Artificial Intelligence in Precision Medicine Market by Technology (Querying Method, Deep Learning, Context Aware Processing, Natural Language Processing), Component (Service, Hardware, Software), Therapeutic Application (Cardiology, Oncology, Respiratory), and by Region - Global Forecast to 2022-2033

The artificial intelligence in precision medicine market size is estimated to be USD 987.2 million in 2022 and is expected to witness a CAGR of 9.67% during the forecast period 2023-2033. Rising R&D spending and expanding use of tailored drugs are some of the factors contributing to the market growth. Furthermore, growing partnerships and collaborations among key market players and rising prevalence of respiratory problems are other factors supporting the However, high price of precision medicine is expected to hinder the growth.

Growing partnerships and collaborations among key market players is expected to fuel the market growth during the forecasted period. For instance, Intel and the Perelman School of Medicine at the University of Pennsylvania collaborated to develop an AI model that aids in the early diagnosis of brain tumours. Using federated learning, a technique that protects privacy, Penn Medicine built this application in partnership with 29 global organizations. With the use of this technology, numerous companies will be able to collaborate together and train an AI model without disclosing private patient information.

Rising prevalence of respiratory problems including sleep apnea and chronic obstructive pulmonary disease is predicted to spur the market growth during the projected period. WHO estimates that 3.2 million persons with mild to severe chronic obstructive pulmonary disorders died globally in 2019. (COPD). Furthermore, COPD will be the third leading cause of death worldwide, according to WHO estimates.

Segmentation

By Technology

The market is categorized into querying method, deep learning, context aware processing, and natural language processing. In 2022, the deep learning segment accounted for the highest revenue share due to the advancements in data centre capabilities, rapid processing, and the ability to complete tasks without human interaction. Current deep-learning algorithms can combine and model various data from a single patient across modalities and time, enabling better predictions and therapy recommendations. The segment for natural language processing is anticipated to have the fastest CAGR over the projected period. To extract meaning from words, natural language processing (NLP) examines both text and speech. NLP is the technique of employing computer algorithms to extract meaning from unstructured spoken or written material and to discover key components of a common language. This technology will be essential in accelerating the decision-making procedures in the healthcare industry. The quality of the data acquired determines the genuine advantage of developing efficient algorithms. Faster decision-making will free up doctors to concentrate on patient therapies that offer value.

By Component

The market is categorized into service, hardware, and software. In the global market, the software segment accounted for the largest revenue share in 2022 owing to fact that healthcare payers, institutions, providers, and patients’ quick adoption of AI-based software solutions for precision medicine. GE Healthcare developed the Edison AI platform in September 2019 in collaboration with five Chinese, regional software firms, namely Shukun Technology, 12 Sigma Technologies, YITU Technology, Biomind, and Yizhun Medical AI, to support GE Healthcare’s easy digital transformation. It is also anticipated to experience the fastest CAGR during the forecast period. A range of healthcare applications, including cybersecurity, virtual assistants, clinical trials, robot-assisted surgeries, telemedicine, and fraud detection, are increasingly using AI-based technology, which is driving the segment’s quick growth. Additionally, measures by both public and private players are promoting the segment’s expansion.

By Therapeutic Application

The market is segmented into cardiology, oncology, respiratory, neurology, and others. In 2022, the oncology segment accounted for the largest revenue share owing to use of AI in oncology facilitates faster and more accurate cancer diagnosis, improving patient outcomes. Two key factors that will contribute significantly to the expansion of the oncology segment are the developing healthcare infrastructure and the rising incidence of cancer. The segment for neurology is predicted to increase at the fastest rate. The rise in neurological conditions such epilepsy, migraines, dementia, brain tumors, and Alzheimer’s disease is anticipated to propel the segment’s expansion. Growth in this market is also being fuelled by technological advancements and the demand for early neurological problem detection.

Regional Markets

 

In 2022, North America region accounted for the highest revenue in the artificial intelligence in precision medicine market and is expected to maintain its dominance during the forecast period. This is attributed to the increased R&D expenditures and rising demand for precision pharmaceuticals. Collaborations between significant companies are further supporting the growth. For instance, Sanofi and Atomwise reached an agreement in August 2022 to spend $20 million on a contract that would allow Sanofi to use Atomwise’s AtomNet platform for research and computational discovery research on up to five therapeutic targets. The platform integrates deep learning-based modules for the structure-based development of pharmaceuticals through rapid, AI-powered searches of the company’s exclusive library of more than three trillion synthesizable complexes. The region of Europe is anticipated to experience the fastest CAGR over the forecast period. The increase in demand for early disease diagnosis and better understanding is partly due to the rising prevalence of chronic diseases and the aging population. To keep a competitive advantage over competitors businesses in the market, several businesses are using techniques. For instance, in June 2021, Merck KGaA, Darmstadt, Germany and Nucleai, a precision medicine company offering AI-powered image analysis technology, announced that they had partnered for the long term to use Nucleai’s biomarker discovery platform and image analysis for a number of Merck KGaA, Darmstadt, Germany clinical-stage oncology assets.

Competitor Insights

Some of the key players operating in the artificial intelligence in precision medicine market are Sanofi, Microsoft, IBM, NVIDIA Corporation, Alphabet Inc. (Google Inc.), Intel Corporation, BioXcel Therapeutics Inc, GE Healthcare, Microsoft Corporation, Enlitic Inc., and AstraZeneca

  • For instance, in May 2021, the Adventist non-profit healthcare group AdventHealth announced that it would collaborate with Sema4. AdventHealth’s genetic and clinical data will be combined by the organisations using the software platform and tools from Sema4. AdventHealth’s genomics and customised health programme, which also involves investments in precision medicine research and genetic testing, counselling, and sequencing, is being expanded by the agreement.

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including technology, component, and therapeutic application from 2023 to 2033.

Report Scope:

Key Parameters Details
Market size in 2022
  • USD 987.2 Million
CAGR
  • 9.67%
Base Year
  • 2022
Forecast Period
  • 2023-2033
Study Coverage
  • Global and regional market size and revenue forecast
  • Segment market size and revenue forecast at global, regional, and country level
  • Competitive landscape (company share analysis, company profiles, recent development, competitive map analysis)
  • Conclusion and recommendations
Qualitative Analysis
  • Market drivers
  • Market restraints
  • Market opportunities
  • Recent market trends
  • Market challenges
  • Porter’s Five Forces analysis
  • PEST analysis
  • COVID-19 impact analysis
Segment Market Scope
  • Technology
  • Component
  • Therapeutic Application
Regional Market Scope
  • North America
    (U.S. and Canada)
  • Europe
    (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
  • Asia Pacific
    (China, Japan, India, Australia, South Korea, Rest of APAC)
  • Latin America
    (Brazil, Mexico, Argentina, Rest of LATAM)
  • MEA
    (South Africa, GCC, Rest of MEA)
Company Profiles
  • Exhaustive profiles of top 10 players
  • Other major players listing
15% Free Customization Available
  • You can customize the study scope to meet your exact requirement. Click here for more details

Segmentation: Artificial Intelligence in Precision Medicine Market Report 2022 – 2033

Technology (Revenue, USD Million), 2022 – 2033

  • Querying Method
  • Deep Learning
  • Context Aware Processing
  • Natural Language Processing

Component (Revenue, USD Million), 2022 – 2033

  • Service
  • Hardware
  • Software

Therapeutic Application (Revenue, USD Million), 2022 – 2033

  • Cardiology
  • Oncology
  • Respiratory
  • Neurology
  • Others

By Region (Revenue, USD Million), 2022 – 2033

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of LATAM
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • Rest of MEA

Table of Contents: Artificial Intelligence in Precision Medicine Market 2022-2033

  1. Research Methodology
    1. Study Objectives
    2. Study Scope
    3. Research Framework
      1. Research Models
        1. Bottom-up Approach
        2. Top-down Approach
        3. Data Triangulation
      2. Data Analysis
        1. Data Validation
        2. Market Size Estimation
        3. Market Forecast Model
  1. Introduction: Artificial Intelligence in Precision Medicine
  2. Executive Summary
  3. Market Dynamics
    1. Market Drivers
      1. Driver 1
      2. Driver 2
      3. Driver 3
      4. Driver 4
    2. Market Restraint
      1. Restraint 1
      2. Restraint 2
      3. Restraint 3
    3. Market Opportunities
      1. Opportunity 1
      2. Opportunity 2
      3. Opportunity 3
    4. Market Trends
      1. Trend 1
      2. Trend 2
      3. Trend 3
    5. Market Challenges
      1. Challenge 1
      2. Challenge 2
      3. Challenge 3
  1. Market Environment Analysis
    1. Porter’s 5 Forces Analysis
    2. PESTEL Analysis
    3. SWOT Analysis
  2. COVID-19 Impact Analysis: Artificial Intelligence in Precision Medicine Market
  3. Market Analysis by Technology
    1. Querying Method
      1. Querying Method Market Forecast, 2022-2033(USD Million)
    2. Deep Learning
      1. Deep LearningMarket Forecast, 2022-2033 (USD Million)
    3. Context Aware Processing
      1. Context Aware Processing Market Forecast, 2022-2033(USD Million)
    4. Natural Language Processing
      1. Natural Language ProcessingMarket Forecast, 2022-2033 (USD Million)
  1. Market Analysis by Component
    1. Service
      1. Service Market Forecast, 2022-2033(USD Million)
    2. Hardware
      1. Hardware Market Forecast, 2022-2033(USD Million)
    3. Software
      1. Software Market Forecast, 2022-2033(USD Million)
  1. Market Analysis by Therapeutic Application
    1. Cardiology
      1. Cardiology Market Forecast, 2022-2033(USD Million)
    2. Oncology
      1. Oncology Market Forecast, 2022-2033(USD Million)
    3. Respiratory
      1. RespiratoryMarket Forecast, 2022-2033 (USD Million)
    4. Neurology
      1. Neurology Market Forecast, 2022-2033(USD Million)
    5. Others
      1. OthersMarket Forecast, 2022-2033 (USD Million)
  1. Regional Market Analysis
    1. Regional Market Trends Analysis
  2. North America Artificial Intelligence in Precision Medicine Market
    1. North America Artificial Intelligence in Precision Medicine Market
      1. North America Market Size and Forecast, 2022-2033(USD Million)
        1. Market Size and Forecast by Technology, 2022-2033(USD Million)
        2. Market Size and Forecast by Component, 2022-2033(USD Million)
        3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
      2. S. Artificial Intelligence in Precision Medicine Market
        1. S. Market Size and Forecast, 2022-2033(USD Million)
          1. Market Size and Forecast by Technology, 2022-2033(USD Million)
          2. Market Size and Forecast by Component, 2022-2033(USD Million)
          3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
        2. Canada Artificial Intelligence in Precision Medicine Market
          1. Canada Market Size and Forecast, 2022-2033(USD Million)
            1. Market Size and Forecast by Technology, 2022-2033(USD Million)
            2. Market Size and Forecast by Component, 2022-2033(USD Million)
            3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
  1. Europe Artificial Intelligence in Precision Medicine Market
    1. Europe Artificial Intelligence in Precision Medicine Market
      1. Europe Market Size and Forecast, 2022-2033(USD Million)
        1. Market Size and Forecast by Technology, 2022-2033(USD Million)
        2. Market Size and Forecast by Component, 2022-2033(USD Million)
        3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
      2. Germany Artificial Intelligence in Precision Medicine Market
        1. Germany Market Size and Forecast, 2022-2033(USD Million)
          1. Market Size and Forecast by Technology, 2022-2033(USD Million)
          2. Market Size and Forecast by Component, 2022-2033(USD Million)
          3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
        2. UK Artificial Intelligence in Precision Medicine Market
          1. UK Market Size and Forecast, 2022-2033(USD Million)
            1. Market Size and Forecast by Technology, 2022-2033(USD Million)
            2. Market Size and Forecast by Component, 2022-2033(USD Million)
            3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
          2. France Artificial Intelligence in Precision Medicine Market
            1. France Market Size and Forecast, 2022-2033(USD Million)
              1. Market Size and Forecast by Technology, 2022-2033(USD Million)
              2. Market Size and Forecast by Component, 2022-2033(USD Million)
              3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
            2. Spain Artificial Intelligence in Precision Medicine Market
              1. Spain Market Size and Forecast, 2022-2033(USD Million)
                1. Market Size and Forecast by Technology, 2022-2033(USD Million)
                2. Market Size and Forecast by Component, 2022-2033(USD Million)
                3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
              2. Italy Artificial Intelligence in Precision Medicine Market
                1. Italy Market Size and Forecast, 2022-2033(USD Million)
                  1. Market Size and Forecast by Technology, 2022-2033(USD Million)
                  2. Market Size and Forecast by Component, 2022-2033(USD Million)
                  3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
                2. Rest of Europe Artificial Intelligence in Precision Medicine Market
                  1. Rest of Europe Market Size and Forecast, 2022-2033(USD Million)
                    1. Market Size and Forecast by Technology, 2022-2033(USD Million)
                    2. Market Size and Forecast by Component, 2022-2033(USD Million)
                    3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
  1. Asia Pacific Artificial Intelligence in Precision Medicine Market
    1. Asia Pacific Artificial Intelligence in Precision Medicine Market
      1. Asia Pacific Market Size and Forecast, 2022-2033(USD Million)
        1. Market Size and Forecast by Technology, 2022-2033(USD Million)
        2. Market Size and Forecast by Component, 2022-2033(USD Million)
        3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
      2. Japan Artificial Intelligence in Precision Medicine Market
        1. Japan Market Size and Forecast, 2022-2033(USD Million)
          1. Market Size and Forecast by Technology, 2022-2033(USD Million)
          2. Market Size and Forecast by Component, 2022-2033(USD Million)
          3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
        2. China Artificial Intelligence in Precision Medicine Market
          1. China Market Size and Forecast, 2022-2033(USD Million)
            1. Market Size and Forecast by Technology, 2022-2033(USD Million)
            2. Market Size and Forecast by Component, 2022-2033(USD Million)
            3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
          2. India Artificial Intelligence in Precision Medicine Market
            1. India Market Size and Forecast, 2022-2033(USD Million)
              1. Market Size and Forecast by Technology, 2022-2033(USD Million)
              2. Market Size and Forecast by Component, 2022-2033(USD Million)
              3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
            2. South Korea Artificial Intelligence in Precision Medicine Market
              1. South Korea Market Size and Forecast, 2022-2033(USD Million)
                1. Market Size and Forecast by Technology, 2022-2033(USD Million)
                2. Market Size and Forecast by Component, 2022-2033(USD Million)
                3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
              2. Australia Artificial Intelligence in Precision Medicine Market
                1. Australia Market Size and Forecast, 2022-2033(USD Million)
                  1. Market Size and Forecast by Technology, 2022-2033(USD Million)
                  2. Market Size and Forecast by Component, 2022-2033(USD Million)
                  3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
                2. Rest of Asia Pacific Artificial Intelligence in Precision Medicine Market
                  1. Rest of Asia Pacific Market Size and Forecast, 2022-2033(USD Million)
                    1. Market Size and Forecast by Technology, 2022-2033(USD Million)
                    2. Market Size and Forecast by Component, 2022-2033(USD Million)
                    3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
  1. Latin America Artificial Intelligence in Precision Medicine Market
    1. Latin America Artificial Intelligence in Precision Medicine Market
      1. Latin America Market Size and Forecast, 2022-2033(USD Million)
        1. Market Size and Forecast by Technology, 2022-2033(USD Million)
        2. Market Size and Forecast by Component, 2022-2033(USD Million)
        3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
      2. Brazil Artificial Intelligence in Precision Medicine Market
        1. Brazil Market Size and Forecast, 2022-2033(USD Million)
          1. Market Size and Forecast by Technology, 2022-2033(USD Million)
          2. Market Size and Forecast by Component, 2022-2033(USD Million)
          3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
        2. Mexico Artificial Intelligence in Precision Medicine Market
          1. Mexico Market Size and Forecast, 2022-2033(USD Million)
            1. Market Size and Forecast by Technology, 2022-2033(USD Million)
            2. Market Size and Forecast by Component, 2022-2033(USD Million)
            3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
          2. Argentina Artificial Intelligence in Precision Medicine Market
            1. Argentina Market Size and Forecast, 2022-2033(USD Million)
              1. Market Size and Forecast by Technology, 2022-2033(USD Million)
              2. Market Size and Forecast by Component, 2022-2033(USD Million)
              3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
            2. Rest of Latin America Artificial Intelligence in Precision Medicine Market
              1. Rest of Latin America Market Size and Forecast, 2022-2033(USD Million)
                1. Market Size and Forecast by Technology, 2022-2033(USD Million)
                2. Market Size and Forecast by Component, 2022-2033(USD Million)
                3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
  1. MEA Artificial Intelligence in Precision Medicine Market
    1. MEA Artificial Intelligence in Precision Medicine Market
      1. MEA Market Size and Forecast, 2022-2033(USD Million)
        1. Market Size and Forecast by Technology, 2022-2033(USD Million)
        2. Market Size and Forecast by Component, 2022-2033(USD Million)
        3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
      2. GCC Artificial Intelligence in Precision Medicine Market
        1. GCC Market Size and Forecast, 2022-2033(USD Million)
          1. Market Size and Forecast by Technology, 2022-2033(USD Million)
          2. Market Size and Forecast by Component, 2022-2033(USD Million)
          3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
        2. South Africa Artificial Intelligence in Precision Medicine Market
          1. South Africa Market Size and Forecast, 2022-2033(USD Million)
            1. Market Size and Forecast by Technology, 2022-2033(USD Million)
            2. Market Size and Forecast by Component, 2022-2033(USD Million)
            3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
          2. Rest of MEA Artificial Intelligence in Precision Medicine Market
            1. Rest of MEA Market Size and Forecast, 2022-2033(USD Million)
              1. Market Size and Forecast by Technology, 2022-2033(USD Million)
              2. Market Size and Forecast by Component, 2022-2033(USD Million)
              3. Market Size and Forecast by Therapeutic Application, 2022-2033(USD Million)
  1. Competitor Analysis
    1. Market Share Analysis, 2022
    2. Major Recent Developments, 2019-2022
  2. Company Profiles
    1. Sanofi
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    2. Microsoft
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    3. IBM
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    4. NVIDIA Corporation
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    5. Alphabet Inc. (Google Inc.)
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    6. Intel Corporation
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    7. BioXcel Therapeutics Inc
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    8. GE Healthcare
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    9. Microsoft Corporation
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    10. Enlitic Inc.
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    11. AstraZeneca
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    12. Company 12
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    13. Company 13
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    14. Company 14
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
    15. Company 15
      1. Company Snapshot
      2. Company Overview
      3. Financial Analysis
      4. Product Benchmarking
      5. Recent Developments
  1. Conclusion
  2. Recommendations

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