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Written by MarkNtel Advisors » Updated on: October 24th, 2024
A recently published analytical report description by Markntel Advisors describes the significant growth drivers that facilitate boosting market growth. Such as the involvement of government and regulated bodies of widespread countries like the UK, India, Germany, and others towards the adoption of Artificial intelligence in precision medicine. This supports the development of novel precision medicine treatments for diseases like cancer, dementia, etc. The report further elaborates on the growth parameters using a supportive instance: recently in 2023, the UK government stated an investment of approx. USD 132 million to accelerate the utilization of AI in life science and healthcare including in the development of novel precision medicine treatments. This initiative aids the exponential industry expansion with lucrative growth aspects.
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The report comprises “Global Artificial Intelligence (AI) in Precision Medicine Market Research Report: Global Artificial Intelligence (AI) in Precision Medicine Industry Bifurcations - By Component (Hardware, Software, Services), By Technology (Deep Learning, Machine Learning, Querying Method, Natural Language Processing, Context-Aware Processing), By Therapeutic Application (Oncology, Neurosciences, Cardiology, Hematological Diseases, Autoimmune Diseases, Others (Respiratory, Kidney Diseases, etc.), By region (North America, South America, Europe, The Middle East & Africa, and Asia-Pacific) Forecast (2024-2030)”, According to the report, the Global 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. The market growth is also driven by the rising genomic research projects with considerable funding from government and private research bodies.
Something New about Growing Market
The rising prevalence of cancer cases propels the demand for the integration of AI in precision medicine. Cancer is a disease that requires therapies specifically according to the patient’s characteristics, somehow the available treatments like chemotherapy, radiation therapy, and others have not been very effective. This is the reason conventional treatments have to be replaced with modern technologies which not only eliminate side effects but are also available at minimal cost.
The blog comprises Global market players in the Artificial Intelligence (AI) in Precision Medicine industry, with market product information. This blog entails details regarding the prominent factors behind the surging demand for futuristic growth and new opportunities that facilitate market development. Market players such as Tempus, Intel Corporation, Zephyr AI, IBM, NVIDIA Corporation, Intuz, Google LLC, Persistent Systems, Owkin, Inc., and Others, including other leading companies, facilitate revolutionizing the global market and promoting a secure future for the Artificial Intelligence (AI) in Precision Medicine market.
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