Artificial Intelligence (AI) is a ubiquitous technology that finds applications in almost every sector. And medical diagnosis is no exception. AI can assist clinicians and researchers in detecting, diagnosing, and treating cancer by analyzing large amounts of medical data like medical images, patient records, and other genetic information. This blog post lists the top 10 artificial intelligence in cancer diagnostics market key players propelling the industry forward. Please stick with us!
#1. Pfizer
Establishment year: 1849
Headquarters: Manhattan, New York City
Pfizer is one of the leading biopharmaceutical firms in the world. It develops and produces medicines for several branches of medicine, including neurology, cardiology, oncology, and immunology. The firm has made substantial investments in the Artificial Intelligence technology to speed and smarten the work of cancer diagnosis and treatment.
#2. Sophia Genetics
Establishment year: 2011
Headquarters: Switzerland
Sophia Genetics is a data-driven medicine software firm that originally began as a research tool for healthcare facilities and regulated healthcare labs. The company then expanded its operations to offer genomic and radiomic analysis services to biopharma institutions as well. Sophia Genetics’ end-to-end solutions make it possible to detect and characterize sophisticated genomic variations linked to various blood cancer disorders.
#3. Freenome
Establishment year: 2014
Headquarters: South San Francisco, California
Freenome is a high-growth biotechnology firm that aims to create tools that help everyone prevent, detect, and treat diseases. Using AI and ML techniques, the company is developing next-gen blood tests that allow healthcare specialists to detect cancer in their earliest, most treatable stages. Freenome is dedicated to continuous innovation and improvement, making it one of the leading startups in the artificial intelligence in cancer diagnostics market.
#4. Tempus
Establishment year: 2015
Headquarters: Chicago, IL
Tempus is an AI-enabled precision medicine company that was originally founded with the aim of developing a platform that can ingest real-time healthcare data to offer personalized diagnostics. The platform has now grown to include the fields of oncology, cardiology, infectious disease, and radiology.
#5. Path AI
Establishment year: 2016
Headquarters: Boston, Massachusetts
Path AI is a biotechnology company that’s transforming the field of pathology by developing AI models that streamline patient tissue sample analysis. The firm leverages data from more than 15 million annotations to train, test, and validate its AI-based models. In 2021, the company expanded its operations to clinical diagnostics through the acquisition of Polar Healthcare, impacting the artificial intelligence in cancer diagnostics market sales favorably.
#6. Google DeepMind
Establishment year: 2014
Headquarters: London, United Kingdom
Google DeepMind is a British-American AI lab that serves as a subsidiary of Google. It developed AI-based tools that can expand human knowledge and make a positive global impact. The company’s long-term vision is to create more general problem-solving systems, referred to as artificial general intelligence (AGI). In 2020, the company unveiled its cancer screening tool that can spot breast cancer just as well as doctors.
#7. IBM
Establishment year: 1911
Headquarters: New York, United States
IBM is an American multinational company that’s currently present in more than 175 countries. The firm aspires to have a positive, long-lasting impact on the world by discovering, designing, and implementing top-notch technology solutions. IBM’s Watson for Genomics platform helps oncologists to quickly analyze genomic data and use it to develop personalized treatment plans for cancer patients.
#8. Cerner Corporation
Establishment year: 1979
Headquarters: Kansas City, Missouri
Cerner Corporation is a subsidiary of Oracle that is committed to enhancing healthcare experiences for patients and clinicians worldwide. Known for its innovation, Cerner helps healthcare professionals make effective care decisions and assists firms in managing the health of their workers. In 2022, the company announced its collaboration with other artificial intelligence in cancer diagnostics market players to help advance early cancer detection.
#9. RaySearch Laboratories
Establishment year: 2000
Headquarters: Stockholm
RaySearch is a Swedish medical technology company advancing healthcare by developing sophisticated software solutions. The firm collaborates and works with prominent cancer centers to bring scientific developments faster to the world of medicine.
#10. Flatiron
Establishment year: 2012
Headquarters: New York
Flatiron is a healthcare firm committed to enhancing cancer care and advancing research. Several healthcare professionals, researchers, and regulators worldwide make use of Flatiron’s technology to provide smarter care to their patients. The company has more than 3.5 million patient records available to help support cancer research.
Conclusion
The artificial intelligence in cancer diagnostics market size was USD 687.9 million in 2022 and is expected to grow at a CAGR of 28.5%, generating an estimated revenue of USD 8,390.1 million by 2032. Technological advancements, rising investment in cancer research, and the growing need for early cancer detection are some of the primary factors propelling the market forward.