Dublin, May 19, 2025 (GLOBE NEWSWIRE) -- The "Artificial Intelligence (AI) in Precision Medicine - Market Insights, Competitive Landscape, and Market Forecast - 2032" has been added to ResearchAndMarkets.com's offering.
The Artificial Intelligence (AI) in precision medicine market is poised for robust growth, propelled by the urgent need for personalized treatment amidst the global rise in chronic and genetic diseases. The market, valued at USD 1.03 billion in 2024, is projected to grow at a CAGR of 33.18%, reaching USD 10.24 billion by 2032. The increasing complexities in disease diagnosis and treatment have heightened the demand for AI-powered precision diagnostics and therapeutics, which are instrumental in analyzing complex biological data.
Technological advancements and innovative product development enhance the precision and speed of medical interventions. Strategic product launches by industry leaders, backed by vigorous research and development (R&D) activities, accelerate market growth, setting a promising trajectory for the forecast period (2025-2032). However, challenges such as data privacy concerns, regulatory hurdles, and the need for clinical validation could impede rapid expansion.
According to GLOBOCAN data, cancer cases are expected to skyrocket from 20 million in 2022 to 35 million by 2050, indicating a significant demand for AI-powered solutions in oncology. The Breast Cancer Research Foundation reports 2.3 million breast cancer cases in 2022, while lung and colorectal cancers accounted for 2.48 million and 1.93 million cases, respectively, the same year. These alarming statistics underscore the need for precision medicine in cancer care.
The World Health Organization and the International Diabetes Federation highlight a surge in cases of cardiovascular diseases, diabetes, and viral infections, necessitating more targeted and proactive healthcare solutions. AI technologies facilitate early diagnosis, personalized treatment plans, and real-time monitoring, paving the way for data-driven, individualized care.
The latest data from the Personalized Medicine Coalition indicates an upward trend in FDA-approved personalized treatments, with 16 new approvals in 2023, reinforcing the emphasis on individualized care. Notably, Tempus AI, Inc.'s FDA clearance for its AI-powered Tempus ECG-AF exemplifies the sector's innovation, aiding early detection of atrial fibrillation.
Regionally, North America is projected to dominate the market, driven by advanced R&D, a well-established healthcare infrastructure, and increasing chronic and lifestyle diseases. Market leaders like Prenosis and Ibex Medical Analytics continue to push boundaries with novel AI-driven diagnostic tools. For instance, Prenosis's Sepsis ImmunoScoreT and Ibex's Prostate Detect leverage AI for improved diagnosis and patient care.
Leading players like TEMPUS, GE HealthCare, Qure.ai, and others are key contributors to the market's development. Partnerships, such as Illumina Inc. and Tempus AI, align towards accelerating genomic testing, while Avicenna.AI's FDA-approved triage tools for detecting fractures exemplify the strides being made in AI applications in medicine.
In conclusion, the Artificial Intelligence in precision medicine market is set for substantial expansion by 2032, supported by technological innovations and an increasing focus on personalized healthcare solutions. Leveraging AI's analytical power, the industry is transforming healthcare delivery, ensuring faster diagnoses and tailored treatments, aligning with global health needs.
Key Topics Covered:
1. Artificial Intelligence (AI) in Precision Medicine Market Report Introduction
- 1.1. Scope of the Study
- 1.2. Market Segmentation
- 1.3. Market Assumption
- 1.4. Project Approach
2. Artificial Intelligence (AI) in Precision Medicine Market Executive Summary
- 2.1. Market at Glance
3. Competitive Landscape
4. Regulatory Analysis
5. Artificial Intelligence (AI) in Precision Medicine Market Key Factors Analysis
- 5.1. Artificial Intelligence (AI) in Precision Medicine Market Drivers
- 5.2. Artificial Intelligence (AI) in Precision Medicine Market Restraints and Challenges
- 5.3. Artificial Intelligence (AI) in Precision Medicine Market Opportunities
6. Artificial Intelligence (AI) in Precision Medicine Market Porter's Five Forces Analysis
- 6.1. Bargaining Power of Suppliers
- 6.2. Bargaining Power of Consumers
- 6.3. Threat of New Entrants
- 6.4. Threat of Substitutes
- 6.5. Competitive Rivalry
7. Artificial Intelligence (AI) in Precision Medicine Market Assessment
- 7.1. By Product
- 7.2. By Technology
- 7.3. By Application
- 7.4. By Therapeutic Area
- 7.5. By Geography
8. Artificial Intelligence (AI) in Precision Medicine Market Company and Product Profiles
- 8.1. TEMPUS
- 8.2. GE HealthCare
- 8.3. Qure.ai
- 8.4. Envisionit Deep AI (Pty) Ltd.
- 8.5. Avicenna.AI
- 8.6. Aignostics, Inc.
- 8.7. Proscia Inc.
- 8.8. Ultivue, Inc.
- 8.9. Prenosis, Inc.
- 8.10. IBEX
- 8.11. Cleerly, Inc.
- 8.12. Paige AI, Inc.
- 8.13. Densitas Inc.Co.
- 8.14. Photocure ASACo.
- 8.15. iCAD, Inc.
- 8.16. Eko Health, Inc.
- 8.17. Owkin, Inc.
- 8.18. Massive Bio
- 8.19. Deep Bio Inc., Inc.
- 8.20. Atomwise Inc.
For more information about this report visit https://www.researchandmarkets.com/r/5xymwu
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