artificial intelligence in cancer diagnostics market

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.

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#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.

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#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.

By Nitin Tambe

Nitin is a passionate content writer with three years of experience in content writing. He specializes in creating engaging blogs, articles and website content that resonates with the audience. Nitin is always eager to challenge himself and brings a unique perspective and creative approach to every project. During his free time, you can find him immersed in technology, science-fiction and mystery books.