Artificial Intelligence (AI) in Precision Medicine Market Analysis 2024

Introduction

The Artificial Intelligence (AI) in Precision Medicine Market is undergoing rapid changes due to evolving technologies, consumer behaviors, and regulatory frameworks. This research report explores essential insights, market trends, and forecasts between 2024 and 2030, offering valuable context for businesses, investors, and decision-makers. It is designed to provide a clear understanding of where the market stands and where it's heading, with the added benefit of downloadable resources and analyst support.

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What This Report Covers

Current Market Size & Forecast (2024–2030)
Key Growth Drivers & Challenges
Latest Trends & Investment Hotspots
Market Segmentation:
Competitive Landscape & Player Analysis
Opportunities, Risks, and Strategic Recommendations

Current Market Status and Future Projections

Artificial Intelligence (AI) in Precision Medicine Market size was valued at USD 1.7 billion in 2023 and is projected to reach USD 14.5 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 27% during the forecast period, i.e., 2024-30.

Key Factors Influencing Growth

Asthma & chronic obstructive pulmonary disease (COPD) are most in the world responsible for high mortality rates. Ultimately, the need for AI in assessing the role of abnormally expressed genes & identifying potential novel targets for life-changing precision medicines has been greater than before. As a result, the Market has been experiencing positive growth trends. For instance, in 2023 COPD remained the 3rd leading cause of death worldwide as the WHO reported.

Further, the number of genomic research projects has been increasing with significant funding from government & private research bodies. Such research projects collect large volumes of genomic datasets and thereby make it easier for scientists to develop tailored treatments with enhanced efficacy & minimal side effects. This eventually, drives the adoption of AI to analyze the vast amount of genomic & clinical data to understand the genetic basis of disease & develop precision treatments. As a result, the market for AI in Precision Medicine has been expanding globally

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Breakdown by Segments and Geography

By Component

Hardware- Market Size & Forecast 2019-2030, USD Million
Software- Market Size & Forecast 2019-2030, USD Million
Services- Market Size & Forecast 2019-2030, USD Million

Out of them, the software category held a considerable market share of the Global Artificial Intelligence (AI) in the Precision Medicine Market during 2019-2023.

By Technology

Deep Learning- Market Size & Forecast 2019-2030, USD Million
Machine Learning- Market Size & Forecast 2019-2030, USD Million
Querying Method- Market Size & Forecast 2019-2030, USD Million
Natural Language Processing- Market Size & Forecast 2019-2030, USD Million
Context-Aware Processing- Market Size & Forecast 2019-2030, USD Million

By Therapeutic Application

Oncology- Market Size & Forecast 2019-2030, USD Million
Neurosciences- Market Size & Forecast 2019-2030, USD Million
Cardiology- Market Size & Forecast 2019-2030, USD Million
Hematological Diseases- Market Size & Forecast 2019-2030, USD Million
Autoimmune Diseases- Market Size & Forecast 2019-2030, USD Million
Others (Respiratory, Kidney Diseases, etc.)- Market Size & Forecast 2019-2030, USD Million

Out of all, the cardiology category expects to grow with a considerable market share of Global AI in Precision Medicine Market.

By Region

North America
South America
Europe
The Middle East & Africa
Asia-Pacific.

North America expects to hold a prominent market share of Global Artificial Intelligence (AI) in Precision Medicine Market, among all regions.

Competitive Landscape and Market Positioning

The Artificial Intelligence (AI) in Precision Medicine Market is highly competitive, with both established companies and new entrants contributing to its dynamism. Leading players such as:

Tempus
Intel Corporation
Zephyr AI
IBM
NVIDIA Corporation
Intuz
Google LLC
Persistent Systems
Owkin, Inc.
GE Healthcare
Insilico Medicine
Atomwise
BioXcel Therapeutics
Sanofi

are focusing on expanding their product portfolios, enhancing user experiences, and investing in R&D. Recent developments include mergers, acquisitions, strategic partnerships, and geographic expansion. These activities highlight the evolving strategies being adopted to gain market share and respond to shifting consumer needs.

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Strategic Outlook and Analyst Perspective

Looking ahead, the Artificial Intelligence (AI) in Precision Medicine Market is poised for significant transformation. Emerging trends like AI integration, eco-friendly product development, and digitalization are expected to reshape industry dynamics. Analysts recommend that stakeholders keep a close eye on regional shifts, policy developments, and evolving customer preferences. Businesses that remain agile, adopt technology early, and prioritize customer-centric innovation will likely emerge as leaders in this evolving landscape.

Research Methodology We Use

Primary research via expert interviews and surveys
Secondary data from verified industry sources
Top-down & bottom-up estimation
Forecasting using time-series models & triangulation

Key Questions Answered

What is the current market size of Artificial Intelligence (AI) in Precision Medicine Market?
What is the expected growth rate by 2030?
Which segments are gaining the most traction?
What are the major trends and challenges?
Who are the major players, and what are their strategies?
Which region holds the highest growth potential?

Other Report:

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