.

In the new report, Fatpos Global focuses on the capabilities of AI in identifying illnesses early on and using past-health data to forecast possible future illnesses.

According to the report, the key international AI players in the cancer market will be:

  • Microsoft Corporation
  • NVIDIA
  • IBM
  • Intel
  • Siemens Healthineers
  • GE Healthcare
  • Digital Diagnostics


Furthermore, AI can be used in supporting doctors and nurses by:

  • Collecting information
  • Interpreting pictures
  • Organising therapy


Using AI to deliver value-based care to cancer patients

“To help end-users overcome the shortage of radiologists, deliver value-based care, early disease detection and diagnosis, and maintain a competitive edge in the market, companies are increasingly focusing on expanding their geographical reach and introducing newer, innovative solutions through various strategies, including partnerships, product launches, and collaborations,” said one of Fatpos Global’s lead analysts.  

However, there are some areas where AI cannot help. According to the World Health Organisation, one-third of cancer deaths are caused by:

  • Tobacco
  • High body mass index
  • Alcohol consumption
  • Poor diet
  • Lack of physical activity


Although cancer devastates lives at random, education around the impact of these lifestyles can help prevent cancer.

You can read more about the report here

Share

Featured Articles

Delivering the right tech solutions to healthcare facilities

Alex Sweeting, Head of IT at 4ways Healthcare, explores using technology to deliver new services, in partnership with digital transformer Redcentric

Hospitals & healthcare businesses must face security threats

James Nadal, Product Specialist at Osirium, discusses why hospitals and healthcare organisations must accept the need for robust security strategies

The rise of smart technology to improve patient care

Matt Roberts, Global Practice Lead, Healthcare and Life Sciences at Juniper Networks, discusses how digital healthcare can build a healthier future

How healthcare analytics tools enhance quality care

Technology & AI

5 minutes with Patrick Reetz, CPO at LinkLive, on AI

Technology & AI

AI in healthcare: the data debate according to Kry

Technology & AI