Artificial Intelligence In Precision Medicine Market Share Analysis Report, 2023-2032
The global artificial intelligence (AI) in precision medicine market size was exhibited at USD 1.29 billion in 2022 and is projected to hit around USD 27.52 billion by 2032, growing at a CAGR of 35.8% during the forecast period 2023 to 2032.
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Key Pointers:
Artificial Intelligence (AI) in Precision Medicine Market Report Scope
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Report Coverage |
Details |
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Market Size in 2023 |
USD 1.75 Billion |
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Market Size by 2032 |
USD 27.52 Billion |
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Growth Rate From 2023 to 2032 |
CAGR of 35.8% |
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Base Year |
2022 |
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Forecast Period |
2023 to 2032 |
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Segments Covered |
By Technology, By Component and By Therapeutic Application |
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Market Analysis (Terms Used) |
Value (US$ Million/Billion) or (Volume/Units) |
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Regional Scope |
North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
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Key Companies Profiled |
Novo Nordisk A/S, GE Healthcare, Intel Corporation, NVIDIA Corporation, Microsoft Corporation, Alphabet Inc., IBM Corporation, BioXcel Therapeutics Inc., Enlitic Inc., AstraZeneca, Sanofi, Zephyr AI, Sensely Inc., Tempus, Berg LLC, Insilico Medicine, Modernizing Medicine Inc., Atomwise Inc and Others. |
The rising R&D spending and growing demand for tailored medications are driving artificial intelligence (AI) in the precision medicine market growth. Collaboration among key companies is further driving the industry’s expansion. For instance, Sanofi and Atomwise agreed to a USD 20 million deal in August 2022 under which Sanofi agreed to use Atomwise's AtomNet platform for research and computational discovery research on up to five therapeutic targets. Through quick, AI-powered searches of the company's proprietary library of more than three trillion synthesizable complexes, the platform incorporates deep learning-based modules for the structure-based designing of pharmaceuticals.
The growing incidences of respiratory diseases, rapid technological advancements in healthcare, and the rising geriatric population is driving the growth of the market. In addition, increased usage of therapeutic respiratory devices, such as nebulizers, oxygen concentrators, and humidifiers, will help drive the industry growth. The growing prevalence of respiratory ailments, such as sleep apnea and chronic obstructive pulmonary disease, is expected to fuel the growth of the respiratory segment. According to WHO projections, 3.2 million people died worldwide in 2019 with mild to severe Chronic Obstructive Pulmonary Disorders (COPD). Furthermore, according to WHO projections, COPD will be the third greatest cause of mortality globally.
The COVID-19 pandemic has accelerated the use of artificial intelligence (AI) in the healthcare industry. Applications of AI have improved a variety of healthcare services, including precision medicine, population health, chronic illness management, and medical imaging. The use of artificial intelligence in COVID-19 management accelerated the market expansion. A COVID-19 mortality risk calculator, for instance, was introduced by a team from the Johns Hopkins School of Public Health using artificial intelligence. With the use of artificial intelligence, this calculator guided public health initiatives including resources for prevention, such as N-95 masks. Moreover, AI was applied to allocate scarce resources and define therapy priorities for patients with COVID-19. An online triage tool model was introduced by a team of researchers at the General Hospital of the People's Liberation Army, Beijing, China, to handle suspected COVID-19 pneumonia in adult patients.
Major companies are increasingly adopting collaborations and partnerships as strategies to maintain their market position. For example, Intel collaborated with the University of Pennsylvania's Perelman School of Medicine to create an AI model that aids in the detection of brain cancer. Penn Medicine collaborated with 29 international organizations to build this tool using a privacy-preserving method known as federated learning. This technology will allow various companies to collaborate and train the AI model without sharing sensitive patient data.
Some of the prominent players in the Artificial Intelligence (AI) in Precision Medicine Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Artificial Intelligence (AI) in Precision Medicine market.
By Technology
By Component
By Therapeutic Application
By Region
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Artificial Intelligence (AI) in Precision Medicine Market
5.1. COVID-19 Landscape: Artificial Intelligence (AI) in Precision Medicine Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Artificial Intelligence (AI) in Precision Medicine Market, By Technology
8.1. Artificial Intelligence (AI) in Precision Medicine Market, by Technology, 2023-2032
8.1.1 Machine Learning
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Querying Method
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Deep Learning
8.1.3.1. Market Revenue and Forecast (2020-2032)
8.1.4. Deep Learning
8.1.4.1. Market Revenue and Forecast (2020-2032)
8.1.5. Context-Aware Processing
8.1.5.1. Market Revenue and Forecast (2020-2032)
8.1.6. Natural Language Processing
8.1.6.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Artificial Intelligence (AI) in Precision Medicine Market, By Component
9.1. Artificial Intelligence (AI) in Precision Medicine Market, by Component, 2023-2032
9.1.1. Hardware
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Software
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Service
9.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Artificial Intelligence (AI) in Precision Medicine Market, By Therapeutic Application
10.1. Artificial Intelligence (AI) in Precision Medicine Market, by Therapeutic Application, 2023-2032
10.1.1. Oncology
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Neurology
10.1.2.1. Market Revenue and Forecast (2020-2032)
10.1.3. Cardiology
10.1.3.1. Market Revenue and Forecast (2020-2032)
10.1.4. Respiratory
10.1.4.1. Market Revenue and Forecast (2020-2032)
10.1.5. Others
10.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Artificial Intelligence (AI) in Precision Medicine Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Technology (2020-2032)
11.1.2. Market Revenue and Forecast, by Component (2020-2032)
11.1.3. Market Revenue and Forecast, by Therapeutic Application (2020-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Technology (2020-2032)
11.1.4.2. Market Revenue and Forecast, by Component (2020-2032)
11.1.4.3. Market Revenue and Forecast, by Therapeutic Application (2020-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Technology (2020-2032)
11.1.5.2. Market Revenue and Forecast, by Component (2020-2032)
11.1.5.3. Market Revenue and Forecast, by Therapeutic Application (2020-2032)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Technology (2020-2032)
11.2.2. Market Revenue and Forecast, by Component (2020-2032)
11.2.3. Market Revenue and Forecast, by Therapeutic Application (2020-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Technology (2020-2032)
11.2.4.2. Market Revenue and Forecast, by Component (2020-2032)
11.2.4.3. Market Revenue and Forecast, by Therapeutic Application (2020-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Technology (2020-2032)
11.2.5.2. Market Revenue and Forecast, by Component (2020-2032)
11.2.5.3. Market Revenue and Forecast, by Therapeutic Application (2020-2032)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Technology (2020-2032)
11.2.6.2. Market Revenue and Forecast, by Component (2020-2032)
11.2.6.3. Market Revenue and Forecast, by Therapeutic Application (2020-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Technology (2020-2032)
11.2.7.2. Market Revenue and Forecast, by Component (2020-2032)
11.2.7.3. Market Revenue and Forecast, by Therapeutic Application (2020-2032)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Technology (2020-2032)
11.3.2. Market Revenue and Forecast, by Component (2020-2032)
11.3.3. Market Revenue and Forecast, by Therapeutic Application (2020-2032)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Technology (2020-2032)
11.3.4.2. Market Revenue and Forecast, by Component (2020-2032)
11.3.4.3. Market Revenue and Forecast, by Therapeutic Application (2020-2032)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Technology (2020-2032)
11.3.5.2. Market Revenue and Forecast, by Component (2020-2032)
11.3.5.3. Market Revenue and Forecast, by Therapeutic Application (2020-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Technology (2020-2032)
11.3.6.2. Market Revenue and Forecast, by Component (2020-2032)
11.3.6.3. Market Revenue and Forecast, by Therapeutic Application (2020-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Technology (2020-2032)
11.3.7.2. Market Revenue and Forecast, by Component (2020-2032)
11.3.7.3. Market Revenue and Forecast, by Therapeutic Application (2020-2032)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Technology (2020-2032)
11.4.2. Market Revenue and Forecast, by Component (2020-2032)
11.4.3. Market Revenue and Forecast, by Therapeutic Application (2020-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Technology (2020-2032)
11.4.4.2. Market Revenue and Forecast, by Component (2020-2032)
11.4.4.3. Market Revenue and Forecast, by Therapeutic Application (2020-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Technology (2020-2032)
11.4.5.2. Market Revenue and Forecast, by Component (2020-2032)
11.4.5.3. Market Revenue and Forecast, by Therapeutic Application (2020-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Technology (2020-2032)
11.4.6.2. Market Revenue and Forecast, by Component (2020-2032)
11.4.6.3. Market Revenue and Forecast, by Therapeutic Application (2020-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Technology (2020-2032)
11.4.7.2. Market Revenue and Forecast, by Component (2020-2032)
11.4.7.3. Market Revenue and Forecast, by Therapeutic Application (2020-2032)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Technology (2020-2032)
11.5.2. Market Revenue and Forecast, by Component (2020-2032)
11.5.3. Market Revenue and Forecast, by Therapeutic Application (2020-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Technology (2020-2032)
11.5.4.2. Market Revenue and Forecast, by Component (2020-2032)
11.5.4.3. Market Revenue and Forecast, by Therapeutic Application (2020-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Technology (2020-2032)
11.5.5.2. Market Revenue and Forecast, by Component (2020-2032)
11.5.5.3. Market Revenue and Forecast, by Therapeutic Application (2020-2032)
Chapter 12. Company Profiles
12.1. Novo Nordisk A/S
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. GE Healthcare
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Intel Corporation
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. NVIDIA Corporation
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Microsoft Corporation
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Alphabet Inc.
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. IBM Corporation
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. BioXcel Therapeutics Inc.
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Enlitic Inc.
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. AstraZeneca
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers